Principles of Business: Test Review Objectives 2.03-2.05

Question 1

Which act limits working hours & jobs minors can do, setsminimum wage, & overtime compensation?

Accepted Answer

Fair Labor Standards Act

Question 2

What is the name of the private network used to share information WITHIN abusiness?

Accepted Answer

Intranet

Question 3

Duty of a businessto contribute to the well-being of a community is ?

Accepted Answer

Social Responsibility

Question 4

What department provides information about employees’ salaries, benefits and evaluations?

Accepted Answer

Human Resources

Question 5

Managing the receiving, moving, andstoring of supplies, materials, and finished products is?

Accepted Answer

Logistics

Question 6

Enforceable contracts must have agreement, competent parties, ___________, and legality.

Accepted Answer

Considerations

Question 7

A detailed account of acompany’s materials, supplies and finished product is?

Accepted Answer

Inventory

Question 8

When workers use computers off-site (at home) to do a job,saving travel time and costs, it is ?

Accepted Answer

Telecommuting

Question 9

Which is the best example of a monopoly?

Accepted Answer

Public Utility

Question 10

Which of the following is considered a non-renewable resource?

Accepted Answer

Oil

Question 11

What technology shares information regarding schedules, demand, production, inventory, & cost?

Accepted Answer

Management Information System

Question 12

If facilities and personnel cost $100,000 out of $1,000,000, what is my operating budget?

Accepted Answer

10%

Question 13

Robotic automation occurs mainly with what type of manufacturing?

Accepted Answer

Mass Production

Question 14

Obtaining productsfrom nature or using natural resources to grow is known as?

Accepted Answer

Cultivation

Question 15

What kind of research creates studies to discover newsolutions to problems?

Accepted Answer

Pure

Question 16

The exclusiveright of an inventor to make, use, or sell a product or process for 17 years is ?

Accepted Answer

Patent

Question 17

If Ford Motor Company purchases parts from a supply manufacturer, this is which e-commerce?

Accepted Answer

B2B: Business-to-Business

Question 18

Making an ongoing effort to improvemanufacturing processes to increase the quality of work is ?

Accepted Answer

Continuous Process Improvement

Question 19

Cable was specifically made for the Golden Gate Bridge. Which manufacturing was performed?

Accepted Answer

Custom Manufacturing

Question 20

Which government agency would be concerned with unsafe equipment or carpal tunnel syndrome?

Accepted Answer

OSHA--Occupational Safety and Health Administration

Questions 20