Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
100
Needs are things required to live and wants are things that people buy to add comfort and pleasure to your life.
What is the difference between Needs and Wants?
100
They must generate ideas, raise capital, buy goods and services, employ and train personnel,Market goods and services and maintain business records
In order to be successful, businesses must do what six steps?
100
They are not keeping adequate records, Not having enough start-up money, Having a poor location, Failing to have a business plan, Lacking management experience or experience with a type of business being managed, and not controlling business expenses or managing credit to customers.
What is the small business problems?
100
They are quotas, tariffs, and embargoes.
What is the three barriers of international trade
100
Its a person or business that buys or uses goods and services.
What is a consumer?
200
What to produce?, How should things be produced?, and For whom should they be produced?
What are the three questions that all economic systems must answer?
200
They are sole proprietorship, partnerships, and corporations.
What is the three common forms of business?
200
Is the ability to influence individuals, groups, or teams to accomplish important goals
What is Leadership?
200
Its balance of trade.
What is the difference between its exports and imports.
200
They Advertise, have Product labels, have BBB, and have customer service departments.
What is some ways to sell products?
300
Define the problem, identify the choices, Evaluate each choice, Choose one, Act on your choice, and Review on your decision.
What is The six steps in the decision making process?
300
They plan, organize, staff, lead, and control.
What should a manager do in order to lead a successful business?
300
interacting with people
What is human relations?
300
They are agreement, competent parties, consideration, and legality.
What is the elements that contracts must include?
300
They compare unit prices, compare quality, compare services, and consider sales.
What is the wise buying strategies?
400
Prosperity, Recession, Depression, and Recovery
What are the four phases in a business cycle?
400
They are Product/service management, distribution, selling, Marketing-information management, financial analysis, pricing, and promotion.
What is the functions of marketing?
400
They have vacations, insurance, and other benefits.
What is some benefits of businesses?
400
They must buy goods and services, employ workers, raise revenue, and borrow money.
What is the things government must do to provide services?
400
They check business reputation, brand names, types of stores, and timing.
What is the wise buying decisions?
500
Demand is the relationship between the amount of a good or service that consumers are willing and able to buy and the price of the good or service and Supply is the amount of a good or service that businesses are willing and able to provide based on the price of the good or service.
What is the difference between demand and supply?
500
Its the path that a product travels as it goes from producer to consumer
What is the channel of distribution?
500
They are start up budget, operating budget, and cash budget
What is the three types of budget?
500
its a set of rules for guiding the actions of employees or members of an organization.
What is the code of ethics?
500
They are to be honest, be responsible, be active, be informed, and be involved.
What is the consumer responsibilities?
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