Bus101 - Study guides, Class notes & Summaries

Saylor Academy BUS101 Exam

BUS101 Saylor Exam with correct Answers

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What is the difference between revenue and profit? - Answer- Revenue is total amount of money the business brings in during set period of time, while profit is (revenue - expenses) and the amount of money a business really made, not just brought in. What is risk? How does it relate to profit? - Answer- Risk is the dedicated time and money put towards a business where the profits are not secured, or the time and money an entrepreneur puts towards a business that may not be profitable. This rel...

Saylor Academy BUS101 Final 2024 Study GuideSaylor Academy BUS101 Final 2024 Study Guide

BUS101 Saylor Exam with 100% Correct Answers Business contract theory - answera business is a community of participants organized around a common purpose. Contract theorists see the enterprise being run by employees and managers as a kind of representative democracy. Business as Property - answerThe owner can do whatever he wants Functional Authority - answerFor ex: The authority exerted by an HR manager as coordinator of personnel activities. where managers have formal power over a spec...

Saylor Academy BUS101 Questions and Answers Graded A Social Benefit The total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory The belief that business is a community of participants organized around a common purpose. These participants have...

EGCC BUS101 Into to Business - Final Exam | 2024/25 | Graded at 100%

Saylor Academy BUS101 UPDATED Exam Questions and CORRECT Answers Social Benefit - Correct ANSWER- The total benefit to society from producing or consuming a good or service. Social benefit includes all the private benefits plus any external benefits of production / consumption. If a good has significant external benefits, then the social benefit will be greater than the private benefit. Contract Theory - Correct ANSWER- The belief that business is a community of participants organize...

BUS100- chapter 6, Chapter 6, MGMT 1: Chapter 4, MGMT - Chapter 5 and 6, Understanding business 8th edition, Chapter 6, Chapter 6, BIO 101 MIDTERM, Study for Business 101 Midterm Exam