Question 1

16 such external factors as the economy, government, and other forces external to the business.

Accepted Answer

Businesses are influenced by

Question 2

14 Product, Price, Place, Promotion

Accepted Answer

What are the four P's of Marketing?

Question 3

13 management, operations, marketing, accounting, and finance.

Accepted Answer

The activities needed to operate a business can be divided into a number of functional areas. Examples include:

Question 4

12 Management, Operations, Marketing, Accounting, Finance, Information Technology, Human Resources

Accepted Answer

According to the text, which of the following is a valid list of functional areas of a business?

Question 5

11 involves planning for, obtaining, and managing a company's funds.

Accepted Answer

Finance

Question 6

10 false

Accepted Answer

Marketing consists of everything that a company does to identify customers' needs (i.e. market research) but does not design products to meet those needs.

Question 7

9 wealth

Accepted Answer

A business is any activity that provides products or services to consumers for the purpose of increasing __________ for the owners.

Question 8

9 measures, summarizes, and communicates

Accepted Answer

Accounting __________ financial and managerial information.

Question 9

9 investor

Accepted Answer

A business participant is not

Question 10

9 true

Accepted Answer

The business functions correspond fairly closely to many majors found within a typical college of business.

Question 11

9 labor, materials, money, and information

Accepted Answer

All companies must convert resources into goods or services. Resources are:

Question 12

8 designs and oversees

Accepted Answer

Operations __________ the transformation of resources into quality goods or services.

Question 13

7 Marketing

Accepted Answer

__________ consists of everything that a company does to identify customers' needs and design products to meet those needs.

Question 14

7 Cash Flow

Accepted Answer

Which of the following is not an external force that influences business activities?

Question 15

7 essentially the big picture world outside over which the business exerts very little if any control.

Accepted Answer

macro environment" -

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