BUS 201- Final Exam Guide - Comprehensive Notes for the exam ( 57 pages long!)
29 Mar 2018
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Information resources (knowledge make products or services to sell) about an industry) Many roles of government: customer, buy products and services from entrepreneurs eg. construction contractors, regulator, make laws and regulations, competitor, create completion in an industry with crown corporations eg. icbc for car insurance. Taxation agent: collect taxes to invest into the country. Incentives: electric car tax savings and rebate, driving in hov lane with certain number of people in car. Supply and demand: higher prices = less sales. Lower prices = more sales: goal is to find a supply and demand equilibrium to maximize profits. But when there are less seats available prices will go up a(cid:374)d (cid:449)hoe(cid:448)er is (cid:449)illi(cid:374)g to pay for the ti(cid:272)kets at that higher pri(cid:272)e (cid:449)ill pay. Some industries are more competitive than others: eg. food industry. More competitive because it is easy to make food, therefore lower prices and quality will be a factor when purchasing food: social medial.
