Business Dynamics Villanova Midterm UPDATED Exam Questions and CORRECT Answers
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Course
Business Dynamics Villanova
Institution
Business Dynamics Villanova
Business Dynamics Villanova Midterm
UPDATED Exam Questions and CORRECT
Answers
Business - CORRECT ANSWER- any activity that seeks to provide goods and services to
others while operating at a profit
Business Environment - CORRECT ANSWER- the surrounding factors that either help or
hinder th...
Business Dynamics Villanova Midterm
UPDATED Exam Questions and CORRECT
Answers
Business - CORRECT ANSWER- any activity that seeks to provide goods and services to
others while operating at a profit
Business Environment - CORRECT ANSWER- the surrounding factors that either help or
hinder the development of businesses
Climate Change - CORRECT ANSWER- the movement of the temperature of the planet up
or down over time
Database - CORRECT ANSWER- an electronic storage file for information
Demography - CORRECT ANSWER- the statistical study of human populations with regard
to its size, density, and other characteristics such as age, race, gender and income.
e-commerce - CORRECT ANSWER- the buying and selling of goods over the internet
Empowerment - CORRECT ANSWER- Giving frontline workers the responsibility,
authority, freedom, training, and equipment they need to respond quickly to customer
requests.
Entrepreneur - CORRECT ANSWER- A person who risks time and money to start and
manage a business
factors of production - CORRECT ANSWER- the resources used to create wealth: land,
labor, capital, entrepreneurship and knowledge
Goods - CORRECT ANSWER- Tangible products such as computers, food, clothing, cars,
and appliances.
,Greening - CORRECT ANSWER- The trend toward saving energy and producing products
that cause less harm to the environment.
Identity Theft - CORRECT ANSWER- The obtaining of individuals' personal information,
such as Social Security and credit card numbers, for illegal purposes.
Loss - CORRECT ANSWER- When a business's expenses are more than its revenues.
nonprofit organization - CORRECT ANSWER- An organization whose goals do not include
making a personal profit for its owners or organizers.
Outsourcing - CORRECT ANSWER- Contracting with other companies (often in other
countries) to do some or all of the functions of a firm, like its production or accounting tasks.
Productivity - CORRECT ANSWER- The amount of output you generate given the amount
of input (e.g., hours worked).
Profit - CORRECT ANSWER- The amount of money a business earns above and beyond
what it spends for salaries and other expenses.
Quality of Life - CORRECT ANSWER- The general well-being of a society in terms of its
political freedom, natural environment, education, health care, safety, amount of leisure, and
rewards that add to the satisfaction and joy that other goods and services provide.
Revenue - CORRECT ANSWER- The total amount of money a business takes in during a
given period by selling goods and services.
Risk - CORRECT ANSWER- (1) The chance an entrepreneur takes of losing time and money
on a business that may not prove profitable. (2) The chance of loss, the degree of probability
of loss, and the amount of possible loss.
Services - CORRECT ANSWER- Intangible products (i.e., products that can't be held in your
hand) such as education, health care, insurance, recreation, and travel and tourism.
, Stakeholders - CORRECT ANSWER- All the people who stand to gain or lose by the policies
and activities of a business and whose concerns the business needs to address.
Standard of Living - CORRECT ANSWER- The amount of goods and services people can
buy with the money they have.
Broadband Technology - CORRECT ANSWER- Technology that offers users a continuous
connection to the Internet and allows them to send and receive mammoth files that include
voice, video, and data much faster than ever before.
compliance-based ethics codes - CORRECT ANSWER- Ethical standards that emphasize
preventing unlawful behavior by increasing control and by penalizing wrongdoers.
corporate philanthropy - CORRECT ANSWER- The dimension of social responsibility that
includes charitable donations.
corporate policy - CORRECT ANSWER- The dimension of social responsibility that refers to
the position a firm takes on social and political issues.
corporate responsibility - CORRECT ANSWER- The dimension of social responsibility that
includes everything from hiring minority workers to making safe products.
corporate social initiatives - CORRECT ANSWER- Enhanced forms of corporate
philanthropy directly related to the company's competencies.
Corporate Social Responsibility - CORRECT ANSWER- A business's concern for the welfare
of society.
Ethics - CORRECT ANSWER- Standards of moral behavior; that is, behavior accepted by
society as right versus wrong.
insider trading - CORRECT ANSWER- An unethical activity in which insiders use private
company information to further their own fortunes or those of their family and friends.
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