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Mg 100 Exam Questions and Answers All Correct

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Mg 100 Exam Questions and Answers All Correct What is Production Management - Answer- Planning, Leading, Organizing, Controlling (POLC) What is Consumer Economics - Answer- Value to consumer = Utility minus price What is Push Marketing - Answer- Make the product first, then persuade costu...

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  • November 6, 2024
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  • mg 100
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Mg 100 Exam Questions and Answers
All Correct
What is Production Management - Answer- Planning, Leading, Organizing, Controlling
(POLC)

What is Consumer Economics - Answer- Value to consumer = Utility minus price

What is Push Marketing - Answer- Make the product first, then persuade costumers to
buy

What is Pull Marketing - Answer- Find out what customers want first, then Make and
deliver

What is the marketing mix? - Answer- Product, Price, Place, Promotion

What is a Marketing Intermediary - Answer- Organization that assist in moving goods
and services from businesses to businesses and from businesses to consumers

What is Channel of Distribution - Answer- A group of marking intermediaries that join
together to transport and store goods from producers to consumers

Who to Wholesalers sell to? - Answer- Retailers, Manufacturers, and hospitals

Who do retailers sell to? - Answer- Consumers

What are the 6 different types of utility? - Answer- Form, time, place, possession,
information, Service

What is Accounting? - Answer- The system of Recording, Classifying, Summarizing,
and Analyzing business transactions and data in order to generate financial information
for decision makers

Who reports financial information - Answer- Public firms and non profits

Are private firms required to report financial information - Answer- No but often do

What are the 3 main financial statements - Answer- Balance sheet, income statement,
and statement of cash flows

What does the Balance Sheet contain? - Answer- assets, liabilities, owner's equity
(A=L+E)

, What does the Income statement Contain? - Answer- revenues, expenses, net income
(Revenues - expenses = Net income)

What does the Statement of Cash flow contain? - Answer- Change in cash position, and
causes of change

What is a Financial Ratio Analysis Ratio? - Answer- Used to compare performance
between firms

What is Finance Management - Answer- managing a firms financial resources to meet
its goal and objectives

What is a pro forma? - Answer- a projection of revenues, expenses, and profits

What is Short Term Financing - Answer- Funds for a year or less

What is long term financing - Answer- Funds for more then a year

What is Capital Structure - Answer- The Proportion of Debt vs. Equity financing at any
given time

A person who risks their own time and money to start and manage a business is known
as a - Answer- Entrepeneur

4 letter word that all managers need to be focused on - Answer- cost

The study of how society employs resources to produce goods and services for
consumption among various groups and individuals is known as - Answer- Economics

Whats the difference between Macro and Mico Economics - Answer- Macro focuses on
the nations economy, micro focuses on each person

What is Laissez-faire - Answer- Hands off, no goverenment intervention

What is the name of Adam Smiths book - Answer- The wealth of nations

Explain Smiths theory - Answer- Key to a business flowing is allowing businesses to
keep their profits and make profits

What is the name of Smiths theory - Answer- Invisible Hand

People and groups that affect-and are affected by- a firm's activities are known as -
Answer- Stakeholders

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