Which of the following statements about businesses is true?
A. Businesses provide goods and services and receive payment in money.
B. Businesses frame rules and regulations to maintain the law and order in a country.
C. Businesses determine the kinds of goods and services that a government will use.
D. Businesses do not interact with other players in the economy.
E. Businesses are seldom affected by economic cycles.
Answer: A
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When a check is issued, the party being paid the cash is referred to as the ________.
A) payee B) maker C) bank signatory D) depositor
This is a manufacturing method in which basic parts and components of a product are kept in stock and assembled to the customer’s requirements.
A. make-to-order B. engineer-to-order C. assemble-to-order D. make-to-stock
The law of primacy refers to ________
A) being first in a product category B) establishing credibility C) gaining credibility with media D) earning prime placement in media
______ is used to forecast demand for a new product or service that is similar to existing products.
A. Market research B. The Delphi method C. A historical life-cycle analogy D. A sales force opinion