Mie 201 exam 1 questions - Study guides, Class notes & Summaries

MIE 201 Exam 1 Questions and Answers

Connect question for MIE 201 Exam 1 A description of how a particular society distributes its resources to produce goods and services is the definition of - correct answer an economic system When economies are made up of elements from more than one economic system it is referred to as a ___ economy - correct answer mixed In a free enterprise system, a business succeeds or fails based on - correct answer market demand For free enterprise to work, there are a number if basic individual a...

MIE 201 Exam 1 Questions and Answers

Connect question for MIE 201 Exam 1 Questions with complete solution 2023/2024A description of how a particular society distributes its resources to produce goods and services is the definition of - correct answer an economic system When economies are made up of elements from more than one economic system it is referred to as a ___ economy - correct answer mixed In a free enterprise system, a business succeeds or fails based on - correct answer market demand For free enterprise to work,...

MIE 201 Exam 1 Questions and Answers

MIE 201 Exam 1 Questions and Answers

business - ANSWERSany profit-seeking organization that provides goods and service designed to satisfy customers needs revenue - ANSWERSmoney a company brings in through the sales of goods and services business model - ANSWERSa clearly stated outline of how the business intends to generate revenue profit - ANSWERSmoney left over after all the costs involved in doing business have been deducted from revenue competition gives customers - ANSWERSa wider range of options, it tends to incr...

Which of the following is not something associated with nonprofit organizations? A. They Utilize Skills related to management, marketing, and finance B. They may provide goods and services C. They engage in Fundraising D. They have the fundamental goal of earning profits - ANSWERSD A depression is characterized by______. (Select all that apply) A. An economic expansion B. High unemployment C. Low consumer spending D. Low unemployment E. A reduction in business output - ANSWERSB C E ...

MIE 201 Exam 1 Questions With Solutions 100% Solved open economy an economy in which economic activities occur between the country and international community big data large volumes of structured and unstructured data that are transmitted at very fast speeds blockchain record-keeping technology that stores linked blocks of ordered transactions over time economics the study of how resources are distributed for the production of goods and services within a social system corporate ci...

MIE 201 Exam 1 business - correct answer any profit-seeking organization that provides goods and service designed to satisfy customers’ needs revenue - correct answer money a company brings in through the sales of goods and services business model - correct answer a clearly stated outline of how the business intends to generate revenue profit - correct answer money left over after all the costs involved in doing business have been deducted from revenue competition gives customers ...