1000 words

Document2 - Microsoft Word Mailings Review View . AaE Normal 1 No Spaci... Heading 1 Heading 2 Title Paragraph Styles 1. Business Fundamentals a) What is a mixed economy? Explain with an example any one of the roles of the government in a mixed economy (why is the government involved in this way?). b) Explain why oligopolies are more likely to collude than firms in a competitive market. c) Explain why product differentiation is so important in monopolistic competition. Use a real world example of how a firm does this. 2. Ethics a) Why are many ethical decisions so complex ? b) Explain either the utilitarian view or the categor{cal imperative. Use a practical example of an ethical dilemma to support your answer. c) A firm is not maximising profits or selling at the cheapest price because of its higher ethical standards (see the Firm 2 example in the notes). How might the goods be marketed advertised) to take advantage of this position? 3. New Ventures a) Explain how you would go about finding a good area to start a business. Use a real life example to support your answer b) Briefly screen this business idea using the four points from the notes. c) Explain briefly whether you would prefer debt financing or equity financing and why