商务导论期末试题

Matching

Match the most appropriate term and explanation.

Business Any activity that seeks to provide goods and services to others while

operating at a point.

Loss When a business’s expenses are more than its revenues.

Profit The amount of money a business earns above and beyond what it spends

for salaries and other expenses.

Risk The chance an entrepreneur takes of losing time and money on a business that may not prove profitable.

Stakeholders All the people who stand to gain or lose by the policies and activities of a

business and whose concerns the business needs to address. Outsourcing Contracting with other companies(often in other countries)to do some or

all of the functions of a firm, like its production or accounting tasks. Revenue The total amount of money a business takes in during a given period by

selling goods and services.

GDP The total value of final goods and services produced in a country in a given year.

Invisible hand A phrase coined by Adam Smith to describe the process that turns

self-directed gain into social and economic benefits for all.

Capitalism An economic system in which all or most of the factors of production and

distribution are privately owned and operated for profit.

Supply The quantity of products that manufacturers or owners are willing to sell

at different prices at a specific time.

Demand The quantity of products that people are willing to buy at different prices

at a specific time.

Market price The price determined by supply and demand.

Monopoly A degree of competition in which only one seller controls the total supply

of a product or service, and sets the price.

Inflation A general rise in the prices of goods and services over time.

CPI Monthly statistics that measure that pace of inflation or deflation. Management The process used to accomplish organizational goals through planning,

organizing, leading, and controlling people and other organizational

resources.

Leading Creating a vision for the organization and guiding, training, coaching, and motivating others to work effectively to achieve the organization’s goals

and objectives.

Vision An encompassing explanation of why the organization exists and where

it’s trying to head.

Mission statement An outline of the fundamental purposes of an organization.

Goals The broad, long-term accomplishments an organization wishes to attain. Objectives Specific, short-term statements detailing how to achieve the organization

goals.

SWOT analysis A planning tool used to analyze an organization’s strengths, weakness,

Opportunities, and threats.