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FREE BUSINESS AND STUDY GAMES ABOUT 2.02B KEY
TERM EXAM QUESTIONS
Qs and Ans Expert- Explanation
This Exam contains:
-Guarantee passing score -29 Questions and Answers -format set of multiple-choice -Expert- 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
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