Question 1

A __________ is a person who owns and operates his or her own business.

Accepted Answer

A)  Manager 
B)  Entrepreneur 
C)  Private Investor 
D)  Stakeholder 
A)  Manager 
B)  Entrepreneur 
C)  Private Investor 
D)  Stakeholder B

Question 2

An important change in the global environment has been the increase in free trade among nations.

Accepted Answer

A) True 
 B)False  True

Question 3

What is free trade and what impacts it?

Accepted Answer

Free trade is the movement of goods and services among nations without political or economic barriers.The elimination of taxes and tariffs on imported goods has led to globalization.

Question 4

Any person,partnership or corporation that seeks to provide goods and services to others at a profit is known as a:

Accepted Answer

A)  Manager 
B)  Corporation 
C)  Business 
D)  Service 
A)  Manager 
B)  Corporation 
C)  Business 
D)  Service

Question 5

After the 1700s most people were self-sustaining and made their own clothing.

Accepted Answer

A) True 
 B)False

Question 6

The practice of foreign companies setting up design and production facilities in the United States,creating U.S.jobs is:

Accepted Answer

A)  Outsourcing 
B)  Insourcing 
C)  Globalization 
D)  Management prerogative 
A)  Outsourcing 
B)  Insourcing 
C)  Globalization 
D)  Management prerogative

Question 7

An electronic storage file where firms keep customer information is known as a(n):

Accepted Answer

A)  MP3 file 
B)  Management information system 
C)  Database 
D)  Email server 
A)  MP3 file 
B)  Management information system 
C)  Database 
D)  Email server

Question 8

Empowerment means giving frontline workers the ability to make decisions without consulting the manager.

Accepted Answer

A) True 
 B)False

Question 9

A stakeholder is an owner of a company.

Accepted Answer

A) True 
 B)False

Question 10

Factors of production include land,labor,capital,entrepreneurship,and knowledge.

Accepted Answer

A) True 
 B)False

Question 11

A business incurs a __________ if its expenses are more than its revenues.

Accepted Answer

A)  Loss 
B)  Liability 
C)  Debt 
D)  Dividend 
A)  Loss 
B)  Liability 
C)  Debt 
D)  Dividend

Question 12

__________ are tangible products such as cameras,food,computers and clothing.

Accepted Answer

The answer of __________ are tangible products such as cameras,food,computers...

Question 13

__________ is assigning various functions,such as accounting,production,security,maintenance and legal work,to organizations outside of the business.

Accepted Answer

The answer of __________ is assigning various functions,such as accounting,production,security,maintenance...

Question 14

The automotive industry is an example of an industry seeing the effects of global outsourcing.

Accepted Answer

A) True 
 B)False

Question 15

Medium-sized enterprises employ between 50 and 500 individuals.

Accepted Answer

A) True 
 B)False

Question 16

For-profit organizations are motivated to earn:

Accepted Answer

A)  Awards 
B)  Profit 
C)  Revenues 
D)  Customers 
A)  Awards 
B)  Profit 
C)  Revenues 
D)  Customers

Question 17

What is meant by value?

Accepted Answer

Production of high quality products alon

Question 18

Workers moved to __________ industry jobs as technology and machination eliminated manufacturing jobs.

Accepted Answer

The answer of Workers moved to __________ industry jobs as...

Question 19

When classifying a business according to __________,the number of employees is a primary criterion.

Accepted Answer

The answer of When classifying a business according to __________,the...

Question 20

Which of the following is a service?

Accepted Answer

A)  Education 
B)  Health Care 
C)  Insurance 
D)  All of the responses are correct 
A)  Education 
B)  Health Care 
C)  Insurance 
D)  All of the responses are correct

A __________ is a person who owns and operates his or her own business.

An important change in the global environment has been the increase in free trade among nations.

What is free trade and what impacts it?

Any person,partnership or corporation that seeks to provide goods and services to others at a profit is known as a:

After the 1700s most people were self-sustaining and made their own clothing.

The practice of foreign companies setting up design and production facilities in the United States,creating U.S.jobs is:

An electronic storage file where firms keep customer information is known as a(n):

Empowerment means giving frontline workers the ability to make decisions without consulting the manager.

A stakeholder is an owner of a company.

Factors of production include land,labor,capital,entrepreneurship,and knowledge.

A business incurs a __________ if its expenses are more than its revenues.

__________ are tangible products such as cameras,food,computers and clothing.

__________ is assigning various functions,such as accounting,production,security,maintenance and legal work,to organizations outside of the business.

The automotive industry is an example of an industry seeing the effects of global outsourcing.

Medium-sized enterprises employ between 50 and 500 individuals.

For-profit organizations are motivated to earn:

What is meant by value?

Workers moved to __________ industry jobs as technology and machination eliminated manufacturing jobs.

When classifying a business according to __________,the number of employees is a primary criterion.

Which of the following is a service?

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Creating Products and Pricing Strategies to Meet Customers Needs

Distributing and Promoting Products and Services

Using Technology to Manage Information Lf-Test Scoring Guidelines

Filters

Exam 1: Introduction

A __________ is a person who owns and operates his or her own business.

An important change in the global environment has been the increase in free trade among nations.

What is free trade and what impacts it?

Any person,partnership or corporation that seeks to provide goods and services to others at a profit is known as a:

After the 1700s most people were self-sustaining and made their own clothing.

The practice of foreign companies setting up design and production facilities in the United States,creating U.S.jobs is:

An electronic storage file where firms keep customer information is known as a(n):

Empowerment means giving frontline workers the ability to make decisions without consulting the manager.

A stakeholder is an owner of a company.

Factors of production include land,labor,capital,entrepreneurship,and knowledge.

A business incurs a __________ if its expenses are more than its revenues.

__________ are tangible products such as cameras,food,computers and clothing.

__________ is assigning various functions,such as accounting,production,security,maintenance and legal work,to organizations outside of the business.

The automotive industry is an example of an industry seeing the effects of global outsourcing.

Medium-sized enterprises employ between 50 and 500 individuals.

For-profit organizations are motivated to earn:

What is meant by value?

Workers moved to __________ industry jobs as technology and machination eliminated manufacturing jobs.

When classifying a business according to __________,the number of employees is a primary criterion.

Which of the following is a service?

Making Ethical Decisions and Managing a Socially Responsible Business

Competing in the Global Marketplace

Forms of Business Ownership

Entrepreneurship: Starting and Managing Your Own Business

Management and Leadership in Todays Organizations

Designing Organizational Structures

Managing Human Resources and Labor Relations

Motivating Employees

Achieving World-Class Operations Management

Creating Products and Pricing Strategies to Meet Customers Needs

Distributing and Promoting Products and Services

Using Technology to Manage Information Lf-Test Scoring Guidelines

Filters