Intro to Business Unit Test - Chapters 7, 8, 10 Quiz

Question 1

__: the interconnected economies of nations

Accepted Answer

Global economy

Question 2

In the __ leadership style, leaders set goals for managers & employees, then leave them to work

Accepted Answer

free-rein

Question 3

__ means taking a company and its employees in a direction based on a vision.

Accepted Answer

Leadership

Question 4

T or F: in a self-managed team, the manager's role is replaced with the team leader's role.

Accepted Answer

True

Question 5

___: adhering to a code of ethical values such as honesty, loyalty, and fairness

Accepted Answer

Integrity

Question 6

Who are the highest paid managers in a corporation?

Accepted Answer

top-level managers

Question 7

Which of these isn't important for leaders to know?

Accepted Answer

All are important to know

Question 8

Which manager is responsible for the daily operations of the business?

Accepted Answer

operational manager

Question 9

departmentalization is a(n) __ type of structure usually found in __ companies.

Accepted Answer

formal, large

Question 10

Which management function relates to obtaining & coordinating resources so objectives are met?

Accepted Answer

Organizing

Question 11

Which element of management provides direction and vision to the organization?

Accepted Answer

Leading

Question 12

T or F: In a centralized organization, authority is given to a number of different managers

Accepted Answer

False

Question 13

A(n) __ is a ban on the import or export of a product.

Accepted Answer

Embargo

Question 14

__ is a limit placed on the quantities of a product that can be imported

Accepted Answer

Quota

Question 15

The process or functions of planning, organizing, leading and controlling

Accepted Answer

management

Question 16

What do you do when you assign tasks to other people, allowing you to work on other things?

Accepted Answer

delegate

Question 17

__ means adhering to a code of ethical values such as honesty, loyalty, and fairness.

Accepted Answer

Integrity

Question 18

Which of these is true?

Accepted Answer

Integrity means adhering to a code of ethical values

Question 19

Which organizational structure is more likely to have written organizational charts?

Accepted Answer

Formal

Question 20

Which is an advantage of a self-managed team?

Accepted Answer

members can learn others' jobs and obtain new skills

Question 21

Which value is most highly valued in leaders?

Accepted Answer

Integrity

Question 22

Which is not a function of management?

Accepted Answer

Managing

Question 23

Yen, pesos, and dollars are examples of __.

Accepted Answer

currency

Question 24

Which of these is false?

Accepted Answer

In self-managed teams, leader role is replaced by manager's

Question 25

Which of the following is not a characteristic of motivation?

Accepted Answer

All are characteristics of motivation

Question 26

Which business type is most flexible?

Accepted Answer

Informal

Question 27

T or F: the purpose of management is to set and meet goals effectively so the business makes $

Accepted Answer

True

Question 28

__ is a tax placed on imports to increase their price in the domestic market.

Accepted Answer

Tariff

Question 29

Which organization type is more common in large businesses than in small?

Accepted Answer

Formal

Question 30

__: the CEO of the organization

Accepted Answer

Top-level manager

Question 31

Which is not an advantage of being a manager?

Accepted Answer

Responsibility if things go wrong

Question 32

Which element of management helps keep the company on track and make sure goals are met?

Accepted Answer

Controlling

Question 33

___: goods and services brought into a country; ___: goods or services sold to another country

Accepted Answer

Imports; exports

Question 34

What is departmentalization?

Accepted Answer

Dividing responsibility among specific units

Question 35

Which element of management includes creating goals & objectives & the strategies to meet them?

Accepted Answer

Planning

Question 36

Which element of management gets the resources arranged to accomplish goals and objectives?

Accepted Answer

Organizing

Question 37

In a __ leadership style, everyone meets, discusses, and listens to others' opinions.

Accepted Answer

democratic

Question 38

__: the difference in value between a country's imports and exports over a period of time

Accepted Answer

Balance of trade

Question 39

The __ is the price at which one currency can buy another currency

Accepted Answer

exchange rate

Intro to Business Unit Test - Chapters 7, 8, 10 Quiz

Questions 39

Intro to Business Unit Test - Chapters 7, 8, 10 Quiz

Questions 39