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Intro to Business - Unit 1 Flashcards | StudBud
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Intro to Business - Unit 1
What is an entrepreneur?
What is Departmentalization?
Intro to Business - Unit 1
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1
What is Departmentalization?
To make optimum use of resources
It allows organizations to simultaneously work on various projects and task
When individuals are grouped into departments.
2
What is an entrepreneur?
Someone who organizes a business
someone who operates a business
A farmer
Body guard
3
What does efficiency mean?
Employing the function of organizing to achieve goals
Individuals grouped into departments
The extent to which time is well used for the intended task
Something that one uses to achieve an objective
4
What is the process managers use to transfer authority and responsibility to positions below them?
Specialization
Division
Management
Delegation
5
what is gdp
grass development plan
grandmas dead plant
gov. Development place
Gross domestic profit
6
What does this example show? Raw material or an employee
Goals
Resource
Departments
Efficiency
7
what is a business output
Product
Profit
Materials
Employees
8
What is the Total federal deficit
Fiscal Policy
National debt
Depression
Gross domestic Growth
9
what state are over 90% of the patent trolls in
Texas
arkansas
washington
belgium
10
What is specialization?
the process managers use to transfer authority and responsibility to positi
the extent to which time is well used for the intended task
a specific task is assigned to a designated expert in a field
assigning specific tasks to a specific individual or group
11
What is a demand?
Measured by the gross domestic growth
relationship between prices and quantities by a producer
Quantity of goods for sale
relationship between prices and quantities by a buyer
12
Which phase of the business cycle is GDP declining and unemployment rising
Peak
Trough
Contraction
Expansion
13
What is a stockholder?
Customers
Owns stock in the company
Owns the company
Employees
14
What is the primary purpose of a business?
Corporate social responsibility
Corporate
Stakeholder
Maximize profits
15
What is a nonprofit organization?
Business that makes good profit
Something you never have to pay for
organization dedicated to furthering a particular social cause
Charity
16
What does stakeholders mean?
Employee/Customer
companies that make stake
owns the company
holds a stock in the company
17
when a gdp reaches maximum it is a
demo
Peak
max
destiny
18
What place is the U.S. in the rank of countries by GDP
3
1
10
5
19
The philosophy of organization is centered on the concepts of _____?
Departmentalization and organization
Resources and orientation
Specialization and division of work
Delegation and efficiency
20
What is marketing
Everything that a company does to identify customers needs and designs prod
Measuring, summarizing, and communicating financial and managerial informat
Planning for, obtaining and managing a company's funds
