Team 2 is Cringe Bruh
In business, change is the only:
A. export
B. import
C. constant
D. leverage
C. Constant
The ability of a computer program or machine to think and learn, and to emulate or match what human beings do, like reasoning and making decisions, is called:
A. ambient intelligence
B. Internet of Things
C. HTML
D. artificial intelligence
D. artificial intelligence
A network of devices connected to the Internet that identify themselves, and communicate between other internet-enabled devices and systems, is called:
A. ambient intelligence
B. Internet of Things
C. HTML
D. artificial intelligence
B. Internet of Things
A business model is how a company sells its products to customers and it’s plan for making a __________.
A. expense
B. invention
C. profit
D. sales forecast
C. profit
Selling your product directly to your end customers without third-party retailers, wholesalers, or other middlemen is called:
A. Wholesaler
B. Bricks-and-Clicks
C. Nickel-and-Dime
D. Direct to Consumer (D2C)
D. Direct to Consumer (D2C)
A distributor buys products from _______________ and resells them either to wholesalers, retailers or the public.
A. retailers
B. manufacturers
C. freemium
D. consumers
B. manufacturers
McDonalds and Subway are examples of a ____________ business model.
A. E-Commerce
B. Multilevel Marketing
C. Franchise
D. Direct Sales
C. Franchise
A local bank or hardware store are examples of a _____________ business model.
A. Bricks-and-Mortar
B. Bricks-and-Clicks
C. Wholesaler
D. Aggregator
A. Bricks-and-Mortar
B. an Aggregator
What are some factors to consider when selecting a type of business ownership?
A. tax liability
B. the limits or potential liabilities of personal losses
C. control in operating the business
D. all the above
D. all the above
What type of business has one owner, is easy to get started, where the owner has complete control, and where the owner is personally and fully responsible (liable) for any debts and any other damages that might be caused by the business.
A. Limited Partnership
B. Sole Proprietorship
C. Limited Liability Company
D. S Corp
B. Sole Proprietorship
What type of business has multiple owners, benefits from individuals combining resources, but whose liability isn’t limited to the amount of their investment?
A. General Partnership
B. S Corp
C. Limited Liability Company
D. C Corp
A. General Partnership
This type of business ownership doesn’t sell shares to the general public, and is usually owned by a small group of people, and experiences double taxation.
A. Limited Liability Company
B. C Corp
C. Private Corporation
D. S Corp
C. Private Corporation
The United Way is an example of this type of corporation:
A. Non-Profit Corporation
B. S Corp
C. Franchise
D. Multi-Level Marketing
A. Non-Profit Corporation
Why are Limited Liability Partnerships (LLPs) appealing to a group of doctors or lawyers?
A. they are subject to double taxation
B. to reduce disagreements between the partners
C. unlimited liability for each doctor/partner
D. liability is limited to each doctor/partner, and each doctor/partner isn’t liable for the malpractice of any other doctor/partner
D. liability is limited to each doctor/partner, and each doctor/partner isn’t liable for the malpractice of any other doctor/partner
For business owners wanting to minimize their liability, they should pursue this form of ownership:
A. LLC or Sole Proprietorship
B. LLC or S Corp
C. LLP or General Partnership
D. C Corp or Sole Proprietorship
B. LLC or S Corp
Pizza Hut and Dominos are examples of:
A. monopolies
B. primary data
C. direct competition
D. indirect competition
C. direct competition
If someone were to purchase a ticket for a bus ride from Nashville, TN to Tampa, FL, the bus company would be considered _________________ for airlines.
A. indirect competition
B. direct competition
C. bargaining power of suppliers
D. bargaining power of buyers
A. indirect competition
One benefit of a competitive analysis is to better understand:
A. your strengths and weaknesses
B. your suppliers’ intellectual property (I.P.)
C. your competitors’ strengths and weaknesses
D. government regulations
C. your competitors’ strengths and weaknesses
The U.S. economy is built on the economic system called ___________.
A. privately-owned
B. innovation
C. direct competition
D. capitalism
D. capitalism
What is the definition of business?
A. A route or plan of action designed to achieve certain organizational goals and objectives.
B. A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.
C. Improving existing products and developing new products in order to meet customer demands.
D. Collecting, organizing, storing, and securing relevant data and information.
B. A for-profit or non-profit organization involved in commercial, industrial, or professional commerce.
Business is about ___________ managing business functions.
A. information
B. technology
C. people
D. markets
C. people
Which business function is responsible for recruiting, hiring, onboarding, training, evaluating, and terminating employees?
A. Finance/Accounting
B. Strategy
C. Human Resources
D. Marketing
C. Human Resources
A company’s purpose, reason for being, and problem it is solving is its:
A. strategy
B. target market
C. profit margin
D. mission
D. mission
Which business function is about collecting, organizing, storing, and securing relevant data and information in order to make informed decisions?
A. Human Resources
B. Information Management
C. Operations
D. Strategy
B. Information Management