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Quiz #1 Intro to Business Flashcards | StudBud
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Quiz #1 Intro to Business
Capitalism falls under which system
The social environment is the
Quiz #1 Intro to Business
40 terms
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Chapter 1 & 2
Flashcards
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Questions
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Answers
1
The social environment is the
The diversity and sexual orientation of the environment
The amount of open mindedness one has towards others
The specific characteristics of a population
diversity and characteristics of a specific population
2
Capitalism falls under which system
planned
communism
mixed
market
3
Profits are defined as
The amount of money you make in a business after expenses
The monetary value of your company
The total money you make in your business
The "net" of your company
4
A not for profit uses any revenue
toward travel fees
toward their expenses
toward their mission
toward advertisement
5
The Fed affects the total
Supply of money
interest rate decrease
fiscal policy
interest rate increase
6
Demand Curve
price rises as demand decreases
Price lowers as demand rises
prices lowers and demands decreases
prices rises as demand rises
7
There are how many types of competition
5
4
6
2
8
The fundamental concept of economics is
supply and demand
The ability to invest your money
income-expenses=revenue
Microeconomics & macroeconomics
9
Savvy businesses are taking advantage of the
population density
$8 trillion buying power of aging adults
$5 sub at subway on lunchtime
competition that other companies are missing
10
There are 3 economic systems they are
planned, market, and mixed
communism, market, and mixed
planned, capitalism, and mixed
planned, market, and socialism
11
The aging population is a part of the
green movement
society
social environment
globalization
12
Market price is determined
income and expense
supply and demand
by the need and the availability
by the amount of competition
13
Employers are starting to encourage employees to solve customer complaints on their own
allows employees to become more lazy
allows an employer to take more vacation time
tests employs leadership skills
this increases employee loyalty and job satisfaction
14
Competition is good because
weeds out bad companies
weeds out bad ideas
destroys the uniqueness of a town
weeds out expensive stores
15
What does a CPI do
none of these
It tracks the changes in supply
it tracks the changes in the price of goods & services
It tracks the changes in demand
16
More productivity = More revenue, which in turn =
Lower Pay for employees
Higher GDP
Higher out of country GDP
Lower GDP
17
The law of supply states
increase in demand = increase in supply and vise versa
lower demand = increase in supply and vise versa
supply and demand
lower demand = increase in supply
18
The selling and buying of bonds is known as the
Federal Funds rate
money supply
CPI
FED
19
disinflation is
decrease in inflation rate
rise of prices
none of these
lowering in prices
20
If the Fed starts selling bonds
interest rates go up
to support fiscal policy
to support CPI
interest rates go down
21
There are 3 economic indicators what are they
future, present, lagging
leading, coins, lagging
future, coincident, economic standing
leading, coincident, lagging
22
Where demand = supply is
the fundamentals of business
the basics of business
where prices are set
the definition of economics
23
deflation is
rise of prices
none of these
lowering in prices
decrease in inflation rate
24
Money supply has 3 categories they are
Cash, CDS greater than 100,000 and CDs less than 100,000
M1, liquid assets, M3
Eurodollars, M1, M3
Cash, Checks, Eurodollars
25
What is Real Capital
The physical dimension of your business
The amount capital you own in person
The total yearly revenue
The money funding part of the Capital
26
Supply curve
prices rises as demand rises
price rises as demand decreases
prices lowers and demands decreases
Price lowers as demand rises
27
What is done in an effort to smooth out the swing in the business cycle
decrease GDP
increase bonds
Fiscal Policy
increase money supply
28
Economics has 2 parts to it and they are
none of these
income and expense
supply and demand
Microeconomics & macroeconomics
29
The Green movement is
The idea of usable water bottles
The money funding the real capital
The physical dimension of your business
the idea of doing things to benefit the environment
30
Globalization is the movement toward
a world economy on a big scale
working with others
working with other governments
a more interconnected and interdependent world economy
31
Communism falls under which system
mixed
capitalism
Market
planned
32
If the Fed starts buying bonds
to support CPI
interest rates go down
To support GDP
interest rates go up
33
inflation is
rise of prices
none of these
decrease in inflation rate
lowering in prices
34
The CPI is
the consumer price informational
the consumer price index
the customer price index
the consumer prices informational
35
Technology is the
the single reason why a business fails
the way the world is leading
best thing that happened to business
highest expense for businesses
36
A competitive environment is one where
people make more money
mom and pop stores don’t exist
consumers get good deals
a free market economy thrives
37
GDP is
great domestic production
gross domestic product
gross dominant production
gross dominant product
38
What is Financial Capital
The physical dimension of your business
The money funding the real capital
The total yearly revenue
The money funding part of the Capital
39
Competition is bad because
weeds out bad ideas
weeds out bad companies
it increases consumers prices
It can destroy mom and pop stores that cannot compete
40
Technology used right can
save a business thousands and create more opportunities
see into the future
save money and allow people to work harder
increase tax deductions
