Discussion on Co Branding

Instructions: Read pages 5-8 in The World of Business and answer the following questions.

1. What are the 3 P of business?

2. What is the definition of a need? What is a want? Are your definitions and examples consistent with the textbook?

3. What is the difference between a good and a service?

4. a) What do we mean by the term co-branding? What are some of the benefits of co-branding? Besides Home Depot and Subway what are some other businesses that benefit from co-branding?

b) Do you think more companies will co-brand in the future? Why?

Demand, Supply and Price

Instructions: Read pages 9-13 and answer the following questions.

5. What is demand? Are demands the same from person to person?

6. Explain the Law of Demand.

7. List and describe the 4 conditions that create demand for an item.