1
BUS 6600 Exam Questions and Answers |
100% Verified | Updated 2025 Edition
1. What is the best example of a business whose goal is to earn a profit? - ANSWER
Amazon
2. As a factor of production, the term capital includes - ANSWER tools, machinery, and
buildings
3. Contemporary governments promote business development by - ANSWER increasing
business regulations
4. __________ is the chance a business owner will lose the time and money invested in a
business that proves to be unprofitable. - ANSWER Risk
5. Which statement best describes the main difference between B2B and B2C transactions?
- ANSWER B2B transactions involve transactions where the buyers and sellers are both
businesses, while B2C involves transactions between businesses and consumers
6. In recent years, almost all new job creation in the United States has occurred in the
__________ sector - ANSWER service
7. When prices are free to adjust over time, in the long run, the market price of a good tends
to - ANSWER equal the equilibrium price
8. The study of how to increase the amount of available resources and create conditions that
will make better use of these resources is known as - ANSWER resource development
9. In the box "Reaching Beyond Our Borders," the text describes rising prices in Venezuela
in late 2018. At one point, the cash used to make even small purchases was weighed
instead of counted, due to its extremely low value. During this period, Venezuelans
experienced a condition that economists refer to as - ANSWER hyperinflation
10. A(n) ________ leader would set objectives and give employees a great deal of freedom to
decide for themselves how to accomplish those objectives. - ANSWER free-rein
11. Amazon customers often find it helpful to read reviews for products they're considering
purchasing. After ultimately making the purchase, the customer can go to Amazon and
post his or her opinion of the recently purchased product. This strategy not only assists
other customers with their decision making, it helps Amazon assess the products it sells.
Which of the following statements attests to the value of this service? - ANSWER This
, 2
action supports a key criterion of the control function: the measurement of customer
satisfaction.
12. In a company in which an effective vision has been provided - ANSWER employees are
likely to have a sense of purpose and a common set of values.
13. The further up the managerial ladder a person moves, the ________ his or her original
job skills become. - ANSWER less important
14. Blair is a production line supervisor. She spends several hours each week creating
specific employee work assignments and production schedules for the coming week so
that the production department can meet its short-term production objectives. This
suggests that a significant component of Blair's job involves - ANSWER operational
planning.
15. The type of planning that is concerned with developing detailed short-term actions about
what is to be done, who is to do it, and how it is to be done is known as ________
planning. - ANSWER tactical
16. How are managers today different from managers in the past? - ANSWER Managers
today emphasize teamwork.
17. Strategic planning looks at the organization as a whole, while ________ planning focuses
on daily tasks and decisions. - ANSWER operational
18. Which of the following would be a concern addressed in a strategic plan? - ANSWER
Should the firm make a long-term commitment to expand into new markets?
19. Which of the following techniques would a team of workers be most likely to use if they
wanted to evaluate several possible solutions to a specific problem their company needs
to solve? - ANSWER PMI
20. Which of the following activities is part of the organizing function of management? -
ANSWER Giving front-line workers additional resources needed to provide faster and
better service to customers
21. ________ involves creating a vision for others to follow, establishing corporate values
and ethics, and transforming the way an organization does business so that it is more
effective and efficient. - ANSWER Leadership
22. On the long flight back from South Korea, Mike had plenty of time to reflect upon the
challenges of his business trip that took him all around Asia. His goal to sell his
company's state-of-the-art bicycle pump to several foreign firms certainly could have
gone better. Although none of the companies he visited turned him down, only one
agreed to place an order. Representatives from one Indonesian firm and two Chinese
firms asked him when he planned to come again! As Mike reviewed his memories and
, 3
notes, he wondered, "Didn't they realize the expense of these international trips?" Mike is
experiencing - ANSWER the differences between high-context and low-context cultures.
23. Which of the following statements about high-context cultures reflects how managers in
this type of culture might operate? - ANSWER As a sales professional trying to sell your
product to a business that operates within a high-context culture, you may have to visit
the decision makers several times and get to know them on a personal level.
24. One way employees can be motivated on the job is if - ANSWER there are procedures
for encouraging open communication.
25. Anna has worked for the Nutty Boys Nut Butter Company for several years now and was
recently recognized as one of the company's best employees. Her coworkers respect and
admire her, and she feels good about herself. According to Maslow, the type of needs that
are likely to motivate Anna in the future are - ANSWER self-actualization needs.
26. According to equity theory, which of the following statements is most accurate? -
ANSWER Employees' perceptions of fairness will affect their level of motivation.
27. The generation born between 1980 and 1995 is known as - ANSWER Generation Y.
28. All new employees at Madison Lane Manufacturing are specifically trained to use the
most efficient production methods. After extensive training, they are placed on an
assembly line and expected to perform the same task day after day, using the methods
they were taught. The work is boring, but the pay is good. Madison Lane's approach is
consistent with the principles of - ANSWER scientific management.
29. The degree to which a job has a substantial impact on the lives or work of others in the
organization is referred to as - ANSWER task significance.
30. In analyzing the differences among Theories X, Y, and Z managers, it is appropriate to
assess that - ANSWER Theory Z managers believe that getting employees more involved
in work-related decisions will generally increase productivity.
31. According to ________ the amount of effort employees devote to a task depends on their
expectations of the outcome. - ANSWER expectancy theory
32. In a high-context culture - ANSWER relationship building and group trust are considered
very important and occur before performing business tasks.
33. ________ is the characteristic of work concerned with the degree of freedom,
independence and discretion an employee has in scheduling work and determining
procedures. - ANSWER Autonomy
34. Paul Blocker is the offensive line coach for a university football team. He wants his
players to report to fall practice in good shape. Coach has set challenging fitness
, 4
standards that the linemen should have no problem achieving if they work hard during the
summer. He knows his players hate running wind sprints so to encourage them to work
out during the summer he announced that any player who passes the fitness test at the
beginning of fall practice will be allowed to skip sprints for the first two weeks of
practice. Coach Blocker's approach to motivation is consistent with - ANSWER
expectancy theory.
35. A nation progresses socially when it has good schools, clean air and water, and more.
Which statement accurately addresses conditions for social progress?
The foundation for social progress is a handful of wealthy entrepreneurs willing to spread
the wealth.
Social progress will evolve when capital is apportioned to everyone in equal amounts.
Social progress can only improve when there is a strong labor pool to draw from.
A city, state, or nation's social progress needs the right business environment. -
ANSWER A city, state, or nation's social progress needs the right business environment.
36. The series of lines on a product packaging that the cashier scans when you check out at a
grocery store or discount store is called a
bar code.
zip code.
laser code.
scan code. - ANSWER bar code
37. The total amount of money that businesses take in by selling goods and services is called
revenue.
profit.
retained earnings.
loss. - ANSWER revenue
38. ________ is the chance a business owner will lose the time and money invested in a
business that proves to be unprofitable.
Redundancy
Opportunity
Depreciation
Risk - ANSWER Risk
39. When we compare the factors of production in wealthy versus poor nations, we find
wealthy nations have land and labor, while poor nations have capital and
entrepreneurship.
poor and wealthy nations (both) have an abundance of knowledge; it is the land that
varies, with rich nations always having more.
wealthy nations have knowledge and entrepreneurial opportunities, while poor nations
are often lacking in these areas.
poor nations have plenty of land and knowledge, but very little labor. - ANSWER
wealthy nations have knowledge and entrepreneurial opportunities, while poor nations
are often lacking in these areas.
BUS 6600 Exam Questions and Answers |
100% Verified | Updated 2025 Edition
1. What is the best example of a business whose goal is to earn a profit? - ANSWER
Amazon
2. As a factor of production, the term capital includes - ANSWER tools, machinery, and
buildings
3. Contemporary governments promote business development by - ANSWER increasing
business regulations
4. __________ is the chance a business owner will lose the time and money invested in a
business that proves to be unprofitable. - ANSWER Risk
5. Which statement best describes the main difference between B2B and B2C transactions?
- ANSWER B2B transactions involve transactions where the buyers and sellers are both
businesses, while B2C involves transactions between businesses and consumers
6. In recent years, almost all new job creation in the United States has occurred in the
__________ sector - ANSWER service
7. When prices are free to adjust over time, in the long run, the market price of a good tends
to - ANSWER equal the equilibrium price
8. The study of how to increase the amount of available resources and create conditions that
will make better use of these resources is known as - ANSWER resource development
9. In the box "Reaching Beyond Our Borders," the text describes rising prices in Venezuela
in late 2018. At one point, the cash used to make even small purchases was weighed
instead of counted, due to its extremely low value. During this period, Venezuelans
experienced a condition that economists refer to as - ANSWER hyperinflation
10. A(n) ________ leader would set objectives and give employees a great deal of freedom to
decide for themselves how to accomplish those objectives. - ANSWER free-rein
11. Amazon customers often find it helpful to read reviews for products they're considering
purchasing. After ultimately making the purchase, the customer can go to Amazon and
post his or her opinion of the recently purchased product. This strategy not only assists
other customers with their decision making, it helps Amazon assess the products it sells.
Which of the following statements attests to the value of this service? - ANSWER This
, 2
action supports a key criterion of the control function: the measurement of customer
satisfaction.
12. In a company in which an effective vision has been provided - ANSWER employees are
likely to have a sense of purpose and a common set of values.
13. The further up the managerial ladder a person moves, the ________ his or her original
job skills become. - ANSWER less important
14. Blair is a production line supervisor. She spends several hours each week creating
specific employee work assignments and production schedules for the coming week so
that the production department can meet its short-term production objectives. This
suggests that a significant component of Blair's job involves - ANSWER operational
planning.
15. The type of planning that is concerned with developing detailed short-term actions about
what is to be done, who is to do it, and how it is to be done is known as ________
planning. - ANSWER tactical
16. How are managers today different from managers in the past? - ANSWER Managers
today emphasize teamwork.
17. Strategic planning looks at the organization as a whole, while ________ planning focuses
on daily tasks and decisions. - ANSWER operational
18. Which of the following would be a concern addressed in a strategic plan? - ANSWER
Should the firm make a long-term commitment to expand into new markets?
19. Which of the following techniques would a team of workers be most likely to use if they
wanted to evaluate several possible solutions to a specific problem their company needs
to solve? - ANSWER PMI
20. Which of the following activities is part of the organizing function of management? -
ANSWER Giving front-line workers additional resources needed to provide faster and
better service to customers
21. ________ involves creating a vision for others to follow, establishing corporate values
and ethics, and transforming the way an organization does business so that it is more
effective and efficient. - ANSWER Leadership
22. On the long flight back from South Korea, Mike had plenty of time to reflect upon the
challenges of his business trip that took him all around Asia. His goal to sell his
company's state-of-the-art bicycle pump to several foreign firms certainly could have
gone better. Although none of the companies he visited turned him down, only one
agreed to place an order. Representatives from one Indonesian firm and two Chinese
firms asked him when he planned to come again! As Mike reviewed his memories and
, 3
notes, he wondered, "Didn't they realize the expense of these international trips?" Mike is
experiencing - ANSWER the differences between high-context and low-context cultures.
23. Which of the following statements about high-context cultures reflects how managers in
this type of culture might operate? - ANSWER As a sales professional trying to sell your
product to a business that operates within a high-context culture, you may have to visit
the decision makers several times and get to know them on a personal level.
24. One way employees can be motivated on the job is if - ANSWER there are procedures
for encouraging open communication.
25. Anna has worked for the Nutty Boys Nut Butter Company for several years now and was
recently recognized as one of the company's best employees. Her coworkers respect and
admire her, and she feels good about herself. According to Maslow, the type of needs that
are likely to motivate Anna in the future are - ANSWER self-actualization needs.
26. According to equity theory, which of the following statements is most accurate? -
ANSWER Employees' perceptions of fairness will affect their level of motivation.
27. The generation born between 1980 and 1995 is known as - ANSWER Generation Y.
28. All new employees at Madison Lane Manufacturing are specifically trained to use the
most efficient production methods. After extensive training, they are placed on an
assembly line and expected to perform the same task day after day, using the methods
they were taught. The work is boring, but the pay is good. Madison Lane's approach is
consistent with the principles of - ANSWER scientific management.
29. The degree to which a job has a substantial impact on the lives or work of others in the
organization is referred to as - ANSWER task significance.
30. In analyzing the differences among Theories X, Y, and Z managers, it is appropriate to
assess that - ANSWER Theory Z managers believe that getting employees more involved
in work-related decisions will generally increase productivity.
31. According to ________ the amount of effort employees devote to a task depends on their
expectations of the outcome. - ANSWER expectancy theory
32. In a high-context culture - ANSWER relationship building and group trust are considered
very important and occur before performing business tasks.
33. ________ is the characteristic of work concerned with the degree of freedom,
independence and discretion an employee has in scheduling work and determining
procedures. - ANSWER Autonomy
34. Paul Blocker is the offensive line coach for a university football team. He wants his
players to report to fall practice in good shape. Coach has set challenging fitness
, 4
standards that the linemen should have no problem achieving if they work hard during the
summer. He knows his players hate running wind sprints so to encourage them to work
out during the summer he announced that any player who passes the fitness test at the
beginning of fall practice will be allowed to skip sprints for the first two weeks of
practice. Coach Blocker's approach to motivation is consistent with - ANSWER
expectancy theory.
35. A nation progresses socially when it has good schools, clean air and water, and more.
Which statement accurately addresses conditions for social progress?
The foundation for social progress is a handful of wealthy entrepreneurs willing to spread
the wealth.
Social progress will evolve when capital is apportioned to everyone in equal amounts.
Social progress can only improve when there is a strong labor pool to draw from.
A city, state, or nation's social progress needs the right business environment. -
ANSWER A city, state, or nation's social progress needs the right business environment.
36. The series of lines on a product packaging that the cashier scans when you check out at a
grocery store or discount store is called a
bar code.
zip code.
laser code.
scan code. - ANSWER bar code
37. The total amount of money that businesses take in by selling goods and services is called
revenue.
profit.
retained earnings.
loss. - ANSWER revenue
38. ________ is the chance a business owner will lose the time and money invested in a
business that proves to be unprofitable.
Redundancy
Opportunity
Depreciation
Risk - ANSWER Risk
39. When we compare the factors of production in wealthy versus poor nations, we find
wealthy nations have land and labor, while poor nations have capital and
entrepreneurship.
poor and wealthy nations (both) have an abundance of knowledge; it is the land that
varies, with rich nations always having more.
wealthy nations have knowledge and entrepreneurial opportunities, while poor nations
are often lacking in these areas.
poor nations have plenty of land and knowledge, but very little labor. - ANSWER
wealthy nations have knowledge and entrepreneurial opportunities, while poor nations
are often lacking in these areas.
