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Business Terms: Standard of Living, Quality of Life, Factors, and Environment, Quizzes of Introduction to Business Management

Definitions for various business terms and concepts, including standard of living, quality of life, factors of production, and business environment. It also discusses the impact of current business trends on career choices. Topics such as the industrial revolution, entrepreneurship, production era, marketing, non-profit, value, speed-to-market, business technology, demographics, free trade, and general agreement on tariffs and trade (gatt).

Typology: Quizzes

2009/2010

Uploaded on 02/04/2010

lalala89-1
lalala89-1 🇺🇸

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TERM 1
Standard Of Living
DEFINITION 1
The quality and quantity of goods and services available to a
population
TERM 2
Quality of Life
DEFINITION 2
The overall sense of well being experienced by either an
individual or a group
TERM 3
American business into 5 eras
DEFINITION 3
1. Industrial Revolution- mid 1700-mid 1800 factories, semi-
skilled workers 2. Entrepreneurship- 1800's 3. Production Era-
early 1900's specialized jobs, FORD 4. Marketing
TERM 4
Non-profit
DEFINITION 4
Business like establishments that employ people and
produce goods and services with the fundamental goal of
contributing to the community rather than generating
financial
TERM 5
Factors of production
DEFINITION 5
four fundamental elements 1. Natural resources-land,
freshwater 2. capital- machines, tools, technology 3. human
resources- everyone who works within an economy, manual
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Standard Of Living

The quality and quantity of goods and services available to a population TERM 2

Quality of Life

DEFINITION 2 The overall sense of well being experienced by either an individual or a group TERM 3

American business into 5 eras

DEFINITION 3

  1. Industrial Revolution- mid 1700-mid 1800 factories, semi- skilled workers 2. Entrepreneurship- 1800's 3. Production Era- early 1900's specialized jobs, FORD 4. Marketing TERM 4

Non-profit

DEFINITION 4 Business like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial TERM 5

Factors of production

DEFINITION 5 four fundamental elements 1. Natural resources-land, freshwater 2. capital- machines, tools, technology 3. human resources- everyone who works within an economy, manual la

Business environment

The setting in which business operates, the 5 key components are 1. economic environment 2. competitive environment, 3. Technological environment 4. social environment 5global environment TERM 7

Value

DEFINITION 7 The relationship between the price of a good or a service and the benefits that it offers its customers TERM 8

speed-to-market

DEFINITION 8 the rate at which a new product moves from conception to commercialization. TERM 9

business technology

DEFINITION 9 any tools- especially computers, telecommunications and other digital products-that businesses can use to become more efficient and effective TERM 10

demographics

DEFINITION 10 the measurable characteristics of a population. demographic factors include age, gender and race