stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Intro to Business Exam Flashcards | StudBud
Explore
/
Intro to Business Exam
Intro to Business Exam
50 terms
·
StudBud Administration
·
6 plays
Study
Flashcards
50 cards
F
Practice quiz
P
Host live
L
Questions
50
Answers
1
Who doesn't satisfies private wants and needs?
State
Businesses
Friends/Family
Yourself
2
Why do most entrepreneurships fail?
Lost money
Get sued
Bad workers
Give up
3
Product, price, promotion, and place
relationship marketing
marketing mix
market
target market
4
A person who selects, purchases, uses, or disposes a goods/services.
Competiton
Buisiness
Profit
Consumer
5
Example of Human Resources (knowledge, effects, and skills brought to work)
pensil
selling oil
drilling oil
cookie
6
Amount of money company need make on a product to pay for its cost.
market research
marketing
Break even point
direct distribution
7
Why are small businesses important?
Provide us mayjor wants
Owners are nice
B/c employ 50% of our work force
They are small
8
Authority in 1 place, with top management
decentrealized
centrealized
9
example of conflict of interest
worker is late
losing money
Raise price b/c expect stealers.
customer hurt
10
Doing whats right when no one is watching?
Responcibility
Being nice
Truth
Integrity
11
operational manager?
cashregister
office manager
crew leader
supervisor
12
Can be physically weighed or measured?
Wants
Goods
Needs
Resources
13
advantage to partnership?
Split profit
more money to invest
responcible for partners actions
Have more sets of skills
14
things people are devoted too
hissssss
morals
ethics
business ethics
15
Top level manager?
Manager
CEO
President
Vice President
16
Characteristics of a small business
challenging
independent
bad owner
many workers
17
What is not a basic economic question?
What is an economic system?
Who needs the system?
Wha is i's primary goal?
Where is Megan?
18
Example of Entrepreneurial Resorce (Create/improve reasorces or way we use them)
factory assembly line
something else
insect resitiant corn
parade
19
Things you wish to have?
Wants
Goods
Resources
Needs
20
Whats a disadvantage to a sole proprietorship?
keep all profits
taxes low
Responcible for everything
Easy to start
21
Any activity that seeks profit by providing goods/services to others
Consumer
Profit
Competition
Business
22
What is a disadvantage of a Market Economy?
Competiotion may be better than you
Profit motive
Consumers determine demand
Freedo in sarting business
23
What is not a part of the essential elements of a business plan? Pt1
Description of products and services
Profit
Summary
Company Description
24
Necessary wants?
Services
Wants
Goods
Needs
25
What is a disadvantage of a Mixed Economy?
Provide wants and needs
Some gov regulations
Best way to manage reasorces
Gov provides saftey
26
Set of moral principals by wich people conduct themselves.
Ethics
Cats
Morals
Business Ethics
27
Anything that can be used to make what the people want/need?
Services
Want
Resources
Good
28
Prosperity is at.
8
amplitude
Crest
2
29
Example of Capital resources (Anythin used to produce good/services)
Megan
supermarket
delevery truck
Megan
30
What is not part of the 5 step decision making process?
give up
evaluate decision
Determine pros and cons, make best decision
Identify the problem, list the alternatives
31
Set of guidelines about how business should work itself.
morals
ethics
business ethics
meow
32
Duty to do what is best for the good of society
respocibility
cash
social responcibility
money
33
Autocratic leadership?
everyone is equal
with partner
multiple partners
Ran by yourself
34
The contest between businesses to win customers
Consumer
Business
Profit
Competition
35
Who is 1st priority
no one
yourself
customer
boss
36
Who doesn't satisfy public wants and needs?
Family/Friends
State
Local Gov
Federal Gov
37
disadvantage of corporation?
cost more to form
limited liability protection
double taxation
can raise additional funds
38
What is a disadvantage of a Command Economy?
little choice of what to by
provided with a job
less crime
state provides health care
39
amount of money after a business has paid for the cost of producing its goods/services.
Consumer
Competition
Business
Profit
40
Recovery is at.
8
trough
crest
4
41
What is not a part of the essential elements of a business plan? Pt2
Marketing plan
Legal plan
Stock plan
Management plan
42
Recession isn't at.
4
amplitude
2
6
43
What does a management plan do?
helps choose a manager
keeps bad customers away
tells workers wat to do
Helps manager to getthings done in a orderly fashion
44
Task that someone or something preforms?
Good
Need
Want
Service
45
What is not a part of the essential elements of a business plan? Pt3
Counting plan
Financial plan
Recovery plan
Reveiwing plan
46
Depression is at.
crest
0
trough
6
47
Advantages of being an entrepreneur?
Pay all taxes
Control hours
Financially responsible
Own boss
48
Example of Natural Resources (Raw material found in nature)
wheat
driving
eating
coal
49
Middle manager?
department heads
regional manager
shelf stocker
Plsnf manager
50
How many small businesses exist in the US?
25 mill
10 mill
20 mill
15 mill
