BUS 100 ACTUAL 2026 STUDY GUIDE QUESTIONS AND
ANSWERS RATED A+
✔✔Geographical - ✔✔The grouping of jobs according to geographic location, such as
state, region, country, or continent
✔✔Customer - ✔✔The arrangement of jobs around the needs of various types of
customers
✔✔Business Ethics - ✔✔Principles and standards that determine acceptable conduct in
business
✔✔Social Responsibility - ✔✔A business's obligation to maximize its positive impact
and minimize its negative impact on society
✔✔Codes of Ethics - ✔✔Formalized rules and standards that describe what a company
expects of its employees
✔✔Business - ✔✔Individuals or organization who try to earn a profit by providing
products that satisfy people's needs
✔✔Profit - ✔✔The difference between what it costs to make and sell a product and what
a customer pays for it
✔✔Nonprofit - ✔✔Organizations that may provide goods or services but do not have the
fundamental purpose of earning profits
✔✔Inputs - ✔✔Capacity: max amount
Labor-force: unique
Inventory: Don't run out of supplies
Facilities: Location
✔✔Outputs - ✔✔Quality
Innovation
Responsiveness
Efficiency
✔✔Product Life Cycle - ✔✔Intro
Growth
Maturity
Decline
✔✔Intro - ✔✔Consumer awareness and acceptance of the product are limited, profits
are negative
, ✔✔Growth - ✔✔Sales increase rapidly and profits peak, then start to decline
✔✔Maturity - ✔✔Start to increase at maturity then the sales curve peaks and starts to
decline while profits continue to decline
✔✔Decline - ✔✔Sales continue to fall rapidly
✔✔Mayo - ✔✔Hawthorne Studies: Being paid attention to matters
✔✔Maslow - ✔✔Hierarchy of Needs: Physiological, Security, Social, Esteem, Self-
Actualization, un met needs matter
✔✔Herzberg - ✔✔2 Factor Theory: Hygiene factors absence motivates
✔✔McGregor - ✔✔Theory X & Y: X forced to work, Y: wants to work
✔✔Adams - ✔✔Equity Theory: fairness matters
✔✔Vroom - ✔✔Expectancy Theory: Belief in attainment of reward matters
✔✔Ouchi - ✔✔Theory Z: employee participation matters
✔✔Price Skimming - ✔✔Charging the highest possible price that buyers who want the
product will pay
✔✔Penetration Price - ✔✔A low price designed to help a product enter the market and
gain market share rapidly
✔✔Price - ✔✔A value placed on an object exchanged between a buyer and a seller
✔✔Place - ✔✔Making products available to customers in the quantities desired
✔✔Product (Marketing) - ✔✔Is a complex mix of tangible and intangible attributes that
provide satisfaction and benefits
✔✔Promotion - ✔✔A persuasive form of communication
✔✔Income Statement - ✔✔A financial report that shows an organization's profitability
over a period of time
✔✔Revenue - ✔✔Is the total amount of money received from the sale of goods or
services as well as from other business activities
ANSWERS RATED A+
✔✔Geographical - ✔✔The grouping of jobs according to geographic location, such as
state, region, country, or continent
✔✔Customer - ✔✔The arrangement of jobs around the needs of various types of
customers
✔✔Business Ethics - ✔✔Principles and standards that determine acceptable conduct in
business
✔✔Social Responsibility - ✔✔A business's obligation to maximize its positive impact
and minimize its negative impact on society
✔✔Codes of Ethics - ✔✔Formalized rules and standards that describe what a company
expects of its employees
✔✔Business - ✔✔Individuals or organization who try to earn a profit by providing
products that satisfy people's needs
✔✔Profit - ✔✔The difference between what it costs to make and sell a product and what
a customer pays for it
✔✔Nonprofit - ✔✔Organizations that may provide goods or services but do not have the
fundamental purpose of earning profits
✔✔Inputs - ✔✔Capacity: max amount
Labor-force: unique
Inventory: Don't run out of supplies
Facilities: Location
✔✔Outputs - ✔✔Quality
Innovation
Responsiveness
Efficiency
✔✔Product Life Cycle - ✔✔Intro
Growth
Maturity
Decline
✔✔Intro - ✔✔Consumer awareness and acceptance of the product are limited, profits
are negative
, ✔✔Growth - ✔✔Sales increase rapidly and profits peak, then start to decline
✔✔Maturity - ✔✔Start to increase at maturity then the sales curve peaks and starts to
decline while profits continue to decline
✔✔Decline - ✔✔Sales continue to fall rapidly
✔✔Mayo - ✔✔Hawthorne Studies: Being paid attention to matters
✔✔Maslow - ✔✔Hierarchy of Needs: Physiological, Security, Social, Esteem, Self-
Actualization, un met needs matter
✔✔Herzberg - ✔✔2 Factor Theory: Hygiene factors absence motivates
✔✔McGregor - ✔✔Theory X & Y: X forced to work, Y: wants to work
✔✔Adams - ✔✔Equity Theory: fairness matters
✔✔Vroom - ✔✔Expectancy Theory: Belief in attainment of reward matters
✔✔Ouchi - ✔✔Theory Z: employee participation matters
✔✔Price Skimming - ✔✔Charging the highest possible price that buyers who want the
product will pay
✔✔Penetration Price - ✔✔A low price designed to help a product enter the market and
gain market share rapidly
✔✔Price - ✔✔A value placed on an object exchanged between a buyer and a seller
✔✔Place - ✔✔Making products available to customers in the quantities desired
✔✔Product (Marketing) - ✔✔Is a complex mix of tangible and intangible attributes that
provide satisfaction and benefits
✔✔Promotion - ✔✔A persuasive form of communication
✔✔Income Statement - ✔✔A financial report that shows an organization's profitability
over a period of time
✔✔Revenue - ✔✔Is the total amount of money received from the sale of goods or
services as well as from other business activities
