USD BADM 101 Final- Wiedrich
trade surplus - ANS-When the total value of exports is higher than the total value of imports, a
country experiences a
Entrepreneurs - ANS-Create benefits for others while seeking profit for themselves
Tort - ANS-Wrongful act that results in physical or mental harm to an individual or damage to
that persons property
Chapter 11 - ANS-Corporations are allowed to use this chapter to reorganize their operations in
order to improve their financial position
Loss - ANS-when expenses are greater than revenue
Ethics - ANS-Moral principles that govern behavior
ethical dilemma - ANS-Occurs when the behavior results in a choice among alternatives, each
of which has negative consequences.
absolute advantage - ANS-The size of Chinese population gives the country an ________ as
compared to the US since it can produce more of a good than other nations using the same
amount of resources
Statutory Laws - ANS-Enacted by legislative bodies. These laws may be written and passed by
federal, state, county, or city governments
budget surplus - ANS-when tax revenues exceed government expenditures
Business Ethics - ANS-What is right and wrong in a business setting
fiscal policy - ANS-Refers to government efforts to influence the economy through taxation and
spending decisions designed to encourage growth, boost employment, and curb inflation
Business - ANS-any activity that provides goods and services in an effort to earn a profit
Jeff Bezos - ANS-The richest American with a net worth exceeding $105B
Jerome Powell - ANS-Current Chairman of the Federal Reserve
standard of living - ANS-Refers to the quality and quantity of products and goods available to a
population at a given time
, Religion - ANS-A nonprofit, nonpartisan organization, character counts has created a set of
universal ethical standards that transcend cultures. Which of the following is not a universal
ethical standard?
monetary policy - ANS-Actions that shape the economy by influencing interest rates and the
supply of moneu
Adam Smith - ANS-Father of modern capitalism
Meaning - ANS-Effective communication occurs when you can transmit____ to your audience
Noise - ANS-Any interference that causes the message received by the audience to be different
from the senders intended message
body language - ANS-Tanyas arms are crossed as she listens to the managers presentation.
When the manager ends, she joins the audience in a standing ovation but does not clap her
hands. Her posture and gestures are examples of:
nonverbal communication - ANS-A managers facial expressions, posture, and gestures are
examples of:
A memo - ANS-Jackson needs to communicate a detailed but uncontroversial message to
employees. The best channel for this type of message is:
Bias - ANS-A negative preconception or prejudice directed towards a specific group
Marketing - ANS-An organizational function and a set of processes for creating, communicating,
and delivering value to customers and for managing customer relationships in ways that benefit
the organization and its stakeholders
Value - ANS-The customers perception that a product has a strong, positive relationship
between its cost and benefits
Marketing Plan - ANS-Developed to answer the question: who is your target market and how do
you plan to reach them?
Target Market - ANS-Big bull energy drinks focuses its marketing on young males engaged in
athletics who are seeking thrills. It advertises its product at skateboard parks and ski resorts.
This customer group that big bull clearly focuses its marketing efforts toward represents the:
Pure goods - ANS-Body soap, a box of rice, and olive oil are all
pure services - ANS-Career counseling, mentoring, and tutoring are all
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