Business Decisions Word Scramble
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| Question | Answer |
| 1) What are the five functions of management? Give a brief description and example of each. | |
| 2) What are the three management roles? Give a brief description and example of each. | |
| 3) What are the three management skills? Give a brief description | |
| 4) How do I apply the decision-making process? | |
| 5) What is a strategic plan and how does it help manage the growth, profit, and goals of a business? | |
| 6) How do businesses determine what to produce in a market economy? | |
| 7) How does the law of supply and demand determine the equilibrium price of a good or service? | |
| 8) What do you need to calculate the opportunity cost of a particular course of action? | |
| 9) How is the equilibrium price of a good or service determined? | |
| 10) Which of the following types of costs are fixed costs and which are variable costs: overtime expenses, carpeting at the office, salary of the public relations director, rent income tax? | |
| 11) How is break even point calculated | |
| 12) Compare a market economy with a command economy. Which system allocates resources better? | |
| 13) What are three factors that affect consumer demand | |
| 14) What are two phases of the business cycle? | |
| 15) In which phase of the business cycle does unemployment rise | |
| 16) What is a leading economic indicator | |
| 17) Why do business managers need to understand the business cycle? | |
| 18) How did the United State entry into World War II pull the economy out of the Great Depression? | |
| 19) What is the difference between the concepts of scarcity and shortage? When does scarcity exist? When does shortage exist? | |
| 20) Why are companies more likely to lay off workers in the contractionary phase of the business cycle than the expansionary phase? |
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Zobrewer123
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