DBM Semester Exam Review

Another name for the economic system in the United States is

Successful entrepreneurs tend to have all of the following characteristics EXCEPT

The right to make decisions about how responsibilities should be achieved is called

Which one of the mngmnt functions involves analyzing info, setting goals, & making decisions ?

IN every nation on Earth,

Which is NOT a major responsibility of a co.'s human resources department?

Short-term financing is obtained for a period of less than

The combined use of tactical and strategic management is known as 

This type of compensation method pays employees a specific amount of $ for each hour worked

Removing work from one co.& sending it to another co. that can complete it at a lower cost is

Which is probably the LEAST important factor in becoming an entrepreneur?

Proprietorships

A recession often affects some group of workers in related businesses. The drop is called

Entrepreneurs

If you choose not to complete a risky activity, you are said to be ___ the risk.

A precise statement of results a business expects to achieve is a 

According to the SBA, a small business is an independent business with fewer than __ employees

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

IF GDP growth slows for at least _ quarter(s), the economy is probably in a recession.

The major influence on the level of interest rates is

Which marketing function involves comm. directly w/ potential customers to determine theirneed?

In a __plan, employees receive regular compensation + a portion of the company's earnings

Inflation

The first step in the consumer decision-making process is to

Goods

A risk that involves a possible injury to your health would be classified as a 

The staffing management function

The assignment of an employee to another job in the co. with similar level of responsibility

Which of the following is NOT a characteristic of a depression?

Managers typically spend much of their time dealing with

GDP does NOT include

The first level of management in a business are

Which of these items would be counted when measuring GDP?

Which of the following would NOT generally be considered one of the marketing functions?

The way a manager treats and involves employees is called

The amount of a policyholder must pay for insurance coverage is a 

GDP measures a country's economic output during

A pure risk

Which of the following is a function of promotion?

Human Resources

Just one person is MOST likely responsible for all of the management functions in a 

All nations must decide

the exclusive right of an inventor to make, sell and use a product or process is called a

Which of the following would typically NOT be specified in a partnership agreement?

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

People producing goods and services are called

At the peak of the business cycle is

A written legal document defining ownership & operating procedures & conditions for a corp. is

If everybody had an unlimited supply of economic resources, which would not exist?

What are the four elements of a marketing mix?