Intro to Business Chap 1-2

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

Business decisions involving how to obtain the necessary funds to be used by the firm are ______ decisions

Finance

Firms can ensure responsibility to customers by

Full financial disclosure

On example of a firms attempt to ensure the proper and equal treatment of all employees is the establishment of a

Grievance procedure

_____ gather information about a firm then provide that information to management for use in decision making

Information Systems

Shareholder activism is most commonly practiced by

Institutional investors

Creditors are

Institutions that provide loans to a business

If a Firm fails to meet it's responsibilities to _____ it may be forced into bankruptcy

It's creditors

business decisions involving the efficient use of employees and other resources (such as machinery) are ______ decisions

Management

Employees responsible for making key business decisions are

Manager

Business decisions regarding which products are created, priced, distributed, and promoted to customers are _____ decisions

Marketing

business decisions that focus on strategies to make the product more appealing to customers and improve the firm's revenues are _______ decisions

Marketing

If a firm is the sole provider of a good or service, it is a(n)

Monopoly

The ____ of a business are typically responsible for creating the business idea

Owners

The stakeholders of a firm include all of the following:

Owners, Creditors, Employees and suppliers

Industries have been deregulated, allowing more firms to enter the industry except

Railroads

Most business owners would agree that the following characteristics motivated them to start their own business except

Risk

The act that prohibits price differences on promotional allowances that reduce competition within an industry is the

Robinson-Patman Act

Unwelcome comments or actions of a sexual nature are examples of

Sexual harassment

An active role by stockholders in influencing a firm's management policies is called

Shareholder Activism

The Act that encourages competition and prevents monopolies is the

Sherman Antitrust Act

The _______ environment includes changes in consumer preferences overtime

Social

The recognition of how a firm's business decisions can affect society is its

Social responsibility

A certificate of ownership of a business is a

Stock

When investors invest in the business, they become

Stockholders

The act that prohibits unfair methods of competition is the

The federal trade commission act

Firms typically do not repay loans with

Their Stock

A firm's ______ is measured by its stock price, which can be negatively affected by unethical business practices

Value

U.S firms that conduct business in foreign countries

are subject to the rules enforced by the local gov't

The expenses associated with transactions between firms have been reduced by:

business-to-business e-commerce

Finance is the means

by which firms obtain and use funds for their business operations

The responsibility of firms towards their customers

can be encouraged by specific groups of consumers

Many firms that need funds borrow from financial institutions or individuals called

creditors

Suppliers do NOT organize, manage, and assume the risks of the business.

do not organize, manage, and assume the risks of the business.

The profit motive is influenced by the government because

governments of free-market economies encourage the profit motive

In recent years pollution laws

have become more stringent

_____ financial institutions that purchase large amounts of stock

institutional investors represent

Entrepreneurship

involves the creation of a business idea and the willingness to accept risk

Profit

is the difference between the revenue and expenses of a business

E-business

is the use of electronic communications to produce or sell products and services

The goal of a firm's management

is to maximize the firm's value, which is in the best interests of the firm's owners

Deregulation results in

lower prices for consumers

A firm must satisfy its customers by

providing the products or services that customers desire at a reasonable price.

An attempt by a firm to maximize social responsibility to the community may

reduce the firm's ability to provide products at a reasonable price to consumers

Demographics

refer to characteristics of a population

The government protects consumers by

regulating the quality of some products that firms produce

Many U.s Firm provide guidelines of behavior to employees through a code of

responsibilities and ethics

The clayton act is NOT intended to

restrict competitions

A nonprofit organization is one that

serves a specific cause

Human resources are

the people who are able to perform work for a business

In recent years, stockholders have been active in

trying to influence a firm's management practices

the purpose of an industry environment assessment is to determine the:

Degree of competition

An Enterprise that provides products or services that customers desire is a(n)

A business

Business responsibilities

A code of _____________ sets guidelines for product quality, as well as guidelines for how employees, customers and owners should be treated

_______ summarize(s) the firm's financial condition for use in making various business decisions

Accounting

Managers rely on _______ to detect the inefficient use of resources

Accounting data

Which of the following terms describes a set of activities intended to increase opportunities for minorities and women

Affirmative Action

Which of the following represents legislation passed to prevent firms from entering into agreements to set prices and avoid competition

Antitrust laws

The act that prohibits mergers between firms that reduce competition within an industry is the

Celler-Kefauver Act

The act that prohibits discrimination due to national origin, race, gender or religion is the

Civil Rights Act of 1964

Tying agreements, binding contracts, and interlocking directorates are prohibited by the

Clayton Act

______ represents the collective consumer demand that businesses satisfy their needs

Consumerism


Kaugnay na mga set ng pag-aaral

Civil War Battles (Key Battles Only) NAQT[?] info with supplemental

View Set

Week 7 Study set Kayden And Aidan

View Set

Supply Chain Ch. 9 Domestic US and Global Logistics

View Set

Unit 2- Humanism, The Renaissance, and The Protestant Reformation Questions

View Set

Fahmy 2017 English - =Christian book - = "Deuteronomy "

View Set