At the beginning of this chapter, you read about the Alibaba Group. Using the information presented in this chapter, you should now be able to answer these questions.
1-22. What is the difference between a market economy and a planned economy?
1-23. Explain how managers of Alibaba, eBay, Amazon.com, and other online retailers might view the concepts of supply and demand.
1-24. What economic indicators would a business owner be most likely to watch, and why?
1-25. Does Jack Ma’s success increase or decrease your confidence in a capitalistic system based on private enterprise?
1-26. Should there be more government intervention in the markets and business dealings? Why, or ...