Intro to Business - Semester Final Review

The written design of a new business that describes all aspects of that business.

Raw materials used to produce goods are called:

Social responsibility of a business is the obligation to do what is best for the company.

The activity that seeks profits by providing goods and services to customers.

An economy where the central authority makes all of the key economic decisions.

The process of planning, pricing, promoting and selling goods to satisfy customers.

Most businesses and professions do not have their own code of ethics.

What happens when consumers want goods/services at a specific price:

Highways, drinking water, parks and education are examples of:

The abbreviation used to identify a company on the stock market is called:

The US economy is:

Private wants are wants shared by many people and satisfied by the government.

Which function of marketing involves moving goods from one place to the consumer:

Logos are short messages, usually 7 words or less, used by companies to help consumers remember

Anything you can use to make or obtain what you want or need is called:

The verdict is the document or materials shown in court as evidence.

Who you are when you select, purchase, and repeatedly use a particular good/service.

The US is so rich in resources, we do not need to trade with other countries.

Ethics is a set of moral principles by which we live by.

Stock exchange that conducts all of its trading electronically.

An important quality of an entrepreneur is to procrastinate and depend on others.

The use of surveys and taste tests to find out what consumers like is called:

These factories have unsafe working conditions, pay poorly and treat workers badly.

The final stop in the channel of distribution which sells directly to the consumer:

Changes in technology have created new jobs, products and how consumers shop.

The color commonly used in advertising for corporate businesses is:

Investing in the stock market guarantees big profits.

The agency that sets and enforces work-related health and safety rules:

This government agency bans discrimination against persons with physical/mental disabilities.

Extra money awarded to a plaintiff to make up for a particular loss.