MIE 201 Exam 1 Questions & Answers 100% Correct!

Which of the following is not something associated with nonprofit organizations? A. They Utilize Skills related to management, marketing, and finance B. They may provide goods and services C. They engage in Fundraising D. They have the fundamental goal of earning profits - ANSWERSD A depression is characterized by______. (Select all that apply) A. An economic expansion B. High unemployment C. Low consumer spending D. Low unemployment E. A reduction in business output - ANSWERSB C E Groups that have a strong interest in the success and outcomes of a business, such as employees, investors or government regulators are called ______________. - ANSWERSstakeholders What are the four functions of management? (Select all that apply) A. Collaborating B. Planning C. Organizing D. Leading E. Maneuvering F. Controlling - ANSWERSB C D F Generally speaking, if the market price of a product increases, the quantity of the product that businesses are willing to supply will ________. A. increase B. decrease C. stay the same - ANSWERSA Finance is primarily concerned with all the activities concerned with ________. A. Pricing and promoting products B. Organizing and motivating employees C. Obtaining money and using it effectively D. Market research and analysis - ANSWERSC The four functions of management are planning, leading, organizing, and ______________. A. directing B. appraising C. controlling D. producing - ANSWERSC The primary business activity that encompasses all the activities concerned with obtaining money and using it effectively is _____________. A. production B. manangement C. finance D. marketing - ANSWERSC Who stated that competition fosters efficiency and low prices by forcing producers to offer the best products at the most reasonable price? A. Steve Fo