BUSN 100 MIDTERM EXAM APUS
COMPREHENSIVE STUDY GUIDE 2026
◉ Business success indicator. Answer: Their Profit
◉ Benefits of business. Answer: Provide goods and services, create
jobs, provide income
◉ External business environment. Answer: The economy, the
political legal, global
◉ Economic systems. Answer: how a government allocates
resources to their citizens
◉ Planned economy. Answer: Relies on centralized government to
control all or most factors of production and to make all or most
allocations
◉ Market economy. Answer: individual producers and consumers
control production and allocation by creating combinations of
supply demand
, ◉ Mixed market economy. Answer: Features characteristics of both
planned and market economy
◉ Privatization. Answer: process of converting government
enterprises into privately owned companies
◉ Supply. Answer: What the business offers
◉ Demand. Answer: What the customers want
◉ Purchasing power. Answer: exchange rates, what currency is
worth
◉ Establishing an ethical organization. Answer: create a code of
ethics
◉ Reinforcing ethical standards. Answer: behavior towards
employees, the organization, and other economic agents
◉ Sustainability. Answer: "How we keep going"
Manage resources responsibly
Using removable resources that are restrainable so you don't run out
COMPREHENSIVE STUDY GUIDE 2026
◉ Business success indicator. Answer: Their Profit
◉ Benefits of business. Answer: Provide goods and services, create
jobs, provide income
◉ External business environment. Answer: The economy, the
political legal, global
◉ Economic systems. Answer: how a government allocates
resources to their citizens
◉ Planned economy. Answer: Relies on centralized government to
control all or most factors of production and to make all or most
allocations
◉ Market economy. Answer: individual producers and consumers
control production and allocation by creating combinations of
supply demand
, ◉ Mixed market economy. Answer: Features characteristics of both
planned and market economy
◉ Privatization. Answer: process of converting government
enterprises into privately owned companies
◉ Supply. Answer: What the business offers
◉ Demand. Answer: What the customers want
◉ Purchasing power. Answer: exchange rates, what currency is
worth
◉ Establishing an ethical organization. Answer: create a code of
ethics
◉ Reinforcing ethical standards. Answer: behavior towards
employees, the organization, and other economic agents
◉ Sustainability. Answer: "How we keep going"
Manage resources responsibly
Using removable resources that are restrainable so you don't run out
