Business Management Final Exam Study Guide 100% Solved Correctly 2024

Business Management Final Exam Study Guide 100% Solved Correctly 2024 The business activity that is involved with how goods or services are exchanged between producers and consumers is - answermarketing Which is an example of a service business? - answerBank Which industry employs the most workers in the United States? - answerHealth care and social assistance An important characteristic of business is that it is - answerDynamic(experiencing constant change) Which of the following refers to a commitment to excellence? - answerTQM Which of the following is NOT a result of mass production? - answerHigher costs of goods manufactured Which of the following is NOT a way to increase efficiency? - answerIncreased employee wages What effect does advanced technology usually have on the cost of each item produced by a business? - answerCost decreases How does the GDP of $12.4 trillion appear when written out? - answer$12,400,000,000,000 In the typical franchise business, the franchisee does NOT receive - answerGuaranteed profit Which of the following best describes risk? - answerPossibility of failure Approximately what percentage of all businesses cease operations after five years? - answer50% A business that make athletic shoes is an example of a - answerGoods-producing business A word often used to refer to all businesses within a category doing similar work is - answerIndustry Products made outside the United States are called - answerForeign goods