business 101

1 – a system of exchange in which goods or services are traded directly for other goods and/or services without using money

2.

2 – the quantity of a product that producers are willing to sell at each of various prices

3.

3 – the shares of ownership of a corporation

4.

4 – a system in which employees set their own work hours within employer-determined limits

5.

5 – a market (or industry) with only one seller

6.

6 – the study of right and wrong and of the morality of the choices individuals make

7.

7 – a severe recession that lasts longer than a recession

8.

8 – the duty to do a job or perform a task

9.

9 – the chief business of the American people is ______________

10.

10 – a license to operate an individually owned business as though it were part of a chain of outlets or stores

11.

11 – the power, within an organization, to accomplish an assigned job or task

12.

12 – two or more consecutive three-month periods of decline in a country’s GOP

13.

13 – assigning part of a manager’s work and power to other workers

14.

14 – a statement of the basic purpose that makes an organization different from others

15.

15 – a general decrease in the level of prices

16.

16 – the early bird gets the worm, but the second mouse gets the ________________

17.

17 – the study of the decisions made by individuals and businesses

18.

18 – the obligation of a worker to accomplish an assigned job or task

19.

19 – an economic system in which individuals own and operate the majority of businesses that provide goods and services

20.

20 – the combined processes of leading and motivating

21.

21 – an end result that an organization is expected to achieve over a one- to ten-year period

22.

22 – the quantity of a product that buyers are willing to purchase at each of various prices

23.

23 – the purchase of one corporation by another

24.

24 – a voluntary association of two or more persons to act as co-owners of a business for profit

25.

25 – There is only one boss. The ________. And he can fire everybody in the company, from the chairman on down, simply by spending his money somewhere else.

26.

26 – the process of evaluating and regulating ongoing activities to ensure that goals are achieved

27.

27 – all activities undertaken to protect the rights of consumers

28.

28 – what remains after all business expenses have been deducted from sales revenue

29.

29 – an artificial person created by law with most of the legal rights of a real person, including the rights to start and operate a business, to buy or sell property, to borrow money, to sue or be sued, and to enter into binding contracts

30.

30 – an employee’s feelings about his or her job, superiors, and the firm itself

31.

31 – working at home all the time or for a portion of the work week

32.

32 – Behold the ______, he makes progress only when he sticks his neck out

33.

33 – the organized effort of individuals to produce and sell,for a profit, the products and services that satisfy society’s needs

34.

34 – a specific statement detailing what an organization intends to accomplish over a short period of time

35.

35 – a person who risks time, effort, and money to start and operate a business

36.

36 – the ability to influence others

37.

37 – a general rise in the level of prices

38.

38 – the informal communications network within an organization

39.

39 – rivalry among businesses for sales to potential customers

40.

40 – the most important single central fact about a free market is that no exchange takes place unless both parties _______

41.

41 – a person who owns a corporation’s stock

42.

42 – the individual internal process that energizes, directs, and sustains behavior; the personal force that causes you or me to behave in a particular way

43.

43 – the process of evaluating and regulating ongoing activities to ensure that goals are achieved

44.

44 – the process of influencing people to work toward a common goal

45.

45 – you’re only as good as the people you ______