Business Administration
Exam queries and answers graded
A+
Economics - ANS✅✅The body of knowledge of producing and using goods and services
Utility - ANS✅✅The ability to satisfy a want or need with a good or service
Centralization - ANS✅✅The power in a company is concentrated between a few people
Decentralization - ANS✅✅Decisions are made by managers at various levels
Hierarchy of needs - ANS✅✅Maslow, all people have 5 needs: Physiological, safety, belonging,
esteem, self-actualization
Monopoly - ANS✅✅Companies who control an industry; no longer exists
Scientific management - ANS✅✅Fredrick Taylor, seeks to improve productivity and make work
easier by carefully studying work
Theory X - ANS✅✅Douglas McGregor, assumes people dislike work and will avoid it if possible,
also imposes strict rules
Theory Y - ANS✅✅McGregor, assumes people like work; creativeness, potential, good work
environment
Theory Z - ANS✅✅William Ouchi, promotes stable and long term employment, high productivity,
and high employer satisfaction
Total quality management - ANS✅✅W. Edwards Deming, A system based on constantly improving
your product, Apple, Call of Duty
Exam queries and answers graded
A+
Economics - ANS✅✅The body of knowledge of producing and using goods and services
Utility - ANS✅✅The ability to satisfy a want or need with a good or service
Centralization - ANS✅✅The power in a company is concentrated between a few people
Decentralization - ANS✅✅Decisions are made by managers at various levels
Hierarchy of needs - ANS✅✅Maslow, all people have 5 needs: Physiological, safety, belonging,
esteem, self-actualization
Monopoly - ANS✅✅Companies who control an industry; no longer exists
Scientific management - ANS✅✅Fredrick Taylor, seeks to improve productivity and make work
easier by carefully studying work
Theory X - ANS✅✅Douglas McGregor, assumes people dislike work and will avoid it if possible,
also imposes strict rules
Theory Y - ANS✅✅McGregor, assumes people like work; creativeness, potential, good work
environment
Theory Z - ANS✅✅William Ouchi, promotes stable and long term employment, high productivity,
and high employer satisfaction
Total quality management - ANS✅✅W. Edwards Deming, A system based on constantly improving
your product, Apple, Call of Duty
