How businesses and nonprofit organizations add to the standard of living

Discuss how businesses and nonprofit organizations add to the standard of living and quality of life for all;
explain the importance of entrepreneurship to the wealth of an economy, and how the economic, social and
global environment and taxes affect businesses.
Describe how the free-market system works; explain the major differences between capitalism, socialism, and
a mixed economy, and discuss the significance of key economic indicators, productivity and the business
cycle.