Economics Revised

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Economics Revised

Category: Essay

Subcategory: Economics

Level: High School

Pages: 1

Words: 275

Question 1
It is the objective of all businesses to minimize cost, maximize profits, maximize market share and to maintain steady growth. The most important goal of an effective economic management is to make a profit and keep it. The profit-margin ration is one method of measuring the total amount of many a business makes from the total revenue. Minimizing cost is the other goal cost controls are used to reduce and manage business expenses. The other goal is to increase market share market share is the average sale of a given business within a given period of time in relation to the industry sales. The last goal is to maintain steady growth in earning steady growth ensures business continuity. Capitalism and free market affect implementation of effective economic management affect the implementation of these goals in the U.S. in that the US government doesn’t have control of prices of services and goods.
Question 2
As a consumer in the US, I have benefited from free and open policies in that these policies have offered the best opportunity to improve my living standards. As a consumer, I have enjoyed choices of variety, styles, and brand. For instance, during winter I had to make choice between a high price pure wool coat a product made in America and a low priced synthetic coat a product made in Mexico. The policies have not caused any concerns for me.
Question 3
On the other hand, export and imports from industrial cou…

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