The reason monopolies, like governments, are inefficient is because there are no incentives for bureaucrats to be innovative or creative. In a free market, where there is competition, there is an incentive for business owners to be creative as they compete against other businesses.

Business is hard because pleasing other people is hard! But it is rewarding!! Your brain produces dopamine when you help others! Dopamine makes you feel good, it is almost like your brain was designed that way?

The “Law of Demand” states that the lower the price of a good or service the lower the demand for that good or service.

Saving for emergencies doesn’t make sense because those expenditures are so unpredictable.

One formula for the calculation of gross profit is sales revenue – cost of goods sold. Peter Harley owns a company that sells $14,500 in widgets that cost $10 per widget. The widgets cost $5 to manufacture and $1 to ship his store where he sells them. His gross profit is…   Below are some of the costs in COGS:  Direct materials Direct labor Equipment costs involved in the production Utilities for the production facility Shipping costs

Most Canadians think working for someone else is less risky than starting your own business. Even if you disagree with that after taking this course would agree that most Canadians see entrepreneurship as more risky than getting a job?

Which is not a form of compensation?

Which of the following is not a disadvantage of credit?

A Fad is a product that is fairly popular for a long time.

Stores hold Clearance Sales when they want to publicize the opening of a new store.