BA 101 MIDTERM 1 UNIVERSITY OF
OREGON COMPLETE STUDY GUIDE
PRACTICE QUESTIONS AND REVIEW NOTES
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Standard of living Amount of goods and services people can buy with the money they have
Quality of life General well-being of a society in terms of its political freedom, natural
environment, education, health care, safety, amount of leisure and rewards that
add to satisfaction and joy that other goods and services provide
Stakeholders People who stand to gain or lose by the polices and activities of a business and
whose concerns the business needs to address. Ex: Customers, employees,
stockholders, suppliers, dealers, eat.
Outsourcing Contracting with other companies to do some or all of the functions of a firm, like
its production or accounting tasks. May be used in order to stay competitive.
The Five Factors of Production 1. Land and natural resources
2. Workers
3. Capital-includes machines, tools and what is used in the production of goods
4.Entrepreneurship
5.Knowledge- most important factor
Empowerment Giving the frontline people responsibility, equipment and freedom they need to
respond to customers
Demography statistical study of the human population
World trade or globalization Grown thanks to the development of efficient distribution systems and the
internet
War and Terrorism Business people and citizens benefit from a peaceful and prosperous world
Economics Study of how society choses to employ resources to produce goods and services
and distribute them for consumption among various competing groups and
individuals. As referred to as the study of the allocation of scarce resources.
OREGON COMPLETE STUDY GUIDE
PRACTICE QUESTIONS AND REVIEW NOTES
| GRADED A+ | GUARANTEED SUCCESS
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales Included
, Standard of living Amount of goods and services people can buy with the money they have
Quality of life General well-being of a society in terms of its political freedom, natural
environment, education, health care, safety, amount of leisure and rewards that
add to satisfaction and joy that other goods and services provide
Stakeholders People who stand to gain or lose by the polices and activities of a business and
whose concerns the business needs to address. Ex: Customers, employees,
stockholders, suppliers, dealers, eat.
Outsourcing Contracting with other companies to do some or all of the functions of a firm, like
its production or accounting tasks. May be used in order to stay competitive.
The Five Factors of Production 1. Land and natural resources
2. Workers
3. Capital-includes machines, tools and what is used in the production of goods
4.Entrepreneurship
5.Knowledge- most important factor
Empowerment Giving the frontline people responsibility, equipment and freedom they need to
respond to customers
Demography statistical study of the human population
World trade or globalization Grown thanks to the development of efficient distribution systems and the
internet
War and Terrorism Business people and citizens benefit from a peaceful and prosperous world
Economics Study of how society choses to employ resources to produce goods and services
and distribute them for consumption among various competing groups and
individuals. As referred to as the study of the allocation of scarce resources.
