Business Administration | 100 Questions and
Correct Answers (Verified Answers) Graded A+ |
New Update 2026/2027
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Terms in this set (215)
Common goal of a company Satisfy human needs;
Add value;
How can a business compete with A business can compete on 2 levels: quality and
others? quantity.
Input factors of a business Knowledge, HR, Natural resources; Capital and
Entrepreneurship
Output factors goods and services
What are some potential negative Generating pollution and waste;
effects of a business? creating health and safety risks;
disrupting communitites;
causing financial instability;
Environmental forces to consider natural and physical;
cultural;
Technological;
social;
Political and legal;
Economic;
, What's the economy? The economy is the sum of all economic activities
within a given region. It's the study of how a
society uses its resouces to produce godds and
services,
Market forces demand and supply
Entrepreneurial spirit The positive, forward-thinking desire to create
profitable, sustainable business enterprises. the
continuous passion that pushes the business
forward.
Types of Entrepreneurs classic, serial, first mover.
social entrepreneurship the pursuit of social goals while creating a
profitable business
stages of an entrepreneurial firm Birth
breakthrough
maturity
small business an independently owned business that usually
has the owner as its manager.
a small business has to: create jobs; introduce
new products; meet the needs of larger
organizations; help the economy; take risks;
provide specialized goods and services;
Why small businesses fail Lack of experience, lack of commitment, lack of
strategy, lack of expertise; growing too fast and
insufficient financing;
Partnership a business owned by two or more people.
three types of partnership: General, Limited,
Limited liability
Correct Answers (Verified Answers) Graded A+ |
New Update 2026/2027
Save
Terms in this set (215)
Common goal of a company Satisfy human needs;
Add value;
How can a business compete with A business can compete on 2 levels: quality and
others? quantity.
Input factors of a business Knowledge, HR, Natural resources; Capital and
Entrepreneurship
Output factors goods and services
What are some potential negative Generating pollution and waste;
effects of a business? creating health and safety risks;
disrupting communitites;
causing financial instability;
Environmental forces to consider natural and physical;
cultural;
Technological;
social;
Political and legal;
Economic;
, What's the economy? The economy is the sum of all economic activities
within a given region. It's the study of how a
society uses its resouces to produce godds and
services,
Market forces demand and supply
Entrepreneurial spirit The positive, forward-thinking desire to create
profitable, sustainable business enterprises. the
continuous passion that pushes the business
forward.
Types of Entrepreneurs classic, serial, first mover.
social entrepreneurship the pursuit of social goals while creating a
profitable business
stages of an entrepreneurial firm Birth
breakthrough
maturity
small business an independently owned business that usually
has the owner as its manager.
a small business has to: create jobs; introduce
new products; meet the needs of larger
organizations; help the economy; take risks;
provide specialized goods and services;
Why small businesses fail Lack of experience, lack of commitment, lack of
strategy, lack of expertise; growing too fast and
insufficient financing;
Partnership a business owned by two or more people.
three types of partnership: General, Limited,
Limited liability
