Intro to Business Ch 1-9

Question 1

Generally, you should try to limit your resume to

Accepted Answer

one page

Question 2

Which major category of business is the fastest-growing in the U.S. economy?

Accepted Answer

service business

Question 3

Goods and services sold to other countries are called

Accepted Answer

exports

Question 4

It's possible for the US to have a trade surplus with a country and a trade deficit with another

Accepted Answer

True

Question 5

The rivalry among businesses to sell their goods and services is known as

Accepted Answer

competition

Question 6

management functions involves analyzing information, setting goals, and making decisions

Accepted Answer

planning

Question 7

best way to tell an employer you are leaving your job is a short, polite letter of resignation

Accepted Answer

True

Question 8

Who owns the economic resources in a market economy?

Accepted Answer

the people of the country

Question 9

Jonah decided to buy a new shirt instead of going to the amusement park with his friends. He has

Accepted Answer

made an economic trade-off.

Question 10

When a large business opens in an area, other businesses often will locate there to support it

Accepted Answer

True

Question 11

The major challenge today involves learning how to manage a workforce with diverse cultures

Accepted Answer

True

Question 12

Small businesses have an advantage over big businesses when customers

Accepted Answer

want more individual attention.

Question 13

If you leave your job, try to tell your employer at least ____ in advance.

Accepted Answer

two weeks

Question 14

Dividing GDP by the total population of a country results in that country’s

Accepted Answer

GDP per capita.

Question 15

The basic economic problem results from not having enough resources to satisfy every need

Accepted Answer

True

Question 16

____ are principles of morality or rules of conduct

Accepted Answer

Ethics

Question 17

The most effective leaders treat everyone alike

Accepted Answer

False

Question 18

Managers who involve employees in decision-making find that better decisions are made

Accepted Answer

True

Question 19

The largest source of revenue for the federal government is the

Accepted Answer

individual income tax.

Question 20

Which of the following is a copyright symbol?

Accepted Answer

(C)

Question 21

assignment of an employee to another job in the company with a similar level of responsibility

Accepted Answer

transfer.

Question 22

It is best to postpone career planning until after you have begun full-time work

Accepted Answer

False

Question 23

Top management has little impact on the ethical conduct of a business.(

Accepted Answer

False

Question 24

In the United States, nearly as many small businesses close as begin each year.

Accepted Answer

True

Question 25

All of the following are blue-collar workers EXCEPT

Accepted Answer

accountant.

Question 26

Which question should you NOT ask yourself when considering the ethics of a business situation?

Accepted Answer

Can I get away with this action?

Question 27

Which of the following is one of the service-providing industries?

Accepted Answer

real estate

Question 28

Buildings, equipment, and supplies are examples of natural resource

Accepted Answer

False

Question 29

The process of talking to other people about their jobs is called

Accepted Answer

networking

Question 30

In the U.S. workforce, white-collar workers are more important than blue-collar workers

Accepted Answer

False

Question 31

Goods

Accepted Answer

are things you can see and touch.

Question 32

Economic growth refers to a steady increase in the production of goods and services in an

Accepted Answer

True

Question 33

Kimberly’s employees support her because they like her. This is an example of

Accepted Answer

identity influence.

Question 34

Employees at the first level of management in a business are

Accepted Answer

supervisors.

Question 35

The difference between a country’s total exports and total imports is called the

Accepted Answer

balance of trade.

Question 36

John, a customer service manager, has sent a memo to Brianne, one of his employees. This is..

Accepted Answer

vertical communication.

Question 37

____________________ occurs at the peak of the business cycle.

Accepted Answer

Prosperity

Question 38

Mikayla is a 14-year-old. She would not be considered part of the labor force in the US

Accepted Answer

True

Question 39

People producing goods and services are called

Accepted Answer

human resources.

Question 40

The major influence on the level of interest rates is

Accepted Answer

the supply and demand for money.

Question 41

Things that are required in order to live are known as wants.

Accepted Answer

False

Question 42

All businesses make products

Accepted Answer

False

Question 43

Management is the ability to motivate individuals and groups to accomplish goals

Accepted Answer

False

Question 44

Most of the money needed to start a new business comes from

Accepted Answer

the entrepreneur and his/her family and friends.

Question 45

Once a business plan is written, it should never be revised and should never be updated

Accepted Answer

False

Question 46

Without foreign trade, all of the items you buy would cost less,

Accepted Answer

False

Intro to Business Ch 1-9

Questions 46

Intro to Business Ch 1-9

Questions 46