Business Administration Exam 1
Questions and Answers 100% Pass
Entrepreneurship - ANSWER-People who own, operate, and assume the risk of a
business venture; trying to meet a need in the market
Fixed Cost - ANSWER-A cost that does not change with an increase or decrease
in the amount of goods or services produced or sold
Aptitude - ANSWER-A natural ability to do something
Marginal Benefit - ANSWER-The additional satisfaction or utility that a person
receives from consuming an additional unit of a good or service
Consensus - ANSWER-A general agreement
Productivity - ANSWER-The effectiveness of productive effort, especially in
industry, as measured in terms of the rate of output per unit of input
Brainstorming - ANSWER-The process of of producing an idea or way of solving
a problem by holding a spontaneous group discussion
Profit - ANSWER-A financial gain, especially the difference between the amount
earned and the amount spent in buying, operating, or producing something
Demand - ANSWER-An insistent and peremptory request, made as if by right
COPYRIGHT 2025 ALL RIGHTS RESERVED, TRUSTED AND VERIFIED 1
Questions and Answers 100% Pass
Entrepreneurship - ANSWER-People who own, operate, and assume the risk of a
business venture; trying to meet a need in the market
Fixed Cost - ANSWER-A cost that does not change with an increase or decrease
in the amount of goods or services produced or sold
Aptitude - ANSWER-A natural ability to do something
Marginal Benefit - ANSWER-The additional satisfaction or utility that a person
receives from consuming an additional unit of a good or service
Consensus - ANSWER-A general agreement
Productivity - ANSWER-The effectiveness of productive effort, especially in
industry, as measured in terms of the rate of output per unit of input
Brainstorming - ANSWER-The process of of producing an idea or way of solving
a problem by holding a spontaneous group discussion
Profit - ANSWER-A financial gain, especially the difference between the amount
earned and the amount spent in buying, operating, or producing something
Demand - ANSWER-An insistent and peremptory request, made as if by right
COPYRIGHT 2025 ALL RIGHTS RESERVED, TRUSTED AND VERIFIED 1
