Podcast
Questions and Answers
Which of the following best defines a business?
Which of the following best defines a business?
- An organization that provides goods and services to satisfy customers' needs (correct)
- An organization that seeks a competitive advantage in the market
- An organization that engages in unethical behavior
- An organization that generates revenue through the sale of goods and services
What is the purpose of a company's business model?
What is the purpose of a company's business model?
- To create revenue through the sale of goods and services
- To transform lower-value inputs into higher-value outputs
- To generate profit after expenses (correct)
- To declare how it intends to create rewards
What is the definition of profit?
What is the definition of profit?
- The result of a company's decisions
- The pursuit of rewards without facing risks
- The money a company brings in through the sale of goods and services
- The amount of money left after expenses (correct)
What is a competitive advantage?
What is a competitive advantage?
Which of the following is a characteristic of non-profit organizations?
Which of the following is a characteristic of non-profit organizations?
What are goods producing businesses?
What are goods producing businesses?
What are service businesses?
What are service businesses?
What is moral hazard?
What is moral hazard?
What is revenue?
What is revenue?
What is the purpose of a company's business model?
What is the purpose of a company's business model?
Which of the following is NOT a potential negative impact of a business?
Which of the following is NOT a potential negative impact of a business?
What is the social environment of a business?
What is the social environment of a business?
Which department is responsible for research and development in most companies?
Which department is responsible for research and development in most companies?
What does the economic environment of a business affect?
What does the economic environment of a business affect?
Which environment of a business is shaped by laws and regulations?
Which environment of a business is shaped by laws and regulations?
What are the potential contributions of a business to society?
What are the potential contributions of a business to society?
Which department is responsible for finance and accounting in most companies?
Which department is responsible for finance and accounting in most companies?
What does the technological environment of a business result from?
What does the technological environment of a business result from?
Which environment of a business includes a company's target consumers and competitors?
Which environment of a business includes a company's target consumers and competitors?
What are the potential negative impacts of a business?
What are the potential negative impacts of a business?
