©THEBRIGHTSTARS 2024
BUSN 201 Exam 1 Questions With Revised
Answers
As factors of production--equipment, buildings, vehicles, and cash are considered -
answer✔✔capital
a is any activity that provides goods or services to consumers for the purpose of making a profit -
answer✔✔business
as a producer and seller of athletic shoes, apparel, and equipment, Nike sells - answer✔✔goods
An unwritten rule and school/workplace ethics is - answer✔✔texting on cellphones during class
and during meetings
the primary value of a professionalism recognition program is expected to be -
answer✔✔increased employable by participating graduates
as part of their business plan, Martin Guitars identify their customers' needs, design products to
meet those needs, and manage customer relationships. in this respect, they're engaged in -
answer✔✔marketing
distinct privilege, consumer education, and scientific process are a part of Alchemy Coffee's -
answer✔✔mission statement
two qualities that Alchemy Coffee look for in their employees are - answer✔✔service
experience and passion
example of an intro statement is - answer✔✔hope you are having a great week so far!
what is an example of lean messaging - answer✔✔email
what is the best way to share several points of a business plan through email - answer✔✔use lists
with bullets or numbers
what is a special decision in the Biz Cafe' simulation? - answer✔✔is an incident which is like a
mini case
in contrast to a team, members of a working group - answer✔✔meet primarily to share
information
, ©THEBRIGHTSTARS 2024
the absence is a huge waste of time and energy as the team members fear showing their
weakness and being vulnerable to each other - answer✔✔trust
the important parts of the elevator pitch are not - answer✔✔acknowledging the secondary
audience
the most appropriate attire for the career fair is/are - answer✔✔business formals
on the day of the career fair do not - answer✔✔visit all the employers
when you sell goods, you generate a - answer✔✔gross profit
customer feedback in the customer survey incident can not be obtained through - answer✔✔cold
calling customers
if advertising on the radio cost $40/spot and you run 5 spots per day, your weekly cost for radio
advertising will be - answer✔✔$1400
the main participants of a business are - answer✔✔owners, employees, customers or followers
the functions most businesses perform are - answer✔✔management, operations, marketing,
accounting, and finance
external forces that influence business activities are - answer✔✔the economy, government,
consumer trends, and public trends
what is a business - answer✔✔an organization that provides services or goods to consumers and
need to make a profit
a good is a - answer✔✔tangible
a service is - answer✔✔company for provided needs
a profit is - answer✔✔difference between revenue that a company brings in from selling goods
and services and the costs of generating this revenue
is your college a for-profit or nonprofit enterprise? - answer✔✔non-profit because organizations
are established to provide social or educational services
what is economics? - answer✔✔the study of production, distribution, and consumption of goods
and services
what are factors of production? - answer✔✔resources consisting of land, labor, capital, and
entrepreneurial skills to produce goods and services
BUSN 201 Exam 1 Questions With Revised
Answers
As factors of production--equipment, buildings, vehicles, and cash are considered -
answer✔✔capital
a is any activity that provides goods or services to consumers for the purpose of making a profit -
answer✔✔business
as a producer and seller of athletic shoes, apparel, and equipment, Nike sells - answer✔✔goods
An unwritten rule and school/workplace ethics is - answer✔✔texting on cellphones during class
and during meetings
the primary value of a professionalism recognition program is expected to be -
answer✔✔increased employable by participating graduates
as part of their business plan, Martin Guitars identify their customers' needs, design products to
meet those needs, and manage customer relationships. in this respect, they're engaged in -
answer✔✔marketing
distinct privilege, consumer education, and scientific process are a part of Alchemy Coffee's -
answer✔✔mission statement
two qualities that Alchemy Coffee look for in their employees are - answer✔✔service
experience and passion
example of an intro statement is - answer✔✔hope you are having a great week so far!
what is an example of lean messaging - answer✔✔email
what is the best way to share several points of a business plan through email - answer✔✔use lists
with bullets or numbers
what is a special decision in the Biz Cafe' simulation? - answer✔✔is an incident which is like a
mini case
in contrast to a team, members of a working group - answer✔✔meet primarily to share
information
, ©THEBRIGHTSTARS 2024
the absence is a huge waste of time and energy as the team members fear showing their
weakness and being vulnerable to each other - answer✔✔trust
the important parts of the elevator pitch are not - answer✔✔acknowledging the secondary
audience
the most appropriate attire for the career fair is/are - answer✔✔business formals
on the day of the career fair do not - answer✔✔visit all the employers
when you sell goods, you generate a - answer✔✔gross profit
customer feedback in the customer survey incident can not be obtained through - answer✔✔cold
calling customers
if advertising on the radio cost $40/spot and you run 5 spots per day, your weekly cost for radio
advertising will be - answer✔✔$1400
the main participants of a business are - answer✔✔owners, employees, customers or followers
the functions most businesses perform are - answer✔✔management, operations, marketing,
accounting, and finance
external forces that influence business activities are - answer✔✔the economy, government,
consumer trends, and public trends
what is a business - answer✔✔an organization that provides services or goods to consumers and
need to make a profit
a good is a - answer✔✔tangible
a service is - answer✔✔company for provided needs
a profit is - answer✔✔difference between revenue that a company brings in from selling goods
and services and the costs of generating this revenue
is your college a for-profit or nonprofit enterprise? - answer✔✔non-profit because organizations
are established to provide social or educational services
what is economics? - answer✔✔the study of production, distribution, and consumption of goods
and services
what are factors of production? - answer✔✔resources consisting of land, labor, capital, and
entrepreneurial skills to produce goods and services
