Summative Exam Flashcards

1
Q

Where does the supply and demand intersect?

A

Equilibrium price

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2
Q

Where does the desire of the consumer for a commodity reflect?

A

Demand

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3
Q

Strength, Weaknesses, Opportunities and Threats are what part of technique?

A

SWOT

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4
Q

Where does the exchange of goods and services across international borders of territories take place?

A

International Trade

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5
Q

What part of the business environment analysis technique uses opinion based on outside experts?

A

Expert Opinion

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6
Q

The unemployed spend less because of _____.

A

Lower personal income

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7
Q

KPIs means ________.

A

Key performance indicator

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8
Q

What types of businesses convert raw materials into finished goods?

A

Manufacturing

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9
Q

Businesses are reliant on ________.

A

Income

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10
Q

What is a product that is offered for sale at all possible prices in the market?

A

Supply

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11
Q

Under perfectly inelastic a percentage change in price creates no change in quantity demanded.

A

True

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12
Q

The price elasticity of supply measures the quantity of goods that buyers are willing to buy

A

True

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13
Q

Under the Law of Supply, when price goes up, supply goes UP.

A

True

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14
Q

When income goes up, consumers buy MORE.

A

True

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15
Q

Elasticity is the responsiveness of demand/supply to a change in its determinants.

A

True

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16
Q

The price elasticity of supply measures the quantity of goods that buyers are willing to buy.

A

True

17
Q

Current Problems of Filipino Entrepreneurs:

A

Inadequate access to technology
Financing Capital
Marketing Advice
Logistical problem in setting up and maintaining their competitiveness in their community

18
Q

Tools and Techniques in Making an Efficient Business

A

Use technology to speed up workflow

Shorter meetings fuel efficiency

Smart office space pays

Small changes, big savings

Manage staff expenses

Keep a firm grip on cash flow

Stay connected on the move

Use time more efficiently

Get the best deal on insurance

Do not be lax with the legaL

19
Q

Types of Business Competition

A

Performance Competition
Head to Head Competition
Controlling Supplies
Advertising
Distribution
Predatory Competition

20
Q

Main Determinants of Investment:

A

The Expected Return on the Investment

Business Confidence

Changes in National Income
Interest Rate

21
Q

Effect of High Taxes on Business:

A

Inadequate Incomes

Low Wages

High Prices

Substandard Products

Product Unavailability and Continuation

Poverty and High Crime

22
Q

Impact of Suppliers to Business

A

Quality

Timeliness

Competitiveness

Innovation

Finance

23
Q

These are the elements that the business or project could exploit to its advantage.

A

Opportunities

24
Q

It is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual.

A

International Trade

25
Q

The process of selling consumer goods or services to customers through multiple channels of distribution to earn a profit.

A

Retail

26
Q

Agribusiness is a business that earns most or all its revenue from

A

Agriculture

27
Q

GDP means:

A

Gross Domestic Product

28
Q

The following are the determinants of spending, which is not?

A

None of the above

29
Q

Businesses are reliant on:

A

Income

30
Q

A rise in interest rates will stimulate:

A

Savings

31
Q

The unemployed spends less because of:

A

Lower personal income

32
Q

Distributor of goods and services:

A

Supplier

33
Q
A