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...
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
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 Scholarsstudyguide. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.