BUS 100 Final Exam with Verified
Answers
What 4 resources must a business combine to be successful - ✔✔Human, Material,
informational, and financial resources
Manufacturing - ✔✔Goods
Classification of Business - ✔✔Manufacturer, Marketing Intermediary, And Consumer
Profit - ✔✔What remains after all business expenses have been deducted sales revenue.
Sales revenue - ✔✔-Expenses
———————
= Profit (loss)
Sales Revenue is - ✔✔Top line
Expenses is - ✔✔Bottom line
Stakeholders - ✔✔anyone affected by the policies and decisions made by an organization.
Economics - ✔✔The study of how wealth is created and distributed
Microeconomics - ✔✔the study of the decisions made by individuals and businesses
, Macroeconomics - ✔✔The study of the national and global economics
Types of economic systems - ✔✔Capitalism = Individuals, Socialism = Government ,
Communism = Government
Gross Domestic Product (GDP) - ✔✔The total value of all good and services produce by all
people within the boundaries of a country during a one year period.
Consumer Price Index (CPI) - ✔✔A monthly index that measures the changes in prices of a fixed
basket of goods purchased by a typical consumer in an urban area.
Produce Price Index (PPI) - ✔✔An index that measures prices that producers receive for their
finished goods.
Balance of trade - ✔✔exports - imports
Inflation - ✔✔Price in the price level (Prices go up )
Monetary Policies - ✔✔The federal reserves decisions that determine the size of the supply of
money in the nation and the level of interest rates.
Fiscal Prices - ✔✔Governmental decisions aimed at affecting the level of spending *
Accomplishing primarily through government spending and tax rates.
Perfect competition - ✔✔Market structure with many buyers and sellers. Ex: corn, wheat,
peanuts, many agricultural products
monopolistic competition - ✔✔Many suppliers, Ex: Clothes, shoes
Answers
What 4 resources must a business combine to be successful - ✔✔Human, Material,
informational, and financial resources
Manufacturing - ✔✔Goods
Classification of Business - ✔✔Manufacturer, Marketing Intermediary, And Consumer
Profit - ✔✔What remains after all business expenses have been deducted sales revenue.
Sales revenue - ✔✔-Expenses
———————
= Profit (loss)
Sales Revenue is - ✔✔Top line
Expenses is - ✔✔Bottom line
Stakeholders - ✔✔anyone affected by the policies and decisions made by an organization.
Economics - ✔✔The study of how wealth is created and distributed
Microeconomics - ✔✔the study of the decisions made by individuals and businesses
, Macroeconomics - ✔✔The study of the national and global economics
Types of economic systems - ✔✔Capitalism = Individuals, Socialism = Government ,
Communism = Government
Gross Domestic Product (GDP) - ✔✔The total value of all good and services produce by all
people within the boundaries of a country during a one year period.
Consumer Price Index (CPI) - ✔✔A monthly index that measures the changes in prices of a fixed
basket of goods purchased by a typical consumer in an urban area.
Produce Price Index (PPI) - ✔✔An index that measures prices that producers receive for their
finished goods.
Balance of trade - ✔✔exports - imports
Inflation - ✔✔Price in the price level (Prices go up )
Monetary Policies - ✔✔The federal reserves decisions that determine the size of the supply of
money in the nation and the level of interest rates.
Fiscal Prices - ✔✔Governmental decisions aimed at affecting the level of spending *
Accomplishing primarily through government spending and tax rates.
Perfect competition - ✔✔Market structure with many buyers and sellers. Ex: corn, wheat,
peanuts, many agricultural products
monopolistic competition - ✔✔Many suppliers, Ex: Clothes, shoes
