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BBI2O Really Super Hard Quiz Flashcards | StudBud
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BBI2O Really Super Hard Quiz
BBI2O Really Super Hard Quiz
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#BBI2O #Business Intro to Business Studies
Flashcards
68 cards
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Practice quiz
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Host live
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Questions
68
Answers
1
Profit is
Total money earned after accounting for money spent
Profit after expenses
Money earned from selling product or service
Expenses after profit
2
An item that is produced by an organization is a ...
Want
Need
Product
Good
3
A group of business that all produce similar products and/or services is known as ...
Franchise
Industry
Monopolization
Retail
4
Which of the following is a
want
Shelter
Food
Water
iPhone
5
A business where a board of directors makes the important decisions for the company is a
Partnership
Sole Proprietorship
Corporation
Franchise
6
Looking for ways to make personal statements (ex. getting plastic surgery) is...
Cocooning
Egonomics
Clanning
DIY
7
Phew... That was tough. Let's take a break with an easy question. Are you ready?
Yes
No
I'M READY, I'M READY, I'M READY!
8
This is likely a graph for a
Fad
Trend
9
the hat is...
Black
White
Neither. It's Green.
Impossible to determine
10
A business with only
one
owner is called
Corporation
Partnership
Sole Proprietorship
Franchise
11
What are the 4 factors of production?
Natural resources, Labour, Capital, Management
Natural resources, Labour, Capital, Money
Natural resources, Research, Capital, Management
Employees, Labour, Capital, Management
12
Which industry has the greatest labour force?
Primary
Secondary
Tertiary
More than one of the above
13
Using company money for inappropriate reasons is called
Mistrust of Funds
Misuse of Monetization
Mistrust of Monetization
Misuse of Funds
14
PLC stands for...
Profit Loss Cycle
Pretty Large Candybar
Product Life Cycle
Profit/Loss Calculation
15
"Milana's Metal Mining Co." is what kind of business?
More than one of the above
Secondary Industry Business
Primary Industry Business
Tertiary Industry Business
16
There are absolutely correct and incorrect decisions in terms of business ethics
I don't know what business ethics is...
True
What do you mean "absolutely correct"
False
17
A business with two or more owners is called a
Corporation
Sole Proprietorship
Partnership
Franchise
18
Revenue - profit =
Expenses or gain
Expenses
Neither expenses nor gain
Gain
19
A set of moral principles that a business applies to be able to "do the right thing" is...
Business ethics
Social Responsibility
Moral obligation
Ethics
20
The Law of Supply states: The ____ the price of the product, the ____ the producer will supply
lower, less
lower, more
higher, less
higher, more
21
Pokemon Go is a
Fad
Service
Monopoly
Trend
22
During which stage of the PLC might the product get more features added on?
Maturity
Introduction
Growth
Decline
23
One last question...listen carefully (also pick the correct answer below)
Green is the best colour
Don't pick me
Pick me for points!
This is the correct answer
24
Mr. G will explain this question, Car vs Dirt
Stay
Switch
It doesn't matter, it's 50/50
25
Selfie sticks are a
Trend
Fad
Service
Monopoly
26
Which of the following must a business consider against its profit
workplace safety
all of the above
anti-discrimination issues
environmental responsibility
27
Which of the following will increase a company's production
Putting a limit to the number of hours employees can work
Buying more efficient machinery
Giving employees more breaks
Fire some employees
28
A process that is provided by an organization is a...
Service
Need
Want
Product
29
Ok. Time for another break. I promise this one will be easier though. Are you ready this time?
Yes
No
Pick This Option for Points!
This is the correct answer...Trust me... Would I lie?
30
A niche market is a
Bunch of nice consumers
A market in the French city of Nice
Bicyclists
A specialized group of consumers
31
Which of the following is an advantage for a corporation?
Guaranteed and recognized standard of quality products
Owned by the government
All profits belong to the owner
Thousands of shareholders
32
Wanting to do things with your own two hands rather than paying for work to be done is...
Cocooning
Egonomics
DIY
Clanning
33
During which stage of the PLC would the price of the product potentially decrease?
Decline
Maturity
Introduction
Growth
34
Pick the lowest section of Maslow's Hierarchy of Needs listed below?
Love/Belonging
Safety
Self-Actuarial
Physiological
35
Law of Demand states: The ____ the price of the product, the ____ the less the consumer demands
lower, more
higher, more
lower, less
higher, less
36
Which industry has benefited the most from major technological advancement?
Secondary
Tertiary
Primary
More than one of the above
37
Consumer have an influence on
Price
Products
The production methods and standards of a product
All of the above
38
Which of the following is an advantage for a Franchise?
Thousands of shareholders
All profits belong to the owner
Guaranteed and recognized standard of quality products
Owned by the government
39
Whistle blowing is when you tell your boss about an unethical behaviour in the company
False
True
40
"Mr. Penguin Antarctic Coal Mining"is a _______ industry business?
Tertiary
Secondary
Primary
More than one of the above
41
Which of the following industries is Walmart
associated
with?
Primary
More than one of the above
Secondary
Tertiary
42
Edward Snowden ...
Started WikiLeaks
Was a whistle blower for the NSA
Spied on USA for Russia
Is Mr. G's identity before he was put in witness protection
43
What is this point called?
Crossing Point
Equal Point
Meeting Point
Equilibrium Point
44
This is likely a graph for a
Fad
Trend
45
During the DECLINE stage of the PLC, which of the following will the company likely not do?
Increase production
Reduce cost
Discontinue the product and sell what's left at a low price
Maintain product and add new features or re-brand
46
Which is the highest level of Maslow's theory?
Philanthropic
Physiological
Physiotheraputic
Psychological
47
A trend is something that...
Is popular for a while but the popularity fades quickly
Is popular for a long period of time
Never became popular
48
Brothers and sisters, I have none. But this man's father is my father's son.
Father
Son
Grandson
Grandfather
49
A "good" is ...
an item that can be seen or touched
Tangible but can't be touched
Intangible
an item that cannot be seen or touched
50
During which stage of the PLC does the company experience highest profit?
Decline
Maturity
Introduction
Growth
51
The amount of a good or service available for customers to purchase is...
Real estate
Supply
Demand
Stock
52
Things that are not
required
for survival are called...
Food
Needs
Physiological Desires
Wants
53
Which of the following is a niche market?
Audiophiles
People living with disabilities
Elder people who need assistance
Professional gamers
54
The desire to stay home and protect yourself from the outside world is..
Egonomics
Cocooning
DIY
Clanning
55
"Discriminatory hiring practice" is when
Someone is hired based on their gender
Acting upon prejudice when hiring
Someone is not hired based on something about them.
Someone is not hired base on the prejudice of the employer
56
The amount of a good or service customers want to purchase is...
Supply
Stock
Real estate
Demand
57
Which of the following industries employs the least Canadians?
Primary and Secondary
Primary and Tertiary
Secondary and Tertiary
Tertiary alone
58
At the equilibrium point, the price is just high enough that ...
the market will soon crash
quantity of people buying > quantity business wants to sell
quantity of people buying < quantity business wants to sell
quantity of people buying = quantity business wants to sell
59
Corporations have a board of directors that make business decisions.
False
True
...umm, I guess? Maybe...
60
To belong to a group, giving a person security and agreeing with one's beliefs is ...
Egonomics
Cocooning
Clanning
DIY
61
Which of the following industries is Foxconn, the manufacturer of the iPhone associated with?
Primary
More than one of the above
Secondary
Tertiary
62
Which of the following is responsible for the money management in the business?
Communication
Management
Production
Accounting
63
During which stage of the PLC is marketing
arguably
most important?
Maturity
Growth
Decline
Introduction
64
Which industry has the smallest chance for making a profit
Tertiary
Secondary
More than one of the above
Primary
65
Which of the following is an advantage for a sole proprietorship?
Guaranteed and recognized standard of quality products
Owned by the government
Thousands of shareholders
All profits belong to the owner
66
Trucks, to the Uhaul company, are a...
Trend
Service
Capital good
Profit
67
When a product is no longer wanted by consumers, it is referred to as
old
retro
new
obsolete
68
The 4 stages of the PLC are...
Research, Development, Introduction, Obsolescence
Introduction, Growth, Maturity, Decline
Introduction, Maturity, Decline, Resurgence
Development, Introduction, Maturity, Decline
