BUS 6600 FINAL QUESTIONS WITH VERIFIED ANSWERS
Businesses collect ______ information on where people live, what they buy, and how
they spend their time - Answers - demographic
Efficiency means: - Answers - producing goods and services using the least amount of
resources
When corruption is present in the business environment: - Answers - company leaders
may threaten competitors and minimize competition
Businesses favor ______ government spending because it keeps taxes to a minimum -
Answers - minimal
Technology is helping turn products into services by - Answers - offering new ways to
access items
Businesses that produce and tell tangible products like steel and machines are part of
the ______ industry - Answers - manufacturing
Diversity means: - Answers - dealing sensitively with workers and cultures around the
world
What is an advantage of utilitizing technology? - Answers - Productivity increases
A simple supply curve shows a relationship between the - Answers - price of a good and
the quality of that good sellers are willing to offer for sale at a specific point in time
A bank system crashed. These circumstances cut into consumers purchasing power,
causing a severe decline in the proce of goods and services, better known as ______ -
Answers - deflation
In a year, the price of a gem has increased from $7/lb to $90/lb. Under these
circumstances and the fact that more companies are looking to use the gem in their
products, a graph of the supply and demand for this product would show - Answers - the
price of the gem to be above the equilibrium price for this gem
A major benefit of socialism: - Answers - emphasis on social equality
One way to lessen the US government budget deficit is to - Answers - cut spending
The main goal of resource development is to find ways to - Answers - increase the
amount of resources and create conditions that will make better use of those resources
, One of the dangers of free markets is that business people and others may let _______
guide their behavior - Answers - greed
One of the most significant problems faced by communist nations is - Answers -
persistent shortages of basic goods such as food and clothing
If a shortage exists for a good in a free-market economy, the - Answers - price of the
good will rise
Keynesian economic theory suggests: - Answers - short-term increases in govermenet
spending to stimulate the economy
There are a large number of bakeries in AL and each produces similar, but not ideantial,
products. The bakery is an example of what type of competition? - Answers -
Monopolistic
_____ is the study of how a society employs its limited resources to produce goods and
services and how it distributes them among competiting groups and individuals -
Answers - economics
A _____ curve shows the relationship between the price of a good and the quantity of
that good people are willing and able to buy in a given time period. - Answers - Demand
______ are broad, long-term accomplishments an organization wants to achieve -
Answers - goals
Management function that involves allocating resources, assigning tasks, and
establishing procedures for accomplishing the orgizational objectives - Answers -
organizing
_______ skills involve a manager's ability to picture the organization as a whole and the
relationships among its various parts - Answers - conceptual
What activities are part of the organizing function of management? - Answers - Giving
front line workers assitional resources needed to provide faster and better services to
customers
By comparing the types of skills used by managers at different levels within an
organization, which of the following is true of first line managers? - Answers - First line
managers spend most of their time explaining procedures, assigning jobs, and
evaluating the performance of employees within their own areas These activities require
HR and technical skills. Top managers are concerned with creating a vision, strategic
planning, and overseeing the operation as a whole. This requires HR and conceptual
skills.
Businesses collect ______ information on where people live, what they buy, and how
they spend their time - Answers - demographic
Efficiency means: - Answers - producing goods and services using the least amount of
resources
When corruption is present in the business environment: - Answers - company leaders
may threaten competitors and minimize competition
Businesses favor ______ government spending because it keeps taxes to a minimum -
Answers - minimal
Technology is helping turn products into services by - Answers - offering new ways to
access items
Businesses that produce and tell tangible products like steel and machines are part of
the ______ industry - Answers - manufacturing
Diversity means: - Answers - dealing sensitively with workers and cultures around the
world
What is an advantage of utilitizing technology? - Answers - Productivity increases
A simple supply curve shows a relationship between the - Answers - price of a good and
the quality of that good sellers are willing to offer for sale at a specific point in time
A bank system crashed. These circumstances cut into consumers purchasing power,
causing a severe decline in the proce of goods and services, better known as ______ -
Answers - deflation
In a year, the price of a gem has increased from $7/lb to $90/lb. Under these
circumstances and the fact that more companies are looking to use the gem in their
products, a graph of the supply and demand for this product would show - Answers - the
price of the gem to be above the equilibrium price for this gem
A major benefit of socialism: - Answers - emphasis on social equality
One way to lessen the US government budget deficit is to - Answers - cut spending
The main goal of resource development is to find ways to - Answers - increase the
amount of resources and create conditions that will make better use of those resources
, One of the dangers of free markets is that business people and others may let _______
guide their behavior - Answers - greed
One of the most significant problems faced by communist nations is - Answers -
persistent shortages of basic goods such as food and clothing
If a shortage exists for a good in a free-market economy, the - Answers - price of the
good will rise
Keynesian economic theory suggests: - Answers - short-term increases in govermenet
spending to stimulate the economy
There are a large number of bakeries in AL and each produces similar, but not ideantial,
products. The bakery is an example of what type of competition? - Answers -
Monopolistic
_____ is the study of how a society employs its limited resources to produce goods and
services and how it distributes them among competiting groups and individuals -
Answers - economics
A _____ curve shows the relationship between the price of a good and the quantity of
that good people are willing and able to buy in a given time period. - Answers - Demand
______ are broad, long-term accomplishments an organization wants to achieve -
Answers - goals
Management function that involves allocating resources, assigning tasks, and
establishing procedures for accomplishing the orgizational objectives - Answers -
organizing
_______ skills involve a manager's ability to picture the organization as a whole and the
relationships among its various parts - Answers - conceptual
What activities are part of the organizing function of management? - Answers - Giving
front line workers assitional resources needed to provide faster and better services to
customers
By comparing the types of skills used by managers at different levels within an
organization, which of the following is true of first line managers? - Answers - First line
managers spend most of their time explaining procedures, assigning jobs, and
evaluating the performance of employees within their own areas These activities require
HR and technical skills. Top managers are concerned with creating a vision, strategic
planning, and overseeing the operation as a whole. This requires HR and conceptual
skills.
