BUS 6600 Quiz Questions WITH ANSWERS

BUS 6600 Quiz Questions WITH
|\ |\ |\ |\ |\




ANSWERS


Efforts are underway to serve the needs of a diverse
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



population. Embracing diversity means |\ |\ |\




a. meeting employment quotas so that diverse groups are
|\ |\ |\ |\ |\ |\ |\ |\



always represented in your workforce.
|\ |\ |\ |\ |\




b. selling products to immigrants.
|\ |\ |\ |\




c. dealing sensitively with workers and cultures around
|\ |\ |\ |\ |\ |\ |\ |\



the world.|\




d. providing government programs such as free health
|\ |\ |\ |\ |\ |\ |\ |\



care for illegal and legal immigrants. - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔c. dealing sensitively with workers and|\ |\ |\ |\ |\ |\ |\



cultures around the world. |\ |\ |\




__________ means producing items using the least amount
|\ |\ |\ |\ |\ |\ |\ |\



of resources.
|\




a. Productivity
|\




b. Competence
|\




c. Technology
|\




d. Efficiency - CORRECT ANSWERS ✔✔d. Efficiency
|\ |\ |\ |\ |\ |\




When we compare the factors of production in wealthy
|\ |\ |\ |\ |\ |\ |\ |\ |\



versus poor nations, we find
|\ |\ |\ |\

,a. wealthy nations have land and labor, while poor
|\ |\ |\ |\ |\ |\ |\ |\ |\



nations have capital and entrepreneurship.
|\ |\ |\ |\




b. poor nations have plenty of land and knowledge, but
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



very little labor.
|\ |\




c. wealthy nations have knowledge and entrepreneurial
|\ |\ |\ |\ |\ |\ |\



opportunities, while poor nations are often lacking in |\ |\ |\ |\ |\ |\ |\ |\



these areas. |\




d. poor and wealthy nations (both) have an abundance of
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



knowledge; it is the land that varies, with rich nations
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



always having more. - CORRECT ANSWERS ✔✔c. wealthy
|\ |\ |\ |\ |\ |\ |\ |\



nations have knowledge and entrepreneurial
|\ |\ |\ |\ |\



opportunities, while poor nations are often lacking in |\ |\ |\ |\ |\ |\ |\ |\



these areas. |\




The statistical study of human population to learn its size,
|\ |\ |\ |\ |\ |\ |\ |\ |\



density, and characteristics is called
|\ |\ |\ |\ |\




a. econometrics.
|\ |\




b. demographics.
|\




c. psychographics.
|\




d. geometrics. - CORRECT ANSWERS ✔✔b. demographics
|\ |\ |\ |\ |\ |\




In order to compete well and gain market share,
|\ |\ |\ |\ |\ |\ |\ |\ |\



contemporary businesses are changing to be more |\ |\ |\ |\ |\ |\




a. management-driven.
|\




b. customer-driven.
|\

,c. production-driven.
|\




d. Cash-driven. - CORRECT ANSWERS ✔✔b. customer-
|\ |\ |\ |\ |\ |\



driven.


Which statement is accurate about the Social Security
|\ |\ |\ |\ |\ |\ |\ |\



system?
a. It continues to burden businesses because businesses
|\ |\ |\ |\ |\ |\ |\ |\



must provide and pay for this benefit for their employees.
|\ |\ |\ |\ |\ |\ |\ |\ |\




b. It is failing because the U.S. government failed to
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



invest the money that employees contributed.
|\ |\ |\ |\ |\




c. It will continue to serve the needs of U.S. citizens into
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



the distant future, because there are so few retirees
|\ |\ |\ |\ |\ |\ |\ |\ |\



placing a strain on it. |\ |\ |\ |\




d. It met the needs of our nation when it was first
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



introduced, but needs an overhaul. - CORRECT ANSWERS |\ |\ |\ |\ |\ |\ |\ |\



✔✔d. It met the needs of our nation when it was first
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



introduced, but needs an overhaul. |\ |\ |\ |\




The value of a firm's intellectual capital refers to
|\ |\ |\ |\ |\ |\ |\ |\




a. the type and success of its financial strategies.
|\ |\ |\ |\ |\ |\ |\ |\




b. its reputation in the marketplace.
|\ |\ |\ |\ |\




c. the average educational level of management.
|\ |\ |\ |\ |\ |\




d. its employee's knowledge and skills. - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔d. its employee's knowledge and skills.|\ |\ |\ |\ |\ |\

, In countries where businesses are government owned,
|\ |\ |\ |\ |\ |\




a. there is less incentive to work hard.
|\ |\ |\ |\ |\ |\ |\




b. profits tend to be higher.
|\ |\ |\ |\ |\




c. productivity tends to be highest.
|\ |\ |\ |\ |\




d. the right amount of each good is produced. - CORRECT
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\



ANSWERS ✔✔a. there is less incentive to work hard.
|\ |\ |\ |\ |\ |\ |\ |\




What policies tend to favor business?
|\ |\ |\ |\ |\




a. minimal government spending because it keeps taxes
|\ |\ |\ |\ |\ |\ |\ |\



to a minimum
|\ |\




b. maximum government spending because it raises
|\ |\ |\ |\ |\ |\ |\



business profits |\




c. more government services because it minimizes tax
|\ |\ |\ |\ |\ |\ |\ |\



consequences
d. increased regulation because it benefits stakeholders -
|\ |\ |\ |\ |\ |\ |\ |\



CORRECT ANSWERS ✔✔a. minimal government spending
|\ |\ |\ |\ |\ |\



because it keeps taxes to a minimum
|\ |\ |\ |\ |\ |\




The total amount of money that businesses take in by
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\



selling goods and services is called
|\ |\ |\ |\ |\




a. revenue.
|\




b. loss.
|\




c. profit.
|\




d. retained earnings. - CORRECT ANSWERS ✔✔a. revenue.
|\ |\ |\ |\ |\ |\ |\