Busy. Please wait.
Log in with Clever

show password
Forgot Password?

Don't have an account?  Sign up 
Sign up using Clever

Username is available taken
show password

Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
Your email address is only used to allow you to reset your password. See our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Didn't know it?
click below
Knew it?
click below
Don't know
Remaining cards (0)
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Business Ch 1-4

Business Chapter 1-4

The organized effort of individuals to produce and sell, for a profit, the goods and service that satisfy societies needs is called business
Organizations that contain raw materials, machinery, and labor to produce goods are called manufacturing business
Mike Amerson decides to start a residential landscaping business. How would this business most likely be classified service business
The ultimate objective of every firm must be to satisfy the needs of their customers
When a firms sales revenue are greater than it expenses, the firm has a profit
For a business, stakeholders represent all the different people or groups who are affected in some way by the business
According to economists, natural resources, labor, capital, and entrepreneurship are called factors of production
Examples of command economies include socialism and communism
The total dollar value of all goods and services produced by all people within the boundaries of a country is called gross domestic product
The consumer price index (CPI) is a monthly index that tracks the prices paid by consumers and is often used to measure inflation
A market situation (or industry) in which there are few sellers Oligopoly
The application of moral standards to business situations Business ethics
The economic model of social responsibility places primary emphasis on economic return
Which of the following scenarios would not be considered international business a bearing manufacturer in South Carolina sells its parts to a Toyota plant in Kentucky
Purchasing products or materials in other nations and bringing them into one's country is importing
If the Land of Mercury had total exports of 150 billion and total imports of 234 billion, it had a trade deficit
Which of the following best defines balance of trade the total value of a nations exports minus the total value of its imports over some period of time
Another name for an import duty is a tariff
China is selling school supplies in the Untied States for very low prices, even lower than the prevailing prices in China, and thus making it extremely difficult for American manufactures to compete. This is referred to as dumping
Arguments for imposing trade restrictions include equalizing a nations balance of payments
a and business that is independently owned operated for profit and is not dominant in its field a small business
why some small business fail lack of capital and cash-flow problems, flack of management skills, and over expansion
a carefully constructed guide for the person starting a business business plan
three basic purpose for creating a business plan communications, management, planning
a governmental agency that assists, counsels, and protects the interests of small business in the U.S. the small business administration
a license to operate an individually owned business as through it were part of a chain of outlets or stores franchise
the actual granting of a franchise franchising
an individual or organization granting the franchise franchisor
a person or organization purchasing a franchise franchise
Created by: kacimckinney190
Popular Business sets




Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!
"Know" box contains:
Time elapsed:
restart all cards