Styles Question 1: What is profit? Do you agree with the statement, "The success of a business is measured only by the profit it earns"? Explain your answer. Question 2: Explain how small businesses create new industries. Question 3: Explain how consumers benefit from business competition. Question 4: List and describe the four basic rights in the private enterprise system. Question 5: Explain how e-business has created a new type of strategic alliance among companies. Question 6: Why do investors expect a firm to act ethically and exhibit social responsibility? Question 7: What are the 6 elements that must be in place to support a code of ethics in any company? Question 8: List and describe each of the four stages of the business cycle. Question 9: List at least five challenges to maintaining global competitiveness Question 10: How have globalization and information technology created new opportunities for entrepreneurs? Describe current demographic trends that suggest new goods and services for entrepreneurial businesses