Define business. (5) points What are the resources a business needs to be successful? Explain each resource. (20) points Who are the stakeholders in a business?

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Define business. (5) points What are the resources a business needs to be successful? Explain each resource. (20) points Who are the stakeholders in a business? (5) points Explain the term “visible hand”. (20) points Explain a market economy. (10) points Explain command economy. What are the types? (20) points What are the common measures used to evaluate a Nation’s Economic Health? (10) points Explain monopolistic competition. (10) points Explain oligopoly. (10) points Explain monopoly. (10) points

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