BU-120 Final Exam Study Guide Questions and
Correct Answers| Rated A+ (2026) COMPLETE
QUESTIONS With 100% Verified Solutions
A complete ban on the import or export of a certain product or
the stopping of all trade with a particular country. -
✔✔ANSWER ✔✔-Embargo
A contract to make regular payments to a person for life or for
a fixed period. - ✔✔ANSWER ✔✔-Annuity
A court order directing someone to do something or to refrain
from doing something. - ✔✔ANSWER ✔✔-Injunction
A detailed written statement that describes the nature of the
business, the target market, the advantages the business will
have in relation to competition, and the resources and
qualifications of the owner(s).
,•Jerrold Carrington advises that one of the most important
parts of the business plan is the:
= Executive summary - ✔✔ANSWER ✔✔-Business plan
A favorable balance of trade; occurs when the value of a
country's exports exceeds that of its imports. - ✔✔ANSWER
✔✔-Trade surplus
A form of competition in which just a few businesses dominate
a market. - ✔✔ANSWER ✔✔-Oligopoly
A form of competition in which only one business controls the
total supply of a product and its price. - ✔✔ANSWER ✔✔-
Monopoly
A leader who can transform the ideas of employees through
inspiration, charisms, and a shared vision.
- Yvon Chouinard of Patagonia would most likely be classified as
what type of leader?
= Transformational - ✔✔ANSWER ✔✔-Transformational leader
,A market condition in which a large number of businesses
produce products that are very similar but are perceived by
buyers to be different. - ✔✔ANSWER ✔✔-Monopolistic
competition
A market condition in which there are many businesses and no
one business is large enough to dictate the price of a product. -
✔✔ANSWER ✔✔-Perfect competition
A market run like socialism in which the government owns
some of the basic businesses. - ✔✔ANSWER ✔✔-Socialist
market
A marketing strategy with the goal of keeping individual
customers over time by offering them products that exactly
meet their requirements. - ✔✔ANSWER ✔✔-Relationship
marketing
A motivation technique that involves moving employees from
one job to another. - ✔✔ANSWER ✔✔-Job rotation
, A motivational technique that involves combining a series of
tasks into one challenging assignment. - ✔✔ANSWER ✔✔-Job
enlargement
A person or entity that owns the rights to a franchise. -
✔✔ANSWER ✔✔-Franchisor
A person who buys a franchise. - ✔✔ANSWER ✔✔-Franchisee
A phrase coined by Adam Smith to describe the process that
turns self-directed gain into social and economic benefits for
all. - ✔✔ANSWER ✔✔-Invisible hand
A process that allows networked computers to run multiple
operating systems and programs through one central computer
at the same time.
- Blackberries or wireless laptop computers encourage____or
independence of location.
= Virtualization - ✔✔ANSWER ✔✔-Virtualization
Correct Answers| Rated A+ (2026) COMPLETE
QUESTIONS With 100% Verified Solutions
A complete ban on the import or export of a certain product or
the stopping of all trade with a particular country. -
✔✔ANSWER ✔✔-Embargo
A contract to make regular payments to a person for life or for
a fixed period. - ✔✔ANSWER ✔✔-Annuity
A court order directing someone to do something or to refrain
from doing something. - ✔✔ANSWER ✔✔-Injunction
A detailed written statement that describes the nature of the
business, the target market, the advantages the business will
have in relation to competition, and the resources and
qualifications of the owner(s).
,•Jerrold Carrington advises that one of the most important
parts of the business plan is the:
= Executive summary - ✔✔ANSWER ✔✔-Business plan
A favorable balance of trade; occurs when the value of a
country's exports exceeds that of its imports. - ✔✔ANSWER
✔✔-Trade surplus
A form of competition in which just a few businesses dominate
a market. - ✔✔ANSWER ✔✔-Oligopoly
A form of competition in which only one business controls the
total supply of a product and its price. - ✔✔ANSWER ✔✔-
Monopoly
A leader who can transform the ideas of employees through
inspiration, charisms, and a shared vision.
- Yvon Chouinard of Patagonia would most likely be classified as
what type of leader?
= Transformational - ✔✔ANSWER ✔✔-Transformational leader
,A market condition in which a large number of businesses
produce products that are very similar but are perceived by
buyers to be different. - ✔✔ANSWER ✔✔-Monopolistic
competition
A market condition in which there are many businesses and no
one business is large enough to dictate the price of a product. -
✔✔ANSWER ✔✔-Perfect competition
A market run like socialism in which the government owns
some of the basic businesses. - ✔✔ANSWER ✔✔-Socialist
market
A marketing strategy with the goal of keeping individual
customers over time by offering them products that exactly
meet their requirements. - ✔✔ANSWER ✔✔-Relationship
marketing
A motivation technique that involves moving employees from
one job to another. - ✔✔ANSWER ✔✔-Job rotation
, A motivational technique that involves combining a series of
tasks into one challenging assignment. - ✔✔ANSWER ✔✔-Job
enlargement
A person or entity that owns the rights to a franchise. -
✔✔ANSWER ✔✔-Franchisor
A person who buys a franchise. - ✔✔ANSWER ✔✔-Franchisee
A phrase coined by Adam Smith to describe the process that
turns self-directed gain into social and economic benefits for
all. - ✔✔ANSWER ✔✔-Invisible hand
A process that allows networked computers to run multiple
operating systems and programs through one central computer
at the same time.
- Blackberries or wireless laptop computers encourage____or
independence of location.
= Virtualization - ✔✔ANSWER ✔✔-Virtualization
