ISOM 112 FINAL EXAMS WITH
ACTUAL CORRECT QUESTIONS
AND VERIFIED DETAILED
ANSWERS ALREADY GRADED A+
GUARANTEED PASS
As it relates to Macroeconomics - Aggregate Supply in Basic Business Concepts, which best describes
aggregate demand?
The economic measurement of the sum of all final goods and services produced in an economy
As it relates to Basic Business Concepts, which of the following best describes Opportunity Cost?
D. Represents an alternative given up when a decision is made
As it relates to Basic Business Concepts, what is the Consumer Credit Protection Act of 1968?
B. Requires lenders to inform consumers about annual percentage rates
As it relates to Basic Business Concepts, what term is used for an individual or company having the duty
to act in the best interest of their environment and society?
A. Social responsibility
As it relates to Basic Business Concepts, what is the term used for aggregating prospective buyers into
groups, or segments, that have common needs and respond similarly to a marketing action?
B. Market segmentation
As it relates to Basic Business Concepts, which of the choices below is the best example of Intellectual
Property?
C. Patents
As it relates to Basic Business Concepts, what does the term Scarcity refer to?
A. The gap between limited resources and theoretically limitless wants
As it relates to Marketing - Market Plan in Basic Business Concepts, which of the following best describes
a marketing plan?
, B. A business's operational document for advertising campaigns designed to reach a target market
As it relates to Basic Business Concepts, which concept relating to Choice assumes that all people try to
actively maximize their advantage in any circumstance and then consistently try to minimize their
losses?
C. Rational choice theory
As it relates to Basic Business Concepts, what is the study of how people decide what to spend their
money on given their preferences and their budgets constraints?
A. Consumer theory
As it relates to Microeconomics - Supply and Demand in Basic Business Concepts, which best describes
the demand relationship?
B. Relationship between price and quantity
As it relates to Basic Business Concepts, what is the Time Value of Money?
C. The money available at the present time has more worth than the same amount in the future
As it relates to Marketing - Serving Selected Market in Basic Business Concepts, what are The 4 Ps?
D. Product, promotion, price, place
As it relates to the Design Process Levels of Knowledge Integration, which of the following is NOT one of
Polovinkin's rules?
D. Transformation of intellectual capital
As it relates to The Steps of the Design Process, which of the following is the first step?
A. Analyze the problem
As it relates to the Design Process, which of the following is a test that can be used to Propose
Solutions?
A. Economic Analysis
Which of the following is NOT one of the three variables that describe the design process?
C. Practical
As it relates to Levels of Knowledge Integration, which is the correct order of action flow to take during
the design process?
C. Redesign, Eliminate, Modify, Coordinate, Add
As is relates to the Design Process, which of the following are ways to Collect Information?
D. All of the above
As it relates to Inspiration within Design Process, inspiration has an important role in what two areas?
ACTUAL CORRECT QUESTIONS
AND VERIFIED DETAILED
ANSWERS ALREADY GRADED A+
GUARANTEED PASS
As it relates to Macroeconomics - Aggregate Supply in Basic Business Concepts, which best describes
aggregate demand?
The economic measurement of the sum of all final goods and services produced in an economy
As it relates to Basic Business Concepts, which of the following best describes Opportunity Cost?
D. Represents an alternative given up when a decision is made
As it relates to Basic Business Concepts, what is the Consumer Credit Protection Act of 1968?
B. Requires lenders to inform consumers about annual percentage rates
As it relates to Basic Business Concepts, what term is used for an individual or company having the duty
to act in the best interest of their environment and society?
A. Social responsibility
As it relates to Basic Business Concepts, what is the term used for aggregating prospective buyers into
groups, or segments, that have common needs and respond similarly to a marketing action?
B. Market segmentation
As it relates to Basic Business Concepts, which of the choices below is the best example of Intellectual
Property?
C. Patents
As it relates to Basic Business Concepts, what does the term Scarcity refer to?
A. The gap between limited resources and theoretically limitless wants
As it relates to Marketing - Market Plan in Basic Business Concepts, which of the following best describes
a marketing plan?
, B. A business's operational document for advertising campaigns designed to reach a target market
As it relates to Basic Business Concepts, which concept relating to Choice assumes that all people try to
actively maximize their advantage in any circumstance and then consistently try to minimize their
losses?
C. Rational choice theory
As it relates to Basic Business Concepts, what is the study of how people decide what to spend their
money on given their preferences and their budgets constraints?
A. Consumer theory
As it relates to Microeconomics - Supply and Demand in Basic Business Concepts, which best describes
the demand relationship?
B. Relationship between price and quantity
As it relates to Basic Business Concepts, what is the Time Value of Money?
C. The money available at the present time has more worth than the same amount in the future
As it relates to Marketing - Serving Selected Market in Basic Business Concepts, what are The 4 Ps?
D. Product, promotion, price, place
As it relates to the Design Process Levels of Knowledge Integration, which of the following is NOT one of
Polovinkin's rules?
D. Transformation of intellectual capital
As it relates to The Steps of the Design Process, which of the following is the first step?
A. Analyze the problem
As it relates to the Design Process, which of the following is a test that can be used to Propose
Solutions?
A. Economic Analysis
Which of the following is NOT one of the three variables that describe the design process?
C. Practical
As it relates to Levels of Knowledge Integration, which is the correct order of action flow to take during
the design process?
C. Redesign, Eliminate, Modify, Coordinate, Add
As is relates to the Design Process, which of the following are ways to Collect Information?
D. All of the above
As it relates to Inspiration within Design Process, inspiration has an important role in what two areas?
