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Material Type: Assignment; Class: Introduction To Business; Subject: Business; University: Solano Community College; Term: Fall 2008;
Typology: Assignments
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BUS 005 Homework #
The text defines profit as “the amount a business earns above and beyond what it spends for salaries and other expenses.” Choose a large corporation representing each of the following types of companies. Each spring, Fortune magazine publishes a comprehensive listing of the largest U.S. corporations along with annual income, profit, employees, etc. There are several financial references on the Web, such as www.moneycentral.msn.com/investor or www.marketwatch.com. You can also find the information on each corporation’s Web site. Using the above profit definition, how much profit as a percentage of sales do you think each corporation earns? In other words, out of every dollar a company earns, how much does it keep?
Corporation _____________________ Percent Estimated Profit ____________
Corporation _____________________ Percent Estimated Profit ____________
Corporation _____________________ Percent Estimated Profit ____________
Corporation _____________________ Percent Estimated Profit ____________
BUS 005 Homework #
Is the standard of living different in capitalist, socialist, and communist economies? Which economic system provides the highest standard of living? One way of answering these questions is by comparing economic data you might find in the library or on the Internet. (Hint: try the CIA Web site.) Choose one capitalist country, one socialist country, and one communist country. Use the following chart to record your findings.
Country Chosen
Gross Domestic Product
Consumer Prices
Unemployment Rate
Average Income
Average Education
BUS 005 Homework #
Think also of the economic potential of two-income families with no children. These young urban professionals are stereotyped as driving fancy sports cars, living in elaborately decorated apartments, and enjoying the good life. There is some truth in that image. On the other hand, such couples tend to work long hours and seem to have no time for starting a family.
The tensions of having two-income families plus the social changes that have happened over the last 25 years or so have led to divorce and the phenomenon called the single-parent family. The number of households headed by a woman with one or more children has doubled since 1970. There are about 6 million such families, and most of them live in poverty. Another 800,000 single-parent households are headed by a man. These are the statistics. What do they mean for business?