Business Revenue Generation Quiz
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Questions and Answers

Which of the following best defines a business model?

  • The system for satisfying customers by transforming inputs into outputs
  • The outline of how a business intends to generate revenue (correct)
  • The amount of money left after expenses
  • The money a company brings in through the sale of goods and services
  • What is the term used to describe the money a company brings in through the sale of goods and services?

  • Profit
  • Competitive advantage
  • Revenue (correct)
  • Moral hazard
  • Which type of organization does not have profit purposes?

  • Goods producing businesses
  • Service businesses
  • Non-profit organization (correct)
  • For-profit companies
  • Which of the following is an example of a potential negative impact of a business?

    <p>Generating pollution and creating waste (B)</p> Signup and view all the answers

    Which environment is shaped by laws and regulations at various levels?

    <p>Legal environment (C)</p> Signup and view all the answers

    Which department is responsible for research and development in most companies?

    <p>R&amp;D (Research and development) (C)</p> Signup and view all the answers

    Which of the following best defines a business model?

    <p>The stated outline of how the business intends to generate revenue (B)</p> Signup and view all the answers

    What is the term used to describe the money a company brings in through the sale of goods and services?

    <p>Revenue (B)</p> Signup and view all the answers

    Which of the following is an example of a potential negative impact of a business?

    <p>Engaging in unethical behavior (A)</p> Signup and view all the answers

    Which department is responsible for research and development in most companies?

    <p>Research and Development (A)</p> Signup and view all the answers

    Which environment is shaped by laws and regulations at various levels?

    <p>External environment (B)</p> Signup and view all the answers

    Which type of organization does not have profit purposes?

    <p>Non-profit organization (D)</p> Signup and view all the answers

    What is the term used to describe the amount of money left after expenses?

    <p>Profit (C)</p> Signup and view all the answers

    Which of the following best describes a competitive advantage?

    <p>Making products more appealing to target customers (B)</p> Signup and view all the answers

    Which type of businesses creates value by making things?

    <p>Goods producing businesses (A)</p> Signup and view all the answers

    Which type of businesses creates value by performing activities that deliver some benefit to the customer?

    <p>Service businesses (D)</p> Signup and view all the answers

    Which of the following is NOT a potential negative impact of a business?

    <p>Contributing to national growth, stability and security (A)</p> Signup and view all the answers

    Which environment is influenced by trends and forces of society at large?

    <p>Social environment (C)</p> Signup and view all the answers

    Which department is responsible for manufacturing, production, and operations in most companies?

    <p>Marketing, sales, distribution, and customer support (A)</p> Signup and view all the answers

    Which environment is influenced by the cost and availability of goods, services, and labor?

    <p>Economic environment (C)</p> Signup and view all the answers

    Which environment is shaped by laws and regulations at various levels?

    <p>Legal environment (A)</p> Signup and view all the answers

    Which department is responsible for research and development in most companies?

    <p>R&amp;D (Research and development) (A)</p> Signup and view all the answers

    Which of the following is NOT an area of a company?

    <p>Business services (D)</p> Signup and view all the answers

    Which of the following is influenced by the practical application of science to innovations and products?

    <p>Technological environment (D)</p> Signup and view all the answers

    Which of the following describes any resource or capability a company must have before it can start competing in the market?

    <p>Barrier of entry (A)</p> Signup and view all the answers

    Which of the following is NOT a way in which a business can contribute to society?

    <p>Generating pollution and creating waste (A)</p> Signup and view all the answers

    Flashcards

    What is a business model?

    The plan a company uses to make money.

    What is revenue?

    The money a company earns from selling goods or services.

    What is a non-profit organization?

    Organizations that focus on helping others and don't aim to make a profit.

    What are potential negative impacts of a business?

    The negative effects a business might have on the environment or society.

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    What is the legal environment?

    The laws and regulations that affect how businesses operate.

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    What is Research and Development (R&D)?

    The department that focuses on creating new products and technologies.

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    What is the external environment?

    The overall forces that influence a business from outside, like the economy, technology, and the environment.

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    What is profit?

    The money a company has left over after paying all its expenses.

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    What is a competitive advantage?

    Something that makes a company's products or services more appealing to customers than its competitors.

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    What are goods-producing businesses?

    Businesses that create value by making physical products, like cars or clothes.

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    What are service businesses?

    Businesses that provide services rather than physical products, like hair salons or consulting firms.

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    What is a barrier to entry?

    The challenges a new company faces when trying to enter a market.

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    How can businesses contribute to society?

    How businesses contribute to society, such as creating jobs, paying taxes, and innovating.

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    What is the social environment?

    The impact of social trends and attitudes on businesses.

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    What is the marketing, sales, distribution, and customer support department?

    The department responsible for marketing, selling, and distributing products, and providing customer service.

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    What is the economic environment?

    The impact of economic forces, like interest rates and inflation, on businesses.

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    What is the technological environment?

    The impact of technological advancements on businesses.

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    What are the different areas of a company?

    The different departments or areas within a company, like marketing, sales, and finance.

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