
IBM Final Exam Study Guide
Flashcard
•
Business
•
9th Grade
•
Practice Problem
•
Easy
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40 questions
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1.
FLASHCARD QUESTION
Front
A(n) ____ includes the businesses, people, and activities involved in turning raw materials into products and delivering them to end users.
Back
supply chain
2.
FLASHCARD QUESTION
Front
____ is the term for all activities involved in developing and exchanging products.
Back
Business
3.
FLASHCARD QUESTION
Front
The difference between the income earned and the expenses incurred by a business during a specific period of time is called ____.
Back
profit
4.
FLASHCARD QUESTION
Front
The four components of GDP are consumer spending, business investment, government spending, and ____.
Back
net exports
5.
FLASHCARD QUESTION
Front
____ competition is a competitive advantage based on factors other than price.
Back
Nonprice
6.
FLASHCARD QUESTION
Front
A ____ is a legally binding agreement between two or more people or businesses.
Back
contract
7.
FLASHCARD QUESTION
Front
Principles that help define appropriate behavior in a business setting are ____.
Back
business ethics
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