FREE BUSINESS AND STUDY GAMES ABOUT 2.02B KEY

PDF Download

FREE BUSINESS AND STUDY GAMES ABOUT 2.02B KEY

TERM EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -29 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: Conserve

Answer:

To slow down use of something to make its supply last longer than it would otherwise

Question 2: Employee assistance program

Answer:

A project organize and sponsored by a company to help its employees

Question 3: Generation X

Answer:

A term used to refer to individuals who were born between the years 1965 and 1980; also knowns gen X

Question 4: Alternative resource

Answer:

A resource that can be used in place of another

Question 5: Flextime

Answer:

A scheduling procedures in which employee select their own working hours as long as they work the required number of hours

Question 6: Inventory

Answer:

stock of goods

Question 7: Generation Y

Answer:

A term used to refer to individuals who were born between the years 1981 and 1995, also known as millennials

Question 8: Shared time

Answer:

When two employee s share the responsibility for one full time posostion

Question 9: Entrepreneurship

Answer:

Starting and building a business

Question 10: Technology

Answer:

Scientific application to business objectives or the methods used to attain those objectives

Question 11: Just-in-time inventory

Answer:

An inventory method in which goods and ordered so they arrive when they are needed rather than being stockpiled

Question 12: Demographics

Answer:

information used to describe a population

Question 13: Automation

Answer:

A method of operating or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labor

Question 14: Natural resources

Answer:

Items that are found in nature and used to produce goods and services

Question 15: Producers

Answer:

The people who make or provide goods and services

Question 16: Entrepreneurs

Answer:

People who assume the risk of starting and operating businesses

Question 17: Nonrenewable resources

Answer:

Natural resources that may become entirely depleted; natural resources that cannot be replenish after use

Question 18: Production

Answer:

The economic process or activity of producing goods and services

Question 19: Stockpiling

Answer:

Maintaining a large inventory

Question 20: Consumer goods and service

Answer:

products produced for personal consumptions

Question 21: Raw material

Answer:

Items in their natural state or condition

Question 22: Fossil fuels

Answer:

Nonrenewable, carbon-based energy sources formed underground from the fossilized remains of plants and animals

Question 23: Human resources

Answer:

People who work to produces goods and services

Question 24: Capital goods

Answer:

Manufactured or constructed items that are used to produce goods and services

Question 25: Factor of production

Answer:

Productive resources; human and natural resources and capital goods; also known as economic resources

Question 26: Resource owner

Answer:

Those who provide human resources, natural resources, and capital goods in order for production to take place

Question 27: Economic resources

Answer:

The human and natural resources and capital goods used to produce goods and services; also known as factors of production

Question 28: baby boomers

Answer:

A term used to refer to individuals who were born between the year 1996 and 1964