True or False: Merchandising Business is a business that purchases finished products and resells them to consumers

True or False: Human Resources is the division of a business responsible for finding, recruiting, screening, and training job applicants.

True or False: Management is the coordination and organization of business activities.

True or False: Manufacturing is the process of exploring, creating, and delivering value to meet the needs of a target market in terms of goods and services

True or False: Marketing is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests.

True or False: Corporation is a type of enterprise owned and run by one person and in which there is no legal distinction between the owner and the business entity

True or False: Manufacturing is the process of transforming raw materials into finished goods through the use of tools, machines, and labor.

a processes that involve different activities that lead to the extraction of raw materials from the earth (such as oil, metals, mineral and aggregates), processing and utilization by consumers.

an organization or enterprising entity engaged in commercial, industrial, or professional activities

which means its members are not personally liable for the company's debts. _____ are taxed on a "pass-through" basis, all profits and losses are filed through the member's personal tax return

usually a group of people or a company—authorized by the state to act as a single entity and recognized as such in law for certain purposes.

guide businesses and individuals in decisions about expending money to attain profit.

The person who calculates the risks for an insurance company or financial institution

provide specific products or services that meet a need or are otherwise useful to customers.

managing how others see and feel about a person, brand, or company

Special type of corporation allowed by states that is taxed as if it were a sole proprietorship or partnership

Dentists and Accountants are examples of what kind of business?

A business owned and managed by one person.

Business owned and operated by its user-members for the purpose of supplying themselves with goods and services.

Business owned by two or more people.

What % of small businesses fail in 5 years?

Organization that does not pay taxes and does not exist to make a profit

Which is not one of the 4 types of partnerships?

Who governs a corporation?

What is the difference between a privately owned corporation and a publicly owned corporation?

Which of the following is an example of a franchise?

True or False: A Marketing plan is a group of consumers a company aims its products at

True or False: Push Marketing is a company's market position and successful strategies

True or False: a USP is a factor that differentiates a product from competitors

True or False: Pricing and Position Strategy is pricing products based on competitors and positioning

True or False: An example of retention strategy is perception among customers.

True or False: Promotion Strategy includes advertising, personal selling, sales promotions, direct marketing, internet marketing, and public relations

Path a product takes from manufacturer to consumer

Taking products to customers (e.g. negotiating with retailers)

Attracting customers through mass media promotions and sales promotions

Comprehensive plan to advertise a target market

Transforming a person into a paying customer

What does SWOT stand for?

The following statement is an example of which part of the SWOT? "McDonalds brand image is very strong"

The following statement is an example of which part of the SWOT? "McDonalds has the opportunity to grow and expand in developing countries."

The following statement is an example of which part of the SWOT? "McDonalds standardization ensures consistency but also reduces the companies flexibility"

The following statement is an example of which part of the SWOT? "The restaurant industry is highly competitive"

Commodities involves those economic transactions that take place inside the geographical boundaries of a country

Export- a commodity, article, or service brought in from abroad for sale.

Commodities- A port is a maritime facility comprising one or more wharves or loading areas, where ships load and discharge cargo and passengers

Gross National Product- any business that operates across international borders.

Trade- the action of buying and selling goods and services.

Import- a tax or duty to be paid on a particular class of imports or exports.

a commodity, article, or service sold abroad.

an official ban on trade or other commercial activity with a particular country.

goods transported in bulk by truck, train, ship, or aircraft.

Total market value of all goods and services produced in a country in a year.

a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.

The total value added from domestic and foreign sources claimed by residents of a country.

What is leadership?

Which of the following is NOT a leadership characteristic?

How many main styles of leadership were discussed in this topic?

Which leadership style encourages employee participation but can be time-consuming?

Laissez-Faire leadership works well with:

Which of the following is NOT a main type of communication?

What is one way to improve listening skills?

Which is a characteristic of verbal communication?

Which of the following is NOT a verbal channel of communication?

Nonverbal communication involves:

What is an example of nonverbal forms of communication?

According to the information, what do managers spend most of their time doing?

What is a key leadership style where leaders give clear instructions but may bore employees?

Which leadership style leaves decisions to individual employees and gives little direction?

What are some leadership characteristics mentioned?

Which type of communication involves the sender, receiver, message, and feedback?

Which of the following is NOT a main type of communication?

What is a characteristic of laissez-faire leadership?

Which of the following is an example of a verbal channel of communication?

What are the two main categories on a balance sheet?

Which term is used to describe the resources owned by a company that provide future economic benefits?

What are the costs incurred by a company to generate revenue called?