Cp1 US Business Environent

Question 0

Difference between business revenues and it’s expenses

Answer 0

Profits

Question 1

Organization that provides goods or services that are sold to earn profits

Answer 1

Business

Question 2

The freedom of consumers to choose how to satisfy their wants and needs “voting with our dollar”

Answer 2

Consumer Choice Demand

Question 3

The power to choose how much money we are allowed to make

Answer 3

Capitalism

Question 4

To stay out of public business

Answer 4

Official Role of Government

Question 5

The Benefits of Business

Answer 5

Provides goods and services
Employ people
Invented services
Increase qualify of life and standard of living

Question 6

Everything outside and organizations boundaries that might affect it

Answer 6

External Environment of Business

Question 7

The environment in which a firm conducts it’s operations and devices it’s revenues

Answer 7

Domestic Business Environment

Question 8

How does a firm conducts it’s operations and devices it revenues

Answer 8

Seeks to be close to its customers
Establishing strong relationships with its suppliers
Distinguishing itself from its competitors

Question 9

The international forces that affect a business (define)

Answer 9

Global Business Environment

Question 10

Greece is controlling the entire European Union and America number one trading is with the European Union

Answer 10

International trade agreements

Question 11

The country Dafur has no resources so we don’t help them because of no profit

Answer 11

International Economic conditions

Question 12

All the ways by which firms create value for their constituents (define)

Answer 12

Technological Environment

Question 13

International forces that’s affects a business (name the two)

Answer 13

Trade agreements and economic conditions

Question 14

All the ways by which firms create value for their constituents (name the 4 ways)

Answer 14

Human knowledge
Work methods
Physical equipment
Electronics an telecommunications

Question 15

The regulatory relationship between business and the government (legal system) and it’s agencies that define what organizations can and can’t do

Answer 15

Political Legal Environment

Question 16

when a cigarette ad has to say you will die

Answer 16

Product identification laws

Question 17

When the government make sure commercials are giving out true info

Answer 17

Advertising practices

Question 18

When government requires business to tell the side effects to a medication

Answer 18

Safety and health considerations

Question 19

Equality to hire any race/gendar

Answer 19

Acceptable standards of business conduct

Question 20

Pro of anti business sentiment in government and political stability is important for _______ firms

Answer 20

International

Question 21

Making sure it’s safe to have commercial

Answer 21

Local Zoning requirements

Question 22

You have to accept customers no matter what their condition is (involving their health)

Answer 22

Affordable Care Act

Question 23

The customs, values, demographic characteristics of the society in which an organization function

Answer 23

Sociocultural Environment

Question 24

The relevant conditions that exist in the economic system in which a company operates

Answer 24

Economic Environment

Question 25

Types of Economic Systems

Answer 25

Planned Economy | Market Economy

Question 26

When the government controls everything

Answer 26

Planned Economy

Question 27

When the government allows business's invent and create combinations of supply and demand

Answer 27

Market Economy

Question 28

What are the planned economy's called

Answer 28

Communism and Socialism

Question 29

When the government provides and controls everything ex. Home, health and care

Answer 29

Communism

Question 30

Government controls some/select parts of the economy

Answer 30

Socialism

Question 31

The process of converting government enterprises into privately owned companies

Answer 31

Privatization

Question 32

Government supports private ownership and encourages entrepreneurship

Answer 32

Capitalism

Question 33

Characteristics of both planned and market economies

Answer 33

Mixed Economy

Question 34

When price goes down, demand goes down

Answer 34

Law and Demand

Question 35

The ability of buyers to purchase a product,good or service

Answer 35

Demand

Question 36

The ability of producers to offer a good/service

Answer 36

Supply

Question 37

a situation in which the quantity demanded will be greater than the quantity supplied

Answer 37

Shortage

Question 38

A situation in which the quantity exceeds/is more then the quantity demand

Answer 38

Surplus

Question 39

Companies have to compete

Answer 39

Degrees of Competition

Question 40

No one company that can control/domint

Answer 40

Perfect Competition

Question 41

An industry with only a few large sellers

Answer 41

Oligopoly

Question 42

Industry that has only one company

Answer 42

Monopoly

Question 43

Total of all goods and services produced by a country

Answer 43

Gross Domestic Product

Question 44

The amount of money that the government owes it's creditors

Answer 44

National Dept

Question 45

People actively looking for a job that doesn't have a job

Answer 45

Unemployment

Question 46

Decline in activity across the economy and fall in GDP

Answer 46

Recession

Question 47

A long/prolonged depression/recession in an economy or market

Answer 47

Depression

Question 48

(CRM) customer relationship management using tags to go on your keys is a example of what

Answer 48

Seeking to be close to customers

Question 49

One company buying many suppliers is exp of

Answer 49

Establishing strong relationships with its suppliers

Question 50

Companies having something different about each other is exp of

Answer 50

Distinguishing itself from competitors

Question 51

Hearing Lady Gaga on a Michael Kores commercial is exp of

Answer 51

Sociocultural Environment

Question 52

Name steps to doing a Skeletal P&L Statement

Answer 52

Sales-cost of goods sold=gross margin | Gross margin- expenses=loss

Question 53

What is the purpose of a skeletal P&L Statement

Answer 53

To figure out how much a company/business lost or gain