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Questions and Answers
Which book has the content of this script been taken from?
Which book has the content of this script been taken from?
What is the aim of this book?
What is the aim of this book?
Who has contributed to the development of the text?
Who has contributed to the development of the text?
Which region is AT&S located in?
Which region is AT&S located in?
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What is AT&S known for manufacturing?
What is AT&S known for manufacturing?
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What is the market position of AT&S in Europe?
What is the market position of AT&S in Europe?
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What do Tina and Steve prefer to become?
What do Tina and Steve prefer to become?
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Which of the following is NOT a basic economic concept discussed in the text?
Which of the following is NOT a basic economic concept discussed in the text?
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Which of the following is NOT a focus of marketing?
Which of the following is NOT a focus of marketing?
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Which of the following is NOT a form of business ownership discussed in the text?
Which of the following is NOT a form of business ownership discussed in the text?
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What can be learnt from reading a balance sheet and an income statement?
What can be learnt from reading a balance sheet and an income statement?
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What is a main characteristic of the economy?
What is a main characteristic of the economy?
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What is Tina and Steve's main idea for their business?
What is Tina and Steve's main idea for their business?
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What additional services are Tina and Steve considering offering?
What additional services are Tina and Steve considering offering?
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Why do Tina and Steve want to start a business?
Why do Tina and Steve want to start a business?
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What is the purpose of a business plan?
What is the purpose of a business plan?
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Why are skilled and talented people important for a business?
Why are skilled and talented people important for a business?
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What are the tasks of personnel management?
What are the tasks of personnel management?
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What is the purpose of accounting in a business?
What is the purpose of accounting in a business?
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Which of the following is a benefit of specialization and division of labor?
Which of the following is a benefit of specialization and division of labor?
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What is an example of specialization within a household?
What is an example of specialization within a household?
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Which level of production involves the production of tables?
Which level of production involves the production of tables?
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What are some disadvantages of specialization and division of labor?
What are some disadvantages of specialization and division of labor?
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What is the purpose of money in the circular flow of goods and services?
What is the purpose of money in the circular flow of goods and services?
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In the circular flow of the economy, what role do public authorities play?
In the circular flow of the economy, what role do public authorities play?
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What happens to the purchasing power of money when there is a general rise in prices?
What happens to the purchasing power of money when there is a general rise in prices?
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Why do individuals engage in exchange of goods and services?
Why do individuals engage in exchange of goods and services?
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Which of the following best describes scarcity of resources?
Which of the following best describes scarcity of resources?
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What is the opportunity cost for Tina and Steve if they decide to set up their own business instead of taking jobs at another business?
What is the opportunity cost for Tina and Steve if they decide to set up their own business instead of taking jobs at another business?
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What does microeconomics focus on?
What does microeconomics focus on?
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What does macroeconomics study?
What does macroeconomics study?
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Which economic system allows individuals and businesses to make their own economic decisions?
Which economic system allows individuals and businesses to make their own economic decisions?
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What is the role of governments in planned economic systems?
What is the role of governments in planned economic systems?
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What determines the supply of a certain good or service in a market economy?
What determines the supply of a certain good or service in a market economy?
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What is a market in a market economy?
What is a market in a market economy?
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Which scientific fields does the book aim to explain basic concepts of?
Which scientific fields does the book aim to explain basic concepts of?
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What is the intention of the short introduction in the book?
What is the intention of the short introduction in the book?
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Who provided feedback for the development of the book?
Who provided feedback for the development of the book?
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Which company is the market leader in Europe in the field of high-end printed circuit boards?
Which company is the market leader in Europe in the field of high-end printed circuit boards?
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Where is AT&S located?
Where is AT&S located?
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What are the new technologies that net/de/ specializes in?
What are the new technologies that net/de/ specializes in?
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What are Tina and Steve ready to do in order to start their business?
What are Tina and Steve ready to do in order to start their business?
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Which of the following is NOT a topic covered in the book?
Which of the following is NOT a topic covered in the book?
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What is the main focus of Chapter 3 in the book?
What is the main focus of Chapter 3 in the book?
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What does the term 'stakeholders' refer to in the context of businesses?
What does the term 'stakeholders' refer to in the context of businesses?
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What does the marketing mix refer to?
What does the marketing mix refer to?
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What is the purpose of a business plan?
What is the purpose of a business plan?
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Why are skilled and talented people important for a business?
Why are skilled and talented people important for a business?
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What are the tasks of personnel management?
What are the tasks of personnel management?
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What is the role of businesses in the economy?
What is the role of businesses in the economy?
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Which of the following is NOT one of the functions of money mentioned in the text?
Which of the following is NOT one of the functions of money mentioned in the text?
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What is the role of public authorities in the circular flow of the economy?
What is the role of public authorities in the circular flow of the economy?
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What is the main benefit of using money as a means of exchange?
What is the main benefit of using money as a means of exchange?
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What is the European Central Bank's preferred inflation rate per year?
What is the European Central Bank's preferred inflation rate per year?
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What is the opportunity cost for Tina and Steve if they decide to set up their own business instead of taking jobs at another business?
What is the opportunity cost for Tina and Steve if they decide to set up their own business instead of taking jobs at another business?
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Which of the following is NOT a disadvantage of specialization and division of labor?
Which of the following is NOT a disadvantage of specialization and division of labor?
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What is the focus of microeconomics?
What is the focus of microeconomics?
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What is the purpose of specialization and division of labor?
What is the purpose of specialization and division of labor?
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What is the focus of macroeconomics?
What is the focus of macroeconomics?
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Which level of production involves the production of tables?
Which level of production involves the production of tables?
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What is the role of governments in planned economic systems?
What is the role of governments in planned economic systems?
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What are some factors that can influence the division of labor on an international level?
What are some factors that can influence the division of labor on an international level?
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What is the main characteristic of the economy?
What is the main characteristic of the economy?
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What do Tina and Steve consider doing to offer affordable computers to their customers?
What do Tina and Steve consider doing to offer affordable computers to their customers?
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What additional services are Tina and Steve considering offering to their customers?
What additional services are Tina and Steve considering offering to their customers?
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What is the main idea of Tina and Steve for their business?
What is the main idea of Tina and Steve for their business?
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Which of the following is NOT a characteristic of a market economy?
Which of the following is NOT a characteristic of a market economy?
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What is the main factor that determines the supply of a certain good or service in a market economy?
What is the main factor that determines the supply of a certain good or service in a market economy?
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Which of the following is NOT a type of market mentioned in the text?
Which of the following is NOT a type of market mentioned in the text?
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Which of the following is a characteristic of a planned economic system?
Which of the following is a characteristic of a planned economic system?
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Study Notes
Introduction to Business and Economics Study Material
- The script is written for students interested in the WU bachelor study program Business and Economics and want to take the entry exam.
- The content is taken from the book "Introduction to Business and Economics" by Bettina Fuhrmann.
- The aim of the book is to explain basic concepts of business and economics to those with little previous knowledge.
- The book provides a solid basis for further learning and aims to spark an enduring interest in business and economics.
- Colleagues and experts in the field have contributed valuable comments to the development of the text.
- Economic knowledge is important for everyone regardless of age, gender, or personal background.
- The book is dedicated to young learners to help them understand their active role in the economy.
- The script covers various topics including introduction to business matters, basic economic concepts, different types of businesses, forms of business ownership and sources of finance, marketing, accounting, personnel management, writing a business plan, and case study.
- The script provides an example of Tina and Steve considering starting a business that offers computer services.
- The script discusses the characteristics of a business and the exchange of goods and services in the economy.
- Tina and Steve consider buying used computers, repairing them, and offering additional services to create value for customers.
- The script also mentions the possibility of Tina and Steve finding jobs in their field of expertise but they prefer to become entrepreneurs.
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