BUS 6600 FINAL TEST | QUESTIONS AND ANSWERS | VERIFIED
ANSWERS | LATEST EXAM
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
b
The resources that contribute to the creation of wealth are known as
factors of production.
Entrepreneurs weigh the differences between the benefits of starting a
business and those things that they are likely to forego because they choose
to work for themselves. Such things they are likely to pass up on are
employer-paid benefits such as paid vacation and health insurance.
Businesses collect __________ information on where people live, what they
buy, and how they spend their time.
demographic
Today's businesses attempt to meet the needs of
all stakeholders.
__________ is the amount a business earns after deducting what it spends
for salaries and other expenses.
Profit
In today's competitive environment, successful businesses are keenly
focused on their
Customers
Diversity is more than recruiting and keeping minority and female
employees. Diversity means appreciating and understanding other
differences in our customers and in our workforce. The best description of
these differences is
people with disabilities, people with different sexual orientations, religious
preferences, and even personality differences such as extroverts and
introverts.
Often in business the greater the risk, the
,greater the potential reward.
__________ is illegally obtaining and illegally using private information
about a person, such as using someone's credit card number.
Identity Theft
What is the best example of a business whose goal is to earn a profit?
Amazon
Which statement explains how people working in their own self-interest
produce goods, services, and wealth for others?
In order to earn money and produce goods that improve lives, self-directed
gain ultimately provides jobs, and subsequently wages for others.
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
resource development.
Both socialism and communism are variations of
command economies.
__________ unemployment refers to persons who purposefully quit their
jobs and have not yet found a new job.
Frictional
__________ is the study of how a society employs its limited resources to
produce goods and services and how it distributes them among competing
groups and individuals.
Economics
In a free-market economic system, __________ is the key determinant used
to signal to producers what to produce and how much to produce.
Price
Communist values are disappearing because
food and other product shortages overwhelm citizens since the government
must guess what citizens need.
Which statement about capitalism is the most accurate?
Capitalism is characterized by unequal distribution of wealth and income.
, A benefit of a free market can be that
businesses provide customers with quality products at fair prices.
Economist Thomas Malthus believed that __________ would limit
economic progress.
overpopulation
Fiscal policy involves increases or decreases in
government spending and taxes.
Communism is an economic system in which
the government makes almost all the major economic decisions.
__________ unemployment refers to unemployment caused by the
restructuring of firms or by a mismatch between the skills of job seekers
and the requirements of available jobs.
Structural
Contemporary governments promote business development by
establishing a currency that is tradable in world markets.
A basic difference between goals and objectives is that goals are
concerned with broad, long-term accomplishments, while objectives focus
on specific short-term details.
_________ is the management function that involves setting goals,
strategies, and tactics for achieving the organization's goals and objectives.
Planning
__________ skills involve a manager's ability to picture the organization as
a whole and the relationships among its various parts.
Conceptual
Leadership, coaching, and morale building are all part of a manager's
__________ skills.
Human Relations
The first step in the rational decision-making model is to
Define the situation
Middle managers are responsible for
ANSWERS | LATEST EXAM
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
b
The resources that contribute to the creation of wealth are known as
factors of production.
Entrepreneurs weigh the differences between the benefits of starting a
business and those things that they are likely to forego because they choose
to work for themselves. Such things they are likely to pass up on are
employer-paid benefits such as paid vacation and health insurance.
Businesses collect __________ information on where people live, what they
buy, and how they spend their time.
demographic
Today's businesses attempt to meet the needs of
all stakeholders.
__________ is the amount a business earns after deducting what it spends
for salaries and other expenses.
Profit
In today's competitive environment, successful businesses are keenly
focused on their
Customers
Diversity is more than recruiting and keeping minority and female
employees. Diversity means appreciating and understanding other
differences in our customers and in our workforce. The best description of
these differences is
people with disabilities, people with different sexual orientations, religious
preferences, and even personality differences such as extroverts and
introverts.
Often in business the greater the risk, the
,greater the potential reward.
__________ is illegally obtaining and illegally using private information
about a person, such as using someone's credit card number.
Identity Theft
What is the best example of a business whose goal is to earn a profit?
Amazon
Which statement explains how people working in their own self-interest
produce goods, services, and wealth for others?
In order to earn money and produce goods that improve lives, self-directed
gain ultimately provides jobs, and subsequently wages for others.
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
resource development.
Both socialism and communism are variations of
command economies.
__________ unemployment refers to persons who purposefully quit their
jobs and have not yet found a new job.
Frictional
__________ is the study of how a society employs its limited resources to
produce goods and services and how it distributes them among competing
groups and individuals.
Economics
In a free-market economic system, __________ is the key determinant used
to signal to producers what to produce and how much to produce.
Price
Communist values are disappearing because
food and other product shortages overwhelm citizens since the government
must guess what citizens need.
Which statement about capitalism is the most accurate?
Capitalism is characterized by unequal distribution of wealth and income.
, A benefit of a free market can be that
businesses provide customers with quality products at fair prices.
Economist Thomas Malthus believed that __________ would limit
economic progress.
overpopulation
Fiscal policy involves increases or decreases in
government spending and taxes.
Communism is an economic system in which
the government makes almost all the major economic decisions.
__________ unemployment refers to unemployment caused by the
restructuring of firms or by a mismatch between the skills of job seekers
and the requirements of available jobs.
Structural
Contemporary governments promote business development by
establishing a currency that is tradable in world markets.
A basic difference between goals and objectives is that goals are
concerned with broad, long-term accomplishments, while objectives focus
on specific short-term details.
_________ is the management function that involves setting goals,
strategies, and tactics for achieving the organization's goals and objectives.
Planning
__________ skills involve a manager's ability to picture the organization as
a whole and the relationships among its various parts.
Conceptual
Leadership, coaching, and morale building are all part of a manager's
__________ skills.
Human Relations
The first step in the rational decision-making model is to
Define the situation
Middle managers are responsible for
