BME Midterm 2024

Using the Internet to do business is called _____________.

A quota limits the quantities of a product that can be __________________.

One of the disadvantages of having a partnership is ________________.

Protectionism is the practice of the gov. putting _____________________ on foreign trade to protect businesses at home.

The four Ps associated with the marketing mix are product, ______________, price, and promotion.

At the beginning of the 21st century, consumers top online purchases were _______________________.

The total amount of money a government owes is its __________.

A company that sells its products in stores, by mail, and online is called a/an ___________________.

Facts about populations are

The rise and fall of economic activity over time is called _________________.

The _________ point is where total revenues, or sales, equal total costs and expenses of dev. and offering a product.

Controlling, leading, organizing, and planning are the four _____________ of management.

In a command economy, key economic decisions are made by ____________________.

Most successful entrepreneurs have similar

The three basic economic questions begin with each word except _________________.

_____________ laws allow the federal government to take control of monopolies.

A lack of resources needed to go into producing goods and services is called ________________.

When a country exports more than it imports, it has a trade ____________________.

Commerce that involves business transactions in more than one state is called _______________.

When a downturn in one industry causes a downturn in another industry, it is called a _____________ effect.

The amount of goods that producers will provide at various prices is called the _______________.

Raw materials from nature are called ____________ resources.

The development of the global economy is called ________________________________.

A business that turns raw materials into finished goods is called a ______________.

Before starting a particular bus., an entrepreneur needs to determine if there is enough ______________ for the product.

Giving managers and employees the power to run things and make decisions is called ______________________.

A true leader is motivated by a vision and uses it to ____________________________.

A prototype is a ________________ of the actual product.

An organization that is owned and operated by its members is a _______________.

________________ businesses are the principle source of new jobs in the U.S.

The situation that occurs when a small number of companies control an industry is called a/an _________________.

Most bus. police themselves by setting & following this strict set of guidelines for maintaining ethics in the workplace

Over time, the U.S. has experienced four major economic _______________.

Most small businesses can be classified as a "small business" if it has fewer than _______________________.

Many managers begin their career in a/an _____________________.

Informal structure often works well for ____________________________.

What government agency protects consumers from dangerous or falsely advertised products?

Unemployment, Social Security, veterans' benefits are forms of ________________.

The government agency that guides the U.S. economy is the ______________

Most small businesses in the U.S. are owned and operated by ____________________.

One of the disadvantages of being a manager is high ______________.

A business that moves goods from one business to another is called a/an _________________.

What agency sets and enforces work-related health and safety rules?

The people who are most likely to buy a company's service are called the _______________ market

What did the Triangle Shirtwaist Factory Company fire spark the nation to examine?

Leadership means taking a company and its employees in a direction based upon a/an ____________________

Hands-off leadership is another name for _______________________________.

A company that gathers materials in their original state from natural resources is called a ________________.

The management function that requires managers to provide direction and vision is called ____________________.

Individuals who start and direct businesses to produce goods and services are called ____________ resources.

Maintaining and checking records, handling bills, and preparing financial reports for a bus. is called _______________.

The goods and services that China sells to other countries are China's __________________________________.

The most common form of business in the U. S. is ______________.

Businesses often call their stores and warehouses _________________.

The total value of goods and services produced in a country in a given year is called its _____________________.

What agency sets and enforces work-related health and safety rules?

Computers were first used only by _______________________________.

The easiest way to organize a business is as a ______________.