Introduction to entrepreneurship/IENT103/Economics/Intro

&ldquo;All economic systems have three basic questions to ask: WHAT to produce, HOW to produce and in what quantities, and WHO receives the output of production.&rdquo;       Wikipedia

These are the very questions business owners must ask themselves as well, because all businesses are embedded in local, national, and global economic systems.

Let's have a look in more detail at economic systems.

WEnote

Which economic system is in place in your country? What does that mean in simple terms? How might this impact on your own business idea? For example:


 * My country, France, uses the ... system. This means...
 * My business idea will work well in this system, because ...
 * This system could affect my own business idea by...