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Business Midterm Quiz Flashcards | StudBud
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Business Midterm Quiz
Business Midterm Quiz
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25 cards
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25
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1
Choose an example of inflation. Ch. 3
The pricing of products in the U.S. have gone up due to inflation.
Prices world wide have gone down over the years.
U.S. cost on almost all products is a couple cents more expensive.
The cost of items in Spain have decreased because of new leadership.
2
What are demographics? Ch. 3
Facts about how many people are in the u.s.
Facts about how many people inhabit the planet.
Facts about the population.
Facts about how many people are in the capital of a country.
3
How do you market something? Ch. 3
You create, promote, and present the product.
You promote, and present your product.
You advertise your product for people too see and make them want it.
You make promote, and present the product.
4
What is one basic Employability skill? Ch. 20
Level of schooling.
Simple skills.
Body language.
Your looks.
5
What is a test market? Ch. 13
Testing to see if a product will sell well
Testing to see if a product is working.
Testing a product out.
Testing to see if selected people would like a product.
6
What are capital resources? Ch. 4
Things used to produce goods and service’s like buildings.
Things used to produce goods and needs for the business itself.
Things used to make customers happy.
Things used to help a business make more money so people have more service.
7
Who is an example of an entrepreneur? Ch. 3
Bill Gates
Steve Jobs
Henry Ford
MR. LAIRDDDDDDDDDDD
8
What does GDP stand for? Ch. 13
General Demand Product.
Grass Domestic Product,
Gross Domestic Product.
General Driven Product.
9
What is supply and demand? Ch. 3
Supply = amount of goods provided. Demand = how much people want of it.
Supply = amount of money that is provided. Demand = how much people want.
They’re the same thing
Supply = how much goods are provided. Demand = how much people dont want.
10
Whats an example of a natural resource? Ch. 1
Raw materials from nature used to produce goods.
Raw material from nature
Raw material thats used to specifically make services
Raw material from nature that is used to produce money.
11
What’s the difference between wants and needs? Ch. 1
Wants = have to have. Needs = kinda need.
Wants = don’t really have to have. Needs = also don’t really have to have
Wants = should never have. Needs = should always have.
Wants = dont need to have. Needs= have to have.
12
What is a service? Ch. 1
Tasks performed for consumers by businesses that aren’t nessasary.
Tasks that NEED to be done for consumers.
A task performed by a business to make consumers not come back.
A task that businesses perform for consumers.
13
What is scarcity? Ch. 3
Lack of customer satisfaction.
Lack of consumers in a business.
Lack of services for a business.
Lack of resources for a business.
14
What’s an average masters degree salary? Ch. 21
$50,000
$75,000
$55,000
$60,000
15
What is an example of an Extracurricular activities? Ch. 21
Running
Doing extra work for your job.
Basketball.
Working at McDonalds.
16
Why are factors of production so important? Ch. 3
Because they are the economic goods needed to produce society’s resources.
They are necessary for customers wants and needs to keep a business going.
Because they are the economic resources needed to produce society’s goods.
They provide all of the money for a business to keep it up and running.
17
What is advertising? Ch. 14
Public promotion for a celebrity.
Promotion for a product or service.
Public promotion for a product or service.
Private promotion for a product or service.
18
What’s one thing that cold help you with your overall impression at a job interview? Ch. 21
Sitting up straight.
Dazing off.
Telling them about your life and everything about it.
Making eye contact.
19
What’s an example of an equilibrium price? Ch.3
Supply and demand are equal
Demand is just a little more than the supply
Supply is a little bigger than the demand
Supply and demand aren’t equal
20
What’s an average bachelor’s degree salary?
$43,000
$56,000
$47,000
$41,000
21
What are economics? Ch. 2
How individuals cooperate with businesses to get what they need.
How individuals strive to satisfy their needs by making choices.
How individuals make choices to get the money they need and want.
How individuals strive to satisfy their needs and money by making choices.
22
Name the four stages of the business cycle, IN ORDER. Ch. 3
Recession, prosperity, depression, recovery.
Depression, recovery, prosperity, recession.
Prosperity. Recession, depression, recovery.
Recovery, depression, recession, prosperity.
23
What are member of a mass media called? Ch. 14
Subscribers (subs)
Media
Followers
Medium
24
What is direct distribution? Ch. 3
Goods are sold directly to anyone who makes an early purchase.
Goods are sold directly to a customer.
Good are sold directly to consumer.
Goods are sold directly to a Celebrity.
25
What is Market Research? Ch. 2
Gathering info about what the food market needs in its store.
Gathering information about how the market really works.
Gathering info about consumer wants and needs.
Gathering data on what a business needs
