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POB Unit 5.00 Review Flashcards | StudBud
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POB Unit 5.00 Review
POB Unit 5.00 Review
15 terms
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Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
Which is an example of a speculative business risk?
A suppliers shipment is lost in transit
a special promotion fails to increase sales
A cashier gives unauthorized discounts to friends
A customer is injured at a business and sues the company
2
When manufacturers gives back money to a customer they are engaged in:
Non price competition
offering rebates
Clearance sales
Price fixing
3
Major characteristic of market economy is what type of ownership of property?
government
limited
Private
monopolistic
4
Business selects goods or services to sell. Which type of risk is the business using?
Transferring risk
Avoiding risk
Bypassing risk
Controlling risk
5
Who decides how goods and services are marketed in a private enterprise economic system?
competitors
Business people
legislators
consumers
6
Extending credit to a company for the company's advantage is violating what federal act?
celler-Kefauver Act
Clayton Act
sherman Act
robinson-Patman Act
7
Business ethics involve considering issues about what is:
Legal and illegal
right and wrong
Safe and unsafe
Positive and negative
8
The basic role of the United States governments is to:
maintain control of prices
increase production
limited business startups
Protect U.S. citizens
9
Business that successfully adapt to current market situations often realize that:
Change is an opportunity
diversification is the key
more financing is necessary
cutting cost is important
10
In business terms, what is profit?
A good investment
A holiday bonus
A risky venture
a monetary reward
11
Which represents a natural risk for the owner of a delivery service?
snowstorm
Government intervention
Rising prices
Accident
12
Primary factors affect the business structure include interpersonal relationships, task, and:
Injunction
attrition
initiative
Authority
13
Which is an example of ethical business behaivior?
Accepting a bribe from a prominent customer
Using advertisemnts to confuse customers
Disclosing partial information about products
testing products to ensure they are safe to use
14
Which is a problem associated with communist command economies?
there is no competition
Individuals run the risk of losing their business
Supply and demand control what will be produced
There are high taxes
15
What type of government provides free medical care, education, and other benefits.
Welfare
capitalist
military
consumer