Understanding How Economics Affects Business

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hi, i want you to answer this question by considering the lecture that mentioned at the end

CHAPTER 2
Understanding How Economics Affects Business

  • Explain basic economics.
  • Explain what capitalism is and how free markets work.
  • Compare socialism and communism.
  • Analyze the trend toward mixed economies.
  • Describe the economic system of the United States, including the significance of key economic indicators (especially GDP), productivity, and the business cycle.
  • Contrast fiscal policy and monetary policy, and explain how each affects the economy.

Lectures
Topic 1: Economics
Topic 2: Capitalism and Free Markets
Topic 3: Socialism and Communism
Topic 4: Mixed Economies
Topic 5: Economic System and Economic Indicators of the U.S.
Topic 6: Fiscal and Monetary Policy

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