Business Economics – Questions With Reviewed
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Practice questions for this set
Learn 1 /7 Study with Learn
A business structure that requires the authorization or permission from an owner
to another entity to use trademarked, copyrighted (e.g., logo, name), or patented
material for a specific activity, during a specific time period, for the profit of both
parties
Choose an answer
1 Bilk 2 Licensing
3 Insurance 4 Corporation
Don't know?
Terms in this set (120)
Bilk Cheat, swindle, defraud
The possibility of loss (failure) or gain (success) inherent
Business risk
in conducting business
The rivalry between two or more businesses to attract
Competition
scarce customer dollars
, Agreement between two or more businesses or
Contract individuals stating that one party is to do something in
return for something provided by the other party
A form of business ownership that is owned by
Corporation stockholders who have purchased units or shares of the
company
The quantity of a good or service that buyers are ready
Demand
to buy at a given price at a particular time
Financial risks that a business cannot control, such as
Economic risks
inflation and interest rate fluctuations
Insurance coverage to protect a business from losses
Fidelity bond
due to employee theft
Possible events and situations that directly impact a
Financial risk
company's cash flow
An economic system in which individuals and groups,
rather than the government, own or control the means
Free enterprise of production—the human and natural resources and
capital goods used to produce goods and services;
also known as private enterprise
A promise made to the consumer that a product's
Guarantee purchase price will be refunded if the product is not
satisfactory; often called a money-back guarantee
Potential events or situations that can cause injury or
Hazard risks
harm to people, property, or the environment
A contractual agreement in which one company
(insurer) will pay for specified losses incurred by the
Insurance
other company (insured) in return for installment
payments (premium)
Financial risks that are controlled by the business, such
Internal risks as poor budgeting, inaccurate financial data, and
inadequate accounting processes
Investment The use of money to generate a profit or gain
A contract to use property that belongs to someone
Lease else for a specific period of time and for a specific
amount of money
Solutions
Save
Practice questions for this set
Learn 1 /7 Study with Learn
A business structure that requires the authorization or permission from an owner
to another entity to use trademarked, copyrighted (e.g., logo, name), or patented
material for a specific activity, during a specific time period, for the profit of both
parties
Choose an answer
1 Bilk 2 Licensing
3 Insurance 4 Corporation
Don't know?
Terms in this set (120)
Bilk Cheat, swindle, defraud
The possibility of loss (failure) or gain (success) inherent
Business risk
in conducting business
The rivalry between two or more businesses to attract
Competition
scarce customer dollars
, Agreement between two or more businesses or
Contract individuals stating that one party is to do something in
return for something provided by the other party
A form of business ownership that is owned by
Corporation stockholders who have purchased units or shares of the
company
The quantity of a good or service that buyers are ready
Demand
to buy at a given price at a particular time
Financial risks that a business cannot control, such as
Economic risks
inflation and interest rate fluctuations
Insurance coverage to protect a business from losses
Fidelity bond
due to employee theft
Possible events and situations that directly impact a
Financial risk
company's cash flow
An economic system in which individuals and groups,
rather than the government, own or control the means
Free enterprise of production—the human and natural resources and
capital goods used to produce goods and services;
also known as private enterprise
A promise made to the consumer that a product's
Guarantee purchase price will be refunded if the product is not
satisfactory; often called a money-back guarantee
Potential events or situations that can cause injury or
Hazard risks
harm to people, property, or the environment
A contractual agreement in which one company
(insurer) will pay for specified losses incurred by the
Insurance
other company (insured) in return for installment
payments (premium)
Financial risks that are controlled by the business, such
Internal risks as poor budgeting, inaccurate financial data, and
inadequate accounting processes
Investment The use of money to generate a profit or gain
A contract to use property that belongs to someone
Lease else for a specific period of time and for a specific
amount of money
