Intro To Business Chapter 1

Front 1

1. The resources businesses use to create wealth are called_______________. and include land, labor, capital, entrepreneurship and knowledge.

Back 1

Factors of Product

Front 2

2. Buying and selling products and services over the Internet is known as______________

Back 2

E-commerce

Front 3

3________________refers to the general well-being of a society in terms of freedom, a clean natural environment, education, health care, safe{r, free time, and everything else that leads to satisfaction and joy.

Back 3

Quality of Life

Front 4

4 An ____________________ is the person who risks time and money to start and manage a business.

Back 4

Entrepreneur

Front 5

5 Products that are intangible, such as education, heath care, insurance, recreation and travel and tourism are known as___________-

Back 5

Services

Front 6

6 A__________is any activity which seeks to provide goods and services to others while operating at a profit.

Back 6

business

Front 7

7.When a business's expenses are more than its revenues a ___________ has occurred.

Back 7

loss

Front 8

8.Entrepreneurs take a_________when they take the chance that they will lose time and money on a business that may not prove to be profitable.

Back 8

Risk

Front 9

9. A society's______________ is the amount of goods and services people canbuy with the money they have.

Back 9

Standard of living

Front 10

10. A _______________is an organization whose goals do not include making a personal profit

for its owners or organizers

Back 10

Nonprofit Organization

Front 11

11, An electronic storage file where information is kept is known a(n)________________and can be used to store vast amounts bf information about consumers.

Back 11

database

Front 12

12. When we study ______________ we are looking at a statistical study of the human population with regard to its size, density and other characteristics such as age, race, gender and income.

Back 12

Demography

Front 13

13. Known as____________ this means giving frontline workers the responsibility,

authority, and freedom to respond quickly to customer requests.

Back 13

Empowerment

Front 14

14. Computers, food, 'clothing, cars, and appliances, are tangible products known as___________

Back 14

Goods

Front 15

15._________is the amount of money a business earns above and beyond what it spends for

salaries and other expenses.

Back 15

Profit

Front 16

16. A business's________________ are all the people who stand to gain or lose by its policies and

activities.

Back 16

Stakeholders

Front 17

17. The total amount of money a business takes in during a given period by selling goods and services is called______________.

Back 17

Revenue

Front 18

18. ___________is considered to be everything that makes business processes more efficient and productive, such as phones, copiers, computers, medical imaging devices, personal digital assistants and various software programs

Back 18

Technology

Front 19

19. The surrounding factors of the_____________

development of businesses.

Back 19

Business environment

Front 20

20. The amount of output you generate given the amount of input such as hours worked is

called_____________________.

Back 20

Productivity

Front 21

21. Assigning various functions, such as accounting, production, security, maintenance, and legal work to outside organizations is known as_______________________

Back 21

Out Sourcing

Front 22

22. __________is obtaining private information about a and person, such as Social Security number and credit card number and using that information for illegal purposes.

Back 22

Identity Theft