Business Management Exam
questions and answers graded A+
Any activity that seeks to provide goods and services to others while operating at a profit. -
ANS✅✅Business
Tangible products such as computers, food, clothing, cars, and appliances. - ANS✅✅Goods
Intangible products such as education, health care, insurance, recreation, and travel and tourism. -
ANS✅✅Services
A person who risks time and money to start and manage a business. - ANS✅✅Entrepreneur
The total amount of money a business takes in during a given period by selling goods and services. -
ANS✅✅Revenue
The amount of money a business earns above and beyond what it spends for salaries and other
expenses. - ANS✅✅Profit
When a business's expenses are more than its revenues. - ANS✅✅Loss
The chance an entrepreneur takes of losing time and money on a business that may not prove
profitable. - ANS✅✅Risk
The amount of goods and services people can buy with the money they have. - ANS✅✅Standard
of Living
The 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 the satisfaction and joy that other
goods and services provide. - ANS✅✅Quality of Life
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. - ANS✅✅Stakeholders
, Contracting with other companies to do some or all of the functions of a firm, like its production or
accounting tasks. - ANS✅✅Outsourcing
An organization whose goals do not include making a personal profit for its owners or organizers. -
ANS✅✅Nonprofit Organization
The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge. -
ANS✅✅Factors of Production
The surrounding factors that either help or hinder the development of a business. -
ANS✅✅Business Environment
Everything from phones and copiers to computers, medical imaging devices, personal digital
assistants, and the various software programs that make business processes more effective,
efficient, and productive. - ANS✅✅Technology
The amount of output you generate given the amount of input. - ANS✅✅Productivity
The buying and selling of goods over the Internet - ANS✅✅E-Commerce
An electronic storage file for information. - ANS✅✅Database
The obtaining of individuals' personal information, such as Social Security and credit card numbers,
for illegal purposes. - ANS✅✅Identity Theft
Giving frontline workers the responsibility, authority, freedom, training, and equipment they need to
respond quickly to customer requests. - ANS✅✅Empowerment
The statistical study of the human population with regard to its size, density, and other
characteristics such as age, race, gender, and income. - ANS✅✅Demography
The movement of the temperature of the planet up or down over time. - ANS✅✅Climate Change
questions and answers graded A+
Any activity that seeks to provide goods and services to others while operating at a profit. -
ANS✅✅Business
Tangible products such as computers, food, clothing, cars, and appliances. - ANS✅✅Goods
Intangible products such as education, health care, insurance, recreation, and travel and tourism. -
ANS✅✅Services
A person who risks time and money to start and manage a business. - ANS✅✅Entrepreneur
The total amount of money a business takes in during a given period by selling goods and services. -
ANS✅✅Revenue
The amount of money a business earns above and beyond what it spends for salaries and other
expenses. - ANS✅✅Profit
When a business's expenses are more than its revenues. - ANS✅✅Loss
The chance an entrepreneur takes of losing time and money on a business that may not prove
profitable. - ANS✅✅Risk
The amount of goods and services people can buy with the money they have. - ANS✅✅Standard
of Living
The 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 the satisfaction and joy that other
goods and services provide. - ANS✅✅Quality of Life
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. - ANS✅✅Stakeholders
, Contracting with other companies to do some or all of the functions of a firm, like its production or
accounting tasks. - ANS✅✅Outsourcing
An organization whose goals do not include making a personal profit for its owners or organizers. -
ANS✅✅Nonprofit Organization
The resources used to create wealth: land, labor, capital, entrepreneurship, and knowledge. -
ANS✅✅Factors of Production
The surrounding factors that either help or hinder the development of a business. -
ANS✅✅Business Environment
Everything from phones and copiers to computers, medical imaging devices, personal digital
assistants, and the various software programs that make business processes more effective,
efficient, and productive. - ANS✅✅Technology
The amount of output you generate given the amount of input. - ANS✅✅Productivity
The buying and selling of goods over the Internet - ANS✅✅E-Commerce
An electronic storage file for information. - ANS✅✅Database
The obtaining of individuals' personal information, such as Social Security and credit card numbers,
for illegal purposes. - ANS✅✅Identity Theft
Giving frontline workers the responsibility, authority, freedom, training, and equipment they need to
respond quickly to customer requests. - ANS✅✅Empowerment
The statistical study of the human population with regard to its size, density, and other
characteristics such as age, race, gender, and income. - ANS✅✅Demography
The movement of the temperature of the planet up or down over time. - ANS✅✅Climate Change
