Business Management Part 2 Final

Front

In economics, what is the amount of a good or service offered for sale?

Back

supply

Front

In economics, what is the desire of purchasers, consumers, clients, employers for a
particular commodity (good) or service?

Back

demand

Front

As the cost to make a good goes up so does the

Back

price

Front

In economics terms, what is the state of being in short supply known as?

Back

scarcity

Front

is the rate of increase in prices over time

Back

inflation

Front

A wide spread, prolonged downturn in economic activity for two or more months is known as

Back

recession

Front

PEST Analysis is an example of strategic or long term planning. Which two are good examples of long term planning: SWOT & PEST, SWOT & PETA, SWOP & PEST, SWOP & PETA?

Back

SWOT & PEST

Front

Budgets, Calendars, Policies & Procedures are all tools for short term planning also known as

Back

operational planning

Front

These are examples of characteristics, advantages, disadvantages of what type of a business ownership agreement; assistance, brand recognition, limited creative control?

Back

Franchise agreement

Front

What business structure protects its owners from personal responsibility for its debts or liabilities?

Back

Limited Liability Company (LLC)