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Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE1 Business in the U.S. Economy Goals Describe the changing status of U.S. employment. Discuss the role of business in the U.S. economy. Describe three major types of businesses. 5-1
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 2 Key Terms contingent worker producer intermediary service business
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 3 THE CHANGING U.S. JOB MARKET Employment data Pressures on employees
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 4 Checkpoint >> List several groups that will increase as a percentage of the total U.S. workforce in the next decade. Answer Younger workers (16–24 years of age) Asian-, Hispanic-, African-American groups Women
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 5 BUSINESS AND THE ECONOMY Size of businesses Roles of business Impact on a community
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 6 Source: U.S. Census Bureau Percent of Businesses by Employee Size
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 7 BUSINESS ACTIVITIES Generating ideas Raising capital Employing and training personnel Buying goods and services Marketing goods and services Maintaining business records
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 8 Checkpoint >> What are the basic activities completed by all businesses? Answer are generating ideas raising capital employing and training personnel buying goods and services marketing goods and services maintaining business records
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 9 TYPES OF BUSINESSES Producers Intermediaries Service businesses
Intro to Business, 7e © 2009 South-Western, Cengage Learning SLIDE Chapter 5 10 Checkpoint >> How does a manufacturer differ from an extractor? Answer An extractor takes natural resources, such as oil or timber, for direct consumption or for use in developing other products. A manufacturer takes resources supplied by others and converts them into useable products.
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