Intro to Business Unit Test - Chapters 7, 8, 10 Quiz

Question 1

T or F: In a centralized organization, authority is given to a number of different managers

Accepted Answer

False

Question 2

Which value is most highly valued in leaders?

Accepted Answer

Integrity

Question 3

__: the difference in value between a country's imports and exports over a period of time

Accepted Answer

Balance of trade

Question 4

In the __ leadership style, leaders set goals for managers & employees, then leave them to work

Accepted Answer

free-rein

Question 5

__ is a limit placed on the quantities of a product that can be imported

Accepted Answer

Quota

Question 6

T or F: in a self-managed team, the manager's role is replaced with the team leader's role.

Accepted Answer

True

Question 7

Which of these isn't important for leaders to know?

Accepted Answer

All are important to know

Question 8

___: goods and services brought into a country; ___: goods or services sold to another country

Accepted Answer

Imports; exports

Question 9

Which element of management includes creating goals & objectives & the strategies to meet them?

Accepted Answer

Planning

Question 10

Which is not an advantage of being a manager?

Accepted Answer

Responsibility if things go wrong

Question 11

The process or functions of planning, organizing, leading and controlling

Accepted Answer

management

Question 12

The __ is the price at which one currency can buy another currency

Accepted Answer

exchange rate

Question 13

__: the interconnected economies of nations

Accepted Answer

Global economy

Question 14

__ means adhering to a code of ethical values such as honesty, loyalty, and fairness.

Accepted Answer

Integrity

Question 15

Which organizational structure is more likely to have written organizational charts?

Accepted Answer

Formal

Question 16

Which of these is false?

Accepted Answer

In self-managed teams, leader role is replaced by manager's

Question 17

Which element of management helps keep the company on track and make sure goals are met?

Accepted Answer

Controlling

Question 18

What is departmentalization?

Accepted Answer

Dividing responsibility among specific units

Question 19

Which management function relates to obtaining & coordinating resources so objectives are met?

Accepted Answer

Organizing

Question 20

Which organization type is more common in large businesses than in small?

Accepted Answer

Formal

Question 21

Which business type is most flexible?

Accepted Answer

Informal

Question 22

Which element of management provides direction and vision to the organization?

Accepted Answer

Leading

Question 23

What do you do when you assign tasks to other people, allowing you to work on other things?

Accepted Answer

delegate

Question 24

Which element of management gets the resources arranged to accomplish goals and objectives?

Accepted Answer

Organizing

Question 25

Which manager is responsible for the daily operations of the business?

Accepted Answer

operational manager

Question 26

__: the CEO of the organization

Accepted Answer

Top-level manager

Question 27

Which of these is true?

Accepted Answer

Integrity means adhering to a code of ethical values

Question 28

___: adhering to a code of ethical values such as honesty, loyalty, and fairness

Accepted Answer

Integrity

Question 29

Which is an advantage of a self-managed team?

Accepted Answer

members can learn others' jobs and obtain new skills

Question 30

In a __ leadership style, everyone meets, discusses, and listens to others' opinions.

Accepted Answer

democratic

Question 31

departmentalization is a(n) __ type of structure usually found in __ companies.

Accepted Answer

formal, large

Question 32

Which is not a function of management?

Accepted Answer

Managing

Question 33

__ means taking a company and its employees in a direction based on a vision.

Accepted Answer

Leadership

Question 34

__ is a tax placed on imports to increase their price in the domestic market.

Accepted Answer

Tariff

Question 35

T or F: the purpose of management is to set and meet goals effectively so the business makes $

Accepted Answer

True

Question 36

Which of the following is not a characteristic of motivation?

Accepted Answer

All are characteristics of motivation

Question 37

Yen, pesos, and dollars are examples of __.

Accepted Answer

currency

Question 38

Who are the highest paid managers in a corporation?

Accepted Answer

top-level managers

Question 39

A(n) __ is a ban on the import or export of a product.

Accepted Answer

Embargo

Intro to Business Unit Test - Chapters 7, 8, 10 Quiz

Questions 39

Intro to Business Unit Test - Chapters 7, 8, 10 Quiz

Questions 39