Busad 250 exam 1 - Study guides, Class notes & Summaries
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BUSAD 250 Exam 1 questions with correct answers
- Exam (elaborations) • 38 pages • 2023
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The framework that outlines how a firm plans to generate revenue is known as a(n) ____________. 
A. balance sheet 
B. income statement 
C. business mindset 
D. business model 
E. stakeholder model Answer D. business model 
 
Service businesses create value by performing activities that provide benefits to consumers, such as _____________. 
A. entertainment 
B. audiobooks 
C. furniture 
D. software 
E. music downloads Answer A. entertainment 
 
____________________ attempt to operate efficiently ...
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BUSAD 250 EXAM 1 questions with correct answers
- Exam (elaborations) • 19 pages • 2023
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New product in R&D Answer Buy more capactiy 
 
Risk vs. Reward Answer -Higher the risk the more of the reward 
-Without promise of rewards businesses would have no incentive to take on risks 
-Decisions need to stay attached to the person who makes the decisions so they are responsible for them 
 
Market Environment Answer -A company's target customers, the buying influences that shape the behavior of the customers, and competitors that market similar products to those customers 
-(Target Custo...
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BUSAD 250 Exam 1 -2023
- Exam (elaborations) • 32 pages • 2023
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BUSAD 250 Exam 1 -2023...
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BUSAD 250 EXAM 1 questions with correct answers
- Exam (elaborations) • 11 pages • 2023
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the 3 types of businesses Answer Goods producing businesses 
Service businesses 
Not for profit organizations 
 
Companies that create value by making "things," most of which are tangible (capital intensive) Answer Goods producing businesses 
 
Companies that create value by performing activities that deliver some benefit to customers (labor intensive) Answer Service businesses 
 
Organizations that provide goods and services without having a profit motive; these are also called nonprofit orga...
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BUSAD 250 Exam 1 Studyguide 2023-2024
- Exam (elaborations) • 9 pages • 2023
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BUSAD 250 Exam 1 Studyguide 2023-2024...
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BUSAD 250 Exam 1 Iowa State questions with correct answers
- Exam (elaborations) • 6 pages • 2023
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Non-profit Organizations Answer Do not have a profit motive 
 
Goods-producing Business Answer Create value by "making" things, tangible or having physical existence 
 
Service Businesses Answer Create value by performing activities that deliver some benefit to the customer 
 
Business Model Answer a concise description of how a business intends to generate revenue 
 
Competitive Advantage Answer makes you more appealing to your target audience 
 
Barrier to Entry Answer any resource or capabi...
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BusAd 250 Exam 1 questions and 100% correct answers
- Exam (elaborations) • 19 pages • 2023
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Business - correct answer Any profit-seeking organization that provides goods and services designed to satisfy customers' needs. 
 
Revenue - correct answer Money a company brings in through the sale of goods and services. 
 
Business Model - correct answer A concise description of how a business intends to generate revenue 
 
Profit - correct answer Money left over after all the costs involved in doing business have been deducted from revenue. 
 
Competitive Advantage - correct answer Some asp...
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BUSAD 250 EXAM 1 questions and verified correct answers
- Exam (elaborations) • 9 pages • 2023
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the 3 types of businesses - correct answer Goods producing businesses 
Service businesses 
Not for profit organizations 
 
Companies that create value by making "things," most of which are tangible (capital intensive) - correct answer Goods producing businesses 
 
Companies that create value by performing activities that deliver some benefit to customers (labor intensive) - correct answer Service businesses 
 
Organizations that provide goods and services without having a profit motive; these ...
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