Troy BUS 6600 EXAM QUESTIONS
|\ |\ |\ |\ |\
WITH ANSWERS |\
Business - CORRECT ANSWERS ✔✔any activity that seeks
|\ |\ |\ |\ |\ |\ |\ |\
to provide goods and services to others while operating at
|\ |\ |\ |\ |\ |\ |\ |\ |\
a profit
|\ |\
business environment - CORRECT ANSWERS ✔✔the
|\ |\ |\ |\ |\ |\
surrounding factors that either help or hinder the |\ |\ |\ |\ |\ |\ |\ |\
development of businesses |\ |\
climate change - CORRECT ANSWERS ✔✔a change in the
|\ |\ |\ |\ |\ |\ |\ |\ |\
planet's temperature over time
|\ |\ |\
database - CORRECT ANSWERS ✔✔a collection of
|\ |\ |\ |\ |\ |\ |\
organized data that allows access, retrieval, and use of
|\ |\ |\ |\ |\ |\ |\ |\ |\
data
Demography - CORRECT ANSWERS ✔✔The scientific |\ |\ |\ |\ |\ |\
study of population characteristics.
|\ |\ |\
e-commerce - CORRECT ANSWERS ✔✔the buying and |\ |\ |\ |\ |\ |\ |\
selling of goods over the internet
|\ |\ |\ |\ |\
,Entrepreneur - CORRECT ANSWERS ✔✔A person who risks |\ |\ |\ |\ |\ |\ |\
time and money to start and manage a business
|\ |\ |\ |\ |\ |\ |\ |\ |\
Empowerment - CORRECT ANSWERS ✔✔giving employees |\ |\ |\ |\ |\
the authority to correct a problem without first checking
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with management
|\
factors of production - CORRECT ANSWERS ✔✔the
|\ |\ |\ |\ |\ |\ |\
resources that are used to create wealth |\ |\ |\ |\ |\ |\
goods - CORRECT ANSWERS ✔✔Items purchased to
|\ |\ |\ |\ |\ |\ |\
satisfy needs and wants |\ |\ |\
Greening - CORRECT ANSWERS ✔✔the trend toward
|\ |\ |\ |\ |\ |\ |\
saving energy and producing products that cause less
|\ |\ |\ |\ |\ |\ |\ |\
harm to the environment
|\ |\ |\
identity theft - CORRECT ANSWERS ✔✔The forging of
|\ |\ |\ |\ |\ |\ |\ |\
someone's identity for the purpose of fraud |\ |\ |\ |\ |\ |\
loss - CORRECT ANSWERS ✔✔when a business's expenses
|\ |\ |\ |\ |\ |\ |\
are more than its revenues
|\ |\ |\ |\ |\
,non-profit organization - CORRECT ANSWERS ✔✔an |\ |\ |\ |\ |\ |\
organization whose goals do not include making a |\ |\ |\ |\ |\ |\ |\ |\
personal profit for its owners or organizers |\ |\ |\ |\ |\ |\
outsourcing - CORRECT ANSWERS ✔✔Contracting with |\ |\ |\ |\ |\ |\
other companies (often in other countries) to do some or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
all of the functions of a firm, like its production or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accounting tasks. |\
productivity - CORRECT ANSWERS ✔✔The value of a |\ |\ |\ |\ |\ |\ |\ |\
particular product compared to the amount of labor |\ |\ |\ |\ |\ |\ |\ |\
needed to make it. |\ |\ |\
profit - CORRECT ANSWERS ✔✔The financial gain made in
|\ |\ |\ |\ |\ |\ |\ |\
a transaction
|\ |\
quality of life - CORRECT ANSWERS ✔✔the standard of
|\ |\ |\ |\ |\ |\ |\ |\ |\
health, comfort, and happiness experienced by an
|\ |\ |\ |\ |\ |\ |\
individual or group. |\ |\
revenue - CORRECT ANSWERS ✔✔income |\ |\ |\ |\
risk - CORRECT ANSWERS ✔✔Degree of uncertainty of
|\ |\ |\ |\ |\ |\ |\ |\
return on an asset; in business, the likelihood of loss or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
reduced profit. |\
, services - CORRECT ANSWERS ✔✔intangible products
|\ |\ |\ |\ |\
stakeholders - CORRECT ANSWERS ✔✔All the people who |\ |\ |\ |\ |\ |\ |\ |\
stand to gain or lose by the policies and activities of a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
business and whose concerns the business needs to
|\ |\ |\ |\ |\ |\ |\ |\
address.
Standards of living - CORRECT ANSWERS ✔✔the amount
|\ |\ |\ |\ |\ |\ |\ |\
of goods and services people can buy with the money
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
they have |\
business cycle - CORRECT ANSWERS ✔✔periodic growth
|\ |\ |\ |\ |\ |\ |\
and contraction of the economy
|\ |\ |\ |\
Capiltalism - CORRECT ANSWERS ✔✔an economic system
|\ |\ |\ |\ |\ |\
in which the factors of production and distribution are
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
privately owned and operated for a profit
|\ |\ |\ |\ |\ |\
command economy - CORRECT ANSWERS ✔✔An |\ |\ |\ |\ |\ |\
economic system in which the government controls a
|\ |\ |\ |\ |\ |\ |\ |\
country's economy. |\
Communism - CORRECT ANSWERS ✔✔A theory or system |\ |\ |\ |\ |\ |\ |\ |\
of social organization based on the holding of all property
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
|\ |\ |\ |\ |\
WITH ANSWERS |\
Business - CORRECT ANSWERS ✔✔any activity that seeks
|\ |\ |\ |\ |\ |\ |\ |\
to provide goods and services to others while operating at
|\ |\ |\ |\ |\ |\ |\ |\ |\
a profit
|\ |\
business environment - CORRECT ANSWERS ✔✔the
|\ |\ |\ |\ |\ |\
surrounding factors that either help or hinder the |\ |\ |\ |\ |\ |\ |\ |\
development of businesses |\ |\
climate change - CORRECT ANSWERS ✔✔a change in the
|\ |\ |\ |\ |\ |\ |\ |\ |\
planet's temperature over time
|\ |\ |\
database - CORRECT ANSWERS ✔✔a collection of
|\ |\ |\ |\ |\ |\ |\
organized data that allows access, retrieval, and use of
|\ |\ |\ |\ |\ |\ |\ |\ |\
data
Demography - CORRECT ANSWERS ✔✔The scientific |\ |\ |\ |\ |\ |\
study of population characteristics.
|\ |\ |\
e-commerce - CORRECT ANSWERS ✔✔the buying and |\ |\ |\ |\ |\ |\ |\
selling of goods over the internet
|\ |\ |\ |\ |\
,Entrepreneur - CORRECT ANSWERS ✔✔A person who risks |\ |\ |\ |\ |\ |\ |\
time and money to start and manage a business
|\ |\ |\ |\ |\ |\ |\ |\ |\
Empowerment - CORRECT ANSWERS ✔✔giving employees |\ |\ |\ |\ |\
the authority to correct a problem without first checking
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
with management
|\
factors of production - CORRECT ANSWERS ✔✔the
|\ |\ |\ |\ |\ |\ |\
resources that are used to create wealth |\ |\ |\ |\ |\ |\
goods - CORRECT ANSWERS ✔✔Items purchased to
|\ |\ |\ |\ |\ |\ |\
satisfy needs and wants |\ |\ |\
Greening - CORRECT ANSWERS ✔✔the trend toward
|\ |\ |\ |\ |\ |\ |\
saving energy and producing products that cause less
|\ |\ |\ |\ |\ |\ |\ |\
harm to the environment
|\ |\ |\
identity theft - CORRECT ANSWERS ✔✔The forging of
|\ |\ |\ |\ |\ |\ |\ |\
someone's identity for the purpose of fraud |\ |\ |\ |\ |\ |\
loss - CORRECT ANSWERS ✔✔when a business's expenses
|\ |\ |\ |\ |\ |\ |\
are more than its revenues
|\ |\ |\ |\ |\
,non-profit organization - CORRECT ANSWERS ✔✔an |\ |\ |\ |\ |\ |\
organization whose goals do not include making a |\ |\ |\ |\ |\ |\ |\ |\
personal profit for its owners or organizers |\ |\ |\ |\ |\ |\
outsourcing - CORRECT ANSWERS ✔✔Contracting with |\ |\ |\ |\ |\ |\
other companies (often in other countries) to do some or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
all of the functions of a firm, like its production or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
accounting tasks. |\
productivity - CORRECT ANSWERS ✔✔The value of a |\ |\ |\ |\ |\ |\ |\ |\
particular product compared to the amount of labor |\ |\ |\ |\ |\ |\ |\ |\
needed to make it. |\ |\ |\
profit - CORRECT ANSWERS ✔✔The financial gain made in
|\ |\ |\ |\ |\ |\ |\ |\
a transaction
|\ |\
quality of life - CORRECT ANSWERS ✔✔the standard of
|\ |\ |\ |\ |\ |\ |\ |\ |\
health, comfort, and happiness experienced by an
|\ |\ |\ |\ |\ |\ |\
individual or group. |\ |\
revenue - CORRECT ANSWERS ✔✔income |\ |\ |\ |\
risk - CORRECT ANSWERS ✔✔Degree of uncertainty of
|\ |\ |\ |\ |\ |\ |\ |\
return on an asset; in business, the likelihood of loss or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
reduced profit. |\
, services - CORRECT ANSWERS ✔✔intangible products
|\ |\ |\ |\ |\
stakeholders - CORRECT ANSWERS ✔✔All the people who |\ |\ |\ |\ |\ |\ |\ |\
stand to gain or lose by the policies and activities of a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
business and whose concerns the business needs to
|\ |\ |\ |\ |\ |\ |\ |\
address.
Standards of living - CORRECT ANSWERS ✔✔the amount
|\ |\ |\ |\ |\ |\ |\ |\
of goods and services people can buy with the money
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
they have |\
business cycle - CORRECT ANSWERS ✔✔periodic growth
|\ |\ |\ |\ |\ |\ |\
and contraction of the economy
|\ |\ |\ |\
Capiltalism - CORRECT ANSWERS ✔✔an economic system
|\ |\ |\ |\ |\ |\
in which the factors of production and distribution are
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
privately owned and operated for a profit
|\ |\ |\ |\ |\ |\
command economy - CORRECT ANSWERS ✔✔An |\ |\ |\ |\ |\ |\
economic system in which the government controls a
|\ |\ |\ |\ |\ |\ |\ |\
country's economy. |\
Communism - CORRECT ANSWERS ✔✔A theory or system |\ |\ |\ |\ |\ |\ |\ |\
of social organization based on the holding of all property
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
