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BFBFBusiness Foundations
Chapters 1-6 Review
JEOPARDY
RouterRouterModesModes
WANWANEncapsulationEncapsulation
WANWANServicesServices
RouterRouterBasicsBasics
RouterRouterCommands Commands
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RouterRouterModesModes
WANWANEncapsulationEncapsulation
WANWANServicesServices
RouterRouterBasicsBasics
RouterRouterCommands Commands
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Chapter 1:Chapter 1: Wants/NeedsWants/Needs
Chapter 2:Chapter 2:EconomicEconomicResourcesResources
Chapter 3:Chapter 3:EconomicEconomicActivityActivity
Chapter 4:Chapter 4: EthicsEthics
Chapter 5:Chapter 5:Entrep.Entrep.
& Small Bus.& Small Bus.
Chapter 6:Chapter 6:BusinessBusiness
OwnershipOwnership
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F i n a l J e o p a r d y Q u e s t i o n
Question
The amount of money left over after the business has paid for the cost of producing goods and services.
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A: What is profit?
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Question
A: What is competition?
The contest between businesses to win customers.
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Question
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A: What is a consumer?
The person who selects, purchases, uses, or disposes of goods or services.
Chapter 1300
Question
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A: What is the decision making process?
The procedure for carefully considering alternatives and their consequences before making a final decision.
Chapter 1400
Question
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A: What is a resource?
Anything people can use to make or obtain what they need or want.
Chapter 1500
Question
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A: What are natural resources?
Raw materials found in nature.
Chapter 2100
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Question
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A: What is scarcity?
Shortage of resources.
Chapter 2 200
Question
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A: What is a market economy?
Combination of a command and market economy.
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Question
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A: What are the factors of production?
The study of how a society chooses to use it resources and distribute goods.
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Question
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A: What is the equilibrium price?
The price when the quantity of supply meets the quantity of demand of a particular good or service.
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A: What are economic indicators?
Term for figures used to measure an economic performance.
Chapter 3100
Question
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A: What is a budget surplus?
When a nation spends less than its income.
Chapter 3 200
Question
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A: What is the unemployment rate?
Measures the number of people who are able to work, but do not have a job.
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Question
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A: What is the ripple effect?
When a recession spreads from one industry to another industry.
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A: What is Peak, Recession, Depression, Recovery?
The 4 stages of the business cycle.
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Question
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A: What is are ethics?
The obligation to do what is best for the welfare of society.
Chapter 4100
Question
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A: What is a code of ethics?
A company’s set of guidelines for upholding ethical behaviors.
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A: What are business ethics?
The rules that govern how we do business.
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Question
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A: What is the Equal Pay Act?
Federal law requiring men and women be paid the same wage for doing the same work.
Chapter 4400
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A: What is the Environmental Protection Agency (EPA)?
Federal agency that enforces rules to protect the environment and control pollution.
Chapter 4500
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A: What is a virtual business or dot-com?
A business that operates on the Internet.
Chapter 5100
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A: What are small businesses?
Employs more than 50% of the workforce in the U.S.
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A: What is an entrepreneur?
Person who assumes the risks of a business enterprise.
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A: What is a business plan?
The written description of a new business venture that describes all aspects of the business.
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A: What is the Small Business Administration (SBA)?
According to this agency, small business owners are usually the managers.
Chapter 5500
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A: What is a partnership?
Business owned by two or more people.
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A: What are small businesses?
About 75% of all businesses in the U.S. are organized as this.
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A: What is a corporate charter?
License to run a corporation.
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A: What is a board of directors?
Corporation is overseen/controlled by this.
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A: What is a cooperative?
Ocean Spray is an example of this type of organization.
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Question
A: What is the customer purchases the product/service while the consumer uses the product/services. They can be the same person and in most cases, they are!
Describe the difference between a consumer and a
customer.
Final Jeopardy
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