Question: 075 > Discussions > Unit 1 Discussion Question 2 This is a graded discussion: 15 points possible due Mar 1 Unit 1 Discussion Question 2

075 > Discussions > Unit 1 Discussion Question 2 This is a graded discussion: 15 points possible due Mar 1 Unit 1 Discussion Question 2 . Prompt: What would be the consequences if every organization used different rules and definitions for how it kept its books and reported its finances? In what ways would that affect the quality of management or investment decisions? . Requirements: 250 words minimum initial post, 100 words minimum reply

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8. What is meant by the term creative destruction? How does the emergence of MP3 (or iPod) technology relate to this idea? LO2.3

12. How does shielding employees and suppliers from business risk help to improve economic outcomes? Who is responsible for managing business risks in the market system? LO2.6

6. Evaluate and explain the following statements: LO2.2 a. The market system is a profit-and-loss system. b. Competition is the disciplinarian of the market economy.