BUS 101 Midterm Exam UPDATED
ACTUAL Exam Questions and CORRECT
Answers
Which of the following is the best example of a service? - CORRECT ANSWER - the
pleasure you derive from seeing a good play
Curtiss Anaya is planning to sell kites on the beach this summer to pay for next year's school
expenses. _____ refers to the potential that Curtiss will lose money and waste his time and end
up at the end of the summer with not enough money to cover his expenses. - CORRECT
ANSWER - Risk
_____ is the money a company earns from providing services or selling goods to customers. -
CORRECT ANSWER - Revenue
As one of the factors of production, capital includes all of the following EXCEPT: - CORRECT
ANSWER - money
The quantity of a product or service that businesses will make available at various prices is
called: - CORRECT ANSWER - supply
Profits can be obtained through relationships in which of the following ways:
I. by acquiring new customers
II. by enhancing the profitability of existing customers
III. by extending the duration of customer relationships - CORRECT ANSWER - I, II, and
III
Which of the following is NOT a marketing activity? - CORRECT ANSWER -
Compliance
ACTUAL Exam Questions and CORRECT
Answers
Which of the following is the best example of a service? - CORRECT ANSWER - the
pleasure you derive from seeing a good play
Curtiss Anaya is planning to sell kites on the beach this summer to pay for next year's school
expenses. _____ refers to the potential that Curtiss will lose money and waste his time and end
up at the end of the summer with not enough money to cover his expenses. - CORRECT
ANSWER - Risk
_____ is the money a company earns from providing services or selling goods to customers. -
CORRECT ANSWER - Revenue
As one of the factors of production, capital includes all of the following EXCEPT: - CORRECT
ANSWER - money
The quantity of a product or service that businesses will make available at various prices is
called: - CORRECT ANSWER - supply
Profits can be obtained through relationships in which of the following ways:
I. by acquiring new customers
II. by enhancing the profitability of existing customers
III. by extending the duration of customer relationships - CORRECT ANSWER - I, II, and
III
Which of the following is NOT a marketing activity? - CORRECT ANSWER -
Compliance
