Principles of Business Final Review

Which of the following definitions represents the term revenue?

• The total amount of money it takes a company to acquire customers.

• The amount of money that a company pays it's employees.

• The total amount of money brought in by a company's operations, measured over a set amount of time.

• The amount of money a company spends on their resources.

Which of the following best defines the term asset?

• Something that holds value.

• Something that subtracts value from a company.

• Something an entrepreneur has to pay for.

• Something that hurts a company.

Which word does the following definition represent? A plan you write down to decide how you will spend your money each month.

• Debit

• Stock Purchasing

• Budget

• Credit

Which word does the following definition represent? The state of being responsible for something, and this term can refer to any money or service owed to another party. 

• Liability

• Asset

• Insurance

• Balance Sheet

Which of the following definitions best represents the term Target Market?

• A group of people who sell a product.

• A particular group of consumers at which a product or service is aimed.

• A particular group of people that produce a product or service.

• Anyone who buys a product.

Which word does the following definition represent? The process of making a product or service available for the consumer or business user who needs it.

• Pricing

• Exchanging

• Distribution

• Advertising

What is the best definition for the term advertising?

• 
  An industry or activity that manages employees during their work day.

• An activity that focuses on shipping resources.

• An activity that involves collecting resources to use in production.

• An industry or activity used to call the attention of the public to something, typically a product or service.

Which word does the following definition represent? The amount that consumers will be willing to pay for a product.

• Promotion

• Advertising

• Price

• Marketing

Which definition best represents the term cost?

• Value of money that consumers use for shipping and handling fees.

• The amount of money a customer pays to buy a grocery.

• The amount of money that customers use to travel to the store.

• Value of money that has been used to produce something or deliver a service.

Which term below best describes the following definition? The manufacturing of large quantities of standardized products, often using assembly lines or automation technology.

• Mass Production

• Custom Production

• Detailed Manufacturing

• Custom Manufacturing