2
Troy BUS 6600 Exam with accurate detailed answers
|| || || || || || ||
Business - ✔✔any activity that seeks to provide goods and services to others while
|| || || || || || || || || || || || || ||
operating at a profit || || ||
business environment - ✔✔the surrounding factors that either help or hinder the
|| || || || || || || || || || || ||
development of businesses || ||
climate change - ✔✔a change in the planet's temperature over time
|| || || || || || || || || ||
database - ✔✔a collection of organized data that allows access, retrieval, and use of data
|| || || || || || || || || || || || || ||
Demography - ✔✔The scientific study of population characteristics.
|| || || || || || ||
e-commerce - ✔✔the buying and selling of goods over the internet
|| || || || || || || || || ||
Entrepreneur - ✔✔A person who risks time and money to start and manage a business
|| || || || || || || || || || || || || ||
Empowerment - ✔✔giving employees the authority to correct a problem without first
|| || || || || || || || || || || ||
checking with management
|| ||
factors of production - ✔✔the resources that are used to create wealth
|| || || || || || || || || || ||
goods - ✔✔Items purchased to satisfy needs and wants
|| || || || || || || ||
,2
Greening - ✔✔the trend toward saving energy and producing products that cause less harm
|| || || || || || || || || || || || ||
to the environment
|| || ||
identity theft - ✔✔The forging of someone's identity for the purpose of fraud
|| || || || || || || || || || || ||
loss - ✔✔when a business's expenses are more than its revenues
|| || || || || || || || || ||
non-profit organization - ✔✔an organization whose goals do not include making a personal
|| || || || || || || || || || || || ||
profit for its owners or organizers
|| || || || ||
outsourcing - ✔✔Contracting with other companies (often in other countries) to do some or
|| || || || || || || || || || || || ||
all of the functions of a firm, like its production or accounting tasks.
|| || || || || || || || || || || || ||
productivity - ✔✔The value of a particular product compared to the amount of labor
|| || || || || || || || || || || || || ||
needed to make it. || || ||
profit - ✔✔The financial gain made in a transaction
|| || || || || || || ||
quality of life - ✔✔the standard of health, comfort, and happiness experienced by an
|| || || || || || || || || || || || || ||
individual or group. || ||
revenue - ✔✔income || ||
risk - ✔✔Degree of uncertainty of return on an asset; in business, the likelihood of loss or
|| || || || || || || || || || || || || || || || ||
reduced profit. ||
services - ✔✔intangible products|| || ||
,2
stakeholders - ✔✔All the people who stand to gain or lose by the policies and activities of a
|| || || || || || || || || || || || || || || || ||
business and whose concerns the business needs to address.
|| || || || || || || || ||
Standards of living - ✔✔the amount of goods and services people can buy with the money
|| || || || || || || || || || || || || || || ||
they have ||
business cycle - ✔✔periodic growth and contraction of the economy
|| || || || || || || || ||
Capiltalism - ✔✔an economic system in which the factors of production and distribution are
|| || || || || || || || || || || || ||
privately owned and operated for a profit
|| || || || || || ||
command economy - ✔✔An economic system in which the government controls a country's
|| || || || || || || || || || || || ||
economy.
Communism - ✔✔A theory or system of social organization based on the holding of all
|| || || || || || || || || || || || || || ||
property in common, actual ownership being ascribed to the community as a whole or to
|| || || || || || || || || || || || || || ||
the state.
||
Consumer Price Index (CPI) - ✔✔monthly statistics that measure the pace of inflation or
|| || || || || || || || || || || || || ||
deflation
core inflation - ✔✔CPI minus food and energy costs
|| || || || || || || ||
deflation - ✔✔A situation in which prices are declining
|| || || || || || || ||
demand - ✔✔Consumer willingness and ability to buy products
|| || || || || || || ||
depression - ✔✔A period of low economic activity and rising unemployment
|| || || || || || || || || ||
, 2
Disinflation - ✔✔a situation in which price increases are slowing (the inflation rate is
|| || || || || || || || || || || || || ||
declining)
Economics - ✔✔The study of how people seek to satisfy their needs and wants by making
|| || || || || || || || || || || || || || || ||
choices
fiscal policy - ✔✔Government policy that attempts to manage the economy by controlling
|| || || || || || || || || || || || ||
taxing and spending.
|| ||
free market economy - ✔✔Capitalism, private ownership law of supply and demand
|| || || || || || || || || || ||
Gross Domestic Product (GDP) - ✔✔A measurement of the total goods and services
|| || || || || || || || || || || || ||
produced within a country.
|| || ||
Gross Output (GO) - ✔✔A measure of total sales volume at all stages of production
|| || || || || || || || || || || || || ||
Inflation - ✔✔A general and progressive increase in prices
|| || || || || || || ||
invisible hand - ✔✔term economists use to describe the self-regulating nature of the
|| || || || || || || || || || || || ||
marketplace
Keynesian economics - ✔✔Theory based on the principles of John Maynard Keynes, stating
|| || || || || || || || || || || || ||
that government spending should increase during business slumps and be curbed during
|| || || || || || || || || || || ||
booms.
Macroeconomics - ✔✔The study of the economy as a whole || || || || || || || || ||
Troy BUS 6600 Exam with accurate detailed answers
|| || || || || || ||
Business - ✔✔any activity that seeks to provide goods and services to others while
|| || || || || || || || || || || || || ||
operating at a profit || || ||
business environment - ✔✔the surrounding factors that either help or hinder the
|| || || || || || || || || || || ||
development of businesses || ||
climate change - ✔✔a change in the planet's temperature over time
|| || || || || || || || || ||
database - ✔✔a collection of organized data that allows access, retrieval, and use of data
|| || || || || || || || || || || || || ||
Demography - ✔✔The scientific study of population characteristics.
|| || || || || || ||
e-commerce - ✔✔the buying and selling of goods over the internet
|| || || || || || || || || ||
Entrepreneur - ✔✔A person who risks time and money to start and manage a business
|| || || || || || || || || || || || || ||
Empowerment - ✔✔giving employees the authority to correct a problem without first
|| || || || || || || || || || || ||
checking with management
|| ||
factors of production - ✔✔the resources that are used to create wealth
|| || || || || || || || || || ||
goods - ✔✔Items purchased to satisfy needs and wants
|| || || || || || || ||
,2
Greening - ✔✔the trend toward saving energy and producing products that cause less harm
|| || || || || || || || || || || || ||
to the environment
|| || ||
identity theft - ✔✔The forging of someone's identity for the purpose of fraud
|| || || || || || || || || || || ||
loss - ✔✔when a business's expenses are more than its revenues
|| || || || || || || || || ||
non-profit organization - ✔✔an organization whose goals do not include making a personal
|| || || || || || || || || || || || ||
profit for its owners or organizers
|| || || || ||
outsourcing - ✔✔Contracting with other companies (often in other countries) to do some or
|| || || || || || || || || || || || ||
all of the functions of a firm, like its production or accounting tasks.
|| || || || || || || || || || || || ||
productivity - ✔✔The value of a particular product compared to the amount of labor
|| || || || || || || || || || || || || ||
needed to make it. || || ||
profit - ✔✔The financial gain made in a transaction
|| || || || || || || ||
quality of life - ✔✔the standard of health, comfort, and happiness experienced by an
|| || || || || || || || || || || || || ||
individual or group. || ||
revenue - ✔✔income || ||
risk - ✔✔Degree of uncertainty of return on an asset; in business, the likelihood of loss or
|| || || || || || || || || || || || || || || || ||
reduced profit. ||
services - ✔✔intangible products|| || ||
,2
stakeholders - ✔✔All the people who stand to gain or lose by the policies and activities of a
|| || || || || || || || || || || || || || || || ||
business and whose concerns the business needs to address.
|| || || || || || || || ||
Standards of living - ✔✔the amount of goods and services people can buy with the money
|| || || || || || || || || || || || || || || ||
they have ||
business cycle - ✔✔periodic growth and contraction of the economy
|| || || || || || || || ||
Capiltalism - ✔✔an economic system in which the factors of production and distribution are
|| || || || || || || || || || || || ||
privately owned and operated for a profit
|| || || || || || ||
command economy - ✔✔An economic system in which the government controls a country's
|| || || || || || || || || || || || ||
economy.
Communism - ✔✔A theory or system of social organization based on the holding of all
|| || || || || || || || || || || || || || ||
property in common, actual ownership being ascribed to the community as a whole or to
|| || || || || || || || || || || || || || ||
the state.
||
Consumer Price Index (CPI) - ✔✔monthly statistics that measure the pace of inflation or
|| || || || || || || || || || || || || ||
deflation
core inflation - ✔✔CPI minus food and energy costs
|| || || || || || || ||
deflation - ✔✔A situation in which prices are declining
|| || || || || || || ||
demand - ✔✔Consumer willingness and ability to buy products
|| || || || || || || ||
depression - ✔✔A period of low economic activity and rising unemployment
|| || || || || || || || || ||
, 2
Disinflation - ✔✔a situation in which price increases are slowing (the inflation rate is
|| || || || || || || || || || || || || ||
declining)
Economics - ✔✔The study of how people seek to satisfy their needs and wants by making
|| || || || || || || || || || || || || || || ||
choices
fiscal policy - ✔✔Government policy that attempts to manage the economy by controlling
|| || || || || || || || || || || || ||
taxing and spending.
|| ||
free market economy - ✔✔Capitalism, private ownership law of supply and demand
|| || || || || || || || || || ||
Gross Domestic Product (GDP) - ✔✔A measurement of the total goods and services
|| || || || || || || || || || || || ||
produced within a country.
|| || ||
Gross Output (GO) - ✔✔A measure of total sales volume at all stages of production
|| || || || || || || || || || || || || ||
Inflation - ✔✔A general and progressive increase in prices
|| || || || || || || ||
invisible hand - ✔✔term economists use to describe the self-regulating nature of the
|| || || || || || || || || || || || ||
marketplace
Keynesian economics - ✔✔Theory based on the principles of John Maynard Keynes, stating
|| || || || || || || || || || || || ||
that government spending should increase during business slumps and be curbed during
|| || || || || || || || || || || ||
booms.
Macroeconomics - ✔✔The study of the economy as a whole || || || || || || || || ||
