General Business 1st Semester Exam

Soft skills refer to personality traits and personal abilities

Federal law mandates that all companies employing more than 500 workers offer pension plans

Good leaders manage others by leaving them alone

Every type of business needs labor resource to produce goods and provide services

Which statement is most true

Resources are those things necessary for making only what people need

Today’s leadership trend is toward

The average person only sees a few advertisements every day

A multi-channel retailer sells its products

All of the following are transfer payments except

The use of self managed team approached started in the US right after WWI

An example of a public want is a family wanting a new car

An advantage of e-tail is that the consumer rarely has to pay shipping charges or sales taxes

Demographics do not include

A self managed team works best when members

The cost of all Internet advertising is the same as the potential for the size of the audience cannot be measured

Managing human resources is the same as supervising workers

Savings and loans are financial institutions that

A small business as defined by the SBA serves a limited geographic area and employees no more than 100 people

Credit Union costumers are aka members

The primary way banks generate profit is by repossessing cars and foreclosing in homes

An effective manager is someone who

In a command economy

If the value of the US dollar goes up compared with the euro,

Even people with work experience need to adjust to new jobs

Human Resources managers often work as recruiters

To evaluate customer acceptance once the product is introduced marketers track customers and the responses to it

Business etiquette

A medium of exchange is

Different cultures, businesses, and industries have the same ethical standards for uniformity in international commerce

Middle managers are often responsible for only one department in a business

Income from a corporation is taxed twice

Resources are items used to make and provide goods and services

Trade disputes occur when

Processed goods include all of the following except

There are three main types of business organizations are sole proprietorships partnerships and corporations

The following are examples of conflicts of interest except

Television is the main advertising medium in the US

Magazine ads have a longer life than newspaper ads

Every society has enough productive resources to produce everything people want and need

TV audience measurement is collected by

Leadership is no more that giving orders to your subordinates

Keeping in accurate accounting records is

Business ethics focus on decisions considered good or bad, correct or incorrect

The Internet has created a demand for

Good leader ship is only needed in the business world

Managers are usually task oriented

you need to do market research to see if there is a demand for your product or service

owning a partnership gets banks more willing to lend money to partnerships then to sole proprietorships

Companies tend to thrive when they have diversity

Worker protection laws

Government is the largest provider of services in the country

To reach customers advertising uses a set format that is defined in terms of time or space

Marketing a CD requires the same strategy as marketing diamond earrings

There 10 essential parts of a business plan

Companies sometimes test applications to see

In a market economy a country’s economic health depends on business doing well

The ADA requires that employers make any and all accommodations necessary for a qualified person w/ a disability

In some cultures, excessive gift giving in business is looked over and considered ethical

Business is often called their stores in warehousesbrick and mortar

Since the 1970s, world trade has decreased due to nations becoming more self sufficient

To avoid failure, a business can modify.

A disadvantage to line authority is that it can lead to over staffing, which can be costly

The Triangle Shirtwaist Factory fire resulted in

A more diverse population means

About half of all businesses in the US are sole proprietorships

About 20% of savings and loan associations failed in the late 1980s

An example of involuntary separating is

Bartering is the preferred method of exchange because you immediately have an item that you want

The US had experienced two major economic shifts

Business conducted in the Internet is called a virtual business

Most people have unlimited wants for goods and services

Two basic types of economic systems are a market economy and a demand economy

Unethical treatment of employees includes all of the following except

A virtual business acts like a business, but it is not a real business