Home Library Explore SAT

Home Library Explore SAT

BBI2O1 Chapter 5 Exam Review Flashcards | StudBud

Explore/BBI2O1 Chapter 5 Exam Review

What can businesses do to save money on labour?

People that control the factors of production are called…

BBI2O1 Chapter 5 Exam Review

12 terms·StudBud Administration·81 plays

#business

Flashcards12 cardsFPractice quizPHost liveL

Questions 12

Answers

1
People that control the factors of production are called…
Management
Processors
Quality Control
Labour
2
What can businesses do to save money on labour?
Automation
All of the above
Consolidation
Outsourcing
3
Products that have slight defects are sold as...
all of the above
Hand me downs
Seconds
Thirds
4
When purchasing raw materials, the purchasing department want to buythe cheapest thing possible
false
true
5
What should be considered in the purchasing task?
Taxes, shipping, quantity
Quality, price, hidden costs
Efficiency, price, quality
6
What is true about liquid capital?
All of the above
Easily exchangeable
Easily received
Easily accessed
7
A __system allows business to have goods it needs, where it needs them & when they needs them
investment
Management
Training
Just in time
8
In business, consolidation occurs when…
Companies hire another company to perform task
Labour is done by machines
Something is made physically stronger or more solid
Companies centralize the work in one major site.
9
Labour is…
Physical work
An expensive cost of business
Mental work
All of the above
10
Management controls the company’s resource
True
False
11
What is the correct order for the process of production?
Purchasing, processing, grading, quality control
Purchasing, grading, quality control, processing
Purchasing, quality control, grading, processing
Purchasing, processing, quality control, grading
12
What does ISO stand for?
Internal Standards Organization
International Standardization of Organization
International Organization of Standardization
Illinos’s Secret Oranges