BUS 6600 Quiz Questions With Correct Answers

BUS 6600 Quiz Questions With Correct 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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-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 |ANSWER✔✔-a. |revenue.



The |two |major |types |of |e-commerce |are

a. |EDI |and |EDC.

b. |online |and |offline.

c. |B2B |and |B2C.

, d. |wholesale |and |retail. |- |CORRECT |ANSWER✔✔-c. |B2B |and |B2C.



Greening |refers |to

a. |the |need |for |more |carbon |dioxide |in |our |air.

b. |firms |acquiring |more |greenbacks |(U.S. |dollars) |from |world |trade.

c. |the |agricultural |industry's |push |to |develop |and |produce |new |green |vegetables |to |feed |the |
world.

d. |finding |ways |to |save |energy |and |lessen |the |harm |on |our |environment. |- |CORRECT |
ANSWER✔✔-d. |finding |ways |to |save |energy |and |lessen |the |harm |on |our |environment.



One |reason |the |CPI |is |monitored |very |closely |by |government, |businesses, |and |workers |is |that

a. |the |gross |domestic |product |is |computed |from |the |reported |increases |in |the |CPI.

b. |it |indicates |whether |we |are |running |a |budget |surplus |or |a |deficit.

c. |it |is |the |best |measure |of |worker |productivity |in |the |service |sector.

d. |some |wages, |interest |rates, |tax |rates, |and |government |benefits |are |tied |to |changes |in |the |
value |of |the |CPI. |- |CORRECT |ANSWER✔✔-d. |some |wages, |interest |rates, |tax |rates, |and |
government |benefits |are |tied |to |changes |in |the |value |of |the |CPI.



A |__________ |is |a |severe |recession |that |is |usually |accompanied |by |deflation.

a. |retraction

b. |dissolution

c. |depression

d. |stagflation |- |CORRECT |ANSWER✔✔-c. |depression



The |freedom |for |people |to |buy, |sell, |and |use |land, |buildings, |machinery, |and |inventions |are |
basic |capitalist |rights |under

a. |freedom |of |choice.

b. |freedom |of |expression.