Exam (elaborations)
BUSA 1105 Quiz 1 Ch 1-3 Correct Answers 2024/2025
- Course
- Institution
BUSA 1105 Quiz 1 Ch 1-3 Correct Answers 2024/2025
[Show more]
Content preview
BUSA 1105: Quiz 1: Ch 1-3 Correct Answers2024/2025
business ANS✔✔ any activity that seeks to provide goods and services to others while operating at a profit
goods ANS✔✔ the physical objects that someone produces
services ANS✔✔ intangible products
revenue ANS✔✔ total money made during a given period
profit ANS✔✔ if revenue is more than total expenses
loss ANS✔✔ if revenue is less than total expenses
risk ANS✔✔ the chance an entrepreneur takes of losing time and money on a business that may not prove profitable
standard of living ANS✔✔ the amount of goods and services people can buy with the money they have
quality of life ANS✔✔ the general well-being of a society in terms of its political freedom, natural environment,
education, health care, safety, amount of leisure, and rewards
stakeholders ANS✔✔ all the people who stand to gain or lose by the policies and activities of a business and whose
concerns the business needs to address; stockholders, customers, surrounding community, environmentalists, dealers,
employees, government leaders, suppliers, media, bankers
outsourcing ANS✔✔ contracting with other companies to do some or all functions
, insourcing ANS✔✔ the creation of domestic jobs by foreign employers
SWOT analysis ANS✔✔ strengths, weaknesses, opportunities, threats
company breached in 2017 due to weak customer passwords ANS✔✔ apple
most small business close within... ANS✔✔ 18 months
Geral Fauss ANS✔✔ foam finger dude from the 1979 superbowl
why do nonprofit organizations exist? ANS✔✔ to make money
important business skills ANS✔✔ information management, leadership, marketing, financial management
5 elements of business environment ANS✔✔ economic and legal, technological, competitive, social, global business
economic and legal business environment ANS✔✔ freedom of ownership, contract laws, elimination of corruption,
tradable currency, minimum taxes and regulations
technological business environment ANS✔✔ information tech, databases, bar codes, internet
competitive business environment ANS✔✔ customer service, stakeholder recognition, employee service, concern for
environment
social business environment ANS✔✔ diversity, demographic changes, family changes
global business environment ANS✔✔ competition, free trade, quality imperative
productivity ANS✔✔ amount of goods and services produced given the amount of resources used
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 Schoolflix. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $14.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
80796 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now