Types of Business Operations a. Name and describe the three types of business operations. b. What is the major difference between a merchandising business and a manufacturing business?
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American Economy: T opic 1 The American economy is like a giant aircraft carrier o Goals: Price stability More equitable distribution of income Economic freedom Economic security Full employment and full production Economic growth Theories have assumptions, deductions, and conclusions Definitions: o Economics – the study of man’s behavior in producing, consuming, and exchanging goods and services o Inductive reasoning – concept of reasoning from facts to theory, from the particular to the general. An accumulation of facts is arranged systematically and analyzed to derive the underlying principle o Deductive r
Textbook: Accounting: First Year Course
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