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INTRODUCTION TO BUSINESS - FINAL
REVIEW QUESTIONS WITH DETAILED
VERIFIED ANSWERS
Product Placement Ans: Promotional tactic for brand exposure in which
characters in television, film, music, magazines or video games use a real
product with its brand visible to viewers.
Variable Cost Ans: Cost that changes with the quantity of a product
produced and sold
fixed costs Ans: cost that is incurred regardless of the quantity of a
product produced and sold.
markup Ans: the amount added to an items purchase cost to sell it at a
profit
secured loan Ans: loan to fianace an asset, backed by the borrower
pledging the asset as collateral to the lender
unsecured loan Ans: loan for which collateral is not required
SWOT analysis Ans: Identification and analysis of organizational
strengths, weaknesses, environmental opportunities, and threats as part
of strategy formulation.
Benefits Ans: Compensation other than wages and salaries
Performance Appraisal Ans: evaluation of an employee's job
performance to determine the degree to which the employee is
performing effectively.
Distribution Mix Ans: Combination of distribution channels by which a
firm gets its products to end users.
supply Ans: the willingness and ability of producers to offer a good or
service for sale
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Ethics Ans: beliefs about what is right and wrong or good and bad in
actions that affect others
Performance Behaviors Ans: the total set of work-related behaviors that
the organization expects employees to display
Social Responsibility Ans: the attempt of a business to balance its
commitments to groups and individuals in its environment, including
customers, other businesses, employees, investors, and local
communities
Arbitration Ans: method of resolving a labor dispute in which both
parties agree to submit to the judgment of a neutral party
E-commerce (electronic commerce) Ans: use of the internet and other
electronic mean for retailing and business-to-business transactions
Personality Ans: the relatively stable set of psychological attributes that
distinguish one person from another
Information System Manager Ans: managers who are responsible for the
systems used for gathering, organizing, and distributing information
Stock Ans: Portion of ownership of a corporation
dividend Ans: payment to shareholders, on a per-share basis, out of the
company's earnings
Data Mining Ans: the application of electronic technologies for searching,
sifting, and reorganizing pools of data to uncover useful information.
Target Market Ans: the particular group of people or organizations to
which a firm's marketing efforts are focused
demand Ans: the willingness and ability of buyers to purchase a good or
service
Leadership Ans: the processes and behaviors used by someone such as
a manager to motivate, inspire. and influence the behaviors of others
INTRODUCTION TO BUSINESS - FINAL
REVIEW QUESTIONS WITH DETAILED
VERIFIED ANSWERS
Product Placement Ans: Promotional tactic for brand exposure in which
characters in television, film, music, magazines or video games use a real
product with its brand visible to viewers.
Variable Cost Ans: Cost that changes with the quantity of a product
produced and sold
fixed costs Ans: cost that is incurred regardless of the quantity of a
product produced and sold.
markup Ans: the amount added to an items purchase cost to sell it at a
profit
secured loan Ans: loan to fianace an asset, backed by the borrower
pledging the asset as collateral to the lender
unsecured loan Ans: loan for which collateral is not required
SWOT analysis Ans: Identification and analysis of organizational
strengths, weaknesses, environmental opportunities, and threats as part
of strategy formulation.
Benefits Ans: Compensation other than wages and salaries
Performance Appraisal Ans: evaluation of an employee's job
performance to determine the degree to which the employee is
performing effectively.
Distribution Mix Ans: Combination of distribution channels by which a
firm gets its products to end users.
supply Ans: the willingness and ability of producers to offer a good or
service for sale
, Page | 2
Ethics Ans: beliefs about what is right and wrong or good and bad in
actions that affect others
Performance Behaviors Ans: the total set of work-related behaviors that
the organization expects employees to display
Social Responsibility Ans: the attempt of a business to balance its
commitments to groups and individuals in its environment, including
customers, other businesses, employees, investors, and local
communities
Arbitration Ans: method of resolving a labor dispute in which both
parties agree to submit to the judgment of a neutral party
E-commerce (electronic commerce) Ans: use of the internet and other
electronic mean for retailing and business-to-business transactions
Personality Ans: the relatively stable set of psychological attributes that
distinguish one person from another
Information System Manager Ans: managers who are responsible for the
systems used for gathering, organizing, and distributing information
Stock Ans: Portion of ownership of a corporation
dividend Ans: payment to shareholders, on a per-share basis, out of the
company's earnings
Data Mining Ans: the application of electronic technologies for searching,
sifting, and reorganizing pools of data to uncover useful information.
Target Market Ans: the particular group of people or organizations to
which a firm's marketing efforts are focused
demand Ans: the willingness and ability of buyers to purchase a good or
service
Leadership Ans: the processes and behaviors used by someone such as
a manager to motivate, inspire. and influence the behaviors of others
