Business Administration exam test
quiz and answers graded A+
Business - ANS✅✅Any activity that seeks to provide goods or services while operating at a profit.
Revenue - ANS✅✅The total amount of money a business takes in during a given period of time by
selling goods and services.
Profit - ANS✅✅The amount of money a business earns beyond what it spends for salaries and
other expenses.
Risk - ANS✅✅The chance an entrepreneur takes of losing time and money on a business that may
not prove profitable.
Reward - ANS✅✅The greater the risk, the better the reward...
Entrepreneur - ANS✅✅A person who risks time and money to start and manage a business.
Stakeholders - ANS✅✅All people who stand to gain or lose by the policies and activities of a
business and whose concerns the business needs to address.
Economics - ANS✅✅the study of how society employs resources to produce goods and services for
consumption among various groups and individuals.
Capitalism - ANS✅✅All or most of the land/factories and stores are owned by individuals, not the
government, and operated for profit.
Supply - ANS✅✅Quantities of products businesses are willing to sell at different prices.
Demand - ANS✅✅Quantities of products consumers are willing to buy at different prices.
Exporting - ANS✅✅Selling products to another country.
quiz and answers graded A+
Business - ANS✅✅Any activity that seeks to provide goods or services while operating at a profit.
Revenue - ANS✅✅The total amount of money a business takes in during a given period of time by
selling goods and services.
Profit - ANS✅✅The amount of money a business earns beyond what it spends for salaries and
other expenses.
Risk - ANS✅✅The chance an entrepreneur takes of losing time and money on a business that may
not prove profitable.
Reward - ANS✅✅The greater the risk, the better the reward...
Entrepreneur - ANS✅✅A person who risks time and money to start and manage a business.
Stakeholders - ANS✅✅All people who stand to gain or lose by the policies and activities of a
business and whose concerns the business needs to address.
Economics - ANS✅✅the study of how society employs resources to produce goods and services for
consumption among various groups and individuals.
Capitalism - ANS✅✅All or most of the land/factories and stores are owned by individuals, not the
government, and operated for profit.
Supply - ANS✅✅Quantities of products businesses are willing to sell at different prices.
Demand - ANS✅✅Quantities of products consumers are willing to buy at different prices.
Exporting - ANS✅✅Selling products to another country.
