Economic Concepts Worksheet
MBA 501
University of Phoenix Online
Economic Concepts Worksheet
Economic Concepts Worksheet
Concept Application of Concept from Personal Experience Reference to Concept in Reading
Microeconomics(McConnell and Brue #1)This is examining specific economic groups or units. One of the elements of microeconomics is positive economics. Positive economics is concerned with "what is." (McConnell, 2004) Our desire is to build a strong and stable business in one part of our area. Some of the factors that need to be investigated are: · How many employees are needed to sustain the business.· What education and skill is needed from employees.· How technology influences how the business is run. If one can manage these components of the business favorably, then the business can perform healthier. I am able to observe this in the hospital where I work. There has been much growth in our area and therefore there is a greater need for laboratory services in the area. Additional employees are needed to accommodate the additional A laboratory technologist needs to have a bachelor's degree or equivalent certification to work in the lab. Because the need for employees has increased, the lab director needs to monitor the schools that have programs for Medical Technologist. Another option the director needed to look at is the increased technology and new instruments available. Our lab director is also monitoring the new technology that is becoming available and examines to see if different instruments or new instruments and help the current employees become m ...