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17 Cards in this Set

  • Front
  • Back
T/F
The production process of getting goods to consumers usually requires only one business.
True
T/F
Marketers bring goods from producers to consumers.
True
T/F
A partnership is owned by two or more people who own shares of stock in the company.
False
T/F
The person or group who receives a franchise is called the franchisee.
True
T/F
Managers have to plan, control, lead, staff, and organize.
True
T/F
Building a specific, unique product for one customer is called processing.
False
T/F
Goals must be set in order to perform the management activity of controlling.
True
T/F
All businesses must raise capital, use human resources, and keep records.
True
A business that moves goods from producer to consumer is a _____________.
marketer
List 3 examples of manufacturing.
custom, mass production, processing
People who become part owners of a corporation are called ___________.
shareholders
Assigning jobs to workers and giving authority to certain people is a managing activity called _______________.
organizing
The part of the profits that are paid to shareholders is called _________________.
a dividend
The quantity producers are able to produce at a given price is called ____________.
supply
Productivity is affected by ___________________.
technology and worker training
Directing people so that their work is performed correctly and on time is called _______________.
leading
A ____________ is a group that is responsible for guiding the operation of a corporation.
board of directors