Introduction to Business Final Exam
Questions And All Correct Answers
Graded A+.
Any activity that seeks to provide goods and services to others while operating at a profit. -
Answer Business
Tangible products such as computers, food, clothing, cars, and appliances. - Answer Goods
Intangible products such as education, health care, insurance, recreation, and travel and
tourism. - Answer Services
A person who risks time and money to start and manage a business. - Answer Entrepreneur
The total amount of money a business takes in during a given period by selling goods and
services. - Answer Revenue
The amount of money a business earns above and beyond what it spends for salaries and other
expenses. - Answer Profit
When a business's expenses are more than its revenues. - Answer Loss
The chance an entrepreneur takes of losing time and money on a business that may not prove
profitable. - Answer Risk
The amount of goods and services people can buy with the money they have. - Answer
Standard of Living
The general well-being of a society in terms of its political freedom, natural environment,
education, health care, safety, amount of leisure, and rewards that add to the satisfaction and
joy that other goods and services provide. - Answer Quality of Life
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. - Answer Stakeholders
, An organization whose goals do not include making a personal profit for its owners or
organizers. - Answer Nonprofit Organization
The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge. -
Answer Factors of Production
The surrounding factors that either help or hinder the development of a business. - Answer
Business Environment
Everything from phones and copiers to computers, medical imaging devices, personal digital
assistants, and the various software programs that make business processes more effective,
efficient, and productive. - Answer Technology
The amount of output you generate given the amount of input. - Answer Productivity
The buying and selling of goods over the Internet - Answer E-Commerce
An electronic storage file for information. - Answer Database
The obtaining of individuals' personal information, such as Social Security and credit card
numbers, for illegal purposes. - Answer Identity Theft
Giving frontline workers the responsibility, authority, freedom, training, and equipment they
need to respond quickly to customer requests. - Answer Empowerment
The statistical study of the human population with regard to its size, density, and other
characteristics such as age, race, gender, and income. - Answer Demography
The movement of the temperature of the planet up or down over time. - Answer Climate
Change
The trend toward saving energy and producing products that cause less harm to the
environment. - Answer Greening
Questions And All Correct Answers
Graded A+.
Any activity that seeks to provide goods and services to others while operating at a profit. -
Answer Business
Tangible products such as computers, food, clothing, cars, and appliances. - Answer Goods
Intangible products such as education, health care, insurance, recreation, and travel and
tourism. - Answer Services
A person who risks time and money to start and manage a business. - Answer Entrepreneur
The total amount of money a business takes in during a given period by selling goods and
services. - Answer Revenue
The amount of money a business earns above and beyond what it spends for salaries and other
expenses. - Answer Profit
When a business's expenses are more than its revenues. - Answer Loss
The chance an entrepreneur takes of losing time and money on a business that may not prove
profitable. - Answer Risk
The amount of goods and services people can buy with the money they have. - Answer
Standard of Living
The general well-being of a society in terms of its political freedom, natural environment,
education, health care, safety, amount of leisure, and rewards that add to the satisfaction and
joy that other goods and services provide. - Answer Quality of Life
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. - Answer Stakeholders
, An organization whose goals do not include making a personal profit for its owners or
organizers. - Answer Nonprofit Organization
The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge. -
Answer Factors of Production
The surrounding factors that either help or hinder the development of a business. - Answer
Business Environment
Everything from phones and copiers to computers, medical imaging devices, personal digital
assistants, and the various software programs that make business processes more effective,
efficient, and productive. - Answer Technology
The amount of output you generate given the amount of input. - Answer Productivity
The buying and selling of goods over the Internet - Answer E-Commerce
An electronic storage file for information. - Answer Database
The obtaining of individuals' personal information, such as Social Security and credit card
numbers, for illegal purposes. - Answer Identity Theft
Giving frontline workers the responsibility, authority, freedom, training, and equipment they
need to respond quickly to customer requests. - Answer Empowerment
The statistical study of the human population with regard to its size, density, and other
characteristics such as age, race, gender, and income. - Answer Demography
The movement of the temperature of the planet up or down over time. - Answer Climate
Change
The trend toward saving energy and producing products that cause less harm to the
environment. - Answer Greening
