stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Intro to Business 111 Flashcards | StudBud
Explore
/
Intro to Business 111
Intro to Business 111
75 terms
·
StudBud Administration
·
58 plays
Questions from Chapters 1 - 10
Flashcards
75 cards
F
Practice quiz
P
Host live
L
Questions
75
Answers
1
Which of the following workers would be the best example of a contingent worker?
A full time engineer traveling out of country.
assembly-line worker who belongs to a union
an elementary school teacher who just received tenure
an accountant hired to help during the busy tax season
2
Laws represent the standards of ________ behavior.
legal
ethical
moral
socially responsible
3
Which of the following goals best describes today's view of the organizing function? Organizing today focuses on:
simplifying the process of measuring outcomes related to performance stds.
achieving unified opinions from a diversified workforce.
designing the organization around the customer.
developing the most efficient strategic plans for the firm.
4
U.S. businesses are known for their creativity and their ability to implement change.
False
True
5
Generation X employees are likely to:
be poor at providing feedback to others.
lack the drive and ambition of earlier generations.
be less willing to move and change jobs.
more concerned with career security than with job security.
6
The largest importer in the global market today is:
Germany.
United States.
Russia.
Japan.
7
The first step toward establishing open communication within an organization is to
create a clear chain of command like those found in military organizations.
create an organizational culture that rewards listening.
place suggestion boxes in every department.
set up a computer network.
8
workers have a higher skill level than their current job requires.
Frictionally unemployed
Underemployed
Structurally unemployed
Contingent
9
Enterprise zones are specific geographic areas that:
are characterized by government ownership of small businesses.
the gov't has recognized as having the fastest growth rates in the country
the gov't has set aside for corps that promise to spend $10m to create jobs
attract biz investment by offering lower taxes & gov't support for developm
10
One advantage of free trade is:
service jobs are moved overseas.
innovation for new products occurs which keeps firms competitive.
jobs are shifted to low-wage global markets.
advanced production operations are built in low-wage countries.
11
A __________ is an overall explanation of why an organization exists and where it is trying to head.
prime directive
corporate charter
vision
tactical plan
12
___________ are broad, long-term accomplishments an organization wants to achieve.
Opportunity targets
Directives
Objectives
Mission complements
13
Many individuals today believe that ethical behavior is determined by what is best for them at the time. This example is
moral absolutes.
situational ethics.
the Golden Rule.
new age realism.
14
Ethical behavior covers a _________________ range of conduct than legal behavior.
more limited
wider
smaller
less demanding
15
Shadowing is another term used to refer to
vestibule training
role playing
job rotation
on-the-job training
16
Which of the following would be a topic emphasized in a microeconomics class?
The reasons why the unemployment rate for the economy is rising or falling.
How the government uses fiscal & monetary policies to stabilize the economy
How a nation's GDP is computed.
How market conditions determine the price of a specific product.
17
Which of the following questions will help individuals and organizations when deciding if their decisions are ethical?
Can I do this without getting caught?
Is it balanced?
Is there a desirable alternative?
Has it been done before?
18
An ethical dilemma refers to a situation where you must:
choose between equally unsatisfactory alternatives.
choose between a correct and an incorrect option.
balance the concerns of profit and legality.
treat someone unfairly.
19
The concept of "reasonable accommodations" means that all workers should be treated in the same manner
True
False
20
Which of the following is an example of a move to reorganize?
Revising plans by creating contingency plans
Reducing the labor force within your business
Developing a way to monitor financial success
Managing by objectives and clearing pathways for success
21
The
Spotlight on Small Business box
"Earning While Learning" features students who
turned a passion into a business opportunity.
convinced banks to fund their business ideas.
directed inheritance money they received into profitable business ventures.
realized the American dream at a very young age, & now run $$multimillion
22
Today, human resource management has become so important that in many firms it has become:
handled only by specialists in the human resource department
the sole responsibility of the firm's legal staff
performed by managers in all areas of the organization
handled only by the firm's top management
23
A favorable balance of trade occurs when the value of:
the cash inflows equals the value of the cash outflows.
imports is less than the value of exports.
the dollar is greater than the value of the euro.
imports equals the value of exports.
24
6. Theory ___ managers see employees as having a general dislike for work and an unwillingness to accept responsibility.
Z
X
Y
A
25
Theory Y managers assume that...
people love to work and could be responsible on their own
workers act irresponsibly
people need instructions all the time
you rather be led than lead
26
The Hawthorne studies were conducted by __________ and his colleagues from Harvard University.
Henry Gantt
Peter Drucker
Elton Mayo
John Hawthorne
27
The most important difference between for-profit businesses and nonprofit organizations is that:
businesses do not benefit society.
nonprofit organizations seek to make a profit for its owners and organizers
nonprofit organizations do not file tax returns.
nonprofit organizations do not seek a profit for its owners or organizers.
28
When a sole proprietor dies:
the sole proprietor's heirs have the option of taking over the business.
the business is sold to a larger corporation.
the company always closes down.
the company continues to function as it always has.
29
A business incurs a ___________ if its costs and expenses exceed its revenues.
debit
loss
liability
dividend
30
Which of the following statements would a follower of Adam Smith most likely make?
If people are free to follow their own interests it may lead to econ growth
Market economies are flawed because they put too much emphasis on econ grow
Overpopulation is the main danger confronting modern economies.
The fed gov't should use its ability to spend & tax to guide biz & consume
31
Promotions and transfers are what type of sources available in recruiting efforts?
internal
passive
external
redundant
32
Under the Family Medical Leave Act
G. Employee gets time off to care for newborn child
H. Employee gets time off due to airline delays
J. Employee has assignment to different work location
F. Employee gets time off for college degree
33
The amount of goods and services people can buy with the money they have is called their:
consumer price index
profit margin
nominal income
standard of living
34
The __________ is the most common form of business ownership.
sole proprietorship
partnership
corporation
joint venture
35
Entrepreneurship is:
managing businesses for others.
accepting the risk of starting and running a business.
managing businesses that operate in multiple countries.
a controlling interest in the ownership of a corporation.
36
The practice of moving employees from one job to another to make work more interesting
worker alternation
job incrementation
task mobility
job rotation
37
___ used the terms theory x and y to describe different attitudes managers had about employees
Elton Mayo
Victor Croom
Robert Colby
Douglas McGregor
38
According to Herzberg, a sense of achievement, earned recognition, and interest in the work itself were all:
consistent with his Theory X approach to motivation.
ways for workers to meet their social needs.
important motivators.
hygiene factors.
39
CareerBuilder and Monster are examples of:
career interest surveys
web browsers
online firms can use to recruit employees
magazines that list job opportunities by skill requirements.
40
Purposefully understating your firm's income to avoid paying higher taxes is an example of:
illegal behavior.
a firm's responsibility to its owners.
tax accountants doing their job.
an accepted business practice.
41
Considering the potential impact on others prior to making a decision is consistent with ________ behavior.
legal
anti-social
ethical
self-motivated
42
A successful web-based strategy that helps a business spread the word about its website and products is called _________
"it’s all about the buzz."
affiliate marketing.
wildfire marketing.
social marketing.
43
Organizing a business begins with:
acquiring the necessary resources.
choosing the best qualified employees.
determining the work to be done.
developing an efficient plan of action.
44
__________ is the chance a biz owner will lose the time and money invested in a business that proves to be unprofitable
Redundancy
Depreciation
Risk
Fallibility
45
Which of the following questions can help us avoid a decision that would injure our self-esteem?
How will it make me feel about myself?
How can I avoid taking the blame?
Is it legal?
Is it balanced?
46
Baby Boomers as managers need to understand that:
Gen Xers are motivated by knowing they can keep their jobs
Gen X and Gen Y employees will be motivated by flexibility.
Gen X and Y employees motivated by a good deal of structure
Millennials are motivated from with in, Xers need rewards.
47
Strategic planning looks at the organization as a whole, while ________ planning focuses on daily tasks and decisions.
tactical
operational
strategic
mission
48
Today's workers have an increased demand for benefits tailored to their individual needs.
True
False
49
What is the first step in the planning process?
develop an action plan
Gather information using a SWOT analysis
Establish a goal or objective
Evaluation
50
Economics is the study of how a society _________________.
governs itself for the good of its citizens.
employs statistical techniques to make predictions about societys evolution
invests wisely in the stock market.
employs resources to produce goods & services and distribute them.
51
The theory of comparative advantage exists because:
customers are always comparing the quality of service from companies.
free-trade agreements became the trend during the past 15 years.
there are too many products and services to choose from today.
no nation can produce all the products its people want and need.
52
Carrie, a U.S. resident, says that her home computer was made in Japan. Carrie purchased a(n):
generic good.
exported item.
protected good.
imported item.
53
Dividing the required work among a group of employees is called:
departmentalization.
division of labor.
delegation of responsibility.
separation of control.
54
____________ comprise about 20% of all businesses but account for about 81% of U.S. business receipts.
Sole proprietorships
Limited liability companies
Partnerships
Corporations
55
The U.S. is still manufacturing intensive. Only 25% of U.S. jobs come from the service sector.
False
True
56
As a group, Millennials tend to be:
inefficient, easily bored, and uncommitted.
less interested in technology than Baby Boomers.
adaptable, tolerant, and tech savvy.
older and more mature than Gen Xers.
57
Business owners who prefer to maintain their businesses at a manageable size are called:
home workers
intrapreneurs
micropreneurs
macropreneurs
58
_______ was the father of scientific management.
Peter Drucker
Frank Gilbreth
Frederick Taylor
Abraham Maslow
59
The Civil Rights Act of 1964 did not do enough to discourage discriminatory practices in the workplace.
False
True
60
The economic & political system in which the government owns almost all the major factors of production is called:
socialism.
communism.
ethnocentrism.
capitalism.
61
Dividing tasks into smaller jobs is called:
job enrichment.
departmentalization.
job specialization.
division of authority.
62
The ultimate resource of a firm is its:
business plan
marketing mix
capital budget
employees
63
In a partnership a __________ partner actively manages the company & has unlimited liability for claims against the firm
limited
associate
general
unlimited
64
Today's workers place a lower priority on leisure time than they did in the past.
True
False
65
A major benefit of socialism is the:
emphasis on private enterprise instead of public ownership.
ability to stimulate rapid economic growth.
emphasis on social equality.
ability to keep taxes low.
66
____________ is the selling of products to another country.
Dumping
Importing
In-trading
Exporting
67
Which of the following U.S. issues does entrepreneurship most directly affect?
The ability to influence national macroeconomics polices
The political process
The ability to create jobs for others
Contributions of money to organizations that help people in need
68
Which of the following is an advantage of a partnership?
Shared management and pooled skills
Ease of starting and ending the business
Little time commitment
Unlimited liability
69
Term refers to natural, self-given rewards that include a sense of pride and accomplishment when a job is well done:
ERG theory
Intrinsic reward
Equity theory
Extrinsic reward
70
To many businesspeople, one of the major attractions of a sole proprietorship is:
the chance to be their own boss.
the protection of limited liability.
the ability to obtain additional financial resources.
an unlimited lifespan.
71
Reprimands, pay reductions, and suspensions are all examples of:
negative reinforcement.
equity adjustments.
shock therapy tactics.
hygiene factors.
72
An owner of a corporation is known as a(n:
limited partner.
general partner.
director.
stockholder.
73
Computer-integrated manufacturing is used to
design and manage all manufacturing systems
coordinate marketing activities
design and test products
manage new product research
74
Which of the following is a characteristic of successful entrepreneurs?
Relies heavily on others who believe in the business
Power-seeking
Action-oriented
Willingness and desire to follow others
75
Concept that a hierarchy of human needs could be used to explain motivation was developed by:
Douglas McGregor
Frederick Herzberg
Abraham Maslow
Frederick Taylor