BUS110 FINAL EXAM QUESTIONS WITH ACCURATE
ANSWERS
________is one of the hardest tasks in business correct answer Forecasting
demand for proposed product
______shows when your total sales revenues exactly equal your expenses. correct
answer break even analysis
. Using _____ branding, a company makes a product and sells it to a retailer who
resells it under its own name. correct answer private
.A trade restriction that limits the amount of a particular good that may be
imported into a country during a given period of time is correct answer An import
quota
.Economists define a _____, as two consecutive three-month periods of decline in
a country's GDP. correct answer recession
1. The ability to produce a specific product at a lower cost per unit than the cost
at which any other entity produces that good is called comparative advantage.
correct answer True
1.Management functions occur according to a rigid preset timetable. correct
answer False
2. Measuring actual performance is the first step in the control process. correct
answer True
, 2.The balance of trade is the total value of a country's exports less the total value
of its imports over some period of time. correct answer True
3. Top managers rely on technical skills more than managers at other levels.
correct answer False
3.A policy of considering only nonminority applicants for job openings is called
reverse discrimination. correct answer False
4. An operational plan is a type of plan designed to implement a tactical plan.
correct answer True
4.Free enterprise is a system of business in which individuals decide what to
produce and how to produce it. correct answer True
5. Improving customer satisfaction and increasing employee participation are two
objectives of total quality management. correct answer True
5. Profit is the payment that business owners receive for assuming the
considerable risks of ownership. correct answer True
6. In a command economy the consumer decides (commands) what products will
be produced. correct answer False
6.An operational manager spends a vast amount of time motivating employees.
correct answer False
ANSWERS
________is one of the hardest tasks in business correct answer Forecasting
demand for proposed product
______shows when your total sales revenues exactly equal your expenses. correct
answer break even analysis
. Using _____ branding, a company makes a product and sells it to a retailer who
resells it under its own name. correct answer private
.A trade restriction that limits the amount of a particular good that may be
imported into a country during a given period of time is correct answer An import
quota
.Economists define a _____, as two consecutive three-month periods of decline in
a country's GDP. correct answer recession
1. The ability to produce a specific product at a lower cost per unit than the cost
at which any other entity produces that good is called comparative advantage.
correct answer True
1.Management functions occur according to a rigid preset timetable. correct
answer False
2. Measuring actual performance is the first step in the control process. correct
answer True
, 2.The balance of trade is the total value of a country's exports less the total value
of its imports over some period of time. correct answer True
3. Top managers rely on technical skills more than managers at other levels.
correct answer False
3.A policy of considering only nonminority applicants for job openings is called
reverse discrimination. correct answer False
4. An operational plan is a type of plan designed to implement a tactical plan.
correct answer True
4.Free enterprise is a system of business in which individuals decide what to
produce and how to produce it. correct answer True
5. Improving customer satisfaction and increasing employee participation are two
objectives of total quality management. correct answer True
5. Profit is the payment that business owners receive for assuming the
considerable risks of ownership. correct answer True
6. In a command economy the consumer decides (commands) what products will
be produced. correct answer False
6.An operational manager spends a vast amount of time motivating employees.
correct answer False
