FBLA Introduction to Business Study Guide with complete solutions 2024

One of the disadvantages of having a partnership is unlimited liability An organization that is owned and operated by its members is a ______ cooperative Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:00 Full screen A contractual agreement to use the name and sell the products or services of a company in a designated geographic area is called a ______ . franchise If one of your goals is to limit your personal liability, it would be best to organize your business as a ______ . cooperation A business owned by ten people who share the risks and rewards of the business is a ____ partnerships 3 c's Capital, Capacity, Character, makes a completely finished product out of raw or processed parts. manufacturer packagers processor producer make the before final product moves finished goods, stores them, and resells them to a wholesaler intermediary Which department in a company sets the price of a product? marketing The highest level of management in the organization; responsible for direction and control of the organization as a whole (such as director; general manager; partner; chief officer and executive manager). top level management Responsible for meeting the goals that senior management sets middle management Responsible for monitoring the daily activities of the business operational management Which managerial function comes first when executing business goals? planning Which is NOT an aspect of the organizing function? creating strategies Which is NOT part of the leadership function for a manager in charge of a project? hiring employees In a large company, to whom would an operational manager generally report? a middle manager the ability to make decisions on your own initiative integrity honesty Who makes the final decision in a democratic leadership situation? the democratic leader Which kind of leader does the most delegating? free-rein leaders set goals for managers and employees, then allow them to make the decisions to achieve those goals. free rein leader gets input from the group, then makes the final decision about a situation. democratic leader do not ask for input from their workers; they expect their orders to be obeyed without question. autocratic Which is NOT considered an aspect of technology? inventors Which was inspired by the invention of the telephone? fax What makes a cell phone different from a telephone? cells are small computers Anyone who uses a computer while working e-workforce a store that sells products in stores and online click and mortar Which types of products do other countries mostly buy from the U.S.? agricultural When a country's currency is higher than another's, it has more buying power NAFTA North American Free Trade Agreement business that takes place within the borders of one state. interstate commerce OSHA Occupational Safety and Health Administration formed by a small number of companies rather than just one. oligopoly best for keeping money in a financial institution for a short period. checking accounts financial institutions that hold customers' funds in interest-bearing accounts and invest mainly in mortgage loans. saving and loan associations firms sell stocks and bonds, but not loans. brokerage firms how many regional banks are there for the federal reserve 12 protecting investments through risk management. financing