Role Of Business In Social And Ecomonic Development

Question 1

What is Business?

Answer 1

A business is an organization or economic system where goods and services are exchange for one another or for money

Question 2

Sole proprietorship

Answer 2

Also known as a soul trader is owned by one person and operates for their benefit

Question 3

Partnership

Answer 3

It is a business owned by two or more people

Question 4

Corporation

Answer 4

The owners of a corporation have limited liability and the businesses separate legal personality from its owners.

Question 5

Cooperative

Answer 5

Often referred to as a coop a cooperative is a limited liability business that can organize for profit or non-profit

Question 6

Service Business

Answer 6

A service type of business provides intangible products(no physical form)

Question 7

Financial Business

Answer 7

Include banks and other companies that generate profits to investment and management of capital

Question 8

Transportation Business

Answer 8

Deliver goods and individuals through destinations for a fee

Question 9

Utilities

Answer 9

Produce public services such as electricity or sewage treatment usually under government

Question 10

Merchandising businesses

Answer 10

This type of business buys products at who sale price and sells the same at retail price

Question 11

Retailers and Distributors

Answer 11

Act as the middle man and get goods produced by manufacturers to the intended customers

Question 12

Manufacturing Business

Answer 12

I like a merchandising business a manufacturing business buys products with the intention of using them as materials in making a new product

Question 13

Agriculture and Mining Business

Answer 13

Produce raw materials such as plants or minerals

Question 14

Manufacturer

Answer 14

Produce products either from raw materials or from component parts essential products at the profit for example cars clothing and or pipes

Question 15

Real-estate business

Answer 15

Cell rent and develop properties including land residential homes and other buildings

Question 16

Fairness

Answer 16

Refers to level of even handedness in dispensing justice for work claims are recognized in the order for the illegal and contractual priority

Question 17

Justice

Answer 17

Means giving each person what he or she deserves or in more traditional terms giving each person his or her due

Question 18

Principles of Justice

Answer 18

Individual should be treated the same unless they different ways that are relevant to the situation in which they are involved

Question 19

Distributive justice

Answer 19

Refers to the extent to which societies institutions ensure that benefits and burdens are distributed among societies members in ways that are fair and just

Question 20

Retributive are corrective justice

Answer 20

Refers to the extent to which punishments are fair and just

Question 21

Compensatory justice

Answer 21

Refers to the extent to which people are fairly compensated for their injuries by those who have injured them

Question 22

Accountability

Answer 22

The obligation of an individual or organization to account for its activities accept responsibility for them and to disclose results in a transparent manner

Question 23

Corporate accountability

Answer 23

Refers to the act of being accountable to the stakeholders of an organization

Question 24

Transparency

Answer 24

Refers to lack of hidden agendas and conditions accompanied by the availability of full information required for collaboration

Question 25

Corporate transparency

Answer 25

Describes the extent to which a corporation’s actions are observable by outsiders

Question 26

Stewardship

Answer 26

Originally made up of the task of a domestic steward stig-weard

Question 27

Business Practice

Answer 27

Is a method procedure process or rule employed or followed by a company in the pursuit of its objectives

Question 28

Decorum

Answer 28

A behavior that is socially correct calm and polite

Question 29

Protocol

Answer 29

The unwritten rules or guidelines that are peculiar to every culture organization in our supposed to be observed for all products in the conduct of business

Question 30

Examples of protocols in the philippine business

Answer 30

Filipino family model businesses
businesses personal
status consciousness
politeness and ambiguity

Question 31

Policies

Answer 31

Defines the scope or spheres within which decisions can be taken by the subordinates in an organization

Question 32

Features of business policy

Answer 32

Specific
Clear
Reliable or uniform
Appropriate
Simple
Inclusive or comprehensive
Flexible
Stable

Question 33

Advertising

Answer 33

How a company encourages people to buy their product services or ideas

Question 34

Marketing

Answer 34

The process of product development as well as sales promotion and distribution

Question 35

Bookkeeping

Answer 35

Accounting simply put escaping track of money

Question 36

Reportorial requirements

Answer 36

Business reporting or enterprise reporting is the public reporting of operating in financial data by a business enterprise

Question 37

Annual report

Answer 37

A comprehensive report on a company’s activities throughout the preceding year

Question 38

Financial Statement

Answer 38

Also known as a financial report it is a formal record of the financial activities and position of the business person or other entity

Question 39

Documentation

Answer 39

Refers to the process and items which serve as evidence for the validity or truth of a certain claim or statement