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PoBF 5.01-5.05 Flashcards | StudBud
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PoBF 5.01-5.05
PoBF 5.01-5.05
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Answers
1
At a Company, 4 employees worked 25 hours a week and produced 4,200 products. What's the total hourly production output?
168
42
1,050
262
2
The formula that is generally used to measure productivity is:
inputs divided by labor.
goods divided by time.
labor divided by resources.
outputs divided by inputs.
3
If a business is
not
concerned about social responsibility, it is likely to:
be a failure.
grow
become solvent.
prosper.
4
Which situation would
most likely
indicate the need to adapt to changes in the business environment?
The supply of materials used in manufacturing a product has decreased.
The number of the business's competitors has decreased.
The business has experienced little employee turnover during the past year.
The demand for the product is stable.
5
Business ethics involve considering issues about what is:
positive and negative.
right and wrong.
safe and unsafe.
legal and illegal.
6
If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity
67
105
93
31
7
Three primary factors that affect organizational structure of a business include interpersonal relationships, tasks, &:
initiative.
authority
attrition
injunction
8
Businesses that successfully adapt to current market situations often realize that:
diversification is the key.
cutting costs is important.
change is an opportunity.
more financing is necessary.
9
The government can borrow money from the private sector in order to pay the costs of regulation by:
issuing bonds.
raising taxes.
selling licenses.
setting prices.
10
A business selects goods or services to sell. Which type of risk is this business using?
bypassing risk
avoiding risk
transferring risk
controlling risk
11
In a private enterprise economic system, the interaction of supply and demand primarily determines:
product prices.
economic choices.
the extent of pollution.
government regulation.
12
For a business, income remaining after payment of expenses is:
debt.
profit.
loss.
capital.
13
Governments provide citizens with free medical care, education, and other benefits are which type of state:
consumer
capitalist
military
welfare
14
Which factor has aided the
most
in creating a global business environment?
cultural change
government
exchange rate
technology
15
Which is an external factor that affects market price?
number of items in stock
consumer buying power
available credit terms
location of items in store
16
A U.S. company would decide to offer its products in other countries as a reason to:
provide jobs to people in other countries.
subsidize developing countries.
sell obsolete, outdated products.
expand to new, untapped markets.
17
A local dry cleaner that also launders and presses shirts is selling:
consumer services.
industrial
specialty goods.
tangible items.
18
Which provides government protection of business property?
patents
consumer protection laws
revenues
economic incentives
19
When manufacturers give back part of the purchase price of an item to the customer, the manufacturers are engaged in:
offering rebates.
nonprice competition.
clearance sales.
price fixing.
20
A business selects goods or services to sell. Which type of risk is this business using?
avoiding risk
controlling risk
bypassing risk
transferring risk
21
The productivity of an individual worker can be measured by:
dividing the total number of products made by number of production steps
dividing the $ totals of sales by the costs of making all of those sales
dividing the number of customers served by the hours an employee worked
dividing the $ totals of sales by the number of salespeople who made it
22
One factor that might limit the human resources available for certain jobs is a/an:
inadequate pay level.
appealing company image.
good safety record.
organized training program.
23
Which situation would
most likely
indicate the need to adapt to changes in the business environment?
The number of the business's competitors has decreased.
The business has experienced little employee turnover during the past year.
The demand for the product is stable.
The supply of materials used in manufacturing a product has decreased.
24
Which is an example of ethical business behavior?
testing products to ensure they are safe to use
using advertisements to confuse customers
accepting a bribe from a prominent customer
disclosing partial information about products
25
Which is an example of a speculative business risk?
A supplier's shipment is lost in transit.
A cashier gives unauthorized discounts to friends.
A customer is injured at a business and sues the company.
A special promotion fails to increase sales.
26
Which is a reason that natural resources are considered limited?
Some countries are unable to manufacture them.
The earth has certain boundaries.
People lack training or skills needed to do a job.
Technology has advanced faster than training.
27
Which is a factor that affects the business environment?
industry competition
conflict negotiation
information management
staff organization
28
For a business, income remaining after payment of expenses is:
capital.
loss.
profit.
debt
29
Which is an example of an economic service?
tennis shoes
baseball glove
concert ticket
car stereo
30
A killing frost destroys 80% of Florida's citrus crop. This will
most likely
create:
a buyer's market.
inelastic demand.
a seller's market.
pure competition.