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Intro to Business First Quarter Final Flashcards | StudBud
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Intro to Business First Quarter Final
Intro to Business First Quarter Final
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36 cards
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Questions
36
Answers
1
The First step in Business Activity is
Identify/Evaluate
Obtain Start-up Money
Record Keeping
Production of Goods and Services
2
Mr. B lived in what other Country
Germany
Nigeria
Kenya
Russia
3
The _______________ is a business owned/operated by its members to save money on the purchase of goods and services.
Partnership
Co-op
Corporation
Sole Proprietorship
4
When we give a certain trait to a entire group of people and say it true about all of them
stereotype
Bias
discrimination
racism
5
Which eras in history of business was described by focusing on efficiency and transitioning from hand to machine
Production Era
Entrepreneurship Era
Relationship Era
Industrial Era
6
The most common type of business organization in the U.S. Over 73% of businesses in the U.S are organized this way
Franchise
Partnership
Sole Proprietorship
Non-Profit
7
The first step and last step of the decision making process are....
Identify and Evaluate
Evaluate and Look at the Pros and Cons
Consider the Alternatives and Look at Pros and Cons
Make a Decision, Evaluate
8
Attitude in favor of or against one thing, person or group compared to another, usually in a unfair way
Bias
Discrimination
Racial Profiling
Stereotype
9
The amount of goods and services that consumers are willing to buy at various prices
Capitalism
Economics
Demand
Supply
10
What is the most important part of a Business being successful
Building Community
All of the above
Servant Leadership
Creating a positive enviroment
11
A person who uses goods and services
Competition
Business
Consumer
Purchase
12
Socialism and Communism are included in Planned Economics
True
False
13
The only constant in the business world is
Change
Goverment
Taxes
Inflation
14
One of the mixed economic system whereby the government answers the economic questions is called?
Democracy
Capitalism
Competition
Command Economy
15
most nations have mix economy
True
False
16
Business trends that could allow a businesses to use tech that would allow you try on clothes in the metaverse
Understanding Millennials/Gen Zers
Robolove
Virtual Experiences AR/VR
a) Developing Instant Skills
17
The contest between businesses to win customers
Sales fight
Competition
Marketing
Business contest
18
The point at which the quantity demanded and quantity supplied meet is equilibrium
True
False
19
When trying to make systematic change leaders should focus on
Ceate new policies
Focus on the right people being a part of the team
Creating new and innovative marketing materials
Increase salaries to motivate employees
20
____________ satisfy your wants and needs for material things that you can see or touch
Needs
Goods
Wants
Services
21
Which of the functions of business involves planning, pricing, promoting, selling distributing,ideas, goods and services
Marketing
Production
Management
Finance
22
The amount of goods and services that producers will provide at various prices
price
equilibrium
Supply
Demand
23
Why is competition beneficial to consumers?
better prices
new and innovative products
all of the above
better products
24
Service businesses employ 3/4 of the workforce.
False
True
25
____________ is
how individuals and groups of individuals strive to satisfy their needs and wants by making choices
Economics
Market Research
Marketing
Finance
26
When Sales (Revenue) from the business are greater than Expenses (Costs of Goods sold) to run the business
Cash
Business
Profit
Wages
27
Which business trends focus on consumers who were born between 1980-1995
Developing Instant Skills
Virtual Experiences AR/VR
Virtual Experiences AR/VR
Understanding Millennials/Gen Zers
28
_______________ are the things that you wish you could have
Services
Wants
Goods
Gifts
29
The mixed economic system whereby the individuals answer the economic questions is called capitalism
True
False
30
Which words means To put yourself in someone else's shoes and attempt to feel how they feel
Stewardship
Awareness
Persuasion
Empathy
31
Any commercial organization or activity that provides goods or services in an effort to earn a profit.
Capital
Business
Franchise
Workforce
32
The gathering and analysis of information on the size, location, and product market is called
Market research
Market competition
Strenghts
Consumer Needs Assessment
33
Uber and Airbnb are two examples of companies focused on connecting buyers and sellers.
True
False
34
Non Profits Agencies
Focus on the quality of life in our Society
Take in Revenue
All of the Above
Produce Goods and Services
35
The Factors of Production Include Natural, Capital, Entrepreneurial and
Marketing
Accounting
Money
Human
36
Government promoting free trade and try to halt unfair trade practices are a part of
Democaratic Socialism
Communism
Dictatorship
Capitalism
