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Study sets matching "business 101"

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Study sets matching "business 101"

78 terms
Business 101
Value
Business
Profit
Loss
the relationship between the price of a good or a service and…
any organization or activity that provides goods and services…
the money that a business earns in sales or revenue, minus th…
when a business incurs expenses that are greater than its rev…
Value
the relationship between the price of a good or a service and…
Business
any organization or activity that provides goods and services…
135 terms
Business 101
Major Branches of Economics
Economics
Macroeconomics
Microeconomics
Economics, Macroeconomics and Microeconomics.
How society employs resources to produce goods and services f…
Concentrates on the operation of a nation's economy as a whole.
Concentrates on the behavior of people and organizations, in…
Major Branches of Economics
Economics, Macroeconomics and Microeconomics.
Economics
How society employs resources to produce goods and services f…
50 terms
Business 101
Which of the following circumstances i…
When developing and maintaining good s…
Efficiency means _______.... producing i…
At Backstreet Books, Inc., the departm…
An increase in the cost of some goods such as escalating gaso…
most often, they must balance the needs of the stakeholders w…
producing items using the least amount of resources
using technology to stay responsive to customer needs
Which of the following circumstances i…
An increase in the cost of some goods such as escalating gaso…
When developing and maintaining good s…
most often, they must balance the needs of the stakeholders w…
26 terms
Business 101
Business Ethic
The contemporary ethical environment
Need Ethic/social responsibility
On the Job Ethical Dilemmas
The standards of conduct and moral values governing actions a…
> High-profile investigations and arrests in headlines... > Vast…
> Anticipate and manage risks... > Identify opportunities to cre…
Business Ethic
The standards of conduct and moral values governing actions a…
The contemporary ethical environment
> High-profile investigations and arrests in headlines... > Vast…
26 terms
Business 101
Business Ethic
The contemporary ethical environment
Need Ethic/social responsibility
On the Job Ethical Dilemmas
The standards of conduct and moral values governing actions a…
> High-profile investigations and arrests in headlines... > Vast…
> Anticipate and manage risks... > Identify opportunities to cre…
Business Ethic
The standards of conduct and moral values governing actions a…
The contemporary ethical environment
> High-profile investigations and arrests in headlines... > Vast…
35 terms
Business 101
Corporate Social Responsibility (CSR)
Minimalist
Cynical
Defensive
- Is the idea that business has obligations to society beyond…
The company earns money and obeys the law does not do anythin…
The company uses CSR as a marketing tactic to distract attent…
The company only engages in CSR to recover from a shameful ev…
Corporate Social Responsibility (CSR)
- Is the idea that business has obligations to society beyond…
Minimalist
The company earns money and obeys the law does not do anythin…
10 terms
Business101
The body of knowledge that relates to…
The ability of a good or a service to…
An organized way for a country to deci…
Jax lives in a country where only indi…
Economics
Utility
Economic systems
Market economy
The body of knowledge that relates to…
Economics
The ability of a good or a service to…
Utility
63 terms
business 101
Statutory law
common law
administrative law
Independent regulatory agencies
Law passed by the U.S. Congress or state legislatures
the part of English law that is derived from custom and judic…
The body of law created by administrative agencies (in the fo…
An independent regulatory agency is separate from the other b…
Statutory law
Law passed by the U.S. Congress or state legislatures
common law
the part of English law that is derived from custom and judic…
Business 101
Business
Goods
Sevices
Revenue
catchall term that refers to both for-profit and nonprofit or…
known as tangible products such as tomatoes iphones etc.
known as intangible products; cannot be held in your hand
earned by selling its goods and services
Business
catchall term that refers to both for-profit and nonprofit or…
Goods
known as tangible products such as tomatoes iphones etc.
30 terms
Business 101
Business
Entrepreneur
Rio
Revenue, profit,
Any activity that seek to provides good and serveces to other…
Person who risk time and money to start and mange a business.
Return on investment money gained from taking a business risk.
Money business earns above what it pays out for expenses.
Business
Any activity that seek to provides good and serveces to other…
Entrepreneur
Person who risk time and money to start and mange a business.
20 terms
Business 101
Rule of 72
ROI
Bond
Stock
Indicates how quickly your money doubles per the ROI
Return On Investment
A debt owed by the issuer to the holder
Ownership of the issuer by the holder
Rule of 72
Indicates how quickly your money doubles per the ROI
ROI
Return On Investment
129 terms
Business 101
Ethical Lens Inventory - what was the…
What are the lenses and their core val…
CHAPTER 4
Business ethics
Ethical self-awareness - to be aware of what motivates us in…
♣ Rights/responsibilities - rational (head) and autonomous (i…
Ethics and Ethical Reasoning
Applying general ethical ideas to business behavior and decis…
Ethical Lens Inventory - what was the…
Ethical self-awareness - to be aware of what motivates us in…
What are the lenses and their core val…
♣ Rights/responsibilities - rational (head) and autonomous (i…
15 terms
Business 101
Compensation
Salary and wages
Benefit
Time wages
the amount of money paid to an employee for work performed
direct payment to an employee for work completed.
Compensation in forms other than other direct payment for work
pays the employee a specific amount of money for each hour wo…
Compensation
the amount of money paid to an employee for work performed
Salary and wages
direct payment to an employee for work completed.
100 terms
Business 101
1. Computers that are manufactured in…
During the past decade, the value of U…
AusterTech, a U.S. company, produces c…
Los Angeles-based PMI Telecom purchase…
Exports
More Than Doubled
Exporting
Importing
1. Computers that are manufactured in…
Exports
During the past decade, the value of U…
More Than Doubled
50 terms
Business 101
Which of the following circumstances i…
When developing and maintaining good s…
Efficiency means _______.... producing i…
At Backstreet Books, Inc., the departm…
An increase in the cost of some goods such as escalating gaso…
most often, they must balance the needs of the stakeholders w…
producing items using the least amount of resources
using technology to stay responsive to customer needs
Which of the following circumstances i…
An increase in the cost of some goods such as escalating gaso…
When developing and maintaining good s…
most often, they must balance the needs of the stakeholders w…
64 terms
Business 101
Goods
Services
Business
Entrepreneur
Tangible products
Intangible products
Any activity that seeks to provide goods or services while op…
A person who risks time and money to start and manage a busin…
Goods
Tangible products
Services
Intangible products
39 terms
Business 101
Assets
Liabilities
Owners equity
accounting equation
A firms economic resources, or items of values that it owns s…
debts that a firms owes to others
all of the money that has ever been contributed to the compan…
assets equal liabilities plus owners equity
Assets
A firms economic resources, or items of values that it owns s…
Liabilities
debts that a firms owes to others
17 terms
Business 101
Business
Goods
Services
Entrepreneur
Any organization that seeks to make a profit.
Tangible things that are sold.
Intangible things that are sold.
A person who starts a business. They risk time and money to s…
Business
Any organization that seeks to make a profit.
Goods
Tangible things that are sold.
457 terms
Business 101
economy
economics
macroeconomics
microeconomics
a financial and social system of how resources flow through s…
the study of the choices that people, companies, and governme…
the study of a country's overall economic dynamics, such as t…
the study of smaller economic units such as individual consum…
economy
a financial and social system of how resources flow through s…
economics
the study of the choices that people, companies, and governme…
Business 101
Outsourcing
The threat of terrorism
Agrarian economy
Manufacturing industry
Contracting with other countries, to do some of the firms fun…
Costly to most firms because it is costly to the governments…
Based on farming and live stalk
Business that produce and sell tangible products such as stee…
Outsourcing
Contracting with other countries, to do some of the firms fun…
The threat of terrorism
Costly to most firms because it is costly to the governments…
26 terms
Business 101
Free Enterprise
Business
3 needs for a successful business
Service businesses
System of business in which individuals are free to decide wh…
The organized effort of individuals to produce and sell, for…
• stay organized... • satisfy needs... • earn a profit
Produce services such as haircuts, legal advice, tax preparat…
Free Enterprise
System of business in which individuals are free to decide wh…
Business
The organized effort of individuals to produce and sell, for…
101 terms
business 101
business
products
tangible goods
services
individuals or organizations trying to earn a profit by provi…
goods and services with tangible and intangible characteristi…
automobile, computer, phone, coat
dry cleaning, doctor's checkup, basketball game, concerts
business
individuals or organizations trying to earn a profit by provi…
products
goods and services with tangible and intangible characteristi…
10 terms
Business 101
loss
profit
manufacture
market
NOUN: when a business has more expenses than revenue
NOUN: the amount of money left after all the costs of running…
VERB: to make or produce by hand or machine
NOUN: a demand for something that is for sale
loss
NOUN: when a business has more expenses than revenue
profit
NOUN: the amount of money left after all the costs of running…
14 terms
Business 101
Sole Proprietorships
Unlimited Liability
Partnerships
Corporations
A business owned by one person.
The owner is responsible for the company's debt.
A business owned by two or more people who share its risks an…
A company that is registered by a state and operates apart fr…
Sole Proprietorships
A business owned by one person.
Unlimited Liability
The owner is responsible for the company's debt.
14 terms
Business 101
Private enterprise system
Capitalism
Competitive differentiate
Offshoring
Economic system that rewards firms for their ability to ident…
Economic system that rewards firms for their ability to perce…
Unique combination of organization abilities products and app…
Relocation of business process to lower cost locations oversees
Private enterprise system
Economic system that rewards firms for their ability to ident…
Capitalism
Economic system that rewards firms for their ability to perce…
34 terms
Business 101
Distribution channel
Middleman
Merchant middleman
Functional middleman
A sequence of marketing org that directs a product from the p…
A marketing org that links a producer and user within a marke…
A middleman that actually takes tittle to produce by buying t…
A middleman that helps in the transfer of ownership of produc…
Distribution channel
A sequence of marketing org that directs a product from the p…
Middleman
A marketing org that links a producer and user within a marke…
68 terms
Business 101
Fact
Concept
Framework
Process
a piece of information or illustration of a concept
an idea which is relevant to a discipline and useful for orga…
a technique for organizing different pieces of information in…
a way in which things are done
Fact
a piece of information or illustration of a concept
Concept
an idea which is relevant to a discipline and useful for orga…
91 terms
Business 101
Business
Goods
Services
Essential goods and services
Organization that produces or sells goods and services to sat…
Items that can be touched and seen (tangible).
Assistance provided in return for the payment that does not r…
Things that we need for survival
Business
Organization that produces or sells goods and services to sat…
Goods
Items that can be touched and seen (tangible).
58 terms
Business 101
business
goods
services
entrepreneur
any activity that seeks to provide goods and services to othe…
tangible products such as computers food clothings cars and a…
intangible products such as education health care insurance r…
a person who risks time and money to start and manage a busin…
business
any activity that seeks to provide goods and services to othe…
goods
tangible products such as computers food clothings cars and a…
59 terms
Business 101
Business
Profit
Tangible
Intangible
individuals or organizations who try to earn a profit by prov…
the difference between what it costs to make and sell a produ…
something you can hold
something you can't touch
Business
individuals or organizations who try to earn a profit by prov…
Profit
the difference between what it costs to make and sell a produ…
83 terms
Business 101
Financing your business
Planning and Finance
Accounts receivable:
Sell Stock
• Financing- where do you get your money?... Funds to start and…
• Operations and growth... The money you receive, less then what…
• The number of days before payment is due - if its zero days…
Dilute ownership... • Share your ownership of the company with m…
Financing your business
• Financing- where do you get your money?... Funds to start and…
Planning and Finance
• Operations and growth... The money you receive, less then what…
35 terms
Business 101
Economics
private enterprise system(capitalist)
Demand
Supply
study of distributing resources for the production of goods a…
individual citizens own and operate the majority of businesse…
quantity of goods and services that consumers are willing to…
quantity of goods and services that businesses are willing to…
Economics
study of distributing resources for the production of goods a…
private enterprise system(capitalist)
individual citizens own and operate the majority of businesse…
24 terms
Business 101
E-commerce
Stakeholders
Risk
Loss
The buying and selling of goods online
Stock in a company gain or loss by the company of the business
The chance an entrepreneur takes of losing time and money on…
When expenses are more than its revenue
E-commerce
The buying and selling of goods online
Stakeholders
Stock in a company gain or loss by the company of the business
55 terms
business 101
marketing
income statement
operating income
product life cycle
process of exchange when the customer seeks to maximize utili…
sales, cost of goods sold, SGA, revenues and losses
profit-SGA-taxes - interest=income after
intro, growth, maturity, decline
marketing
process of exchange when the customer seeks to maximize utili…
income statement
sales, cost of goods sold, SGA, revenues and losses
35 terms
Business 101
business
society
general systems theory
(ownership) theory of the firm
any organization that is engaged in making a product or provi…
human beings and the social structures they collectively create
all organisms are open to and interact with their social envi…
the firm is seen as the property of its owners... purpose of the…
business
any organization that is engaged in making a product or provi…
society
human beings and the social structures they collectively create
135 terms
Business 101
Marketing
Utility
Marketing Concept
Customer-Relationship Management (CRM)
An organizational functions and a set of processes for creati…
The ability of goods and services to satisfy consumer "wants."
A business philosophy that makes customer satisfaction--now a…
The ongoing process of acquiring maintaining, and growing pro…
Marketing
An organizational functions and a set of processes for creati…
Utility
The ability of goods and services to satisfy consumer "wants."
44 terms
Business 101
Intrinsic Rewards
Extrinsic
Fredrick Taylor
Frank and Lilian Gilbert
The personal satisfaction you feel when you perform well in c…
Something given to you by someone else as recognition for goo…
The father of scientific management create a scientific movem…
Developed the principle of motion economy showing how every j…
Intrinsic Rewards
The personal satisfaction you feel when you perform well in c…
Extrinsic
Something given to you by someone else as recognition for goo…
18 terms
Business 101 - Chapter 2
public issue
performance-expectations gap
environmental analysis
environmental intelligence
Any issue that is of mutual concern to an organization and on…
The perceived distance between what a firm wants to do or is…
A method managers use to gather information about external is…
The acquisition of information gained from analyzing the mult…
public issue
Any issue that is of mutual concern to an organization and on…
performance-expectations gap
The perceived distance between what a firm wants to do or is…
80 terms
Business 101
Macroeconomics
E-Commerce
Demand
Absolute Average
Operation of a nations economy as a whole ( China )
Buying and selling of goods over the internet
Quantity of products that people are willing to purchase at c…
Monopoly on producing a specific product more efficiently tha…
Macroeconomics
Operation of a nations economy as a whole ( China )
E-Commerce
Buying and selling of goods over the internet
50 terms
Business 101
Which of the following circumstances i…
When developing and maintaining good s…
Efficiency means _______.... producing i…
At Backstreet Books, Inc., the departm…
An increase in the cost of some goods such as escalating gaso…
most often, they must balance the needs of the stakeholders w…
producing items using the least amount of resources
using technology to stay responsive to customer needs
Which of the following circumstances i…
An increase in the cost of some goods such as escalating gaso…
When developing and maintaining good s…
most often, they must balance the needs of the stakeholders w…
13 terms
business 101
Economies of scale
Diseconomies of scale
External growth
Merger
the reduction of production costs that is a result of making…
a situation in which the cost of producing a product or provi…
the increase in a company's sales and profits that is a resul…
the combining of two or more companies or organizations into…
Economies of scale
the reduction of production costs that is a result of making…
Diseconomies of scale
a situation in which the cost of producing a product or provi…
52 terms
BUSI 101
Investor's Return
Luca Pacioli
Financial & Managerial
Income Statement
((End of year price-Beg. of year price)+Annual Dividend)/ Beg…
Father of accounting
"External" & "Internal"
Net Income=Revenue-Expense
Investor's Return
((End of year price-Beg. of year price)+Annual Dividend)/ Beg…
Luca Pacioli
Father of accounting
21 terms
business 101
business
goods
services
entrepreneur
any activity that seeks to provide goods and services to othe…
tangible products such as computers, food, cars
intangible products such as health care and insurance
a person who risks time and money to start and manage a busin…
business
any activity that seeks to provide goods and services to othe…
goods
tangible products such as computers, food, cars
51 terms
Business 101
What are the 6 principle of Business
Economics
Fundamental economic problem
Economic system
Economics, management, accounting, marketing, finance, ethics
The social science that describes the production, distributio…
scarcity-limited resources-choices/decisions What to produce,…
the way or means by which we combat scarcity
What are the 6 principle of Business
Economics, management, accounting, marketing, finance, ethics
Economics
The social science that describes the production, distributio…
60 terms
Business 101
free enterprise system
rights of the free enterprise system
Adam Smith
factors of production
THEORETICALLY no government regulation of business. Business…
1. right to choice... 2. right to property... 3. right to know the…
from Scotland. was part of a communist government wrote the W…
-money... -land (facilities)... -labor (workers)... -raw materials... -en…
free enterprise system
THEORETICALLY no government regulation of business. Business…
rights of the free enterprise system
1. right to choice... 2. right to property... 3. right to know the…
65 terms
Business 101
Free Enterprise
Standard Living
Quality of life
Consumers
The free market economy where business is constantly being ch…
The relative cost of goods and services consumers are able to…
Refers to general well being of society
Determine what is produced, marketed, and consumed
Free Enterprise
The free market economy where business is constantly being ch…
Standard Living
The relative cost of goods and services consumers are able to…
37 terms
Business 101
Profit
Revenue
Loss
Risk
Amount of money a business earns after salaries and expenses
Total amount of money a business takes in during a period of…
When a business's expenses are more than its revenues
The chance an entrepreneur takes of losing time and money on…
Profit
Amount of money a business earns after salaries and expenses
Revenue
Total amount of money a business takes in during a period of…
26 terms
Business 101
Absolute Advantage
Trade protectionism
Comparative Advantage
Licensing
the advantage that exist when a country can produce a product…
when a home country passes laws to help produce domestic mark…
when a country can produce goods more effectively AT A BETTER…
A company allows another foreign company permission to manufa…
Absolute Advantage
the advantage that exist when a country can produce a product…
Trade protectionism
when a home country passes laws to help produce domestic mark…
120 terms
Business 101
Budjet Deficit
Business
Capital
Capitalism (free enterprise)
the condition in which the nation spends more than it takes i…
individuals or organizations who try to earn a profit by prov…
the funds used to acquire the natural human resources needed…
an economic system in which individuals own and operate the m…
Budjet Deficit
the condition in which the nation spends more than it takes i…
Business
individuals or organizations who try to earn a profit by prov…
19 terms
Business 101
Book Value
EPS
Dividend
ROA
What is the velue if the "claim" of one share of Andrew' stoc…
How much profit did Andrews make for every share?
How much profit did Andrews dispurse to stock owners?
Andrews profit was ____% of the value of it's assets
Book Value
What is the velue if the "claim" of one share of Andrew' stoc…
EPS
How much profit did Andrews make for every share?
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