concepts of business 2

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Directions: Answers must rely on textbook source and at least 3 other outside scholarly/academic sources to support ideas and a minimum of 350 words per question. Must use proper grammar, mechanics and spelling in your response, you have to make use of proper in-text citations and an end-reference “ NO Plagiarism” . Textbook is uploaded and must be used as one source. All Sources besides the textbook provided, must have a direct link to it.


  1. Define the term Stakeholder. What is the difference between a stakeholder and a stockholder? Does a business necessarily have obligations to anyone besides stockholders?
  2. Define the term Mixed Economy. Do you agree with Adam Smith that “the invisible hand of competition” best regulates the economy and that there is no need for government intervention? Support your answer.
  3. Your text identified basic individual and business rights that must be present in order for a free enterprise to exist. What obstacles to these rights might exist that would prevent a true free enterprise system?
  4. It has been said by some that ethics are subjective to individual interpretation. Do you agree with this statement? How do you identify an issue that might be unethical?
  5. Your supervisor informs you that he will allow you to complete your coursework during lunch from your office computer. However, you discover that your company policy specifically indicates that the use of technology for anything other than work is prohibited and could lead to termination. What would you do?

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