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Business Foundations Final Exam Review Questions & Answers Rated 100% Correct!!
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Business Foundations Final Exam Review Questions & Answers Rated 100% Correct!!
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Name: Score:76 Multiple choice questions
Term 1 of 76
cause advertising
wealthy individuals who invest directly in a new venture in exchange for an equity stake
set of activities involved in converting information and individual transactions into financial
statements
money invested in a business by another business firm or group of individuals in exchange
for an ownership share
form of institutional advertising that promotes a specific viewpoint on a public issue as a
way to influence public opinion and the legislative process
Term 2 of 76
franchise
contractual agreement in which a franchisee gains the rights to produce and/or sell the
franchisor's products under that company's brand name if they agree to certain operating
requirements
activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at large
economic system that rewards firms for their ability to identify and serve the needs and
demands of customers
system for manufacturing products in large quantities through effective combinations of
employees with specialized skills, mechanization, and standardization
,Definition 3 of 76
consumers who remain loyal to one brand
brand equity
brand awareness
brand loyalty
brand image
Definition 4 of 76
measurement of the monthly average changes in prices of goods and services
consumer price index
gross domestic product
economic indicators
supply curve
Definition 5 of 76
outsourcing production or services to locations near a firm's home base
nearshoring
offshoring
nearsourcing
outsourcing
, Term 6 of 76
vertical merger
shares that give owners limited voting rights, and the right to receive dividends or assets
before owners of common stock
strategies that establish relatively high prices to develop and maintain an image of quality
and exclusiveness
innovative, low-cost marketing effort designed to get consumers' attention in unusual ways
merger that combines firms operating at different levels in the production and marketing
process
Term 7 of 76
mass production system
system for manufacturing products in large quantities through effective combinations of
employees with specialized skills, mechanization, and standardization
cooperative agreement in which two businesses jointly market each other's products
economic system that rewards firms for their ability to identify and serve the needs and
demands of customers
form of promotion in which marketers pay fees to have their products showcased in various
media, ranging from newspapers and magazines to television and movies
Definition 8 of 76
produce small batches of different products
flexible production system
global division of labor
globalization
mass production system
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