BUS 201 CHAPTER 2 QUESTIONS WITH ACCURATE
ANSWERS
aggregate output correct answer Total quality of goods and services produced by
an economic system during a given period
Applied RnD correct answer Focusing specifically on how a technological
innovation can be put to use in the making of a product or service that can be sold
in the marketplace
Aquisition correct answer the purchase of a company by another, larger firm,
which absorbs the smaller company into operations
Balance of trade correct answer The economic value of all the products that a
country exports minus the economic value of all the products it imports
Basic RnD correct answer improving knowledge in an area without a primary
focus on wether any discoveries that might occur are immediately marketable
Budget deficits correct answer The result of the government spending more in
one year that it takes in during that year
Business cycle correct answer Pattern of short-term ups and downs(expansions
and contractions) in an economy
business process management correct answer approach by which firms move
away from department-oriented organization and toward process-oriented team
structures that cut across old departmental boundaries
Conglomerate merger correct answer a merger of two firms in completely
unrelated businesses
Consumer price index correct answer Measure of the prices of typical products
purchased by consumers living in urban areas
core competencies correct answer skills and resources with which an organization
competes best and creates most value for owners
Deflation correct answer A period of generally falling prices
ANSWERS
aggregate output correct answer Total quality of goods and services produced by
an economic system during a given period
Applied RnD correct answer Focusing specifically on how a technological
innovation can be put to use in the making of a product or service that can be sold
in the marketplace
Aquisition correct answer the purchase of a company by another, larger firm,
which absorbs the smaller company into operations
Balance of trade correct answer The economic value of all the products that a
country exports minus the economic value of all the products it imports
Basic RnD correct answer improving knowledge in an area without a primary
focus on wether any discoveries that might occur are immediately marketable
Budget deficits correct answer The result of the government spending more in
one year that it takes in during that year
Business cycle correct answer Pattern of short-term ups and downs(expansions
and contractions) in an economy
business process management correct answer approach by which firms move
away from department-oriented organization and toward process-oriented team
structures that cut across old departmental boundaries
Conglomerate merger correct answer a merger of two firms in completely
unrelated businesses
Consumer price index correct answer Measure of the prices of typical products
purchased by consumers living in urban areas
core competencies correct answer skills and resources with which an organization
competes best and creates most value for owners
Deflation correct answer A period of generally falling prices
