MP Free Enterprise

During the ______ process, Managment establishes objectives and strategies.

Private enterprises always go bankrupt in the first year of operation.

Domestic businesses always sell more products than their Global competitiors.

_____ is the willingness and ability of consumers purchase goods or services.

______ is the process of achieving goals by planning, organizing, and controlling.

A ______ is a document granting an inventor sole rights to an item or idea.

IP Law Firms ensure others do not use their clients patents, trademarks, and copywritten materials.

_____ is the amount of goods that producers are willing to make and sell.

A ____ happens when supply exceeds demand.

Which business function would play a role in running ads in a newspaper for a grocery store?

______ is the discipline that keeps track of a company's financial situation.

A ______ can be a name that identifies a product that is registered and has legal protection.

Nonprice competition focuses on all of the following except...

A retailer buys goods from wholesalers or directly from manufactures and sells them to...

If someone purchases an item that is on sale but is 30 miles away from their house, this is...

Elements of intellectual property include all of the following except...

A wholesaler is also known as a distributor.

Private enterprises also have the freedom to lose money.

While ______, Managment analyzes budgets and suggest cost-effective measures.

Businesses can be categorized by size, purpose, and their industry.

Profts are usually high when sales are ____ and costs are ____

Management is primarly focused on all of the following except...

All of the following are acceptable purposes of companies except...

A _____ is the money earned from a transaction after all costs and expenses are deducted.

Production & Procurment may obtain milk and cereal for a grocery store.

Copyrights to a song are protected for the life of the singer plus....

_____ are businesses that sell its products in more than one country.

Wholesalers often get better deals on orders from vendors because they buy in bulk.

Management would most likely be in charge of scheduling employees.

The Marketing Department always prepares balance sheets for a company.

A _____ business seeks to make a profit.

Freedom to take risks, make a profit, and own property are elements of private enterprise.

______ is the function of a business that involves managing money.

When referring to private enterprises, IP is short for Intellectual Property.

_____ is when ordinary people own a business, not the government.

A ____ happens when demand exceeds supply.

A _____ is an element of intellectual property rights associated with books, songs, or artwork.

Price competition focuses on...

Businesses can be categorized by the number of employees they have as well as their revenues.

Supply and demand tend to move in opposite directions.

While ______, Managment schedules employees and delegates responsibilities.

______ are businesses that sell its products in its own country.

A _____ organization uses money it makes to fund its cause identified in its charter.

Elements of private enterprise include all of the following freedoms except...

______ is the process of creating, growing, manufacturing, or improving products.

All of the following are functions businesses except...

Patents can protect goods and services up to 20 years.

An _____ is a group of businesses primarly engaged in producing similar products for similar people.

Government-financed agencies operate in the...

If someone buys a product based on the high level of customer service they receive, this is...