Group decision making

• Identify the decision to be made.

• Evaluate options and select the best one.

• Analyze the issue under discussion.

• Implement the solution.

• Establish criteria.

• Brainstorm potential solutions. 

• Monitor and evaluate the outcome.

Reasons for and against Government intervention

Analysing and Evaluating Government Intervention in Markets

Following are the some pints:

• To correct for market failures.
• The role of the government is to protect property rights.Uphold the rule of law and maintain the value of the currency.
• There are occasions when they fail  providing a case for intervention.
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• To improve the performance of the economy
• In a free market system  governments take the view that markets are best suited to allocating scarce resources.

Measuring the level of economic activity: GDP

Economic activity and objectives

• Define key economic concepts

• Aggregate supply factors affecting the achievement of each economic objective.

• The significance of, and relationship between, the economic objectives.

• The performance of the economy in terms of the objectives over the past decade.

• The criteria for assessing the performance of the economy.

Business Ethics Corporate Social Responsibility

Explain the Social Responsibility of Business