EC-907
What is business ethics?
What are the principles that guide behavior in the business world?
What is the definition of "market segmentation"?
What is dividing a broad consumer or business market into sub-groups based on shared characteristics?
What is the definition of "capital"?
What is money or assets used to invest in a business?
What is the primary goal of any business?
What is to generate profit while meeting customer needs?
What is a sole proprietorship?
What is a business owned and operated by one individual, with no distinction between the owner and the business?
True or False: Honesty is an example of ethical behavior.
What is true?
What is an income statement?
What is a financial statement that shows a company’s revenues and expenses over a period of time?
What is the main goal of marketing?
What is to attract and retain customers by satisfying their needs?
What is the role of "market research"?
What is the process of gathering, analyzing, and interpreting information about a market, including customers, competitors, and the industry?
What is the key difference between a partnership and a corporation?
What is a partnership involves two or more owners, while a corporation is a separate legal entity that can own property and incur liabilities?
What is a conflict of interest?
What is a situation where personal interest could influence decisions?
What is the role of a manager?
What is to plan, organize, lead, and control resources to achieve organizational goals?
What is the primary purpose of an income statement?
What is to show the company’s revenues, expenses, and profits over some time?
What is "cash flow"?
What is the total amount of money being transferred into and out of a business?
What is the main goal of marketing?
What is to promote and sell products or services, including market research and advertising?
Why is corporate social responsibility important?
What is it shows a business cares about society and the environment?
What is a contract?
What is a legally binding agreement between two or more parties?
What is a "business plan"?
What is a formal document outlining the goals, strategy, and financial projections of a business?
What is "debt financing"?
What is raising capital through borrowing money, typically by issuing loans or bonds?
What is the difference between "push" and "pull" marketing?
What is push marketing involves promoting products to consumers, while pull marketing creates demand for a product that draws consumers in?
What’s an example of unethical business behavior?
What is false advertising or insider trading?
What is the concept of "supply and demand"?
What is the economic principle where the price and quantity of goods are determined by their availability (supply) and consumer desire (demand)?
What is the "Fair Labor Standards Act"?
What is a U.S. law that establishes minimum wage, overtime pay, and child labor standards?
What is a "business incubator"?
What is a company or organization that helps new businesses develop by providing resources such as office space, mentorship, and capital?
What is the purpose of financial forecasting?
What is to predict future financial outcomes based on historical data and planned activities?