Intro to Business Sem 1 part 1

Front

What drives the economy? Options: goods and services, competition, resources, consumers' wants and needs

Back

consumers' wants and needs

Front

Which is NOT true of business? They pay taxes and provide jobs, The wealth they create benefits the entire community, They are rewarded with profits by satisfying consumers, They can survive without profits

Back

They can survive without profits

Front

Which best describes a corporation?

Back

business registered by the state and operates apart from its owners

Front

What is unlimited liability?

Back

owner is responsible for all the company's debts

Front

Which function of management would be best described as influencing, guiding, and directing people under one’s management to carry out their assigned tasks​?

Back

leading

Front

Which function of management would be best described as setting long term and short term goals and the plans for meeting those goals?

Back

planning

Front

What is something that an ideal leader is able to do?

Back

inspire others

Front

A group of customers who share common wants and needs.

Back

market

Front

Point at which total sales equals total cost of production

Back

break-even point

Front

A public promotion of a product or service would be known as which of the following? mass media, communication, medium

Back

advertising