Perspective Research Paper Example | Topics and Well Written Essays - 250 words

Perspective - Research Paper Example may not necessarily be the main deciding factor, but microeconomic principle assumes that all other factors kept constant, as the price of a product goes up, demand for the product declines. Based on pricing, a business can focus with accuracy what consumers will buy and what they will not buy (Mankiw, 62). A planned Economy is an economic system in which it is directed by the state. The central government controls all decisions regarding distribution and production of goods and services. Certified planners come second in that hierarchy by distributing work among the labour force. In a free market economic system, groups seeking their own advantage make decisions pertaining production and pricing. In a Mixed Economy, there exist an assortment of government and free enterprise control, and in some cases, the government may have a monopoly (Peter, 14). (B2B) Business-to-Business is a trade market where one can buy anything at any time with a purpose of saving money and acquiring goods for immediate decision-making. Drawbacks of B2B include; it does not facilitate all types of businesses and possible lack of credit as big businesses my deliberately kill small businesses. Advantages of B2B include; the use of online means reduces cost of running a business, and it facilitates ease of tracing customer details. E-business is a business process that aims to integrate consumers with suppliers via the internet. Advantages of E-business include; worldwide presence, effectiveness in marketing and promotion, better and personalised customer service and ease of development of competitive strategies. Some of its advantages are, costly business solutions and sector limitation in terms of some products being perishable (Iyer). Several factors have influence on business perspective. These factors include economic factors, the economic system and the form of business itself. During business start-ups, it is important to keep these factors in