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Business II End of Course Review Flashcards | StudBud
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Business II End of Course Review
Business II End of Course Review
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#Business II
Flashcards
34 cards
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Practice quiz
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Questions
34
Answers
1
Distribution of earnings to the stockholders of a corporation
Dividends
Annuities
Mutual Funds
Stock Price
2
Socialistic Economy
Gov't has mixed control over the 4 factors of production
Gov't. has control over most major industries
Gov't has complete control over all 4 factors of production
Gov't has their hands free of the 4 factors of production
3
Limited Partner
Both Unlimited Liability & a person who only invests capital
Limited Liability
A person who only invests capital in a partnership
Unlimited Liaility
4
A person who buys a product
Clown
Customer
Consumer
Costumer
5
Economic Utility created by marketing activities add value. What are the 4 types of utility?
Financial, Human, Material, Information
Land, Capitol, Gov't, Material
Place, Time, Information, Possession
Product, Price, Place, Promotion
6
Association of 2 or more bus. owners of the same type of bus. to support mrktg & distribution
Joint Venture
Vertical Venture
Slogan
Voluntary Association or Cooperative
7
The 4 types of Economic Utility
Cash, Coins, Revenue, Profit
Place, Time, Information, Posession
Banking, Corporations, Government, Internet
Place, Profit, Price, Product
8
What there is not enough of a resource to satisfy all the needs
Supply and Demand
Opportunity Cost
Scarcity
Plethora
9
The way individuals, businesses, society, & gov't deal with creation & dist. of wealth
Vertical Venture
Corporate Charter
Economics
Economy
10
Marketing Mix changes
economy, employees, values
number, quantity, product
number, quality, price
Business model, attitudes, profit
11
Land & Natural Resources, Labor, Capital, and Entrepreneurship
4 Market Industries
4 Factors of Production
4 Target Markets
4 Economic Utilities
12
A governmental economy that allows private owndership
Command
Corporation
Market and mixed
Sole Proprietorship
13
A legal document issued by the secretary of state that approves a corporation
Articles of Incorporation
Corporation
Business Objective
Corporate Charter
14
A legal document that describes the purpose of the corporation
LLC Agreement
Articles of Incorporation
Joint Venture
Corporate Chater
15
The study of how wealth is created
Economics
Psychographics
Economy
Business Objective
16
The _____ of a decision is the value of the good or service forgone
Efficiency
Opportunity Cost
Supply and Demand
Scarcity
17
When a business sells single items to individual customers
E-Commerce
Retailer
Brick and Mortor
Wholesaler
18
SWOT Analysis provides insight into what areas of a company?
Strengths, Wholesalers, Opposition, Trade Agreements
Sustainability, Weaknesses, Offers, Threats
Sustainability, Wholesalers, Offers, Trade Agreements
Strengths, Weakness, Opportunities, Threats
19
Unlimited Liability
Wholesalers and Retailers
Corporations and Partnerships
LLC's and Sole Proprietors
Sole Proprietors and Partnerships
20
Capitalistic Economy
Gov't has mixed control over the 4 factors of production
Gov't. has control over most major industries
Gov't has complete control over all 4 factors of production
Gov't has their hands free of the 4 factors of production
21
4 P's of Marketing
Progress, Planning, Prioritizing, Price
Property, Profit, Plaster, Paint
Pretending, Predicting, Placing, Practicing
Product, Place, Price, Promotion
22
Marketing Concept says business must satisfies customers ________ in order to make a __________
needs, profit
wishes, car
needs, loss
hunger and thirst
23
What 4 resources are necessary to run a business successfully?
Integrity, Excellence, Respect, Character
Product, Price, Place, Promotion
Information, Materials, Human, Financial
Building, Inventory, Employees, Business License
24
Using the answer to Question 21. and Keystonning, How much would you charge your customer?
$0.60
$6.00
$6.66
$0.66
25
Command Economy
Gov't has complete control over all 4 factors of production
Gov't has their hands free of the 4 factors of production
Gov't. has control over most major industries
Gov't has mixed control over the 4 factors of production
26
Economic Utility means
Internet
Natural Gas
Value Added
Electricity
27
Development + ________ + Distribution= Happy Customer
Promotion
Web Adds
Amazon
Social Media
28
The stockholders vote in the following group of people in a publically traded corporation
Board of Directors
Presidents of Depatments
Employees
Executive Officers
29
When analyzing your target market you should consider what?
Psychographics
Geographics
Demographics
Demographics, Psychographics, and Geographics
30
SWOT
Silent, Weightless, Opportunities, Trending
Satisfied, Workable, Outstanding, Trade
Strengths, Weaknesses, Opportunities, and Threats
Strong, Workable, Oppressive, Tangible
31
A business entity with most legal rights as an individual (artificial being)
Limited Partner
LLC
Corporation
Sole Proprietor
32
Why are Business Plans Necessary?
All three answers are correct
Analyze potential target markets
To obtain a small business loan
Have a clear objective for entering into a particular bus.
33
24 bags of chips cost $8.00. What is the unit cost?
$3.33
$0.33
$0.30
$3.00
34
Wholesaler
Describes stores like Walgreens & Target
A person who studies how wealth is created
A business that purchases products in bulk
Purchaser of large amounts of stock
