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# Creating Products and Pricing Strategies to Meet Customers' Needs ## What Is a Product? 1. What is a product, and how is it classified? The goal of marketing research is to create products that are desired by the target market(s) chosen as strategic markets in line with the organization’s goals. In marketing, a pro...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Creating Products That Deliver Value 1. How do organizations create new products? New products pump life into company sales, enabling the firm not only to survive but also to grow. Companies like Allegheny Ludlum (steel), Dow (chemicals), Samsung ...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## The Product Life Cycle 1. What are the stages of the product life cycle? Product managers create marketing mixes for their products as they move through the life cycle. The product life cycle is a pattern of sales and profits over time for a produ...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Pricing Strategies and Future Trends 1. What strategies are used for pricing products, and what are the future trends? An important part of the marketing planning process is setting the right price. Price is the perceived value that is exchanged f...
# Creating Products and Pricing Strategies to Meet Customers' Needs ## Trends in Developing Products and Pricing 1. What trends are occurring in products and pricing? As customer expectations increase and competition becomes fiercer, perceptive managers will find innovative strategies to satisfy demanding consumers a...
# Distributing and Promoting Products and Services ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What is the nature and function of distribution (place)? 2. What is wholesaling, and what are the types of wholesalers? 3. What are the different kind...
# Distributing and Promoting Products and Services ## The Nature and Functions of Distribution (Place) 1. What is the nature and function of distribution (place)? Distribution is efficiently managing the acquisition of raw materials by the factory and the movement of products from the producer or manufacturer to busi...
# Distributing and Promoting Products and Services ## Wholesaling 1. What is wholesaling, and what are the types of wholesalers? Wholesalers are channel members that buy finished products from manufacturers and sell them to retailers. Retailers in turn sell the products to consumers. Wholesalers also sell products to...
# Distributing and Promoting Products and Services ## The Competitive World of Retailing 1. What are the different kinds of retail operations? Some 15 million Americans are engaged in retailing. Of this number, almost half work in service businesses such as barbershops, lawyers’ offices, and amusement parks. Although...
# Distributing and Promoting Products and Services ## Using Supply Chain Management to Increase Efficiency and Customer Satisfaction 1. How can supply-chain management increase efficiency and customer satisfaction? Distribution (place) is an important part of the marketing mix. Retailers don’t sell products they can’...
# Distributing and Promoting Products and Services ## Promotion Strategy 1. What is promotion, and what are the key elements of a promotional mix? Promotion is an attempt by marketers to inform, persuade, or remind consumers and B2B users to influence their opinion or elicit a response. Most firms use some form of pr...
# Distributing and Promoting Products and Services ## The Huge Impact of Advertising 1. How are advertising media selected? Most Americans are bombarded daily with advertisements to buy things. Traditional advertising is any paid form of nonpersonal presentation by an identified sponsor. It may appear on television o...
# Distributing and Promoting Products and Services ## The Importance of Personal Selling 1. What is personal selling? Advertising acquaints potential customers with a product and thereby makes personal selling easier. Personal selling is a face-to-face sales presentation to a prospective customer. Sales jobs range fr...
# Distributing and Promoting Products and Services ## Sales Promotion 1. What are the goals of sales promotion, and what are several types of sales promotion? Sales promotion helps make personal selling and advertising more effective. Sales promotions are marketing events or sales efforts—not including traditional ad...
# Distributing and Promoting Products and Services ## Public Relations Helps Build Goodwill 1. How does public relations fit into the promotional mix? Like sales promotion, public relations can be a vital part of the promotional mix. Public relations is any communication or activity designed to win goodwill or presti...
# Distributing and Promoting Products and Services ## Trends in Social Media 1. What is social media, and how has it changed promotion? Advances in technology continue to change the marketing landscape. As you will see in the following sections, marketers are harnessing new technology to hone their marketing message ...
# Distributing and Promoting Products and Services ## Trends in E-Commerce 1. What is e-commerce, and how has it affected the retail sector? E-commerce is related to social media and other new online platforms because it utilizes the internet for marketing communication. E-commerce refers to the development and maint...
# Using Technology to Manage Information ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. How has information technology transformed business and managerial decision-making? 2. Why are computer networks an important part of today’s information techno...
# Using Technology to Manage Information ## Transforming Businesses through Information 1. How has information technology transformed business and managerial decision-making? Information technology (IT) includes the equipment and techniques used to manage and process information. Information is at the heart of all or...
# Using Technology to Manage Information ## Linking Up: Computer Networks 1. Why are computer networks an important part of today’s information technology systems? Today most businesses use networks to deliver information to employees, suppliers, and customers. A computer network is a group of two or more computer sy...
# Using Technology to Manage Information ## Management Information Systems 1. What types of systems make up a typical company’s management information system? Whereas individuals use business productivity software such as word processing, spreadsheet, and graphics programs to accomplish a variety of tasks, the job of...
# Using Technology to Manage Information ## Technology Management and Planning 1. How can technology management and planning help companies optimize their information technology systems? With the help of computers, people have produced more data in the last 30 years than in the previous 5,000 years combined. Companie...
# Using Technology to Manage Information ## Protecting Computers and Information 1. What are the best ways to protect computers and the information they contain? Have you ever lost a term paper you worked on for weeks because your hard drive crashed or you deleted the wrong file? You were upset, angry, and frustrated...
# Using Technology to Manage Information ## Trends in Information Technology 1. What are the leading trends in information technology? Information technology is a continually evolving field. The fast pace and amount of change, coupled with IT’s broad reach, make it especially challenging to isolate industry trends. F...
# Using Financial Information and Accounting ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. Why are financial reports and accounting information important, and who uses them? 2. What are the differences between public and private accountants, and h...
# Using Financial Information and Accounting ## Accounting: More than Numbers 1. Why are financial reports and accounting information important, and who uses them? Prior to 2001, accounting topics rarely made the news. That changed when Enron Corp.’s manipulation of accounting rules to improve its financial statement...
# Using Financial Information and Accounting ## The Accounting Profession 1. What are the differences between public and private accountants, and how has federal legislation affected their work? When you think of accountants, do you picture someone who works in a back room, hunched over a desk, wearing a green eye sh...
# Using Financial Information and Accounting ## Basic Accounting Procedures 1. What are the six steps in the accounting cycle? Using generally accepted accounting principles, accountants record and report financial data in similar ways for all firms. They report their findings in financial statements that summarize a...
# Using Financial Information and Accounting ## The Balance Sheet 1. In what terms does the balance sheet describe the financial condition of an organization? The balance sheet, one of three financial statements generated from the accounting system, summarizes a firm’s financial position at a specific point in time. ...
# Using Financial Information and Accounting ## The Income Statement 1. How does the income statement report a firm’s profitability? The balance sheet shows the firm’s financial position at a certain point in time. The income statement summarizes the firm’s revenues and expenses and shows its total profit or loss ove...
# Using Financial Information and Accounting ## The Statement of Cash Flows 1. Why is the statement of cash flows an important source of information? Net profit or loss is one measure of a company’s financial performance. However, creditors and investors are also keenly interested in how much cash a business generate...
# Using Financial Information and Accounting ## Analyzing Financial Statements 1. How can ratio analysis be used to identify a firm’s financial strengths and weaknesses? Individually, the balance sheet, income statement, and statement of cash flows provide insight into the firm’s operations, profitability, and overal...
# Using Financial Information and Accounting ## Trends in Accounting 1. What major trends affect the accounting industry today? The post-SOX business environment has brought many changes to the accounting profession. When the public accounting industry could no longer regulate itself back in the late 1990s and early ...
# Understanding Money and Financial Institutions ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. What is money, what are its characteristics and functions, and what are the three parts of the U.S. money supply? 2. How does the Federal Reserve manage...
# Understanding Money and Financial Institutions ## Show Me the Money 1. What is money, what are its characteristics and functions, and what are the three parts of the U.S. money supply? Money is anything that is acceptable as payment for goods and services. It affects our lives in many ways. We earn it, spend it, sa...
# Understanding Money and Financial Institutions ## The Federal Reserve System 1. How does the Federal Reserve manage the money supply? Before the twentieth century, there was very little government regulation of the U.S. financial or monetary systems. In 1907, however, several large banks failed, creating a public p...
# Understanding Money and Financial Institutions ## U.S. Financial Institutions 1. What are the key financial institutions, and what role do they play in the process of financial intermediation? The well-developed financial system in the United States supports our high standard of living. The system allows those who ...
# Understanding Money and Financial Institutions ## Insuring Bank Deposits 1. How does the Federal Deposit Insurance Corporation (FDIC) protect depositors’ funds? The U.S. banking system worked fairly well from when the Federal Reserve System was established in 1913 until the stock market crash of 1929 and the Great ...
# Understanding Money and Financial Institutions ## International Banking 1. What roles do U.S. banks play in the international marketplace? The financial marketplace spans the globe, with money routinely flowing across international borders. U.S. banks play an important role in global business by providing loans to ...
# Understanding Money and Financial Institutions ## Trends in Financial Institutions 1. What trends are reshaping financial institutions? What factors will influence financial institutions in the coming years? The latest reports suggest there will be a continued focus on regulatory and compliance issues (especially a...
# Understanding Financial Management and Securities Markets ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. How do finance and the financial manager affect a firm’s overall strategy? 2. What types of short-term and long-term expenditures does a firm...
# Understanding Financial Management and Securities Markets ## The Role of Finance and the Financial Manager 1. How do finance and the financial manager affect the firm’s overall strategy? Any company, whether it’s a small-town bakery or General Motors, needs money to operate. To make money, it must first spend money...
# Understanding Financial Management and Securities Markets ## How Organizations Use Funds 1. What types of short-term and long-term expenditures does a firm make? To grow and prosper, a firm must keep investing money in its operations. The financial manager decides how best to use the firm’s money. Short-term expens...
# Understanding Financial Management and Securities Markets ## Obtaining Short-Term Financing 1. What are the main sources and costs of unsecured and secured short-term financing? How do firms raise the funding they need? They borrow money (debt), sell ownership shares (equity), and retain earnings (profits). The fin...
# Understanding Financial Management and Securities Markets ## Raising Long-Term Financing 1. What are the key differences between debt and equity, and what are the major types and features of long-term debt? A basic principle of finance is to match the term of the financing to the period over which benefits are expe...
# Understanding Financial Management and Securities Markets ## Equity Financing 1. When and how do firms issue equity, and what are the costs? Equity refers to the owners’ investment in the business. In corporations, the preferred and common stockholders are the owners. A firm obtains equity financing by selling new ...
# Understanding Financial Management and Securities Markets ## Securities Markets 1. How do securities markets help firms raise funding, and what securities trade in the capital markets? Stocks, bonds, and other securities trade in securities markets. These markets streamline the purchase and sales activities of inve...
# Understanding Financial Management and Securities Markets ## Buying and Selling at Securities Exchanges 1. Where can investors buy and sell securities, and how are securities markets regulated? When we think of stock markets, we are typically referring to secondary markets, which handle most of the securities tradi...
# Understanding Financial Management and Securities Markets ## Trends in Financial Management and Securities Markets 1. What are the current developments in financial management and the securities markets? Many of the key trends shaping the practice of financial management echo those in other disciplines. For example...
# Your Career in Business ## Introduction ### Learning Outcomes After reading this chapter, you should be able to answer these questions: 1. How can you enhance your interpersonal skills? 2. Why is learning to plan so important in school and in the real world? 3. What skills should you develop in school that can tr...
# Your Career in Business ## Learn the Basics of Business You might want to pursue a career as a physician, florist, game warden, systems analyst, or any of a thousand other opportunities. One thing that all careers have in common is that you need to have a basic understanding of business. We hope that you will consi...
# Your Career in Business ## Developing Interpersonal Skills Is Key to Your Success A degree in business is going to offer you many great career opportunities. Once you take your first job, how rapidly you move up the ladder is up to you. People with great interpersonal skills will always do better on and off the job...
# Your Career in Business ## Make Your Future Happen: Learn to Plan There is a natural conflict between planning and being impulsive, between pursuing a long-range goal and doing what you feel like doing right now. If you have ever had to study while the rest of the family was watching television, you know what that ...
# Your Career in Business ## Going to College Is an Opportunity of a Lifetime—Never Drop Out You have already had one of your dreams come true—you are in college. It is indeed a rare privilege because far less than 1 percent of traditional college-age people around the world get to attend college. You’re lucky! So ma...
# Your Career in Business ## Get Your Career Off on the Right Track Mark this section of the text with a permanent bookmark because you are going to want to refer back to it many times during the remainder of your college career. Yes, we are going to give you a road map to find, keep, and advance in that job that is ...
# Your Career in Business ## Self-Test Scoring Guidelines After you answer the questions in each of the fun self-tests that appear in this chapter, determine your score and evaluate your skills using the following scoring guidelines. Table 1 Fun Self-Test: Can You Persuade Others? For questions 1, 2, 4, 8, 10, and 11...
# Science and the Universe: A Brief Tour ## Introduction We invite you to come along on a series of voyages to explore the universe as astronomers understand it today. Beyond Earth are vast and magnificent realms full of objects that have no counterpart on our home planet. Nevertheless, we hope to show you that the e...
# Science and the Universe: A Brief Tour ## The Nature of Astronomy Astronomy is defined as the study of the objects that lie beyond our planet Earth and the processes by which these objects interact with one another. We will see, though, that it is much more. It is also humanity’s attempt to organize what we learn i...
# Science and the Universe: A Brief Tour ## The Nature of Science The ultimate judge in science is always what nature itself reveals based on observations, experiments, models, and testing. Science is not merely a body of knowledge, but a method by which we attempt to understand nature and how it behaves. This method...
# Science and the Universe: A Brief Tour ## The Laws of Nature Over centuries scientists have extracted various scientific laws from countless observations, hypotheses, and experiments. These scientific laws are, in a sense, the “rules” of the game that nature plays. One remarkable discovery about nature—one that und...
# Science and the Universe: A Brief Tour ## Numbers in Astronomy In astronomy we deal with distances on a scale you may never have thought about before, with numbers larger than any you may have encountered. We adopt two approaches that make dealing with astronomical numbers a little bit easier. First, we use a syste...
# Science and the Universe: A Brief Tour ## Consequences of Light Travel Time There is another reason the speed of light is such a natural unit of distance for astronomers. Information about the universe comes to us almost exclusively through various forms of light, and all such light travels at the speed of light—th...
# Science and the Universe: A Brief Tour ## A Tour of the Universe We can now take a brief introductory tour of the universe as astronomers understand it today to get acquainted with the types of objects and distances you will encounter throughout the text. We begin at home with Earth, a nearly spherical planet about...
# Science and the Universe: A Brief Tour ## The Universe on the Large Scale In a very rough sense, you could think of the solar system as your house or apartment and the Galaxy as your town, made up of many houses and buildings. In the twentieth century, astronomers were able to show that, just as our world is made u...
# Science and the Universe: A Brief Tour ## The Universe of the Very Small The foregoing discussion has likely impressed on you that the universe is extraordinarily large and extraordinarily empty. On average, it is 10,000 times more empty than our Galaxy. Yet, as we have seen, even the Galaxy is mostly empty space. ...
# Science and the Universe: A Brief Tour ## A Conclusion and a Beginning If you are new to astronomy, you have probably reached the end of our brief tour in this chapter with mixed emotions. On the one hand, you may be fascinated by some of the new ideas you’ve read about and you may be eager to learn more. On the ot...
# Observing the Sky: The Birth of Astronomy ## Thinking Ahead Much to your surprise, a member of the Flat Earth Society moves in next door. He believes that Earth is flat and all the NASA images of a spherical Earth are either faked or simply show the round (but flat) disk of Earth from above. How could you prove to ...
# Observing the Sky: The Birth of Astronomy ## The Sky Above ### Learning Objectives By the end of this section, you will be able to: 1. Define the main features of the celestial sphere 2. Explain the system astronomers use to describe the sky 3. Describe how motions of the stars appear to us on Earth 4. Describe h...
# Observing the Sky: The Birth of Astronomy ## Ancient Astronomy ### Learning Objectives By the end of this section, you will be able to: 1. Describe early examples of astronomy around the world 2. Explain how Greek astronomers were able to deduce that Earth is spherical 3. Explain how Greek astronomers were able t...
# Observing the Sky: The Birth of Astronomy ## Astrology and Astronomy ### Learning Objectives By the end of this section, you will be able to: 1. Explain the origins of astrology 2. Explain what a horoscope is 3. Summarize the arguments that invalidate astrology as a scientific practice Many ancient cultures regar...
# Observing the Sky: The Birth of Astronomy ## The Birth of Modern Astronomy ### Learning Objectives By the end of this section, you will be able to: 1. Explain how Copernicus developed the heliocentric model of the solar system 2. Explain the Copernican model of planetary motion and describe evidence or arguments ...
# Orbits and Gravity ## Thinking Ahead How would you find a new planet at the outskirts of our solar system that is too dim to be seen with the unaided eye and is so far away that it moves very slowly among the stars? This was the problem confronting astronomers during the nineteenth century as they tried to pin down...
# Orbits and Gravity ## The Laws of Planetary Motion ### Learning Objectives By the end of this section, you will be able to: 1. Describe how Tycho Brahe and Johannes Kepler contributed to our understanding of how planets move around the Sun 2. Explain Kepler’s three laws of planetary motion At about the time that ...
# Orbits and Gravity ## Newton’s Great Synthesis ### Learning Objectives By the end of this section, you will be able to: 1. Describe Newton’s three laws of motion 2. Explain how Newton’s three laws of motion relate to momentum 3. Define mass, volume, and density and how they differ 4. Define angular momentum It wa...
# Orbits and Gravity ## Newton’s Universal Law of Gravitation ### Learning Objectives By the end of this section, you will be able to: 1. Explain what determines the strength of gravity 2. Describe how Newton’s universal law of gravitation extends our understanding of Kepler’s laws Newton’s laws of motion show that...
# Orbits and Gravity ## Orbits in the Solar System ### Learning Objectives By the end of this section, you will be able to: 1. Compare the orbital characteristics of the planets in the solar system 2. Compare the orbital characteristics of asteroids and comets in the solar system Recall that the path of an object u...
# Orbits and Gravity ## Motions of Satellites and Spacecraft ### Learning Objectives By the end of this section, you will be able to: 1. Explain how an object (such as a satellite) can be put into orbit around Earth 2. Explain how an object (such as a planetary probe) can escape from orbit Newton’s universal law of...
# Orbits and Gravity ## Gravity with More Than Two Bodies ### Learning Objectives By the end of this section, you will be able to: 1. Explain how the gravitational interactions of many bodies can causes perturbations in their motions 2. Explain how the planet Neptune was discovered Until now, we have considered the...
# Earth, Moon, and Sky ## Thinking Ahead If Earth’s orbit is nearly a perfect circle (as we saw in earlier chapters), why is it hotter in summer and colder in winter in many places around the globe? And why are the seasons in Australia or Peru the opposite of those in the United States or Europe? The story is told th...
# Earth, Moon, and Sky ## Earth and Sky ### Learning Objectives By the end of this section, you will be able to: 1. Describe how latitude and longitude are used to map Earth 2. Explain how right ascension and declination are used to map the sky In order to create an accurate map, a mapmaker needs a way to uniquely ...
# Earth, Moon, and Sky ## The Seasons ### Learning Objectives By the end of this section, you will be able to: 1. Describe how the tilt of Earth’s axis causes the seasons 2. Explain how seasonal differences on Earth vary with latitude One of the fundamental facts of life at Earth’s midlatitudes, where most of this ...
# Earth, Moon, and Sky ## Keeping Time ### Learning Objectives By the end of this section, you will be able to: 1. Explain the difference between the solar day and the sidereal day 2. Explain mean solar time and the reason for time zones The measurement of time is based on the rotation of Earth. Throughout most of ...
# Earth, Moon, and Sky ## The Calendar ### Learning Objectives By the end of this section, you will be able to: 1. Understand how calendars varied among different cultures 2. Explain the origins of our modern calendar “What’s today’s date?” is one of the most common questions you can ask (usually when signing a doc...
# Earth, Moon, and Sky ## Phases and Motions of the Moon ### Learning Objectives By the end of this section, you will be able to: 1. Explain the cause of the lunar phases 2. Understand how the Moon rotates and revolves around Earth After the Sun, the Moon is the brightest and most obvious object in the sky. Unlike ...
# Earth, Moon, and Sky ## Ocean Tides and the Moon ### Learning Objectives By the end of this section, you will be able to: 1. Describe what causes tides on Earth 2. Explain why the amplitude of tides changes during the course of a month Anyone living near the sea is familiar with the twice-daily rising and falling...
# Earth, Moon, and Sky ## Eclipses of the Sun and Moon ### Learning Objectives By the end of this section, you will be able to: 1. Describe what causes lunar and solar eclipses 2. Differentiate between a total and partial solar eclipse 3. Explain why lunar eclipses are much more common than solar eclipses One of th...
# Radiation and Spectra ## Thinking Ahead The nearest star is so far away that the fastest spacecraft humans have built would take almost 100,000 years to get there. Yet we very much want to know what material this neighbor star is composed of and how it differs from our own Sun. How can we learn about the chemical m...
# Radiation and Spectra ## The Behavior of Light ### Learning Objectives By the end of this section, you will be able to: 1. Explain the evidence for Maxwell’s electromagnetic model of light 2. Describe the relationship between wavelength, frequency, and speed of light 3. Discuss the particle model of light and the...
# Radiation and Spectra ## The Electromagnetic Spectrum ### Learning Objectives By the end of this section, you will be able to: 1. Understand the bands of the electromagnetic spectrum and how they differ from one another 2. Understand how each part of the spectrum interacts with Earth’s atmosphere 3. Explain how a...
# Radiation and Spectra ## Spectroscopy in Astronomy ### Learning Objectives By the end of this section, you will be able to: 1. Describe the properties of light 2. Explain how astronomers learn the composition of a gas by examining its spectral lines 3. Discuss the various types of spectra Electromagnetic radiatio...
# Radiation and Spectra ## The Structure of the Atom ### Learning Objectives By the end of this section, you will be able to: 1. Describe the structure of atoms and the components of nuclei 2. Explain the behavior of electrons within atoms and how electrons interact with light to move among energy levels The idea t...
# Radiation and Spectra ## Formation of Spectral Lines ### Learning Objectives By the end of this section, you will be able to: 1. Explain how emission line spectra and absorption line spectra are formed 2. Describe what ions are and how they are formed 3. Explain how spectral lines and ionization levels in a gas c...
# Radiation and Spectra ## The Doppler Effect ### Learning Objectives By the end of this section, you will be able to: 1. Explain why the spectral lines of photons we observe from an object will change as a result of the object’s motion toward or away from us 2. Describe how we can use the Doppler effect to deduce ...
# Astronomical Instruments ## Thinking Ahead If you look at the sky when you are far away from city lights, there seem to be an overwhelming number of stars up there. In reality, only about 9000 stars are visible to the unaided eye (from both hemispheres of our planet). The light from most stars is so weak that by th...
# Astronomical Instruments ## Telescopes ### Learning Objectives By the end of this section, you will be able to: 1. Describe the three basic components of a modern system for measuring astronomical sources 2. Describe the main functions of a telescope 3. Describe the two basic types of visible-light telescopes and...
# Astronomical Instruments ## Telescopes Today ### Learning Objectives By the end of this section, you will be able to: 1. Recognize the largest visible-light and infrared telescopes in operation today 2. Discuss the factors relevant to choosing an appropriate telescope site 3. Define the technique of adaptive opti...
# Astronomical Instruments ## Visible-Light Detectors and Instruments ### Learning Objectives By the end of this section, you will be able to: 1. Describe the difference between photographic plates and charge-coupled devices 2. Describe the unique difficulties associated with infrared observations and their solutio...
# Astronomical Instruments ## Radio Telescopes ### Learning Objectives By the end of this section, you will be able to: 1. Describe how radio waves from space are detected 2. Identify the world’s largest radio telescopes 3. Define the technique of interferometry and discuss the benefits of interferometers over sing...
# Astronomical Instruments ## Observations outside Earth’s Atmosphere ### Learning Objectives By the end of this section, you will be able to: 1. List the advantages of making astronomical observations from space 2. Explain the importance of the James Webb and Hubble Space Telescopes 3. Describe some of the major s...
# Astronomical Instruments ## The Future of Large Telescopes ### Learning Objectives By the end of this section, you will be able to: 1. Describe the next generation of ground- and space-based observatories 2. Explain some of the challenges involved in building these observatories If you’ve ever gone on a hike, you...