Principles of Business 1

Which of the following is a benefit of being socially responsible?

Goods and services are owned by the people

Which type of business ownership is the largest in the United States?

An invention that is brand new

The way managers work with and involves employees is known as?

An economy in which the government has full control is

Businesses that offer the same goods to the same customers

Laws that prevent unfair business practices is known as?

Examples are sunlight, air, and water

Which of the following is NOT a human relations skill?

A government agency that helps small business owners

What is currency exchange rate?

Respecting the feelings/needs of the people they work with is considered which Leaderhsip Characteristic?

The way people get along with others is

Precise statement of the results a business expects to achieve

The ability to motivate individuals and groups to accomplish goals

A short specific statment of the reason a business exists and what it wants to achieve

Not having enough resources to satisfy every need

Which of the following is NOT a requirement for something to be a contract?

Goods/items sold to other countries

Economic system which freedom to consume and produce goods and services exists

When a country imports more than they export, they have a

Which of the following is NOT a good way to develop leadership skills?

The Small Business Administration (SBA)considers a business small if it employs fewer than

Business owned and run by just one person

The decision making process is best to use when you

A company’s CEO (Chief Executive Officer) is an example of a(n)_____

Things that are able to be seen and touched

What phase of the business cycle has the following characteristic:Unemployment begins to rise, demand begins to decrease

Which of the following is NOT one of the five functions of management?