1. What do you know about Economics?

Economics studies the way people deal with a fact of life:

resources are limited, but our demand for them certainly is not.

Resources may be material things such as food, housing and heating.

There are some resources, though, that we cannot touch. Time, space

and convenience, for example, are also resources. Economists study the

trade-offs people make. Economists talk about microeconomics and macroeconomics. Microeconomics deals with people, like you and me, and private

businesses. It looks at the economic decisions people make every day. It

examines how families manage their household budgets.

Microeconomics also deals with companies - small or large - and how

they run their business. Macroeconomics, on the other hand, looks at the

economy of a country - and of the whole world. Any economist will tell

you, though, that microeconomics and macroeconomics are closely

related. All of our daily microeconomic decisions have an effect on the

wider world around us.

2. What changes have taken place in retailing recently

As consumers demand better value and a more interesting and stimulating experience while shopping, department stores face a clear choice: adapt or die. Department stores face mounting competition from speciality retailers and discounters, such as wall-mart. One of the main changes is that more floor space is rented ot vendors, in what is sometimes referred to as the showcase business model: vendors design their own booths and are encouraged to be creative. The Selfridges model is about creating an experience that is «new, interesting and different» where it is not just the product that is different. US department stores are all look the same. Many stores must be upgraded with the latest component of «reinvent» strategy, including enhanced fitting rooms, convenient, price-check devices, comfortable lounge areas, computer kiosks and shopping carts. The challenge department stores face is how to develop in a sector that is, essentially, not growing. But if they adapt, they will survive.

3. Why do some companies outsource their production?

4)Which factors are important for getting a job? Why?

5)What do you know about celebrity endorsement? Are there any disadvantages of it?

Phil Knite, the co-founder of Nike, prefers to let his superstar athletes and advertisements do his talking for him. From the beginning Nike has been prepared to take a gamble on sporting bad boys others would not touch. After extraordinary growth, Nike became number one trainer manufacturer in the UK. The main idea is that if you want to increase sales, good progress will be to attract celebrities to advertise. I don’t see any disadvantages of it. It is one of the best option to increase sales.

6. What is cultural awareness? Why is it important for business people?

Knowledge how you should operate when dealing with other people with other cultures is very important nowadays. The words that you choose have different effect on the recipient depending on which culture you’re conversing with.

Examples of differences in international business negotiations: To ask an Asian business person to make a yes or no decision during negotiation will be highly damaging. Their cultural norm is to avoid displeasing others with negative responses, and they will go to great lengths to avoid 'losing face' by admitting that they lack the ability to do something.

In other countries, the norm is to give people the answer that they want to hear when they ask a question - which can be highly confusing in business negotiations!

7. What things irritate people while traveling?

8. Which types of advertising do you think offensive?

9. Why do some people get angry when they travel on a plane?

Some people is the way airlines treat people on the plane. There are too many seats on the plane, so there is not enough leg room. Also the poor-quality food and drink you get airlines. It’s all so processed and packaged, noone can eat it.

Another people don’t enjoy being at airports. Things like long queues at check-in are irritated. Also if you have a lot of luggage and there are no luggage trolleys available, it’s really inconvenient. And when you finally do find a trolley and then find the departures board is full of flight delays and cancellations.

Someone always a victim of lost or delayed luggage. Attitude of airlines to passengers is like just another piece of luggage to be moved around the world. They seem to forget that we are people. For example, they overbook seats and just expect people to be able to take the next the next flight if flight is full.