The purpose of a business model is to provide a clear representation of where and how value is created and can be captured. True False

Adam Smith believed that the ideal capitalist economy is “self-motivating, self-coordinating, and self-regulating.” Give three (3) examples of how, in your view, the U.S. economy departs from Smith’s ideal.  Don’t just state the example.  Support your points of view. (100 words maximum)

Incentives such as tax breaks for fuel-efficient cars or the use of social stigma to discourage certain activities are created by throughout society. individuals technological progress constant returns to scale institutions

Mr. Collins decides to handle the sale of his mother’s house to the present tenants. Which economic practice does this represent?a. product-service systemb. social capitalc. peer-to-peer marketplaces

How do a capitalist economic system influence safety and health

Select the following statement that is accurate regarding entrepreneurs.         Entrepreneurs must always make decisions for the company they started.          If an entrepreneur wants to reduce their risks, they can pass the risks on to a CEO.          Entrepreneurs only need a willingness to take a risk to start a business.          An entrepreneur can fire and replace the managers of their company.

If a company cannot succeed while also providing fair working conditions and operating in a sustainable manner, should it be allowed to succeed at all? Explain.

We can map the benefits from changes in products/service offerings, process changes, or position innovations on a business model framework. True False

What kind of economic system does the following statement describe? Select the best answer. A country where people are able to sell what they want Answer This is an example of a traditional economy. This is an example of a market economy. This is an example of a command economy.

Match the market structure and its characteristics.