CHAPTER
1
Introduction to Business
and Economics
In This Chapter
1.1 Introduction to
Business
Impact of Business
Functions of Business
1.2 Introduction to
Economics
Economics
Economic Systems
Market Forces
Reading Prep
As you read this chapter, determine the point of view or
purpose of the author. What aspects of the text help to establish
this purpose or point of view?
College
and Career
Readiness
Exploring Careers
Economist
Economic activity is essential for businesses to succeed, but it can be
difficult to predict. Economists study, analyze, and interpret economic issues.
They observe financial markets, employment rates, and government economic
policies. Economists typically work with statistics, charts, and surveys to
organize economic data. Based on their studies, they make recommendations
to a business or government.
Typical job titles for this position also include economic consultant,
project economist, and research analyst. Examples of tasks that economists
perform include:
• predict market trends by using sampling to collect data
• compare current and historic economic conditions
• advise businesses on economic trends and problems
Economists are required to have a bachelor degree. Coursework in
economics, calculus, and statistics is required for entry-level jobs. A master
degree or doctorate degree in economics is needed for higher-level positions.
Economists should have advanced computer and math skills.
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