Business Management 101 Questions and Correct Answers | Latest Update
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Course
BUS 101
Institution
BUS 101
Absolute Advantage
Occurs when a country has special natural resources or talents that allow
it to produce an item at the lowest possible price
Advertising
Any paid form of nonpersonal presentation and promotion of ideas,
goods, or services by an identified spon sor
Agents
Inte...
Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Business Management 101 Questions and
Correct Answers | Latest Update
Absolute Advantage
Occurs when a country has special natural resources or talents that allow
it to produce an item at the lowest possible price
Advertising
Any paid form of nonpersonal presentation and promotion of ideas,
goods, or services by an identified spon sor
Agents
Intermediaries who negotiate title of goods by bringing buyers and sellers
together, but do not take title of the goods.
Approach
Making initial contact with the customer
Asset
Anything of monetary value that a person owns. The opposite of a
liability.
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
Balance of Trade
The difference in value between the imports and exports of a nation.
Balance Sheet
A summary of a business's assets, liabilities, and owner's e quity.
Brand
A name, term, design, symbol, or combination of them, that identifies a
business or organization and the product or services that it provides.
Break-even Point
The point at which sales revenue equals the costs and expenses of mak ing
and distributing a particular product.
Business Cycle
The continuous slowdown and growth of an economy.
Business Plan
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, Best Grades | Must Pass | Latest Update | Correct Answers | 2024/ 2025
A proposal that outlines a strategy to turn a business ideal into reality.
Business Risk
The possibility of financial loss.
Capital
Goods, such as equipment of processed materials, used in a production
process. Also, money needed to start and operate a business.
Capitalism
An economic system characterized by private ownership of businesses and
competition in the marketplace.
Cash Flow Statement
A monthly plan that shows when you anticipate cash coming into the
business as well as when you plan to spend cash.
Channels of Distribution
The path that a product takes from producer or manufacturer to final user.
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