Introduction to Business Final Exam Review

Question 1

In a __________ economy, the decisions are made by individuals with no government influence

Accepted Answer

Market

Question 2

A patent is for how long?

Accepted Answer

20 yrs

Question 3

The ability to influence someone based on being the boss is considered ________ influence

Accepted Answer

Position

Question 4

Productivity is the quantity of a good that an average ___ can produce in an hour

Accepted Answer

Worker

Question 5

What is the term for a general increase in prices

Accepted Answer

Inflation

Question 6

Which planet is closest to the sun?

Accepted Answer

Mercury

Question 7

which NFL team has won the most Super Bowls?

Accepted Answer

Pittsburgh

Question 8

Which Sesame Street character lives in a trash can?

Accepted Answer

Oscar

Question 9

Eliminating trade for mostly political reasons is known as a

Accepted Answer

Embargo

Question 10

Which is not an actual type of budget used by a business

Accepted Answer

Profit-sharing

Question 11

Who is the richest person in America?

Accepted Answer

Bill Gates

Question 12

Which barrier to trade involves taxes?

Accepted Answer

Tarrifs

Question 13

What Chicago Museum is shown below

Accepted Answer

Adler Planetarium

Question 14

Which of the following is not part of the business cycle

Accepted Answer

Sloping

Question 15

Trading between states is called

Accepted Answer

Interstate Commerce

Question 16

Which type of distribution involves selling your products through another company?

Accepted Answer

Indirect

Question 17

Movie Trivia: My name is Clay, Bill Clay

Accepted Answer

Die Hard

Question 18

Movie Trivia: Lieutenant Dan!

Accepted Answer

Forrest Gump

Question 19

What is the largest state in the US?

Accepted Answer

Alaska

Question 20

Which are things that a company owns

Accepted Answer

Assets

Question 21

The principle of ____ states there are limited resources for unlimited needs and wants

Accepted Answer

Scarcity

Question 22

When another company owes you money, that is called an

Accepted Answer

Account Receivable

Question 23

What is the lowest prime number?

Accepted Answer

2

Question 24

A copyright is for how long?

Accepted Answer

life + 70 yrs

Question 25

What is the accounting equation if A=Assets, L=Liabilities, O=Owner's Equity

Accepted Answer

A=L + O

Question 26

A small number of companies controlling an industry is a(n)

Accepted Answer

Oligopoly

Question 27

The Vision statement gives the purpose of a company and the Mission gives the goals

Accepted Answer

True

Question 28

Which country has won the most world cups?

Accepted Answer

Brazil

Question 29

Which of the following is NOT one of the 4 P's of marketing

Accepted Answer

Position

Question 30

What is the correct way to spell the term of owning and operating your own business?

Accepted Answer

Entrepreneurship

Question 31

The total dollar value of all final goods and services produced in a country is the

Accepted Answer

GDP

Question 32

Which celebrity has the most Twitter followers?

Accepted Answer

Katy Perry

Question 33

Movie Trivia: I never want to go back in the water

Accepted Answer

Jaws

Question 34

How do you determine Gross Domestic Product per capita?

Accepted Answer

GDP/total population

Question 35

Which business is owned and operated by 1 person

Accepted Answer

Sole Proprietorship

Question 36

How many curves does a standard paper clip have?

Accepted Answer

3

Question 37

Which is the largest ocean in the world?

Accepted Answer

Pacific

Introduction to Business Final Exam Review

Questions 37

Introduction to Business Final Exam Review

Questions 37