WGU C201 CHAPTER QUIZZES EXAM
QUESTIONS WITH COMPLETE
SOLUTIONS 2026
True/False: Macroeconomics is the study of small economic units such as households
and individual businesses - ANSWERSFalse
What is true of supply and demand curves? - ANSWERSMovement along the supply
curve is the opposite of movement along the demand curve.
In which market structure are there a large number of buyers/sellers, each of whom has
some significant control over price? - ANSWERSMonopolistic Competition
A few industries in the US, like transportation, energy, and communications, were
deregulated in the 1980s and 1990s to: - ANSWERSImprove customer service and
reduce prices
If labor hours increase, the amount of natural resources used remains the same, and
output remains constant, productivity is said to have: - ANSWERSDecreased
Core inflation rate is the inflation rate of an economy after _________ and ________
prices are removed. - ANSWERSenergy; food
___________ is formulated by the Federal Reserve System - ANSWERSMonetary
Policy
A _____________ reduces the money supply to curb rising prices, overexpansion, and
concerns about overly rapid economic growth. - ANSWERSRestrictive monetary policy
Economics is the study of: - ANSWERSThe choices people and governments make
when allocating scare resources
How does planning assist a company? - ANSWERSEffective planning helps a company
avoid costly mistakes and seize opportunities.
True/False: The ethical tone that a top management team establishes can reap
monetary rewards only. - ANSWERSFalse
Which of the following planning activities involves two components: business
continuation and public communication? - ANSWERSContingency planning
, Fathima, a CEO, sets guideposts that help managers in her organization define the
organization's desired performance in such areas as profitability, customer service,
growth, and employee satisfaction. In this scenario, Fathima is: - ANSWERSSetting
Objectives
Decisions involving entering a new market, deleting a product from the line, or
developing a new product are examples of: - ANSWERSnonprogrammed decisions
____________ is centered on the boss. - ANSWERSautocratic leadership
Managers use symbols, rituals, ceremonies, and stories to reinforce: -
ANSWERSCorporate culture
Which of the following statements is true of management? - ANSWERSManagement is
the process of achieving organizational objectives through people and other resources
The want-satisfying power of a good or service is called _____. - ANSWERSUtility
Canon's assembly line produces a camera by assembling various parts such as a
shutter or a lens cap. This is an example of a(n) _____ production process. -
ANSWERSSynthetic
Historically, robots were commonly used in the _______________. -
ANSWERSElectronics and Automotive industries
A company that wants to locate near a community often must prepare a(n)
_____________ that analyzes how a proposed plant would affect the quality of life in
the surrounding area. - ANSWERSenvironmental impact study
Since suppliers often offer virtually identical quality levels and prices, the final decision
on supplier selection often depends on: - ANSWERSthe company's past experience
with each supplier
The ___________ phase of production control determines the sequence of work
throughout the facility and specifies who will perform each aspect of the work at what
location. - ANSWERSrouting
True/False: Production creates form utility. - ANSWERSTrue
______________ products are those that are purchased after the consumer has
compared competing products in competing stores - ANSWERSShopping
Most people usually describe a product by its _____, whereas marketers focus on
_____. - ANSWERSfeatures; benefits
QUESTIONS WITH COMPLETE
SOLUTIONS 2026
True/False: Macroeconomics is the study of small economic units such as households
and individual businesses - ANSWERSFalse
What is true of supply and demand curves? - ANSWERSMovement along the supply
curve is the opposite of movement along the demand curve.
In which market structure are there a large number of buyers/sellers, each of whom has
some significant control over price? - ANSWERSMonopolistic Competition
A few industries in the US, like transportation, energy, and communications, were
deregulated in the 1980s and 1990s to: - ANSWERSImprove customer service and
reduce prices
If labor hours increase, the amount of natural resources used remains the same, and
output remains constant, productivity is said to have: - ANSWERSDecreased
Core inflation rate is the inflation rate of an economy after _________ and ________
prices are removed. - ANSWERSenergy; food
___________ is formulated by the Federal Reserve System - ANSWERSMonetary
Policy
A _____________ reduces the money supply to curb rising prices, overexpansion, and
concerns about overly rapid economic growth. - ANSWERSRestrictive monetary policy
Economics is the study of: - ANSWERSThe choices people and governments make
when allocating scare resources
How does planning assist a company? - ANSWERSEffective planning helps a company
avoid costly mistakes and seize opportunities.
True/False: The ethical tone that a top management team establishes can reap
monetary rewards only. - ANSWERSFalse
Which of the following planning activities involves two components: business
continuation and public communication? - ANSWERSContingency planning
, Fathima, a CEO, sets guideposts that help managers in her organization define the
organization's desired performance in such areas as profitability, customer service,
growth, and employee satisfaction. In this scenario, Fathima is: - ANSWERSSetting
Objectives
Decisions involving entering a new market, deleting a product from the line, or
developing a new product are examples of: - ANSWERSnonprogrammed decisions
____________ is centered on the boss. - ANSWERSautocratic leadership
Managers use symbols, rituals, ceremonies, and stories to reinforce: -
ANSWERSCorporate culture
Which of the following statements is true of management? - ANSWERSManagement is
the process of achieving organizational objectives through people and other resources
The want-satisfying power of a good or service is called _____. - ANSWERSUtility
Canon's assembly line produces a camera by assembling various parts such as a
shutter or a lens cap. This is an example of a(n) _____ production process. -
ANSWERSSynthetic
Historically, robots were commonly used in the _______________. -
ANSWERSElectronics and Automotive industries
A company that wants to locate near a community often must prepare a(n)
_____________ that analyzes how a proposed plant would affect the quality of life in
the surrounding area. - ANSWERSenvironmental impact study
Since suppliers often offer virtually identical quality levels and prices, the final decision
on supplier selection often depends on: - ANSWERSthe company's past experience
with each supplier
The ___________ phase of production control determines the sequence of work
throughout the facility and specifies who will perform each aspect of the work at what
location. - ANSWERSrouting
True/False: Production creates form utility. - ANSWERSTrue
______________ products are those that are purchased after the consumer has
compared competing products in competing stores - ANSWERSShopping
Most people usually describe a product by its _____, whereas marketers focus on
_____. - ANSWERSfeatures; benefits
