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Business Fundamentals
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Business Fundamentals
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25 Questions

1. The total quantity and quality of goods and services people can purchase with the currency used in their economic system

2. Difference of revenues - costs - and profit from the planned amounts.

3. The way a manager teats and directs employees

4. Activities producing tangible products such as radios - newspapers - buses and textbooks

5. The company founder is no longer solely responsible for all decision making during the ____.

6. Something that the employee dislikes is taken away

7. Being accountable or being able to justify an action

8. Strategy by which managers in specific areas decide how best to achieve corporate goals through productivity

9. A business firm that does things for you instead of making or makerting products

10. Stocks - bonds - and other investments that can be turned into cash quickly

11. Document in which an entrepreneur summarizes his or her business strategy for a proposed new venture and how that strategy will be implemented

12. Transferring work to another country

13. Complete list of all products that a company offers for sale

14. ____ help focus attention on what is important and are broader statements than objectives. More quantitative the ____ - the more likely its achievement is to receive attention and less likely it is to be distorted. The end or outcome to be accomplis

15. Businesses - nonprofit organizations - and government agencies that purchase goods and services for use in their operations

16. Goal set for the very near future

17. Process of planning and executing the conception - pricing - promotion - and distribution of ideas - goods - and services to create and maintain relationships

18. Organization in which most decision-making authority is held by upper-level management

19. Communications channels - such as newspapers - radio - and television

20. Electronic media that invite participation by the general public

21. Single year; A method of financial statement analysis in which each entry for each of the three major categories of accounts (assets - liabilities and equities) in a balance sheet is represented as a proportion of the total account; income statement

22. Direct communication other than personal sales contacts designed to effect a measurable response

23. Customer value added by making a product available in a convenient location

24. The willingness and ability of producers to offer a good or service for sale

25. Partner who actively manages a firm and who has unlimited liability for its debts

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