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FOB Final Exam Review
FOB Final Exam Review
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DB final exam review
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
The most common technology used in business today is
computer
copier
automobile
phone
2
Controlling, leading, organizing, and planning are the four ____________ of management.
cornerstones
functions
characteristics
objectives
3
An example of taking initiative would be
working as part of a team.
figuring out an efficient way to handle a problem yourself.
completing a task on time.
asking someone “how to” fix something.
4
When the price of a common good or service is too high, the most likely outcome would be?
demand falls
supply decreases
profits rise
personal desire increases
5
Which is likely to profit from society’s changing wants and needs?
a business with existing capital resources
a business with substantial labor resources
A producer of goods
an entrepreneur
6
What is the name of an economy that contains both private and public enterprises?
market
modified
command
mixed
7
What might a business do if it’s products are not satisfying customers’ needs?
start a new business.
try new selling techniques.
modify its products to satisfy customers.
consider bankruptcy.
8
Which statement best describes management’s most important responsibilities?
Planning, controlling and evaluating the use of resources.
Improving production efficiency and increasing profits
Monitoring the interdependence of functional business areas.
Making future decisions by analyzing financial statements.
9
One effect of technology on employment is that it
Requires a college degree.
Causes unskilled workers to lose their jobs.
Allows bosses to keep tabs on their employees.
Allows people to work easier and faster.
10
Which is true of a recession in the US economy?
new businesses open
people buy more houses
businesses produce less
wages are higher
11
A trusted person that guides someone’s career.
aptitude
major
career cluster
mentor
12
What does market research provide?
profit
information
opportunities
jobs
13
The main advertising vehicle in the United States is
the Internet.
television.
billboards.
the newspaper.
14
Which statement is most true about leaders?
Leaders must be charismatic.
Leadership qualities can be learned.
Leaders are born.
Everyone can be a leader.
15
What might be some disadvantages within a sole proprietorship?
There are only advantages
Time and money, Double Taxing, additional paperwork
Personal liability, difficulty raising money, heavy burden
Complete control, easy tax preparation, inexpensive to form
16
The Internet has created a demand in business for all of the following, except:
Social Media expert.
Information technology security expert.
Web-page designer.
Computer hardware expert.
17
The academic subject chosen in college as a field or specialization is
interest
aptitude
major
internship
18
The marketing function involving how much to charge for products and services is called
promotion.
marketing information management.
pricing.
financing.
