Business
Fundamentals
Functions of a Business
Entrepreneurship
Finance
Potpourri
100
Explain the difference between a customer and a consumer
A customer is someone who patronizes a particular business. A consumer has the power to chose where to buy goods and services and how much to pay for them, which is known as consumer purchasing power.
100
Management, Natural Resources, Raw Materials, Information, Capital, Labour
What is: Six factors of production
100
Name 5 of the 10 characteristics of an entrepreneur
1. Self-confident 2. Flexible 3. Independent 4. Risk taker 5. Hardworking 6. Perceptive 7. Goal-setting 8. Persistent 9. Imaginative 10. Curious
100
The amount of income that is left over after deductions of income tax, Canada Pension Plan (CPP), and Employment Insurance (EI). It is the amount available for a person to spend on basic necessities, such as food, clothing, and shelter.
What is disposable income
100
A business can be classified by the ____________ it produces or the ________ it offers.
What is goods or services
200
List three reasons why consumers may be hesitant about shopping online.
- don't have the opportunity to physically touch the product - dishonest retailers - wary of providing personal information online
200
A negotiated fee for a particular service, including the cost of time and materials to do a job, as well as an additional fee to ensure a profit.
What is Performance-based salary
200
The ability to understand what other people think and feel. It can help entrepreneurs realize what motivates each employee to work hard and stay with their business
What is empathy
200
This is a plan for wise spending and saving based on income and expenses
What is a budget
200
This requires countries to reduce carbon dioxide emissions so, by 2012, they will be about 5 percent less than they were in 1990
What is the Kyoto Protocol
300
This occurs when someone makes an investment decision based on confidential information about a company that is not available to the public. This gives the person an unfair advantage over other investors when buying or selling stock which is unethical. It is illegal in order to deter people from doing it.
What is insider trading
300
The method managers use to increase maintain, or decrease the resources they are allocated. Activities include employee discipline, performance appraisals and budgeting.
What is Controlling
300
A venture created as a result of an invention or innovation
What is Idea-driven enterprise
300
This is an account in the name of two or more people.
What is a joint account.
300
What is GATT and what is its purpose?
General Agreement on Tariffs and Trade. It is a trade agreement that was signed by 23 nations after WWII in order to strengthen trade relationships and it eventually grew to include 115 members of state.
400
Promotion, Product, Preference, Proximity, Prive
What is 5 P's of international business. Now explain them.
400
Maturity, Growth, Decline, Introduction, Decision Point
What is the product life cycle
400
What is the difference between a patent and a copyright?
A patent gives the holder the sole right to make, use or sell an invention for a set period of time, preventing others from using it without permission. A copyright give someone the exclusive right to publish, produce, sell or distribute works of literature, music art and software.
400
Account number, date, payee, amount, drawer, drawee
What is cheque essentials
400
The process of setting realistic short-term and long-term goals for a business and deciding how best to achieve them.
What is Planning
500
An agreement between businesses to commit resources to achieve a common set of objectives. May be formed with customers, suppliers, competitors or divisions of government. Each party remains separate and entirely independent.
What is - Strategic alliance
500
Assets - Liabilities =
What is Owner's equity
500
This lets an entrepreneur visualize all the features of the products in a particular market segment.
What is Product mapping
500
This is the expression of interest as a percentage of the original investment.
What is the rate of return.
500
This is part of an overall market that has common characteristics. It can be large or small, but the smaller the market, the easier it is to determine what is available in that market.
What is market segmenting
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