100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
BCOR 2040 Midterm 1 Exam Questions and Answers $9.99   Add to cart

Exam (elaborations)

BCOR 2040 Midterm 1 Exam Questions and Answers

 5 views  0 purchase
  • Course
  • BCOR
  • Institution
  • BCOR

BCOR 2040 Midterm 1 Exam Questions and Answers What does VIBE stand for? - Answer️️ -Value, Impact, Business, Entrepreneurship willingness to pay - Answer️️ -the maximum amount that a buyer will pay for a good or service Value Chain - Answer️️ -a network of value-creating activitie...

[Show more]

Preview 2 out of 6  pages

  • August 27, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • BCOR
  • BCOR
avatar-seller
SophiaBennett
©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM

BCOR 2040 Midterm 1 Exam Questions and Answers

What does VIBE stand for? - Answer✔️✔️-Value, Impact, Business,
Entrepreneurship

willingness to pay - Answer✔️✔️-the maximum amount that a buyer will
pay for a good or service

Value Chain - Answer✔️✔️-a network of value-creating activities (Supplier-
> Firm-> Customer)

Value Creation - Answer✔️✔️-The activities and processes that increase the
worth of a product or service.

Supplier Opportunity Cost (SOC) - Answer✔️✔️-The minimum amount of
money suppliers are willing to accept to provide the firm with the needed
resources.

economic value - Answer✔️✔️-measure of the benefit provided by a good or
service to an economic agent (actual or perceived benefit)

Market Value - Answer✔️✔️-the price at which something can be sold or the
price that buyers are willing to pay for something.

market price - Answer✔️✔️-The point where supply and demand are equal
(current price at which an asset or service can be bought or sold)




1

, ©SOPHIABENNET@2024/2025 Monday, August 19, 2024 10:32 PM

non-economic values - Answer✔️✔️-goods that do not have any price and
are unlimited in supply. Examples of non-economic goods are air, water,
sunshine, etc.

What are the primary activities in a value chain? - Answer✔️✔️-inbound
logistics, operations, outbound logistics, marketing and sales, service

What are the support activities in a value chain? - Answer✔️✔️-firm
infrastructure, human resource management, technology development,
and procurement

Domain of Interest - Answer✔️✔️-particular field of thought, activity, or
interest (sphere of knowledge)

What is an industry? - Answer✔️✔️-A distinct group of productive or profit-
making enterprises (Systematic labor especially for some useful purpose or
the creation of something of value)

What are examples of industries? - Answer✔️✔️-Education, entertainment,
consulting, oil and gas, automotive, banking, and luggage

What is a function of value creation potential? - Answer✔️✔️-Attractiveness

rivalry - Answer✔️✔️-Companies competing for the same market share
(rivals offer functionally equivalent solutions to consumer)

How do suppliers affect rivalry? - Answer✔️✔️-Suppliers provide inputs to
rivals in the same industry, and can raise or lower their prices depending
on how vital their inputs are to the industry



2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller SophiaBennett. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73918 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart