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Buiseness Studies - Part 4
1
of
25
💡
Hints:
3
Q1. What challenges does an entrepreneur face?
×
A. money
B. responsibility
C. paperwork
D. all of the above
Q2. During a long period of economic growth, which of the following statements is likely to be correct?
A. Manufactures of essential products may try to develop a range of income elastic goods
B. Retailers will often reduce the price of products to try to reverse falling consumer demand
C. Manufacturers of income elastic products will cut back on production
D. The number of entrepreneurs setting up new businesses is likely to fail
Q3. Which of the following means of transportation requires rail tracks for it movement?
A. Airplane
B. Canoe
C. Ferry boat
D. Train
Q4. In order for a contract to be enforceable it must have
A. offers
B. acceptance
C. consideration
D. legal purpose
Q5. white collar worker
A. jobs that have been traditionally held by women
B. person whose work requires professional training and knowledge
C. the person who decides how to combine land, labor, and capital to make new goods and services
D. a person who performs manual labor
Q6. Another name for Intermediaries is
A. Supplier
B. Consumer
C. Middle Man
D. Regulator
Q7. Which part of the business plan describes how the business has solved the problems?
A. Statement of Vision
B. The Marketing Plan
C. The Problem Need
D. Production/Technical Plan
Q8. This function must be completed f irst; sets objectives and makes long and short term plans for meeting objectives
A. Planning
B. Controlling
C. Organizing
D. Staffing
Q9. What are 3 reasons for international trade?
A. labour specialization
B. income levels
C. climate differences between regions
D. All of the above
Q10. Does inflation resgult in a decline in the purchasing power of money? n
A. Yes
B. No
Q11. It is a form of instruments that publicly- traded short-term investments.
A. Cash transactions
B. Money Market securities
C. Financial Market
D. Financial Reporting
Q12. Emphasizing customer service can help a business to be more
A. innovative
B. competitive
C. objective
D. possessive
Q13. Occurs when an individual’s or company’s actions result in an unfair benefit.
A. social responsibility
B. conflict of interest
C. public utility
D. antitrust laws
Q14. Which of the following is NOT usually considered a personal source of finance.
A. Savings
B. Redundancy payments
C. Crowdfunding
D. Credit card
Q15. Which of the following has the highest position in the company?
A. Regional Manager
B. Directors
C. CEO
D. workers
Q16. Person-to-person, in-house, communication is best done with a
A. quick memo
B. formal letter
C. personal letter
D. business proposal
Q17. Which one of following is not a function of money.
A. As a measure of value.
B. As a storage of value.
C. As a methods of differed paymentr.
D. Having a common acceptance.
Q18. A written document that describes in details how a new business is going to achieve its goals is called business
A. idea
B. opportunity
C. strategy
D. plan
Q19. In arbitration, the parties ___ their own solutions while in meditation, the parties ___ their own solution.
A. Do not create, create
B. Create, do not create
Q20. The process of developing, installing, and implementing computer information systems and applications. IT includes the support and maintenance of computer hardware and software.
A. Information Technology
B. Computers
C. Internet
D. Human Resources
Q21. Which of the following is a primary staffing consideration when a manager decides to hire a new employee?
A. communication methods
B. investment goals
C. necessary skills
D. reimbursement procedures
Q22. A panel of eighteen citizens that is randomly drawn from the same pool as those selected for jury duty for a trial.
A. Grand Jury
B. Initial Bail
Q23. An asset that people put money into hoping it will grow into a larger sum of money over time
A. opportunity cost
B. financial investment
C. incentive
Q24. People who are part owners of a company are known as
A. Stakeholders
B. Shareholders
C. Customers
D. People
Q25. The process whereby younger employees help members of an older generation understand differences is called
A. Mentoring
B. Reverse mentoring
C. Reverse training
D. None of these
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