Business is the economic pulse of a nation. Business provides goods and services necessary to an economic system. Business includes nonprofit organizations that provide services to the public.
When Google opened offices in Tokyo London and Sydney they were utilizing?
Cards
| Term Capitalism is founded on | Definition The belief that competition among business firms best serves the needs of society |
|---|---|
| Term When Google opened offices in Tokyo, London, and Sydney, they were utilizing ______ by relocating business activities to lower cost locations oversease | Definition Offshoring |
Is the ability to perceive marketplace needs and what an organization must do to satisfy these needs?
An organizations technology, tools, information, and physical facilities. Ability to analyze and assess information to pinpoint problems or opportunities. Vision. The ability to perceive marketplace needs and what an organization must do to satisfy them; perception of marketplace needs and ways a firm can satisfy them.
How are not for profit organizations different from profit seeking businesses quizlet?
Profit-seeking businesses do not focus on social or ethical responsibilities. Not-for-profit organizations operate only in the public sector. Profit-seeking organizations always have a surplus of funds; not-for-profit organizations always have a deficit of funds.
Which era of American business is called the Golden Age?
The period from 1950 to 1970 is often referred to as the Golden Age of American capitalism. Real per capita income grew in those years at 2.25 percent a year, and prosperity was democratized as huge numbers of Americans entered the middle class.
Which of the following is a disadvantage of a partnership?
Disadvantages of a partnership include that: the liability of the partners for the debts of the business is unlimited. each partner is ‘jointly and severally’ liable for the partnership’s debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts.
What is the most fundamental right of the private enterprise system?
The first and most fundamental is the right to private property: the right to own, use, buy, sell, and bequeath most forms of tangible and intangible property. The second is the business owners’ right to after-tax profit.
What is the most basic freedom under the private enterprise system?
Most basic freedom under the private enterprise system; the right to own, use, buy, sell, and bequeath land buildings, machinery, equipment, patents, individual possessions, and various intangible kinds of property.
What is the unique combination of organizational abilities products and approaches that sets a company apart from competitors in the minds of consumers?
Chapter 1
| Question | Answer |
|---|---|
| Competition | Battle among businesses for consumer acceptance |
| Competition Differentiation | Unique combination of organizational abilities, products, and approaches that sets a company apart from competitors in the minds of customers |
What are some of the main similarities and differences between for-profit and nonprofit ventures?
Similarities between Non-profits and Not-for-profits: Both make income, but reinvest all earnings back into the organization to continue operations and to support their causes. Although both have a staff consisting of mostly volunteers, they also hire and pay some higher-level employees within the organizations.
What was the global economy during the Golden Age?
Global economic climate Metric Golden Age Washington Consensus Average global growth 4.8% 3.2% Unemployment (US) 4.8% 6.1% Unemployment (France) 1.2% 9.5% Unemployment (Germany) 3.1% 7.5%
What was the Golden Age of capitalism like?
The new institutions marking the golden age of capitalism—increased trade union strength and government spending on social insurance—addressed the aggregate demand problems highlighted by the Great Depression and were associated with rapid productivity growth, investment, and falling inequality.
What was the result of the end of the Golden Age?
The policies adopted in response to the end of the golden age restored high profits and low inflation at the cost of rising inequality, but did not restore the investment and productivity growth of the previous epoch, and made economies vulnerable to debt-fuelled financial booms.
What was the period of business expansion in the world?
While this is the global period, specific countries experienced business expansions for different periods; in Taiwan, the Taiwan Miracle lasted into the late 1990s, for instance, while in France the period is referred to as Trente Glorieuses (Glorious 30 [years]) and is considered to extend for the 30-year period from 1945 to 1975.
