Business Administration Exam test
quizzes with answers graded A+
Entrepreneurship - ANS✅✅People who own, operate, and assume the risk of a business venture;
trying to meet a need in the market
Fixed Cost - ANS✅✅A cost that does not change with an increase or decrease in the amount of
goods or services produced or sold
Aptitude - ANS✅✅A natural ability to do something
Marginal Benefit - ANS✅✅The additional satisfaction or utility that a person receives from
consuming an additional unit of a good or service
Consensus - ANS✅✅A general agreement
Productivity - ANS✅✅The effectiveness of productive effort, especially in industry, as measured in
terms of the rate of output per unit of input
Brainstorming - ANS✅✅The process of of producing an idea or way of solving a problem by
holding a spontaneous group discussion
Profit - ANS✅✅A financial gain, especially the difference between the amount earned and the
amount spent in buying, operating, or producing something
Demand - ANS✅✅An insistent and peremptory request, made as if by right
Opportunity Cost - ANS✅✅The loss of potential gain from other alternatives when on alternative is
chosen
Scarcity - ANS✅✅The state of being scarce or in short supply
Equilibrium - ANS✅✅A state in which opposing forces or influences are balanced
quizzes with answers graded A+
Entrepreneurship - ANS✅✅People who own, operate, and assume the risk of a business venture;
trying to meet a need in the market
Fixed Cost - ANS✅✅A cost that does not change with an increase or decrease in the amount of
goods or services produced or sold
Aptitude - ANS✅✅A natural ability to do something
Marginal Benefit - ANS✅✅The additional satisfaction or utility that a person receives from
consuming an additional unit of a good or service
Consensus - ANS✅✅A general agreement
Productivity - ANS✅✅The effectiveness of productive effort, especially in industry, as measured in
terms of the rate of output per unit of input
Brainstorming - ANS✅✅The process of of producing an idea or way of solving a problem by
holding a spontaneous group discussion
Profit - ANS✅✅A financial gain, especially the difference between the amount earned and the
amount spent in buying, operating, or producing something
Demand - ANS✅✅An insistent and peremptory request, made as if by right
Opportunity Cost - ANS✅✅The loss of potential gain from other alternatives when on alternative is
chosen
Scarcity - ANS✅✅The state of being scarce or in short supply
Equilibrium - ANS✅✅A state in which opposing forces or influences are balanced
