BUS 6600 BOOKOUT FINAL QUESTIONS ANSWERED CORRECTLY GRADED A+
Businesses collect ______ information on where people live, what they buy, and how they spend
their time - Answers demographic
Efficiency means: - Answers producing goods and services using the least amount of resources
When corruption is present in the business environment: - Answers company leaders may
threaten competitors and minimize competition
Businesses favor ______ government spending because it keeps taxes to a minimum - Answers
minimal
Technology is helping turn products into services by - Answers offering new ways to access
items
Businesses that produce and tell tangible products like steel and machines are part of the
______ industry - Answers manufacturing
Diversity means: - Answers dealing sensitively with workers and cultures around the world
What is an advantage of utilitizing technology? - Answers Productivity increases
A simple supply curve shows a relationship between the - Answers price of a good and the
quality of that good sellers are willing to offer for sale at a specific point in time
A bank system crashed. These circumstances cut into consumers purchasing power, causing a
severe decline in the proce of goods and services, better known as ______ - Answers deflation
In a year, the price of a gem has increased from $7/lb to $90/lb. Under these circumstances and
the fact that more companies are looking to use the gem in their products, a graph of the supply
and demand for this product would show - Answers the price of the gem to be above the
equilibrium price for this gem
A major benefit of socialism: - Answers emphasis on social equality
One way to lessen the US government budget deficit is to - Answers cut spending
The main goal of resource development is to find ways to - Answers increase the amount of
resources and create conditions that will make better use of those resources
One of the dangers of free markets is that business people and others may let _______ guide
their behavior - Answers greed
One of the most significant problems faced by communist nations is - Answers persistent
shortages of basic goods such as food and clothing
If a shortage exists for a good in a free-market economy, the - Answers price of the good will
, rise
Keynesian economic theory suggests: - Answers short-term increases in govermenet spending
to stimulate the economy
There are a large number of bakeries in AL and each produces similar, but not ideantial,
products. The bakery is an example of what type of competition? - Answers Monopolistic
_____ is the study of how a society employs its limited resources to produce goods and services
and how it distributes them among competiting groups and individuals - Answers economics
A _____ curve shows the relationship between the price of a good and the quantity of that good
people are willing and able to buy in a given time period. - Answers Demand
______ are broad, long-term accomplishments an organization wants to achieve - Answers goals
Management function that involves allocating resources, assigning tasks, and establishing
procedures for accomplishing the orgizational objectives - Answers organizing
_______ skills involve a manager's ability to picture the organization as a whole and the
relationships among its various parts - Answers conceptual
What activities are part of the organizing function of management? - Answers Giving front line
workers assitional resources needed to provide faster and better services to customers
By comparing the types of skills used by managers at different levels within an organization,
which of the following is true of first line managers? - Answers First line managers spend most
of their time explaining procedures, assigning jobs, and evaluating the performance of
employees within their own areas These activities require HR and technical skills. Top
managers are concerned with creating a vision, strategic planning, and overseeing the operation
as a whole. This requires HR and conceptual skills.
A(n) _______ would be used by a department manager as a tool for making daily and weekly
assignments. - Answers Operational plan
A ____ explains why an organization exists and where it is trying to go. The purpose of ____ is to
provide a sense of purpose and common set of values to unite workers and give them a sense
of directions. - Answers Vision, vision
The organizing function today focuses on - Answers designing the organization around the
customer
A position that fulfills management functions, but is mostly tasked with tactical planning and
controlling is _______ ________. - Answers Middle management
______ _____ is choosing between 2 or more alternatives - Answers decision making
Businesses collect ______ information on where people live, what they buy, and how they spend
their time - Answers demographic
Efficiency means: - Answers producing goods and services using the least amount of resources
When corruption is present in the business environment: - Answers company leaders may
threaten competitors and minimize competition
Businesses favor ______ government spending because it keeps taxes to a minimum - Answers
minimal
Technology is helping turn products into services by - Answers offering new ways to access
items
Businesses that produce and tell tangible products like steel and machines are part of the
______ industry - Answers manufacturing
Diversity means: - Answers dealing sensitively with workers and cultures around the world
What is an advantage of utilitizing technology? - Answers Productivity increases
A simple supply curve shows a relationship between the - Answers price of a good and the
quality of that good sellers are willing to offer for sale at a specific point in time
A bank system crashed. These circumstances cut into consumers purchasing power, causing a
severe decline in the proce of goods and services, better known as ______ - Answers deflation
In a year, the price of a gem has increased from $7/lb to $90/lb. Under these circumstances and
the fact that more companies are looking to use the gem in their products, a graph of the supply
and demand for this product would show - Answers the price of the gem to be above the
equilibrium price for this gem
A major benefit of socialism: - Answers emphasis on social equality
One way to lessen the US government budget deficit is to - Answers cut spending
The main goal of resource development is to find ways to - Answers increase the amount of
resources and create conditions that will make better use of those resources
One of the dangers of free markets is that business people and others may let _______ guide
their behavior - Answers greed
One of the most significant problems faced by communist nations is - Answers persistent
shortages of basic goods such as food and clothing
If a shortage exists for a good in a free-market economy, the - Answers price of the good will
, rise
Keynesian economic theory suggests: - Answers short-term increases in govermenet spending
to stimulate the economy
There are a large number of bakeries in AL and each produces similar, but not ideantial,
products. The bakery is an example of what type of competition? - Answers Monopolistic
_____ is the study of how a society employs its limited resources to produce goods and services
and how it distributes them among competiting groups and individuals - Answers economics
A _____ curve shows the relationship between the price of a good and the quantity of that good
people are willing and able to buy in a given time period. - Answers Demand
______ are broad, long-term accomplishments an organization wants to achieve - Answers goals
Management function that involves allocating resources, assigning tasks, and establishing
procedures for accomplishing the orgizational objectives - Answers organizing
_______ skills involve a manager's ability to picture the organization as a whole and the
relationships among its various parts - Answers conceptual
What activities are part of the organizing function of management? - Answers Giving front line
workers assitional resources needed to provide faster and better services to customers
By comparing the types of skills used by managers at different levels within an organization,
which of the following is true of first line managers? - Answers First line managers spend most
of their time explaining procedures, assigning jobs, and evaluating the performance of
employees within their own areas These activities require HR and technical skills. Top
managers are concerned with creating a vision, strategic planning, and overseeing the operation
as a whole. This requires HR and conceptual skills.
A(n) _______ would be used by a department manager as a tool for making daily and weekly
assignments. - Answers Operational plan
A ____ explains why an organization exists and where it is trying to go. The purpose of ____ is to
provide a sense of purpose and common set of values to unite workers and give them a sense
of directions. - Answers Vision, vision
The organizing function today focuses on - Answers designing the organization around the
customer
A position that fulfills management functions, but is mostly tasked with tactical planning and
controlling is _______ ________. - Answers Middle management
______ _____ is choosing between 2 or more alternatives - Answers decision making
