Summative Exam Flashcards
Where does the supply and demand intersect?
Equilibrium price
Where does the desire of the consumer for a commodity reflect?
Demand
Strength, Weaknesses, Opportunities and Threats are what part of technique?
SWOT
Where does the exchange of goods and services across international borders of territories take place?
International Trade
What part of the business environment analysis technique uses opinion based on outside experts?
Expert Opinion
The unemployed spend less because of _____.
Lower personal income
KPIs means ________.
Key performance indicator
What types of businesses convert raw materials into finished goods?
Manufacturing
Businesses are reliant on ________.
Income
What is a product that is offered for sale at all possible prices in the market?
Supply
Under perfectly inelastic a percentage change in price creates no change in quantity demanded.
True
The price elasticity of supply measures the quantity of goods that buyers are willing to buy
True
Under the Law of Supply, when price goes up, supply goes UP.
True
When income goes up, consumers buy MORE.
True
Elasticity is the responsiveness of demand/supply to a change in its determinants.
True
The price elasticity of supply measures the quantity of goods that buyers are willing to buy.
True
Current Problems of Filipino Entrepreneurs:
Inadequate access to technology
Financing Capital
Marketing Advice
Logistical problem in setting up and maintaining their competitiveness in their community
Tools and Techniques in Making an Efficient Business
Use technology to speed up workflow
Shorter meetings fuel efficiency
Smart office space pays
Small changes, big savings
Manage staff expenses
Keep a firm grip on cash flow
Stay connected on the move
Use time more efficiently
Get the best deal on insurance
Do not be lax with the legaL
Types of Business Competition
Performance Competition
Head to Head Competition
Controlling Supplies
Advertising
Distribution
Predatory Competition
Main Determinants of Investment:
The Expected Return on the Investment
Business Confidence
Changes in National Income
Interest Rate
Effect of High Taxes on Business:
Inadequate Incomes
Low Wages
High Prices
Substandard Products
Product Unavailability and Continuation
Poverty and High Crime
Impact of Suppliers to Business
Quality
Timeliness
Competitiveness
Innovation
Finance
These are the elements that the business or project could exploit to its advantage.
Opportunities
It is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual.
International Trade
The process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.
Retail
Agribusiness is a business that earns most or all its revenue from
Agriculture
GDP means:
Gross Domestic Product
The following are the determinants of spending, which is not?
None of the above
Businesses are reliant on:
Income
A rise in interest rates will stimulate:
Savings
The unemployed spends less because of:
Lower personal income
Distributor of goods and services:
Supplier
