Business & Management: Key Concepts
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which of the following is one of the 5 business environments mentioned in the text?

  • The healthcare environment
  • The economic & legal environment (correct)
  • The transportation environment
  • The customer service environment

    • What is the term used to describe the difference between goods and services?

  • Local vs. Global
  • Tangible vs. Intangible (correct)
  • Traditional vs. Modern
  • Profitable vs. Non-profitable

    • What are the factors of production?

  • Technology, marketing, sales, finance, management
  • Land, labor, capital, entrepreneurship, knowledge (correct)
  • Innovation, creativity, sustainability, diversity, ethics
  • Government, education, healthcare, environment, infrastructure

    • What is the term used to describe matching risk with profit?

    <p>Risk-return tradeoff</p> Signup and view all the answers

    What is the term used to describe the added value that a company offers to its customers?

    <p>Value Proposition</p> Signup and view all the answers

    More Like This

    Key Concepts in Business Management
    18 questions

    Key Concepts in Business Management

    GentleMoonstone avatar
    GentleMoonstone
    Business Risk Concepts Flashcards
    20 questions

    Business Risk Concepts Flashcards

    HandsomeVariable avatar
    HandsomeVariable
    Business, Profits & Risk Overview
    40 questions

    Business, Profits & Risk Overview

    EducatedGreatWallOfChina avatar
    EducatedGreatWallOfChina
    Risk Management Concepts
    32 questions

    Risk Management Concepts

    LyricalAgate8315 avatar
    LyricalAgate8315
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser