Intro to Business Final

Critical skills necessary to perform the required work-related tasks of a position are called:

When a financial product or valuable item is purchased with the goal of increasing wealth over time.

Creating long-term goals of an organization is called?

Anything of value that is accepted in return for goods or services is considered:

An expense that DOES NOT remain the same during a budget period

A business with the sole purposes of being productive and generating money for its owners:

The percentage of unemployed members of the civilian labor force (and actively seeking work).

The connection made among nations when economies freely move goods, labor, and money across borders is known as:

Bank account that allows the account owner to make deposits, write checks, and withdraw money.

Periods of alternating expansion and contraction in an economy are called:

The selling strategy that focuses on building long-term relationships with customers is called:

Goods, services, and capital that are brought into a country from outside its borders are called:

The process of dividing the market into smaller groups is known as:

The gathering and analyzing of information about a business.

The document that describes business and marketing objectives and the strategies and tactics to achieve them:

What is the structure of a company from the highest to the lowest levels?

A business that is owned and operated by a single individual:

A proposal to provide a good or service.

Anything that is bought or sold:

Consists of dynamic activities that identify, anticipate, and satisfy customer demand while also making a profit:

Customers who buy products to be used in a business make up the (BLANK) market.

When a business sells the right to manufacture its products or use its trademark:

An organization that exists to serve some public purpose is called:

Private investors who fund start-up businesses:

The act of putting money into an account is called:

The process of willingly risking resources to start and run a business in pursuit of profit.

Involves sending and receiving messages between people of different cultures:

A customer who purchases products for personal use:

Analyzing a situation, interpreting information, and making reasonable decisions is the ability to use:

Lowest hourly wage employers can pay most workers by law.

The market value of all final products produced in a country during a specific time period:

The process of taking money out of a bank account:

The process of controlling and making decisions about a business.

Something a person requires to survive:

Used to regulate how contracts are written, executed, and enforced.

The understanding that the price of a product is determined by the relationship of supply and demand:

A sign that the economy is weakening is when the rate of (BLANK) is below average:

Plastic card that allows the holder to make credit purchases up to an authorized amount.

Left over money that a business has after all the expenses and costs of operation are paid:

Promoting the welfare of others:

Income received from employment or from self-employment.

The (BLANK) market is a specific group of customers whose needs a company will focus on satisfying:

A business that buys product from wholesalers or directly from producers and sells it to consumers to make a profit:

What is the ability to influence others to reach a goal?

Shared beliefs, customs, and social behavior of a particular group or nation

The movement of money into and out of a business:

An agreement that is legally binding between two or more people or businesses:

The general rise in prices throughout an economy:

A person's ability to legally enter into a binding agreement:

An expense that remains the same during a budget period.