BUS100 Sample Exam 1
1. Which of the following organizations is an example of the goods-producing sector of the economy?
A. Ford Motor Company
B. Florida State University
C. Children's Hospital
D. H & R Block Tax Consulting
2. Which of the statements about demography is most accurate? Demographic studies:
A. focus on factors that have great political relevance, but little relevance to business firms. B. suggest that the number of two-income families will decline in the future. C. provide business and individuals with insights into business and career opportunities of the future. D. are an important source of information about changes in weather and climate.
3. Public schools, charities and government agencies are not classified as businesses because they:
A. have not been incorporated.
B. do not seek to earn a profit.
C. provide services rather than goods.
D. do not have any stockholders.
4. In order to make an intelligent investment decision, entrepreneurs should:
A. limit their options to those business investments that are backed by the U.S. government. B. invest in businesses that have generated a stable rate of profit for at least the past ten years. C. invest only in business opportunities where it is possible to take an active role in management. D. compare the risks of potential investments to their expected profits and find the right balance between profit and risk.
5. Which of the following entails the greatest amount of risk?
A. Working for the government.
B. Working for a large business.
C. Working for a small business.
D. Starting a business.
6. Which of the following policies would tend to foster entrepreneurship?
A. establishing a currency that is tradable on world markets. B. establishing more regulations to protect the environment. C. developing policies to reduce corruption between individuals. D. allowing public ownership of businesses.
7. When businesses sell to other businesses over the Internet, these transactions are known as:
A. B2C transactions.
B. e-wholesale transactions.
C. B2B transactions.
D. intermediate e-commerce transactions.
8. Which of the following is an advantage of utilizing technology?
A. Technology increases the cost of production.
B. Technology reduces the need for a marketing plan.
C. Productivity increases.
D. Management becomes isolated from the demands of stakeholders.
9. All around the world, countries are trying to create more wealth by:
A. raising taxes.
B. selling government-owned businesses to private individuals. C. restricting trade with other countries in order to protect local businesses. D. attempting to attain more gold through foreign trade.
10. ___________ means producing items with the least amount of resources.
11. In the nation of Equalia, many businesses are privately owned, but the government owns some of the basic businesses and has developed many social programs designed to promote social equality. The economy of Equalia would be considered an example of:
A. pure capitalism.
12. __________ unemployment refers to those people who have quite work because they didn't like the job, the boss, or the working conditions and who haven't yet found a new job.
13. One benefit of the rights and freedoms of capitalism is that:
A. people feel safe and don't take any risks in business.
B. people are willing to take more risks than they would otherwise. C. people don't have to choose where they will work.
D. the prices of needed products are always very low.
14. __________ unemployment refers to unemployment caused by the restructuring of firms or by a mismatch between the skills of job seekers and the...
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