Business Management quiz 1

Question 1

What do we call the things that are used to help make goods and services?

Accepted Answer

Resources

Question 2

Under the shareholder theory, firms exist and managers manage to ______ for the firm's owners.

Accepted Answer

maximize wealth

Question 3

In the following Graph what is the production point called?

Accepted Answer

Impossible

Question 4

Which of the following economic systems describes the United States?

Accepted Answer

Mixed

Question 5

What does CSR stand for

Accepted Answer

Corporate Social Responsibility, Customer Service Representative

Question 6

Which of the following is a strength of the Profit Dominant Logic

Accepted Answer

Measurable success

Question 7

Which of the following is not a type of Resource?

Accepted Answer

Specific Resources

Question 8

What is a trade off?

Accepted Answer

When you choose one option over another

Question 9

A 3.2% unemployment rate among College graduates is an example of Microeconomics.

Accepted Answer

False

Question 10

The Local Community is a stakeholder in a business because

Accepted Answer

They provide jobs

Question 11

Which of the following is NOT an example of "greenness"?

Accepted Answer

Maximizing profits

Question 12

What is an opportunity Cost?

Accepted Answer

The choice not taken

Question 13

Which of the following is not a way firms have made decisions?

Accepted Answer

Market Dominant

Question 14

Which of the following is an external stakeholder of an organization?

Accepted Answer

Government

Question 15

What is Capital?

Accepted Answer

Produced means of Production

Question 16

In this picture water is scarce.

Accepted Answer

True

Question 17

What do we call things that can satisfy people's wants?

Accepted Answer

Goods

Question 18

The five areas of CSR are: Strategy, Financial, Customer and Product, Human, and ______

Accepted Answer

Governance and Stakeholder

Question 19

Which of the following is NOT an advantage of a Customer Dominant Logic?

Accepted Answer

Biased towards large Accounts

Question 20

In business, __________ are often faced with a difficult task of evaluating tradeoffs

Accepted Answer

Managers

Question 21

Which of the following is a need?

Accepted Answer

A Roof

Question 22

A plague breaks out killing cows, now there aren't as many steaks being made, this is called?

Accepted Answer

Scarcity

Question 23

The Market Price is:

Accepted Answer

Where Demand and Supply are equal.

Business Management quiz 1

Questions 23

Business Management quiz 1

Questions 23