BUS6600 Final Exam with 100% Correct
Questions and Approved Answers |
Guaranteed Pass
Which industry will most likely benefit from an aging population? - Correct
Answer✔✔-Home health care business
Empowerment means - Correct Answer✔✔-Giving employees the authority to
make decisions
World trade has both benefits and costs. Which statement best attests to this
fact? - Correct Answer✔✔-Engaging in international trade can significantly
lower the costs for parts and products, but it also carries the risk of substantial
disruption if supply chain issues arise.
Effectiveness means - Correct Answer✔✔-Producing the desired result
Healthcare, insurance, recreation and other intangible products are provided by
what industry? - Correct Answer✔✔-Service industry
When corruption is present in the business environment, what often occurs? -
Correct Answer✔✔-Company leaders threaten competitors and minimize
competition.
What policies tend to favor business? - Correct Answer✔✔-Minimal
government spending because it keeps taxes to a minimum.
Manufacturing firms in the United States have consistently been laying off
workers. Based on what you have learned, the best explanation of this trend is
what? - Correct Answer✔✔-Firms in many industries have become so efficient
that they need fewer workers
The resources that contribute to the creation of wealth are known as what? -
Correct Answer✔✔-Factors of production
Taxes and government regulations are part of the ______________ environment
of business. - Correct Answer✔✔-Economic and legal
1
,What statement is accurate about the threat of terrorism and business? - Correct
Answer✔✔-It is costly to most firms because of increased costs for security,
equipment, and insurance.
Since the beginning of the 1900s, the agricultural sector of the United States has
- Correct Answer✔✔-Experienced a significant drop in employment, mainly
because of tremendous improvements
in efficiency.
Which individual would tend to favor a socialist economy? - Correct
Answer✔✔-Amber prefers to live in a country that promotes social equality
Microeconomics - Correct Answer✔✔-Looks at the behavior of individual
people and organizations in specific markets
Which policy suggests Keynesian economic theory? - Correct Answer✔✔-
short-term increases in government spending to stimulate the economy
As you are reading the online edition of your local newspaper, you quickly scan
a report in the business section that says government spending will again exceed
tax revenues in the current year. What does this mean for the economy? -
Correct Answer✔✔-total national debt is likely to increase
There are innovations involving new ways to produce and conserve energy. If
we can turn this new technology into marketable products and services that
produce energy to run our businesses and homes, the U.S. could see a surge in
output of goods and services. What would be measured to document this surge?
- Correct Answer✔✔-Gross Domestic Product, which is the value of a nation's
total output of final goods and services over a given year
The United States greatly relies on GDP data. However, it is only the total value
of finished goods produced by the country. Officials are looking to measure
total sales volume at all stages of production. What statistic would be most
useful to them? - Correct Answer✔✔-Gross output, which is the measure of
total sales volume at all stages of production
What is the name of a free-market economic system in which most factors of
production and distribution—such as land, factories, railroads, and stores— are
owned by individuals? - Correct Answer✔✔-Capitalism
2
, The main goal of resource development is to find ways to - Correct
Answer✔✔-increase the amount of resources and create conditions that will
make better use of those resources
Which statement about the Federal Reserve Bank (the Fed) is most accurate? -
Correct Answer✔✔-the fed manages the U. S. money supply and interest rates
Efforts by the Fed to control the money supply and interest rates are known as
what policy? - Correct Answer✔✔-Monetary
If a shortage exists for a good in a free-market economy, what happens to the
price of the good? - Correct Answer✔✔-It will rise.
One way to lessen the U.S. government budget deficit is to - Correct
Answer✔✔-Cut spending
A command economic system is characterized by what? - Correct Answer✔✔-
Reliance on the government to determine what is produced and who gets the
output
What planning determines the major goals of an organization and lays the
foundation for obtaining and using resources to achieve those goals? - Correct
Answer✔✔-Strategic
What is one difference between managers and leaders? - Correct Answer✔✔-
Managers work to achieve stability while leaders embrace change
When managers identify a market trend that suggests a new opportunity and
then devise a strategy to go after this new opportunity, they are involved in the
function of: - Correct Answer✔✔-Planning
In order for standards to be useful in the controlling process, they must have
certain characteristics. One of these characteristics is that they must be -
Correct Answer✔✔-Attainable
Which activity is part of the planning function of management? - Correct
Answer✔✔-Looking at market forecasts to identify future business
opportunities and challenges
3
Questions and Approved Answers |
Guaranteed Pass
Which industry will most likely benefit from an aging population? - Correct
Answer✔✔-Home health care business
Empowerment means - Correct Answer✔✔-Giving employees the authority to
make decisions
World trade has both benefits and costs. Which statement best attests to this
fact? - Correct Answer✔✔-Engaging in international trade can significantly
lower the costs for parts and products, but it also carries the risk of substantial
disruption if supply chain issues arise.
Effectiveness means - Correct Answer✔✔-Producing the desired result
Healthcare, insurance, recreation and other intangible products are provided by
what industry? - Correct Answer✔✔-Service industry
When corruption is present in the business environment, what often occurs? -
Correct Answer✔✔-Company leaders threaten competitors and minimize
competition.
What policies tend to favor business? - Correct Answer✔✔-Minimal
government spending because it keeps taxes to a minimum.
Manufacturing firms in the United States have consistently been laying off
workers. Based on what you have learned, the best explanation of this trend is
what? - Correct Answer✔✔-Firms in many industries have become so efficient
that they need fewer workers
The resources that contribute to the creation of wealth are known as what? -
Correct Answer✔✔-Factors of production
Taxes and government regulations are part of the ______________ environment
of business. - Correct Answer✔✔-Economic and legal
1
,What statement is accurate about the threat of terrorism and business? - Correct
Answer✔✔-It is costly to most firms because of increased costs for security,
equipment, and insurance.
Since the beginning of the 1900s, the agricultural sector of the United States has
- Correct Answer✔✔-Experienced a significant drop in employment, mainly
because of tremendous improvements
in efficiency.
Which individual would tend to favor a socialist economy? - Correct
Answer✔✔-Amber prefers to live in a country that promotes social equality
Microeconomics - Correct Answer✔✔-Looks at the behavior of individual
people and organizations in specific markets
Which policy suggests Keynesian economic theory? - Correct Answer✔✔-
short-term increases in government spending to stimulate the economy
As you are reading the online edition of your local newspaper, you quickly scan
a report in the business section that says government spending will again exceed
tax revenues in the current year. What does this mean for the economy? -
Correct Answer✔✔-total national debt is likely to increase
There are innovations involving new ways to produce and conserve energy. If
we can turn this new technology into marketable products and services that
produce energy to run our businesses and homes, the U.S. could see a surge in
output of goods and services. What would be measured to document this surge?
- Correct Answer✔✔-Gross Domestic Product, which is the value of a nation's
total output of final goods and services over a given year
The United States greatly relies on GDP data. However, it is only the total value
of finished goods produced by the country. Officials are looking to measure
total sales volume at all stages of production. What statistic would be most
useful to them? - Correct Answer✔✔-Gross output, which is the measure of
total sales volume at all stages of production
What is the name of a free-market economic system in which most factors of
production and distribution—such as land, factories, railroads, and stores— are
owned by individuals? - Correct Answer✔✔-Capitalism
2
, The main goal of resource development is to find ways to - Correct
Answer✔✔-increase the amount of resources and create conditions that will
make better use of those resources
Which statement about the Federal Reserve Bank (the Fed) is most accurate? -
Correct Answer✔✔-the fed manages the U. S. money supply and interest rates
Efforts by the Fed to control the money supply and interest rates are known as
what policy? - Correct Answer✔✔-Monetary
If a shortage exists for a good in a free-market economy, what happens to the
price of the good? - Correct Answer✔✔-It will rise.
One way to lessen the U.S. government budget deficit is to - Correct
Answer✔✔-Cut spending
A command economic system is characterized by what? - Correct Answer✔✔-
Reliance on the government to determine what is produced and who gets the
output
What planning determines the major goals of an organization and lays the
foundation for obtaining and using resources to achieve those goals? - Correct
Answer✔✔-Strategic
What is one difference between managers and leaders? - Correct Answer✔✔-
Managers work to achieve stability while leaders embrace change
When managers identify a market trend that suggests a new opportunity and
then devise a strategy to go after this new opportunity, they are involved in the
function of: - Correct Answer✔✔-Planning
In order for standards to be useful in the controlling process, they must have
certain characteristics. One of these characteristics is that they must be -
Correct Answer✔✔-Attainable
Which activity is part of the planning function of management? - Correct
Answer✔✔-Looking at market forecasts to identify future business
opportunities and challenges
3
