Answer the questions below and upload your completed assignment to this folder by the due date.
- Are profits necessarily money? Why or why not? Do not confuse the definition of accounting profits with economic profits, there is a difference.
- In your own words, explain how shortages affect prices. Don’t forget to look this up to form your opinion.
- In your own words, explain what is meant by the Invisible Hand. Also, research is needed here.
- Find a company that has had to drastically change the way they do business in the last ten years. What did they do and why?
- How can businesses compete with online competition that doesnt have to pay for brick and mortar locations? Provide more than one example.
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