BUSINESS 101
Ivy Tech Community College
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Business 101- Ivy Tech| 135 Questions| With Complete Solutions
- Exam (elaborations) • 21 pages • 2023
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What is the concept of business? correct answer: organize that provides good or services to earn profits 
 
What is the concept of profits? correct answer: difference between a business's revenues and its expenses 
 
What are the external environment of business? correct answer: everything outside an organization's boundaries that might affect it 
 
What are the dimensions of the external environment? correct answer: global, political, legal, boundaries, stockholders, technology 
 
What is...
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Business 101 Proctored Exam Terms: Ivy Tech Community College Questions With Complete Solutions
- Exam (elaborations) • 11 pages • 2023
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Management Functions correct answer: planning, organizing, leading, controlling 
 
Flextime correct answer: A schedule that allows workers to choose work hours that fit their particular needs. 
 
Theory X and Theory Y correct answer: x- people are lazy and extrinsically motivated 
 
y- people are naturally energetic, growth-oriented, self-motivated, and interested in being productive 
 
conceptual skills correct answer: The ability to think in the abstract, diagnose, analyze different situat...
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