Bus 211 bus211

BUS/211
FOUNDATIONS OF BUSINESS
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BUS 211 Entire Course Link
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BUS 211 Week 1 Business Models, Systems and Organization
Consider a local business whose services you frequently use. What are the main
components of this company's business model?
Write a 750-1000 word response in which you do the following:
 Describe the three components of the business system that comprises the local
business you selected. Use Figure 1.2 on p. 11 of Introduction to Business as a
reference.
 Identify the form of business organization that the business currently uses:
joint-stock company, limited liability, partnership, or sole proprietorship.
 Explain the differences between your business's form of organization and the
other three forms.
Resources: Ch. 1 & 2 of Introduction to Business
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment.

BUS 211 Week 2 Profits and Supply and Demand
Resource: Ch. 1 of Introduction to Business
Consider a fictional business you would be interested in starting. You will be using this
same business in other weekly assignments throughout the course.
You are seeking financing for your business, and a potential investor has asked you to
provide more information.
Write a 750-1000 -word response to your potential investor in which you do the following:
 Describe the products or services your business will offer and the
resources--materials, supplies, building, and so on--that you will need for your
startup.
 Examinethe differences between profit and profitability and how you plan to use
your profits to increase your business profitability.
 Describe how you expect your business may be affected by the laws of supply
and demand.
BUS 211 Week 2 Quiz
 Correct answerquestion1
When an entrepreneur uses advancing technology to find a new way to make or supply a
product, the entrepreneur utilizes which of the following opportunities?
o
Occupational
o
Commercial
o
Organizational
o
Capitalistic

Which two types of laws have been enacted to promote a company’s continued existence
and profitability?
o
Occupational qualifications and diversity
o
Occupational health and safety
o
Business and environmental stewards
o
Incorporation and bankruptcy
This is a process of dissolution of a business through which its assets are sold to repay its
creditors.
o
Chapter 13 bankruptcy
o
o
o
When is a business plan developed?
o
When proposing a new business venture
o
Annually
o
When reporting profit and loss
o
Shareholder meetings discussing past performance

This type of law exists to ensure that people have the skills they need to properly serve the
public interest.
o
Laws promoting employee health and safety
o
Laws regulating occupational qualifications
o
Laws relating to the public interest
o
Laws governing business diversity
Which of the following best defines the entrepreneurship process?
o
Using IT to assemble materials into the final product
o
Providing both direct and indirect services to customers
o
Exchanging or selling services to other companies
o
Acquiring and combining resources to create goods or services for customers to
buy.
Which law was enacted to force companies to more fully disclose their financial results
and to protect stockholders of the company?
o
Sarbanes-Oxley Act
o
Investment Company Act
o
Dodd-Frank Wall Street Reform and Consumer Protection Act
o
Securities Exchange Act

There are several advantages a company can gain over its competition by behaving in an
ethical way. The main advantage is
o
improved reputation
o
decreased costs
o
employee loyalty
o
increased sales
The utilitarian rule bases a business decision on which of the following?
o
What produces the greatest good for the greatest number of people.
o
What distributes benefits and harm among people in equitable and impartial
manner.
o
What maintains and protects the fundamental rights and privileges of people.
o
What a manager has no hesitation to communicate to people outside the
company, because the typical person in a society would think the decision is
acceptable.
What is the definition of a business plan?
o
An outline of the way a company will use its resources to create products that give
it a competitive advantage
o
A highly-detailed, written statement that explains the purpose of creating a new
venture
o

A summary of a company’s profit and loss for a specified period of time and its
plan for future growth
o
A general overview explaining the purpose of creating a new venture
What are the four elements of a SWOT analysis?
o
Systems, weaknesses, opportunities, and targets
o
Strengths, weaknesses, obstacles, and targets
o
Systems, weaknesses, obstacles, and threats
o
Strengths, weaknesses, opportunities, and threats
What is the primary role of a non-managerial employee?
o
To evaluate the performance of other employees
o
To assign resources and timelines to tasks
o
To perform the day–to-day tasks assigned to them as directed
o
To hire, coach, discipline, and fire employees as appropriate
A detailed SWOT analysis would classify a poorly designed marketing plan as a
o
weakness
o
strength
o
threat

o
opportunity
Which of the following impact ethical practices in business at home and abroad?
o
Cultural ethics, occupational ethics, legal ethics, and organizational ethics
o
Societal ethics, occupational ethics, individual ethics, and organizational ethics
o
Societal ethics, occupational ethics, legal ethics, and environmental ethics
o
Legal ethics, environmental ethics, individual ethics, and organizational ethics
Which ACT prohibits U.S. companies from paying bribes in order to win contracts abroad?
o
Securities Exchange Act
o
Investment Company Act
o
U.S. Foreign Corrupt Practices Act
o
Sarbanes-Oxley Act
 correct answerquestion16
What rules can managers employ as guidelines to analyze the effects of their business
decisions on stakeholders?
o
Utilitarian, social contracts, virtue, and practical rules
o
Relativism, moral rights, justice, and social contracts rules
o
Pragmatism, moral rights, justice, and practical rules
o

Utilitarian, moral rights, justice, and practical rules
Who has a claim on a company because they own shares?
o
Customers
o
Stockholders
o
Employees
o
Managers
Jones (2007) describes a three-stage business plan used by managers. Which of the
following is one of the stages?
o
Answering questions about products from customers
o
Assembling raw materials into finished products
o
Calling customers to sell products
o
Selecting goals and targets for team members
Anti-trust legislation exists
o
because it is the government’s job to regulate business
o
because it is the express aim of the U.S. government to foster competition
o
to make it illegal for companies to conspire with one another to limit supply
o
to protect consumers from shortages

Which of the following best describes how an employee can increase his or her chances of
being promoted inside an organization?
o
By being routinely confrontational with other employees and questioning the
status quo
o
By doing what he or she is asked to do and by meeting job requirements
o
By being proactive and looking for new ways to improve his or her skills
o
By ensuring performance remains within the boundaries of the job expectations
Laws governing diversity endeavor to motivate employers to
o
specify the skills, qualifications, and experience people must possess to be hired
for government occupations
o
help promote their survival and increase the profitability of business enterprises
o
govern how a company should behave to further the public interest
o
consider the skills, experience, and ability to do the job versus employee ethnicity,
religion, gender, age, and so forth
This Act was passed by congress to protect air quality and motivate companies to pollute
less.
o
Pollution Prevention Act
o
Clean Air Act
o
Energy Policy Act

o
Comprehensive Environmental Response, Compensation, and Liability Act
A detailed SWOT analysis would classify a well developed and informed business model
as a
o
threat
o
opportunity
o
weakness
o
strength
What type of information is within a business plan?
o
Past performance and stock price
o
Revenue, profit, and loss
o
New products, how the organization will compete, and how the organization will
organize resources
o
Tax penalties, number of personnel, and location of organization
A detailed SWOT analysis would classify competition in the industry or market as a
o
threat
o
opportunity
o
weakness

o
strength
This is the effect of unethical behavior on business commerce.
o
Less capital and wealth are created in society.
o
Unethical behavior becomes a social norm.
o
Stakeholders internalize the unethical values.
o
Less capital and wealth are accrued in the government sector.
Which example best describes an organizational opportunity?
o
Business identifies and creates a new product.
o
A business creates new, more effective ways to increase profitability.
o
A business sells their products to new customers.
o
A business launches and markets a 36-hour sale.
Which of the following best describes the employee “role”?
o
The experience and minimum skills required for a specific job
o
The nature of employment conditions, pay, and benefits
o
The set of tasks a person is expected to perform
o

The set of guidelines that govern organizational behavior
What is a copyright?
o
It is the grant of a property right that is issued to its inventor.
o
It is the creations of the mind including inventions, literary and artistic works, and
symbols, names, images, and designs used in commerce.
o
It is a word, name, symbol, or device which is used in trade with goods to indicate
the source of the goods and to distinguish them from the goods of others.
o
It is a form of protection provided to the authors of books, videogames, poems,
and songs produced by authors, poets, software experts, and musicians.
The U.S. Department of Labor Occupational Safety and Health Organization (OSHA) is
the government agency primarily responsible for
o
how companies protect their employees from harm while on the job
o
how companies recruit, promote, and retain people for employment
o
how companies determine the occupational requirements needed by employees
to protect the well-being of society
o
how the rights of consumers are protected in the marketplace
Which of the following people or groups supply a company with productive resources and
are affected by the way a company does business?
o
Stakeholders
o
Employees
o

Customers
o
Managers
Which answer contains the three types of entrepreneurial activities?
o
Business, sales, and training
o
Commercial, occupational, and organizational
o
Financing, selling, and purchasing
o
Evaluating, monitoring, and selling
What is a difference between an employee and a manager?
o
Employees hold each other accountable for success of the business
o
Employees have decision making authority over the organization’s resources
o
Employees are responsible for providing vision and leadership
o
Employees perform the many jobs to make, facilitate, and sell a product
Important issues can arise concerning how and when payments are made to this group of
stakeholders?
o
Employees
o
Customers
o
Suppliers and distributors

o
Stockholders
How do managers help the company’s stakeholders?
o
Assembling materials into finished products
o
Creating profitable goods and services
o
Assisting customers with their purchases
o
Providing financing to grow the business
BUS 211 Week 3 SWOT Analysis
Resource: Your Week 3 collaborative learning team discussion and Ch. 3 of Introduction
to Business
Complete the following with your learning team members.
 Research different examples of business plans found on the Internet. Choose one
of them to use for this assignment.
 Review the example of a SWOT analysis on p. 97 of the text.
 Conduct a SWOT analysis of the sample business plan you selected with your
team members. Use Appendix B as the template for your SWOT Analysis.
Indiviually, write a 700- to 1,050-word paper examining the business plan you selected.
Include a SWOT analysis highlighting the strengths, weaknesses, opportunities, and
threats of the company you chose.
Inlcude the SWOT analysis as Appendix in your paper and post the paper as an
attachment in the assignment thread.

Appendix B - SWOT Analysis Template
Strengths Weaknesses
Opportunities Threats
BUS 211 Week 3 Quiz
Your answers : 31/31 (100%) Correct answerquestion1
What are teams grouped by areas of expertise?
o
Functional
o
Top management
o
Cross-functional
o
Virtual
Which of the following could cause an individual to avoid performing a required job task
according to expectancy theory?
o
Low levels of self-efficacy
o
Goal orientation at odds with task
o
Desire for belongingness

o
Unmet physiological needs
Managers can cause organizational dysfunction by doing which of the following?
o
Focusing efforts on political battles
o
Promoting competition
o
Disagreeing that change is needed
o
Expressing conflicting ideas
According to the goal-setting theory, job performance goals should
o
measure the degree of effort
o
be specific and time bound
o
align to company culture
o
be broad and flexible
An organizational performance is increased with employees working in teams since
o
teams facilitate the division of labor and specialization
o
managers can more easily monitor the performance of their employees
o
teams facilitate goals and interests of different stakeholders that otherwise would
be incompatible
o

managers can develop group norms that facilitate cooperation
Businesses often promote norms which are entrepreneurial or conservative in nature.
Why?
o
The external environment influences corporate norms and must be controlled.
o
Promoting norms increases employee motivation.
o
Promoting norms allow the company to measure employee performance more
efficiently.
o
Companies try to select norms which match their business model and culture.
Employees will most often be motivated to initially fulfill basic needs rather than higher
level needs. Which of the following satisfies a higher need?
o
Promotion to senior position
o
Job stability and pay
o
Safe working environment
o
Bonuses and fringe benefits
Company values are shared standards that employees use to
o
evaluate if they have helped the company achieve its goals
o
measure profitability and make needed corrections in performance
o
govern interactions with other employees
o

evaluate risks and drive innovation in their department
Employees quickly figure out and adopt the values and norms desired by their company.
What is this process called?
o
Rites of integration
o
Organizational socialization
o
Rites of engagement
o
Cultural exchange
What best describes the contingency approach, as it relates to organizational design?
o
Creating a cultural design
o
Having the ability to alter a plan
o
Finding ways to increase revenue
o
Growing the business model
Maslow’s Need Theory is an hierarchal format that deals with ‘what’ is important to
individuals. Which of the following hierarchy most accurately reflects Maslow’s hierarchy?
o
Physiological, security, belongingness, self-actualization, esteem
o
Physiological, security, esteem, self-actualization, belongingness
o
Physiological, security, belongingness, esteem, self-actualization
o

Physiological, security, esteem, belongingness, self-actualization
What does the amount of conflict in an organization signal?
o
Openness to new ideas
o
Managers value conformity
o
Performance goals are not clear
o
Indecision by top management
Which of the five sources of a leader’s power would be demonstrated by a leader with
rightful authority to direct and control an employee’s activities?
o
Legitimate power
o
Expert power
o
Coercive power
o
Reward power
What form of business communication offers the highest form of persuasive
communication?
o
Face-to-face meeting
o
Instant messaging
o
Telephone conversation
o

E-mail
Companies with a strong culture may hold meetings to announce the company’s
achievements. Which source of company culture would best describe this activity?
o
Rites of enhancement
o
Rites of excellence
o
Rites of integration
o
Rites of passage
Which of the following best describes a company that has established a professional
culture?
o
It promotes streamlined decision making.
o
It maintains a professional setting.
o
It follows ethical business practices.
o
It invests in employee development.
Which theory tries to explain the psychological factors underlying why an individual selects
a task and exerts effort in performing a task?
o
Expectancy theory
o
Maslow’s hierarchy of needs
o
Goal-setting theory
o

Equity theory
Which of Maslow’s Hierarchy of Needs is geared toward personal fulfillment?
o
Self-actualization
o
Security
o
Esteem
o
Belongingness
What is the definition of a team?
o
Collection of people working towards a common goal
o
Employees jointly responsible to meet a goal
o
Employees working towards their specific goals
o
A group who follows the same rules
Being goal oriented has shown to be paramount to a person’s success. Why?
o
Focus is on reaching the unattainable
o
Goals are constant reminders of abilities
o
Motivated persistency
o
Goals remove obstacles

The motivational theory that tries to determine how much work is needed for a specific
outcome is
o
equity
o
expectancy
o
goal setting
o
MBO
Which of the following best describes how the values of the company’s founder influence
an organization?
o
They establish cultural norms.
o
They promote entrepreneurial practices.
o
They outline rites of integration.
o
They define rites of passage.
What form of business communication offers the lowest form of persuasive
communication?
o
Telephone conversation
o
Written letters and memos
o
Face-to-face meeting
o
E-mail

What best describes company norms?
o
Organizationaldesign
o
Standards of excellence
o
Ceremonies and rites
o
Informal but powerful rules
What work attitude would a leader promote to influence his or her worker?
o
Job satisfaction
o
Quantity and quality of work
o
Level of effort put into job
o
Reliability of performance
Which of the following best describes sources of a company’s culture?
o
Communication of strategic goals
o
Values of the founder and ceremonies
o
Employee autonomy and creativity
o
Values of innovation and excellence

Formal events that recognize an employee or group that have benefited the company by
their works are
o
rites of engagement
o
rites of passage
o
rites of integration
o
rites of enhancement
Organizational design is best defined as
o
the values and norms employees share
o
the coordination actions of employees and groups
o
the framework of task and authority
relationships
o
a specific type of organizational structure and culture
A company who desires to develop new or improved products would fit best with what type
of team?
o
Top management
o
Functional
o
Cross-functional
o
Virtual

The Matrix Structure is a unique organizational structure that responds to rapid changing
situations. Which of the following is a component of this structural design?
o
Employees are grouped into cross-functional product teams.
o
Managers group people by product instead of function.
o
R&D specialists manage product teams.
o
Most commonly used by non-high-tech companies
Which of the following in the best example of active listening?
o
Paying attention to the words being said and other signals
o
Knowing the sender’s problem in advance
o
Interaction between the sender and receiver
o
Paying attention as the sender voices ideas
BUS 211 Week 4 Motivation & Team Case Study
Resource: Your Week 4 learning team collaborative discussion and Ch. 7 of Introduction
to Business
Read the two case studies on pp. 233-236 of the text.
Discuss the following with your Learning team:
 What motivation theories may be found in each case study?
 Describe the theories found in each case study and cite specific examples.

 What was each business owner's approach to creating high-performing teams
within their company? What are common characteristics of high-performing
groups and teams?
Summarize your discussion in a 200- to 300-word individual response.
Format your summary consistent with APA guidelines.
BUS 211 Week 4 Quiz
Your answers : 31/31 (100%)
Which of the following costs is associated with a firm’s operations and materials
management function?
o
The cost of work-in-process goods, semifinished products moving through the
production process
o
The cost of the machinery, computers, tools, buildings, and equipment
o
The stock value of finished products a company holds in inventory
o
The cost of employee wages, including benefits
In the 1990’s, the Windows operating system, created by Microsoft, was installed in 90%
of the world’s PCs. This kind of penetration in the personal computer business made
Windows the
o
best-of-breed solution
o
industry standard
o
leader in the networking software

o
world’s largest software system
Which best describes B2B commerce?
o
Trade that takes place between companies
o
Commerce between wholesalers and retailers
o
Trade that is transacted electronically
o
Same industry commerce
Which of the following describes managers’ ability to use the collection and analysis of
data to gain information about various tasks and operations to increase the efficiency of a
particular function?
o
Superior information
o
Superior quality
o
Superior productivity
o
Superior innovation
Which of the following is a form of information that is constantly updated to make sure that
decisions can be as up-to-date as possible?
o
Reliable
o
Relevant
o

Complete
o
Real-time
Of the three stages in operation and materials management, which stage comes first?
o
Input
o
Production
o
Output
o
Operations
According to Jones (2007), the semi-finished goods and services that go through a
company’s production process are called
o
conversion
o
inputs
o
distribution
o
work-in-process
Which of the following is a key benefit of mass production operating systems?
o
Unique one-of-a-kind products
o
Flexible employees and work teams
o
A wide range of customized products

o
Lower operating costs
Information technology improves customer responsiveness by
o
giving middle managers the ability to collect and process more data
o
tracking changes to products and systems
o
allowing the organization to identify issues in products or process
o
tracking people’s likes, dislikes, and buying habits
Which component of the HRM system provides employees with information about their
performance relative to job expectations?
o
Labor relations
o
Performance appraisal and feedback
o
Training and development
o
Recruitment and selection
Which is the process that aims at identifying company inefficiencies and then determines
where improvements are needed?
o
Job analysis
o
Workflow analysis
o
Job specifications

o
Human resource planning
The aim of this process is to align human resources recruitment and retention with future
organizational goals.
o
Job specification
o
Job screening
o
Human resource planning
o
Job analysis
Which of the following best describes information learned from a Position Analysis
Questionnaire (PAQ)?
o
occupational safety and health concerns at work
o
the different types of employees’ job activities
o
pool of potential applicants for each position
o
specific sales strategies and daily targets
Which of the following is one of the four major sources of competitive advantages provided
by information technology?
o
Rapid development
o
Artificial intelligence
o

Superior innovation
o
Cutting edge communication
Which component of the HRM system strives to ensure equity and fairness in dealing with
employee issues and concerns?
o
Pay and benefits
o
o
Labor relations
o
Which component of the HRM system provides employees with the knowledge and skills
necessary to perform their job?
o
o
o
Training and development
o
Labor relations
Which of the following is the correct order of the operations and material management
process?
o
Output, operations, and input
o
Operations, input, and output
o

Input, operations, and output
o
Operations, output, and input
One major result of organizational learning is
o
increased work load
o
increased expenses
o
increased profitability
o
increased information
Some examples of elements in the operations stage of the operations and material
management process include
o
goods and services
o
skills and machines
o
raw materials and components
o
labor and customers
For what purpose do businesses consider establishing maquiladoras?
o
Reduce inventory costs.
o
Reduce distribution costs.
o
Reduce raw materials costs.

o
Reduce labor costs.
According to Jones (2007), what attributes should information provided to managers have
to be useful to the organization?
o
Complete, accurate, relevant, and timely
o
Clear, quality, engaging, and responsive
o
Complete, efficient, effective, relevant
o
Superior, relevant, timely, and innovative
The operating system that combines both the benefits of customized products and low
cost production is called
o
mass production
o
small-batch production
o
standardized production
o
flexible production
What is the major advantage of broadband technology?
o
Quick transmission of very large amounts of information
o
Transfer of data between networks over the Internet
o
Connection of databases of different institutions

o
Creation of an area network that links PCs to a central server
Which of the following is software developed for business within the same industry to
conduct trading?
o
Open source exchange
o
Business exchange center
o
Networking protocol
o
B2B marketplace
In the history of modern computers, which of the following came first?
o
Mainframe computers
o
Microprocessors
o
PCs
o
The World Wide Web
According to Jones (2007), which type of operating system is designed to make unique or
custom-made products?
o
Materials management production
o
Mass production
o
Flexible production

o
Small-batch production
Which best describes e-commerce?
o
Systems used for exchange
o
Same industry commerce
o
Commerce between wholesalers and retailers
o
Trade that is transacted electronically
Which of the following best explains how information technology improves innovation in a
company?
o
Allowing the organization to identify new audiences for an existing product
o
Tracking changes in financing related to product development
o
Giving customers ability to purchase products more easily
o
Providing up-to-date information on changes to products and systems
Which of the following best describes the result of information overload?
o
Data is missing which makes information difficult to understand.
o
Large amounts of real-time data make it difficult to collect.
o
Vast amounts of information make it difficult to determine what is useful.
o

Excess data causes systems to fail.
The combination of which two factors gives people the ability to better react to the
economic environment in which they function?
o
Facts and numbers
o
Knowledge and learning
o
Data and technology
o
Hardware and software
According to Jones (2007), the hardware and software components of a company’s
existing IT systems are called its
o
legacy systems
o
network computers
o
microprocessors
o
mainframes
BUS 211 Week 5 Business Portfolio Presentation
Resource: Student Appendix A
Review the assignments you completed throughout the course.
Create a 8-10 slide Powerpoint (No Paper is Due) and include information on the
following topics:
 Business organization
 Potential legal or ethical issues

 Business culture
 Types of motivation
 Technology
 The operations of the five areas of human resource management in your fictional
company
 The effects and costs of operations and materials management on your fictional
company
Include at least 3 citations and a reference slide conistant with APA formatting.
Appendix A
Final Project Overview and Timeline
Final Project Overview
Create a 8-10-slide Microsoft®
PowerPoint®
presentation supporting the topics below and
based on your previous individual assignments (see below under Final Project Timeline).
Use text, charts, tables, visuals, etc., to detail the different areas of business found within your
company.
 Business organization
 Potential legal or ethical issues
 Business culture
 Types of motivation
 Technology
 The operations of the five areas of human resource management in your fictional
company
 The effects and costs of operations and materials management on your fictional
company
Final Project Timeline
You should budget your time wisely and work on your project throughout the course. As
outlined below, some of the assignments in the course are designed to assist you in creating
your final project. If you complete your course activities and use the feedback provided by the
instructor, you will be on the right track to complete your project successfully.
 Suggested in Week One: Describe the three components of your company’s business
system and the form of business organization that you will be using.

 Suggested in Week Two: Create a fictional business that you will use for assignments
throughout the remainder of the class. Describe the products or services your business will
provide and how you plan to use profits to increase your business’s profitability.
 Suggested in Week Three: Describe the role of entrepreneurs, managers and employees
in your company. Describe its ethical code of conduct, including rules and principles that
your company will use in decision-making. Examine any laws that may be relevant to your
chosen rules and principles and how these laws differ from the business ethics you have
established. Explain the behaviors that you would like to cultivate in your company. Identify
the methods of motivation that will be used to motivate your employees.
 Suggested in Week Four: Determine the roles of the five areas of human resource
management in your company. Determine the role of technology in your company and
how operations and materials will be managed.
 Due in Week Five: Complete your final Microsoft
®
PowerPoint
®
presentation. Post as
attachments to your Assignment forum.
BUS 211 Week 5 Quiz
Your answers : 7/7 (100%)
A three stage business plan is used by managers. Which of the following is one of the
stages?
o
Assembling raw materials into finished products
o
Calling customers to sell products
o
Answering questions about products from customers
o
Selecting goals and targets for team members
What leadership approach would a leader take if they were to combine a concern for the
well-being of the employee with an approachable demeanor and attitude?
o

Participative approach
o
Supportive approach
o
Direct approach
o
Achievement-oriented approach
Marketing, operations, sales distribution, and customer service support are included in
what functions of a business?
o
Complimentary function
o
Primary value function
o
Secondary value function
o
Tertiary function
Which component of the HRM system determines who is the best fit for the organization’s
specific job requirements?
o
Labor relations
o
o
o
Pay and benefits
A detailed SWOT analysis would classify competition in the industry or market as a
o

threat
o
strength
o
opportunity
o
weakness
What term best describes the buyers and sellers available for a particular product?
o
Company
o
Demand
o
Market
o
Supply
When looking at a demand curve for a particular product. The slope falls downward from
left to right. This slope shows which of the following:
o
As price decreases, quantity increases.
o
As price increases, quality increases.
o
As price decreases, quality increases.
o
As quantity decreases, price decreases.

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