BUS100 Final Exam || with 100% Correct Answers.
Which of the following is contributing to the acceleration of globalization?
A) restricting the amount of foreign direct investment
B) a shrinking role for developing nations
C) the dominance of the US economic system
D) increasing democratization
E) a rise in the number of non-US small, local businesses correct answers increasing democratization
When a wealthy individual invests his or her own money into a business project or start-up company with little intention to influence decision making, he or she is MOST often called a(n)? correct answers angel investor
Jenny and Rose are hairstylists that have decided to open their own salon by starting a general partnership. The first step is ensuring a successful partnership would be to? correct answers draw
up a partnership agreement
The nation of Baa-Baa raises sheep relatively more efficiently than the nation of Snuggle. Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa. Baa-Baa decides to specialize in raising sheep, to sell wool to Snuggle, and to buy blankets from Snuggle. Snuggle decides to specialize in blanket weaving, to sell blankets to Baa-Baa, and to buy wool from Baa-
Baa. This international trade illustrates? correct answers comparative advantage
Small businesses are important to the economy because? correct answers they generate about 64% of new jobs in the US
In a large corporation, shareholder responsibilities include? correct answers electing a board of directors
With a global strategy of conducting business internationally, a company competes correct answers primarily on the basis of price while selling a standardized product
Paula is thinking of making homemade perfumes and selling them to her relatives. She has not filed any legal documents to start he business. Paula would be operating as a correct answers sole
proprietor
All of these following are advantages of sole proprietorship except A) limited liability
B) single ownerships C) no separate tax form
D) ease of formation
E) control and flexibility correct answers limited liability
A dance studio and a dance wear manufacturer decide to combine. This type of merger is called a
correct answers vertical merger Which of the following does a franchise company offer to people who want to start a business
A) marketing and financial tools to run a business
B) product extension merger
C) vertical merger
D) horizontal merger
E) lower initial costs than when starting a business from scratch correct answers marketing and financial tools to run a business
Corporate social responsibility can de defined as a company's obligation to correct answers conduct its activities with the aim of achieving social, environmental, and economic development
When a company's revenue is greater than its expenses, it means that correct answers the company earns a profit
________ is the movement toward a more interconnected and independent world economy correct answers Globalization
In what way does monopolistic competition favor consumers correct answers A large number of sellers and products increases supply of similar, but not identical, products and services, so to increase demand sellers are like to reduce prices
taken together, the iPod and iTunes are correct answers complementary goods
a sole proprietor's income and expenses flow through correct answers his or her personal tax returns
the _____ is an independent agency of the federal government that was formed to aid, counsel, assist and protect the interests of small businesses correct answers Small business administration
the most significant difference between a partnership and a sole proprietor is the correct answers number of people contributing resources
to make good decisions, a successful manager must be able to think abstractly in order to picture the organization as a whole to understand its relationship to the rest of the business community, In other words, the manager must have correct answers conceptual skills
US importers prefer a _______ dollar correct answers strong
Mr. Gonzales wants to help fellow farmers in his community, but he is not interested in making a
personal profit. His main goal is to join with the other farmers so they can have better bargaining
power when purchasing supplies. Which of the following business types will Mr. Gonzales most likely form?
A) cooperative
B) not-for-profit
Which of the following is contributing to the acceleration of globalization?
A) restricting the amount of foreign direct investment
B) a shrinking role for developing nations
C) the dominance of the US economic system
D) increasing democratization
E) a rise in the number of non-US small, local businesses correct answers increasing democratization
When a wealthy individual invests his or her own money into a business project or start-up company with little intention to influence decision making, he or she is MOST often called a(n)? correct answers angel investor
Jenny and Rose are hairstylists that have decided to open their own salon by starting a general partnership. The first step is ensuring a successful partnership would be to? correct answers draw
up a partnership agreement
The nation of Baa-Baa raises sheep relatively more efficiently than the nation of Snuggle. Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa. Baa-Baa decides to specialize in raising sheep, to sell wool to Snuggle, and to buy blankets from Snuggle. Snuggle decides to specialize in blanket weaving, to sell blankets to Baa-Baa, and to buy wool from Baa-
Baa. This international trade illustrates? correct answers comparative advantage
Small businesses are important to the economy because? correct answers they generate about 64% of new jobs in the US
In a large corporation, shareholder responsibilities include? correct answers electing a board of directors
With a global strategy of conducting business internationally, a company competes correct answers primarily on the basis of price while selling a standardized product
Paula is thinking of making homemade perfumes and selling them to her relatives. She has not filed any legal documents to start he business. Paula would be operating as a correct answers sole
proprietor
All of these following are advantages of sole proprietorship except A) limited liability
B) single ownerships C) no separate tax form
D) ease of formation
E) control and flexibility correct answers limited liability
A dance studio and a dance wear manufacturer decide to combine. This type of merger is called a
correct answers vertical merger Which of the following does a franchise company offer to people who want to start a business
A) marketing and financial tools to run a business
B) product extension merger
C) vertical merger
D) horizontal merger
E) lower initial costs than when starting a business from scratch correct answers marketing and financial tools to run a business
Corporate social responsibility can de defined as a company's obligation to correct answers conduct its activities with the aim of achieving social, environmental, and economic development
When a company's revenue is greater than its expenses, it means that correct answers the company earns a profit
________ is the movement toward a more interconnected and independent world economy correct answers Globalization
In what way does monopolistic competition favor consumers correct answers A large number of sellers and products increases supply of similar, but not identical, products and services, so to increase demand sellers are like to reduce prices
taken together, the iPod and iTunes are correct answers complementary goods
a sole proprietor's income and expenses flow through correct answers his or her personal tax returns
the _____ is an independent agency of the federal government that was formed to aid, counsel, assist and protect the interests of small businesses correct answers Small business administration
the most significant difference between a partnership and a sole proprietor is the correct answers number of people contributing resources
to make good decisions, a successful manager must be able to think abstractly in order to picture the organization as a whole to understand its relationship to the rest of the business community, In other words, the manager must have correct answers conceptual skills
US importers prefer a _______ dollar correct answers strong
Mr. Gonzales wants to help fellow farmers in his community, but he is not interested in making a
personal profit. His main goal is to join with the other farmers so they can have better bargaining
power when purchasing supplies. Which of the following business types will Mr. Gonzales most likely form?
A) cooperative
B) not-for-profit
