Bus 6600 Final Exam Questions With Verified Answers.pdf

BUS 6600 FINAL EXAM QUESTIONS WITH VERIFIED
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ANSWERS


A nation progresses socially when it has good schools, clean ai
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r and water, and more. Which statement accurately addresses c
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onditions for social progress? ,./ ,./ ,./



The foundation for social progress is a handful of wealthy entre
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preneurs willing to spread the wealth. ,./ ,./ ,./ ,./ ,./



Social progress will evolve when capital is apportioned to ever
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yone in equal amounts. ,./ ,./ ,./



Social progress can only improve when there is a strong labor
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pool to draw from. ,./ ,./ ,./



A city, state, or nation's social progress needs the right business
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environment. - correct answer ✔ ✔
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A city, state, or nation's social progress needs the right busine
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ss environment.
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,The series of lines on a product packaging that the cashier scan
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s when you check out at a grocery store or discount store is cal
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led a ,./



bar code. ,./



zip code. ,./



laser code. ,./




scan code. - correct answer ✔ ✔ bar code
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The total amount of money that businesses take in by selling g
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oods and services is called
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revenue.
profit.
retained earnings. ,./




loss. - correct answer ✔ ✔ revenue
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________ is the chance a business owner will lose the time and
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money invested in a business that proves to be unprofitable.
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Redundancy
Opportunity
Depreciation

,Risk - correct answer ✔ ✔ Risk
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When we compare the factors of production in wealthy versus
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poor nations, we find
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wealthy nations have land and labor, while poor nations have c
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apital and entrepreneurship.
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poor and wealthy nations (both) have an abundance of knowled
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ge; it is the land that varies, with rich nations always having m
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ore.
wealthy nations have knowledge and entrepreneurial opportunit
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ies, while poor nations are often lacking in these areas.
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poor nations have plenty of land and knowledge, but very little
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labor. - correct answer ✔ ✔
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wealthy nations have knowledge and entrepreneurial opportu
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nities, while poor nations are often lacking in these areas.
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__________ means producing items using the least amount of r
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esources.
Technology
Efficiency
Competence

, Productivity - correct answer ✔ ✔ Efficiency ,./ ,./ ,./ ,./




The two major types of e-commerce are
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EDI and EDC.
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wholesale and retail. ,./ ,./



online and offline. ,./ ,./




B2B and B2C. - correct answer ✔ ✔ B2B and B2C
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In today's competitive environment, successful businesses are k
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eenly focused on their
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customers.
suppliers.
creditors.
managers. - correct answer ✔ ✔ customers
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The new era of business is likely to be dominated by the
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natural resources sector.
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manufacturing sector. ,./



information-based sector. ,./