exam 1 questions

Mary Kay _ states the organization is committed to“Enriching the lives of women and their families around the world”

_____ involve(s) the design and management of the processes that transform resources into goods or services.

A _leader, like Jamie, uses her authority based on her rank in her firm. Jamie is considered which type of leader?

When we plot a supply and a demand curve for apples on one graph, the point at which the two points intersect is the

Businesses fail for a number of reasons. Which of the following is not one of those reasons?

Companies build and support teams because:

When management determines principles that should guide their organization’s behavior,what action below is taking place?

The shareholders elect a ___________, a group of people who are legally responsible for governing the corporation.

Which of the following best describes entrepreneurs?

who owns general mills

team designed to take advantage of the special expertise of members drawn from different functional areas of the company

In a limited partnership, a single _____ runs the business and is responsible for all of the business liabilities.

_____ are major accomplishments that a company plans to achieve over a long period of time, generally five years.

_____ not only provide factors of production (or resources) but also consume goods and services.

Showing who reports to whom, an org. _describes the authority relationships among people working at different levels.

Adidas produces and markets shoes, clothes, and sports equipment. Adidas sells...

Which of the following is true regarding groupthink?

Since these firms function in a _ industry, a fare increase at United Airlines will likely result in increases at Delta

When Starbucks responds to environmental concerns by eliminating plastic straws, it shows a desire to be a ______.

Sometimes the only section of a business plan that readers will consider is the _____.

Marcias first business was called "Bliss Spa." After selling this business, she launched two more companies, Marcia is

The most important benefit of incorporation is the _____ feature of corporations.

When each team member is encouraged by other team members to do his or her best, then:

Kraft and Heinz were an example of a(n) _____.

The principle of _____ refers to the number of people reporting to a particular manager.

Managers who make decisions without soliciting input from subordinates are using the following leadership style _

Owners of small businesses are responsible for much of the _____ of U.S. business

A very important consideration in picking a legal form of business is _________.

Which of the following is the most common but riskiest option in becoming a small business owner?

Corporations account for _____ percent of all U.S. businesses but generate almost _____ percent of the revenues.

a company's strengths, weaknesses, opportunities, and threats usually takes place during the process of _ planning

A demand curve shows the relationship between the:

Mike will often talk too much and interrupt others. He is guilty of which blocking strategy?

Generally speaking, economic systems can be divided into _____ and _____ systems.

majority of Americans entered the business world by working for_ which create jobs and provide opportunties for workers

Ted reported the amount of waste created by machinery was 15,000 more than planned.His report falls under what function?

Paula is determining how many employees should work and at what times. She is performing which management function

Which of the following question(s) does an economist attempt to answer?

Which of the following is not true for a sole proprietor?

Factors of production—equipment, buildings, vehicles, and cash—are considered _____.