BADM 101 TEST 1 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. A business provides goods and services in exchange for
sales revenues.
Answer:
True
Question:
2. Due to the great depression the government began
social programs.
Answer:
True
Question:
3. If you are looking for current job information and
statistics, you should visit www.bls.gov.
Answer:
True
Question:
4. A market economy is sometimes referred to as a
command economy.
Answer:
False
Question:
5. Adam smith developed the concept of the individual
hand to explain how all economic activity should be
based on a nations needs and not the individual needs.
Answer:
False
Question:
6. A businessperson can take some comfort when faced
with an ethical dilemma by talking openly about it with
management because they are protected by the
Sarbanes-Oxly Act.
Answer:
True
CORRECT ANSWERS
Question:
1. A business provides goods and services in exchange for
sales revenues.
Answer:
True
Question:
2. Due to the great depression the government began
social programs.
Answer:
True
Question:
3. If you are looking for current job information and
statistics, you should visit www.bls.gov.
Answer:
True
Question:
4. A market economy is sometimes referred to as a
command economy.
Answer:
False
Question:
5. Adam smith developed the concept of the individual
hand to explain how all economic activity should be
based on a nations needs and not the individual needs.
Answer:
False
Question:
6. A businessperson can take some comfort when faced
with an ethical dilemma by talking openly about it with
management because they are protected by the
Sarbanes-Oxly Act.
Answer:
True
