Solved Assignment 4 for Business and Management Studies
Added on 2020-07-22
7 Pages1737 Words83 Views
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Understanding Business
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11. Explaining the reason United States of America is considered as a capitalist country...........12. Meaning of left and right wing...............................................................................................13. Identifying the advantages and disadvantages of competition................................................24. Explaining the term of ‘climate change’ from scientific point of views.................................25. Explaining the term ‘fracking’................................................................................................36. Political impact for UK business from Britain leaving the EU...............................................3CONCLUSION................................................................................................................................4REFERENCES................................................................................................................................5
INTRODUCTIONEstablishing business in today's competitive era is a difficult process as it requires in-depth knowledge and understanding of business concepts and theories. In competitive world, it isessential for individuals to develop understanding about business son that the growth of thebusiness can be promoted in a systematic manner. It assists person in enhancing their knowledgeabout various risk and factors that have great effect on business operations. Study orunderstanding about business also allows individual to develop various skills that are requiredfor becoming a successful entrepreneur. It provides person an opportunity to increase riskbearing capacity and develop various qualities that could be used for solving business problems. TASK 11. Explaining the reason United States of America is considered as a capitalist countryThe USA is considered as Capitalist country as it consists of all unique elements ofcapitalism. It is a state which is totally different from others like Mexico, Canada, etc. People inUSA use dollar for facilitating transactions. The country has classic structure that consists ofcapitalist Trump, Morgan, Koch s, Malone, etc. who have control over production as wellactivities but does not produce anything. The majority of people who produce product for thesebig authorities are able to earn only limited income that is required for fulfilling their basicneeds. It is the country where individuals have to search for work in order to earn income fortheir survival. In simple words, USA is considered as a capitalist country as it is dependent onother countries for its economic growth (Hudson,2017.) The constitution party of United Statesis right-wing political party. However, green party holds the ideologies of left-wing in thecountry.2. Meaning of left and right wingLeft-right political compass is an instrument for classifying political positions, ideologiesand parties. Left wing indicates the social system and ideologies of force for instance socialism,communism, as well as progressivism. The right-wing term indicates the social systems as wellas ideologies of freedom for instance capitalism, constitutional republicanism and classicalliberalism. Left as well as right wings politics are often represented as opposing parties. It is theright of person to choose right or left wing. Political parties are classified on the basis of theirideologies. The members in right wing political parties believes that there are certain orders' and1
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