Wants, Needs and Resources
What is something required for survival?
What is a need?
This type of business is owned and operated by one person?
What is a sole proprietorship?
This is the most common organizational structure where people are grouped by job function.
What is functional structure.
This function of management sets goals for the future.
What is planning?
This is a business that grows and/or gathers raw materials.
What is an extractor?
What is an example of a want?
What is a smartphone?
This is a benefit of a partnership.
What is shared responsibility?
This type of organizational structure is where employees report to multiple managers.
What is matrix structure?
Your teacher, manager, and coach have this type of influence over you.
What is position influence?
This is a company that makes finished goods.
What is a manufacturer?
Name the 3 types of economic resources.
What are natural, human, and capital?
This business structure is owned by shareholders and offers limited liability.
What is a corporation?
This is what happens to demand when price increases.
What is demand decreases?
This leader is great in emergency situations.
What is autocratic leadership?
This is a business that sells goods made by others.
What is an intermediary?
What is scarcity?
A well-known brand allows individuals to open local branches.
What is a franchise?
This is the point where supply equals demand.
What is market price/equilibrium price?
If a manager is doing inventory or checking a budget, it is this function.
What is controlling?
Give an example of a service.
What is a salon, law firm, hospital, school?
If you choose to work instead of going to a party, what is the opportunity cost?
What is the enjoyment and time you gave up at the party?
This is the key difference between a joint venture and a strategic alliance.
What is a joint venture creates something new and a strategic alliance shares customers.
Give one factor that shifts the demand curve.
What is population, expectations, change is price of compliment ...?
This leadership style is great for creative or innovative fields where the employees are highly motivated.
What is laisse faire leadership?
This is the key difference between goods and services.
What is goods are tangible, services are not?