Unit 1 and 2
In what type of organizations do those at the top of the chain have more information and power than those at the bottom?
A. hierarchical
B. non-hierarchical
C. flatarchy
A. Hierarchical
Which of these should be included on a resumé?
A. letters of recommendation
B. descriptions of past jobs held
C. grade point average for middle school
B. descriptions of past jobs held
What is the first thing that business owners must consider when determining the price of their goods?
A. the costs associated with purchasing the finished product from the manufacturer including all shipping and packaging
B. the average income of consumers most likely to buy their product
C. how much money they hope to bring in as a profit annually
A. the costs associated with purchasing the finished product from the manufacturer including all shipping and packaging
A sudden drop in consumer demand is an example of what kind of risk?
A. human risk
B. market risk
C. economic risk
B. market risk
What is an exporter?
businesses or individuals that send goods out to international markets
Where do regional businesses operate?
A. in a large and widespread geographic area
B. in a limited geographic area
C. equally spread out through an entire country
B. in a limited geographic area
Why is projected growth an important factor to consider when choosing a career?
A. It is an estimate, so it should not be taken too seriously.
B. It determines how much the average career in that field pays.
C. It indicates whether jobs in a field are likely increase or decrease.
C. It indicates whether jobs in a field are likely increase or decrease.
What two countries still maintain tightly controlled command economies today?
A. Libya and Greece
B. Cuba and North Korea
C. Brazil and Argentina
B. Cuba and North Korea
If an employee is injured on the job, whose responsibility is it to take care of any related medical expenses and continue to pay the employee until they are medically-cleared to return to work?
A. the employee’s co-workers
B. the unemployment office
C. the employer
C. the employer
What are soft skills?
an attribute that allows people to work well with others
Which is an example of an intangible product?
A. movie streaming
B. blended coffee
C. deli sandwich
A. Movie Streaming
How can you tell if you have an aptitude for a subject?
A. It is a popular subject in your school.
B. You are required to study it in school.
C. You learn it more easily than other subjects.
C. You learn it more easily than other subjects.
Expenses like rent, insurance, or payments on a loan do not change and are known as:
A. variable expenses.
B. base salary.
C. fixed expenses.
C. fixed expenses.
What data protection technique can prevent most criminals from hacking into networks?
A. padlocks
B. firewalls
C. malware
B. firewalls
What is elastic?
a product for which consumer demand fluctuates with pricing
Which scenario BEST shows the first step of the supply chain?
A. A logistics company organizes the transportation of finished products to retail stores.
B. A retail store stocks shelves with products ready for customers to purchase.
C. A farmer harvests the vegetables from his crops and prepares them for distribution.
C. A farmer harvests the vegetables from his crops and prepares them for distribution.
June owns a business that buys products in bulk and distributes them to other businesses, which would make her a:
A. wholesaler
B. advertiser
C. materials man
A. wholesaler
Who is one of the most successful business leaders and investors in US history as well as the current the chairman and chief executive officer of Berkshire Hathaway, an Omaha, Nebraska, firm that owns such companies as Dairy Queen, Fruit of the Loom, GEICO, and more than fifty additional companies?
A. Tim Cook
B. Warren Buffet
C. Elizabeth Holmes
B. Warren Buffet
A company requires a unique decryption key to decode customer data so that unauthorized users can’t access it. What is this an example of?
A. data collection
B. data deletion
C. data security
C. data security
What is ethics?
the moral principles and beliefs that guide the actions of communities, organizations, and individuals as they interact with each other
Which BEST represents the impact of the COVID-19 pandemic on business?
A. focus on in-person collaboration
B. shift to more work-from-home model
C. obsoletion of traditional offices
B. shift to more work-from-home model
When goods go straight from the place that they are manufactured to the public this is called:
A. producer direct
B. manufacturer direct
C. factory direct
C. factory direct
What 1938 legislation regulates some aspects of employment rights—including the right of the employee to enjoy appropriate breaks while on the job?
A. Fair Labor Standards Act
B. Environmental Protection Act
C. Employee Tariff Act
A. Fair Labor Standards Act
What government resource can provide information for businesses about the population of an area and the median income?
A. malware
B. census data
C. big data
B. census data
What is monopoly?
exclusive control of a supply or product