Exam (elaborations)
BUS 101 Chapter 1 Questions And Answers Latest Update
- Course
- BUS 101
- Institution
- University Of Southern California
BUS 101 Chapter 1 Questions And Answers Latest Update
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Solution 2024/2025Pepper
BUS 101 Chapter 1 Questions And Answers
Latest Update
Groups that have a strong interest in the success and outcomes of a
business, such as employees, neighbors, or government regulators, are
called ____________ ANS✔✔ Stakeholders
Jean's bicycle repair business has been operating at a loss for several
months due to high inventory costs and low sales revenues. If she continues
to operate at a loss, it is likely that Jean will have to ____________ ANS✔✔
Close the business
The purposes of nonprofit organizations include: ANS✔✔ (1) Filling an
educational need
(2) Filling a societal need
Match the element of the business environment with the correct sector.
ANS✔✔ (1) Legal + Contract laws
(2) Technological + The internet
(3) Social + Demographic changes
(4) Competitive + Customer service
Equipment such as phones, fax machines, and computers are all examples
of the ____________ element of the business environment. ANS✔✔
Technology
, Solution 2024/2025
Pepper
An example of a service is ____________ ANS✔✔ A physical exam
Which of the following products are classified as a service? ANS✔✔ (1) Plane
flight to Ireland
(2) Life insurance
The total amount of money a business takes in during a given period by
selling goods and services is its ____________ ANS✔✔ Revenue
The definition of a business is: ANS✔✔ An organization that seeks to provide
goods and services to others while operating at a profit
The difference between revenues and the expenses needed to operate the
business is its ____________ ANS✔✔ Profit or loss
Businesses are a part of a country's ____________ system that distributes its
resources and contributes to the standard of living and quality of life of its
citizens. ANS✔✔ Economic
When a company contracts with another, sometimes in another country, to
do some of its functions, such as production or accounting, it is known as
____________ ANS✔✔ Outsourcing
The amount of goods and services people can buy with the money they
have is known as the: ANS✔✔ Standard of living
Challenges for new leaders since the global information-based revolution
include: ANS✔✔ (1) That the service era is coming to a close
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