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BBI2O Really Super Hard Quiz Flashcards | StudBud
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BBI2O Really Super Hard Quiz
BBI2O Really Super Hard Quiz
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#BBI2O #Business Intro to Business Studies
Flashcards
68 cards
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Practice quiz
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Host live
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Questions
68
Answers
1
A business where a board of directors makes the important decisions for the company is a
Sole Proprietorship
Partnership
Corporation
Franchise
2
Using company money for inappropriate reasons is called
Misuse of Monetization
Misuse of Funds
Mistrust of Funds
Mistrust of Monetization
3
Selfie sticks are a
Trend
Service
Fad
Monopoly
4
A group of business that all produce similar products and/or services is known as ...
Franchise
Monopolization
Retail
Industry
5
Which of the following will increase a company's production
Putting a limit to the number of hours employees can work
Fire some employees
Giving employees more breaks
Buying more efficient machinery
6
Edward Snowden ...
Spied on USA for Russia
Is Mr. G's identity before he was put in witness protection
Was a whistle blower for the NSA
Started WikiLeaks
7
This is likely a graph for a
Trend
Fad
8
During which stage of the PLC does the company experience highest profit?
Growth
Introduction
Maturity
Decline
9
The desire to stay home and protect yourself from the outside world is..
Egonomics
Cocooning
Clanning
DIY
10
Law of Demand states: The ____ the price of the product, the ____ the less the consumer demands
lower, more
higher, less
higher, more
lower, less
11
Looking for ways to make personal statements (ex. getting plastic surgery) is...
DIY
Egonomics
Clanning
Cocooning
12
PLC stands for...
Profit/Loss Calculation
Product Life Cycle
Profit Loss Cycle
Pretty Large Candybar
13
Which of the following must a business consider against its profit
environmental responsibility
anti-discrimination issues
all of the above
workplace safety
14
The amount of a good or service customers want to purchase is...
Real estate
Supply
Stock
Demand
15
The 4 stages of the PLC are...
Research, Development, Introduction, Obsolescence
Introduction, Maturity, Decline, Resurgence
Development, Introduction, Maturity, Decline
Introduction, Growth, Maturity, Decline
16
Which of the following industries employs the least Canadians?
Primary and Secondary
Primary and Tertiary
Tertiary alone
Secondary and Tertiary
17
Pokemon Go is a
Trend
Monopoly
Fad
Service
18
A business with only
one
owner is called
Partnership
Sole Proprietorship
Corporation
Franchise
19
There are absolutely correct and incorrect decisions in terms of business ethics
True
I don't know what business ethics is...
False
What do you mean "absolutely correct"
20
A set of moral principles that a business applies to be able to "do the right thing" is...
Social Responsibility
Moral obligation
Ethics
Business ethics
21
Consumer have an influence on
The production methods and standards of a product
All of the above
Price
Products
22
Which of the following is an advantage for a sole proprietorship?
Guaranteed and recognized standard of quality products
All profits belong to the owner
Thousands of shareholders
Owned by the government
23
The amount of a good or service available for customers to purchase is...
Stock
Supply
Demand
Real estate
24
A niche market is a
A specialized group of consumers
Bicyclists
Bunch of nice consumers
A market in the French city of Nice
25
Ok. Time for another break. I promise this one will be easier though. Are you ready this time?
This is the correct answer...Trust me... Would I lie?
No
Yes
Pick This Option for Points!
26
Whistle blowing is when you tell your boss about an unethical behaviour in the company
True
False
27
"Discriminatory hiring practice" is when
Acting upon prejudice when hiring
Someone is not hired base on the prejudice of the employer
Someone is hired based on their gender
Someone is not hired based on something about them.
28
What are the 4 factors of production?
Employees, Labour, Capital, Management
Natural resources, Labour, Capital, Management
Natural resources, Research, Capital, Management
Natural resources, Labour, Capital, Money
29
Which industry has benefited the most from major technological advancement?
Primary
More than one of the above
Secondary
Tertiary
30
What is this point called?
Equal Point
Meeting Point
Crossing Point
Equilibrium Point
31
One last question...listen carefully (also pick the correct answer below)
Green is the best colour
Pick me for points!
This is the correct answer
Don't pick me
32
The Law of Supply states: The ____ the price of the product, the ____ the producer will supply
higher, less
higher, more
lower, more
lower, less
33
Pick the lowest section of Maslow's Hierarchy of Needs listed below?
Self-Actuarial
Safety
Love/Belonging
Physiological
34
Which of the following is responsible for the money management in the business?
Management
Production
Accounting
Communication
35
"Mr. Penguin Antarctic Coal Mining"is a _______ industry business?
Primary
Secondary
More than one of the above
Tertiary
36
An item that is produced by an organization is a ...
Need
Want
Product
Good
37
During which stage of the PLC would the price of the product potentially decrease?
Maturity
Introduction
Decline
Growth
38
Which of the following industries is Foxconn, the manufacturer of the iPhone associated with?
Primary
Secondary
More than one of the above
Tertiary
39
A process that is provided by an organization is a...
Need
Want
Service
Product
40
Which industry has the smallest chance for making a profit
Tertiary
Secondary
More than one of the above
Primary
41
Wanting to do things with your own two hands rather than paying for work to be done is...
Clanning
Egonomics
Cocooning
DIY
42
When a product is no longer wanted by consumers, it is referred to as
old
obsolete
retro
new
43
Which of the following industries is Walmart
associated
with?
Tertiary
Primary
More than one of the above
Secondary
44
This is likely a graph for a
Trend
Fad
45
At the equilibrium point, the price is just high enough that ...
quantity of people buying = quantity business wants to sell
quantity of people buying < quantity business wants to sell
the market will soon crash
quantity of people buying > quantity business wants to sell
46
Which of the following is an advantage for a corporation?
Guaranteed and recognized standard of quality products
Owned by the government
All profits belong to the owner
Thousands of shareholders
47
Corporations have a board of directors that make business decisions.
False
...umm, I guess? Maybe...
True
48
During the DECLINE stage of the PLC, which of the following will the company likely not do?
Reduce cost
Maintain product and add new features or re-brand
Discontinue the product and sell what's left at a low price
Increase production
49
Phew... That was tough. Let's take a break with an easy question. Are you ready?
No
I'M READY, I'M READY, I'M READY!
Yes
50
Which of the following is a
want
iPhone
Water
Food
Shelter
51
Revenue - profit =
Expenses or gain
Gain
Neither expenses nor gain
Expenses
52
Mr. G will explain this question, Car vs Dirt
Stay
It doesn't matter, it's 50/50
Switch
53
Trucks, to the Uhaul company, are a...
Service
Trend
Profit
Capital good
54
Brothers and sisters, I have none. But this man's father is my father's son.
Grandfather
Father
Son
Grandson
55
Which of the following is a niche market?
People living with disabilities
Elder people who need assistance
Professional gamers
Audiophiles
56
"Milana's Metal Mining Co." is what kind of business?
Secondary Industry Business
More than one of the above
Primary Industry Business
Tertiary Industry Business
57
During which stage of the PLC is marketing
arguably
most important?
Introduction
Growth
Decline
Maturity
58
A "good" is ...
Tangible but can't be touched
Intangible
an item that cannot be seen or touched
an item that can be seen or touched
59
To belong to a group, giving a person security and agreeing with one's beliefs is ...
Egonomics
Clanning
Cocooning
DIY
60
Which is the highest level of Maslow's theory?
Physiological
Philanthropic
Physiotheraputic
Psychological
61
Things that are not
required
for survival are called...
Needs
Wants
Physiological Desires
Food
62
Profit is
Total money earned after accounting for money spent
Profit after expenses
Expenses after profit
Money earned from selling product or service
63
During which stage of the PLC might the product get more features added on?
Maturity
Introduction
Decline
Growth
64
A trend is something that...
Never became popular
Is popular for a long period of time
Is popular for a while but the popularity fades quickly
65
the hat is...
Black
Neither. It's Green.
White
Impossible to determine
66
Which industry has the greatest labour force?
Primary
Tertiary
More than one of the above
Secondary
67
Which of the following is an advantage for a Franchise?
Thousands of shareholders
All profits belong to the owner
Owned by the government
Guaranteed and recognized standard of quality products
68
A business with two or more owners is called a
Partnership
Franchise
Corporation
Sole Proprietorship
