BSM 100 Exam Questions and Answers
(Most Recent Version, Complete Study
Material)
What makes a successful business? - Correct Answers
✅team, marketing, finance, operations
Business - Correct Answers ✅any activity that provides
goods and services to earn profit
What is value? - Correct Answers ✅When the benefits are
greater than the price
Business External Environment - Correct Answers ✅people
you look for information about your business
ex; customers, employees, friends, families
Business Internal Environment - Correct Answers ✅team,
marketing, finance, operations
3 possible roles of entrepreneurship - Correct Answers ✅1.
increase quality of life
2. right a wrong
3. prevent the end of something good
Non-Profit Organizations - Correct Answers ✅- focus on
causes, not profit
- business of doing good
, BSM 100 Exam Questions and Answers
(Most Recent Version, Complete Study
Material)
Why are non-profit organizations important? - Correct
Answers ✅takes care of problems in society so for-profit
business work well
goods - Correct Answers ✅physical products
services - Correct Answers ✅action of helping or doing
work
Entrepreneurs - Correct Answers ✅people who dream, risk
time/money/other resources to start and manage a business
Profit - Correct Answers ✅the financial reward that comes
from starting and running a business earns in sales minus all
expenses.
factors of production - Correct Answers ✅land/natural
resources
Capital
Human resources/labour
Entrepreneurship
Knowledge
(Most Recent Version, Complete Study
Material)
What makes a successful business? - Correct Answers
✅team, marketing, finance, operations
Business - Correct Answers ✅any activity that provides
goods and services to earn profit
What is value? - Correct Answers ✅When the benefits are
greater than the price
Business External Environment - Correct Answers ✅people
you look for information about your business
ex; customers, employees, friends, families
Business Internal Environment - Correct Answers ✅team,
marketing, finance, operations
3 possible roles of entrepreneurship - Correct Answers ✅1.
increase quality of life
2. right a wrong
3. prevent the end of something good
Non-Profit Organizations - Correct Answers ✅- focus on
causes, not profit
- business of doing good
, BSM 100 Exam Questions and Answers
(Most Recent Version, Complete Study
Material)
Why are non-profit organizations important? - Correct
Answers ✅takes care of problems in society so for-profit
business work well
goods - Correct Answers ✅physical products
services - Correct Answers ✅action of helping or doing
work
Entrepreneurs - Correct Answers ✅people who dream, risk
time/money/other resources to start and manage a business
Profit - Correct Answers ✅the financial reward that comes
from starting and running a business earns in sales minus all
expenses.
factors of production - Correct Answers ✅land/natural
resources
Capital
Human resources/labour
Entrepreneurship
Knowledge
