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Questions and Answers
Which of the following is one of the 5 business environments mentioned in the text?
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?
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?
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?
What is the term used to describe matching risk with profit?
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What is the term used to describe the added value that a company offers to its customers?
What is the term used to describe the added value that a company offers to its customers?
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