$1.$ Define profit. Explain why you agree or disagree with the following statement: $$The success

of a business is measured by the profits that the company earns$.$

$2.$ Describe the factors that influence business ethics.

$3.$ Describe the factors that cause a demand curve to shift $($to the right or left$)$

$4.$ Being an entrepreneur comes naturally to many people. However, there are others who need

to work to develop these skills. Regardless, there is a lot to be gained from being

proactive about enhancing your entrepreneurial skills. Discuss how a person can improve

their entrepreneurial talents.

$5.$ Jack Gray and his best friend, Bruce McVay, decided to start their own small business.

Jack had developed recipes for fat$-$free and low$-$fat cookies and muffins.

Bruce had extensive experience in managing food$-$service establishments.

They knew that a startup company needs a quality product, adequate funds,

a written business plan, some outside financial support, and a good

promotion program. Jack has $$35,000$ to invest and Bruce as $$15,000$ to

invest $($but has the borrowing power of an additional $$125,000).$

However, they still have many decisions to make, including what form or

organization to use, how to market their product, and how to determine

exactly what products to sell$$whether just cookies and muffins or

additional products.

Please evaluate the idea of a low$-$fat cookie and muffin retail store. Please describe any concerns

in connection with starting a small business that Jack and Bruce have not considered? What

advice would you give Jack and Bruce as they start up their business?

$6.$ Should businesses focus more on product development $($which satisfies customer$$s needs$)$ or

should they focus more on employee development $($who cater to customers once they come into

the business$)?$ Please discuss.