Unit 2.00 Business Environment BF10 Fall 2023

Front

A business decides against opening a store in the next town because its research shows the location will be unprofitable. What form of risk management is this?

Back

avoidance

Front

A characteristic of a seller’s market is:

Back

higher prices.

Front

A form of demand for products in which changes in price correspond to changes in demand is:

Back

elastic.

Front

Economic resources that help people be more productive are:

Back

capital goods resources.

Front

A business that buys goods or services and sells them to the ultimate consumer is a:

Back

retailer.

Front

The two main divisions of the trade industry are: producers and retailers, wholesalers and retailers, wholesalers and producers, manufacturers and wholesalers.

Back

wholesalers and retailers.

Front

New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition?

Back

surplus

Front

What do service businesses sell?

Back

intangible goods and services

Front

A large retailer wants to contribute to the well-being of society. It donates 10% of its proceeds to a charity that helps the environment. The retailer is demonstrating:

Back

social responsibility.

Front

To prepare for effective decision-making that ensures the efficient delivery of products to the marketplace, one should study:

Back

supply chains.