BUS 100 Final Exam with Verified
Answers
accounting - ✔✔functional area of business that monitors where money is spent
economics - ✔✔The study of the choices made to allocate scarce resources
finance - ✔✔the functional area of business that determines the best sources and uses of
financial capital
human resource management - ✔✔the functional area of business that maximizes the
effectiveness of its workforce
information systems - ✔✔functional area of business that uses technology to solve problems
and make decisions
macroeconomics - ✔✔the economics of country focusing on well being of overall economy
management - ✔✔functional area of business that coordinates the activities of a business to
achieve its goals
marketing - ✔✔functional area of business focused on every touchpoint with its customers
microeconomics - ✔✔the economics of individuals focusing on supply and demand
operations management - ✔✔functional area of business that converts resources into products
, supply chain management - ✔✔functional area of business that streamlines the flow of
products from point of origin to point of consumption
business - ✔✔providing goods and services to others while operating at a profit
goods - ✔✔tangible products
services - ✔✔intangible products
revenue - ✔✔money earned from conducting business
profit - ✔✔normal income derived from business
entrepreneur - ✔✔people who start a business risking their time and money
standard of living - ✔✔quality and quantity of products available to a population
stakeholders - ✔✔those affected by actions of a business
non profit - ✔✔a form of business ownership serving the public good rather than generating
financial gain
business environment - ✔✔setting in which business operates
expenses - ✔✔money spent to conduct business
risk - ✔✔chance taken to make profit
Answers
accounting - ✔✔functional area of business that monitors where money is spent
economics - ✔✔The study of the choices made to allocate scarce resources
finance - ✔✔the functional area of business that determines the best sources and uses of
financial capital
human resource management - ✔✔the functional area of business that maximizes the
effectiveness of its workforce
information systems - ✔✔functional area of business that uses technology to solve problems
and make decisions
macroeconomics - ✔✔the economics of country focusing on well being of overall economy
management - ✔✔functional area of business that coordinates the activities of a business to
achieve its goals
marketing - ✔✔functional area of business focused on every touchpoint with its customers
microeconomics - ✔✔the economics of individuals focusing on supply and demand
operations management - ✔✔functional area of business that converts resources into products
, supply chain management - ✔✔functional area of business that streamlines the flow of
products from point of origin to point of consumption
business - ✔✔providing goods and services to others while operating at a profit
goods - ✔✔tangible products
services - ✔✔intangible products
revenue - ✔✔money earned from conducting business
profit - ✔✔normal income derived from business
entrepreneur - ✔✔people who start a business risking their time and money
standard of living - ✔✔quality and quantity of products available to a population
stakeholders - ✔✔those affected by actions of a business
non profit - ✔✔a form of business ownership serving the public good rather than generating
financial gain
business environment - ✔✔setting in which business operates
expenses - ✔✔money spent to conduct business
risk - ✔✔chance taken to make profit
