Business Management TSA Final Exam
Study Guide |Terms & Definitions |
Marketing, Finance, Management
Vocabulary Test Prep,2026 Updated.
"Economic goods - CORRECT ANSWER -A valued good or service in the economy"
"Economic growth - CORRECT ANSWER -a steady, long term increase in GDP"
"Economic incentives - CORRECT ANSWER -Inticing behaviors to act on certain
wants"
"Economic services - CORRECT ANSWER -Labor provided in the economy"
"Economics - CORRECT ANSWER -The study of supply and demand, production
and distribution"
"Economics of scale - CORRECT ANSWER -reductions in unit cost that can be
achieved through a higher volume of activity, such as; fixed costs that are spread out
over a higher volume of sales."
"Economy - CORRECT ANSWER -Producing and purchasing good and services"
"Education - CORRECT ANSWER -the act or process of educating or being
educated. The knowledge or skill obtained or developed by a learning process."
"Education goals - CORRECT ANSWER -enable individuals to prepare for future
success in the workplace"
"Emoticons - CORRECT ANSWER -facial expressions created with keyboard
symbols and used to express feelings in an email message."
"Employee manual - CORRECT ANSWER -How-to guide for conduct and
responsibilities"
"Employee Orientation - CORRECT ANSWER -activity that introduces employees to
the organization"
,"Employee Procedures - CORRECT ANSWER -Protocols workers of organizations
should follow"
"Employee rights - CORRECT ANSWER -An individuals entitlements within an
organization"
"Empowered Consumer - CORRECT ANSWER -customers that are able to get more
information and make better decisions about purchases and service"
"Entertain - CORRECT ANSWER -to engage a person or audience by providing
amusing or interesting material"
"Entrepreneurship - CORRECT ANSWER -Owning a business or organization that
you created/ built"
"Rule of 72"
- CORRECT ANSWER -allows a person to easily calculate when the future values
of an investment will double the principal (original) amount."
"Accountability - CORRECT ANSWER -responsibility to someone or for some
activity."
"accounts payable - CORRECT ANSWER -Unpaid dues for goods and services"
"accounts receivable - CORRECT ANSWER -Outstanding debt to a company"
"Advertising - CORRECT ANSWER -A form of nonpersonal promotion in which
companies pay to promote ideas, goods, or services in a variety of media formats."
"Agenda - CORRECT ANSWER -a list, plan, outline of things to be done"
"Allocation - CORRECT ANSWER -Distribution of resources"
"Allowance - CORRECT ANSWER -Used to determine the amount of federal taxes
withheld from the paycheck."
"Annual growth rate - CORRECT ANSWER -The increase of an investment annually
(yearly)"
"Annual Percentage Rate (APR) - CORRECT ANSWER -Measure of the cost of
credit on a yearly basis expressed as a percentage."
"Apprentice - CORRECT ANSWER -a person that works for another in order to learn
a trade"
, "Audience - CORRECT ANSWER -a group of people assembled to watch and listen
to a show, concert, movie, or speech"
"Audition interview - CORRECT ANSWER -applicant shows skills by performing job
duties"
"Authority - CORRECT ANSWER -the power or right to give orders or make
decisions."
"Autocratic style - CORRECT ANSWER -gives orders to employees."
"Bureaucratic style - CORRECT ANSWER -manager seeks employee input before
he or she makes the final decision."
"Business Cycle - CORRECT ANSWER -A period of macroeconomic expansion
followed by one of macroeconomic contraction. ("economic fluctuations")"
"Business etiquette - CORRECT ANSWER -The display of manners and
professionalism"
"Business Letter - CORRECT ANSWER -A formal way of communication that
businesses use when communicating with clients or other businesses."
"Business Plan - CORRECT ANSWER -a written document that describes the nature
of a business, its goals, and objectives."
"business risk - CORRECT ANSWER -Opportunity costs for an organization that can
have a negative impact on growth or profits"
"Capitalism - CORRECT ANSWER -Profitable business done in private"
"Captcha - CORRECT ANSWER -type of challenge-response test used in computing
to ensure that the response is not generated by a computer."
"Career - CORRECT ANSWER -a lifetime journey of building and making good use
of skills, knowledge, and experiences."
"cash flow statement - CORRECT ANSWER -A document that portrays a companies
incoming and outgoing cash"
Study Guide |Terms & Definitions |
Marketing, Finance, Management
Vocabulary Test Prep,2026 Updated.
"Economic goods - CORRECT ANSWER -A valued good or service in the economy"
"Economic growth - CORRECT ANSWER -a steady, long term increase in GDP"
"Economic incentives - CORRECT ANSWER -Inticing behaviors to act on certain
wants"
"Economic services - CORRECT ANSWER -Labor provided in the economy"
"Economics - CORRECT ANSWER -The study of supply and demand, production
and distribution"
"Economics of scale - CORRECT ANSWER -reductions in unit cost that can be
achieved through a higher volume of activity, such as; fixed costs that are spread out
over a higher volume of sales."
"Economy - CORRECT ANSWER -Producing and purchasing good and services"
"Education - CORRECT ANSWER -the act or process of educating or being
educated. The knowledge or skill obtained or developed by a learning process."
"Education goals - CORRECT ANSWER -enable individuals to prepare for future
success in the workplace"
"Emoticons - CORRECT ANSWER -facial expressions created with keyboard
symbols and used to express feelings in an email message."
"Employee manual - CORRECT ANSWER -How-to guide for conduct and
responsibilities"
"Employee Orientation - CORRECT ANSWER -activity that introduces employees to
the organization"
,"Employee Procedures - CORRECT ANSWER -Protocols workers of organizations
should follow"
"Employee rights - CORRECT ANSWER -An individuals entitlements within an
organization"
"Empowered Consumer - CORRECT ANSWER -customers that are able to get more
information and make better decisions about purchases and service"
"Entertain - CORRECT ANSWER -to engage a person or audience by providing
amusing or interesting material"
"Entrepreneurship - CORRECT ANSWER -Owning a business or organization that
you created/ built"
"Rule of 72"
- CORRECT ANSWER -allows a person to easily calculate when the future values
of an investment will double the principal (original) amount."
"Accountability - CORRECT ANSWER -responsibility to someone or for some
activity."
"accounts payable - CORRECT ANSWER -Unpaid dues for goods and services"
"accounts receivable - CORRECT ANSWER -Outstanding debt to a company"
"Advertising - CORRECT ANSWER -A form of nonpersonal promotion in which
companies pay to promote ideas, goods, or services in a variety of media formats."
"Agenda - CORRECT ANSWER -a list, plan, outline of things to be done"
"Allocation - CORRECT ANSWER -Distribution of resources"
"Allowance - CORRECT ANSWER -Used to determine the amount of federal taxes
withheld from the paycheck."
"Annual growth rate - CORRECT ANSWER -The increase of an investment annually
(yearly)"
"Annual Percentage Rate (APR) - CORRECT ANSWER -Measure of the cost of
credit on a yearly basis expressed as a percentage."
"Apprentice - CORRECT ANSWER -a person that works for another in order to learn
a trade"
, "Audience - CORRECT ANSWER -a group of people assembled to watch and listen
to a show, concert, movie, or speech"
"Audition interview - CORRECT ANSWER -applicant shows skills by performing job
duties"
"Authority - CORRECT ANSWER -the power or right to give orders or make
decisions."
"Autocratic style - CORRECT ANSWER -gives orders to employees."
"Bureaucratic style - CORRECT ANSWER -manager seeks employee input before
he or she makes the final decision."
"Business Cycle - CORRECT ANSWER -A period of macroeconomic expansion
followed by one of macroeconomic contraction. ("economic fluctuations")"
"Business etiquette - CORRECT ANSWER -The display of manners and
professionalism"
"Business Letter - CORRECT ANSWER -A formal way of communication that
businesses use when communicating with clients or other businesses."
"Business Plan - CORRECT ANSWER -a written document that describes the nature
of a business, its goals, and objectives."
"business risk - CORRECT ANSWER -Opportunity costs for an organization that can
have a negative impact on growth or profits"
"Capitalism - CORRECT ANSWER -Profitable business done in private"
"Captcha - CORRECT ANSWER -type of challenge-response test used in computing
to ensure that the response is not generated by a computer."
"Career - CORRECT ANSWER -a lifetime journey of building and making good use
of skills, knowledge, and experiences."
"cash flow statement - CORRECT ANSWER -A document that portrays a companies
incoming and outgoing cash"
