What is the definition of business?

Complete the statement with the best term. Business is about ___________ managing business functions.

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of industrial?

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of commercial?

Business means a for-profit or non-profit organization involved in commercial, industrial, or professional commerce. What is the meaning of professional?

Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?

A company’s purpose, reason for being, and problem it is solving is its:

Which business function is a route or plan of action designed to achieve certain goals and objectives?

Which business function is about collecting, organizing, storing, and securing relevant data and information in order to make informed decisions?

Which business function deals with the daily functioning of an organization, managing the inputs and outputs, and includes manufacturing, purchasing, and logistics?

Which business function is the enterprise and pursuit of ideation, creation, communication, and delivery of profitable products and services to targeted customers for their benefit and for the benefit of society as a whole?

What is the process of recording, maintaining, and reporting an organization’s financial transactions and records?

What focuses on the management of the assets, liabilities, and cash flow of an organization, financial analysis like ROI and ROE, and financial planning of future growth?

Which business function helps to ensure quality control during manufacturing and distribution?

A specific procedure or action used to support strategy, in order to achieve goals and objectives, is called:

The money that a business spends

The possibility of loss from human error

A risk response strategy that involves choosing not to do something that is considered risky

The amount of money a business pays for the products it sells or for the raw materials from which it produces goods to sell

Money left after the cost of goods expense and operating expense are each subtracted from the total income

Chances of loss that carry with them the possibility of loss or no loss

A risk response strategy that involves trying to reduce the chance of loss or the severity of loss

Monetary reward a business owner receives for taking the risk involved in investing in a business

If a business has a monthly income of $5000 with expenses totaling $3000, what is their profit?

The desire to make a profit, which moves people to invest in business

Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. This is an example of

The quantity of a good or service that producers are able and willing to offer for sale at a specified price in a given period of time is

A team of employees is responsible for researching potential demand for a business’s brand-new product. The factor that is most likely to affect demand for this product is the

Which of the following is a factor affecting a product’s utility to the individual customer:

Which of the following determines whether consumers can purchase goods or services:

The price of complementary products has an effect on

For 20 years, Don owned a small grocery store. When several big box stores that sell groceries at discounted prices moved into the area, Don’s sales declined, and he had to close his business. Which of the factors that affect supply affected Don’s business?

A company that transforms cotton into wearable clothing is considered a

The two main divisions of the trade industry are

Retailing takes place whenever goods are

What do service businesses sell?

A large retailer feels that it has a duty to contribute to the well-being of society, so it donates a portion of its proceeds to a charity that helps the environment. The retailer is demonstrating

A socially responsible business will attempt to give customers

A characteristic of human wants is that they are

Which of the following is an example of an economic want:

An example of a noneconomic want would be the desire for

Which of the following is an industrial good:

Susan is willing to pay a high price for the brand of china that she wants for her home. This china would be classified as a(n) __________ product.

How would a business’s computers be classified?

A car manufacturer receives a shipment of bolts that are going to be used in the production of automobiles. What type of industrial product would the bolts be?

A characteristic of human wants is that they are

Which of the following is an example of an economic want

An example of a noneconomic want would be the desire for

An economic good or service that is scarce is one that is

If a good or srvice is scarce, consumers will usually be

Which of the following is a characteristic of economic services:

"Economic votes" are cast by consumers each time they

Producers respond to consumers' positive economic votes by

A student purchased a laptop to use for homework assignments. In economic terms, this computer would be classieied as a(n)_____good.

Each day, a restaurant sends its used linens to a laundry to be cleaned and pressed. In economic terms, the laundry service would be classified as a(an)_____srvice.

Which of the following is an industrial good:

What determine whether an economic product is an industrial product or a consumer product?

Why do marketers classify good and services?

Bread for a family would be classified as a(n)____product.

George has decidied to purchase a diswasher. He is checking the newspaper ads for the best place to get quality goods and services at a resonable price. What type of product is the diswasher?

Susan is willing to pay a high price for the brand of china that she wants for her home. This china would be classified as a(n)____product.

Sugar and flour that are purchased to make baked goods are classified as

A car manfacturer receives a shipment of bolts that are going to be used ib the production of automobiles. What type of inductrial product would the bolts be?

How would a business's computers be classified?

Cash-register tapes and shipping orms used by a business would be classified as inductrial:

You have two jobs offers, and you're trying to decide which one to accept. Each job has its advantages and disadvantages. You're facing a(n)

You are trying to decide whether or not to plagiarize a paper for school. This is an example of an ethical

Ethical dilemmas involve choosing between what is

In a(n) _____________, someone could be harmed.

Mara's ethical belief don't change, whether she's at her part-time job or hanging out with her friends. Mara follows

Neal has a coworker who doesn't think that bribery is wrong. The coworker is from another culture where bribery is much more accepted, and he tries to convince Neal that it isn't a big deal. Neal is facing an ethical dilemma because of

Thaddeus feels that his job doesn't pay him enough, so he feels like he deserves to take money out of the register every once in a while. Thaddeus is motivated by

Piper looks up to her new boss and tries to learn from her behavior as much as possible. However, Piper knows that some of her boss's actions are unethical. Piper isn't sure if she should follow her boss's example or not. Piper is facing an ethical dilemma because of

DeMarcus behaves ethically at his job even when no coworkers or supervisors are watching.

Nicole considers stealing because she doesn't think anyone will catch her. Nicole is facing an ethical dilemma because of