Busad 250 - Study guides, Class notes & Summaries

what is the rate that member banks charge each other to borrow money Answer The federal funds rate which of the following best describes socialism Answer an economic system characterized by public ownership and operation of key industries combines with private ownership and operation of less vital industries which of the following describes economics Answer the study of how society uses its scarce resources to produce and distribute goods and services which of the following is not one o...

Business Answer Any profit-seeking organization that provides goods and services designed to satisfy customers' needs. Revenue Answer Money a company brings in through the sale of goods and services. Business Model Answer A concise description of how a business intends to generate revenue Profit Answer Money left over after all the costs involved in doing business have been deducted from revenue. Competitive Advantage Answer Some aspect of a product or company that makes it more app...

Which step in the movement of products to a potential customer involves persuading the consumer to actually make a purchase? A. Stimulating action B. Building preference C. Providing information and generating positive emotional connections D. Reminding past customers E. Generating awareness Answer A. Stimulating action ________ is a promotional technique that involves motivating intermediaries to inspire consumers to purchase specific products. A. Direct marketing B. Advocacy advertis...

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 ...

Which of the following statements about managers and the management process is TRUE? Answer According to one study, 33% of new managers fail within the first 18 months. ____________________ skills refer to a manager's ability to identify a problem, analyze it, evaluate the alternatives, choose an appropriate solution, implement it, and review the results. Answer Decision-making The ____________________ function of an organization can help reduce uncertainty, provide for more focused actio...

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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