Entrepreneurship
What do business employees often need to do before they are able to write proposals?
A. Research the problem
B. Analyze personal biases
C. Contact the customer
D. Evaluate technical skills
A) Research the problem: The intention of a proposal is to solve a problem, so you must have an understanding of the problem in the first place.
Which of the following is an economic service:
A. Eyeglasses
B. Bottle of perfume
C. Baseball bat
D. Ticket to football game
D) Ticket to football game: the buyer is entitled to watching the football game from buying the ticket.
To achieve a good work-life balance, you should always
A. budget your time and energy.
B. do activities you enjoy.
C. set high personal goals.
D. complete work tasks first.
A) Budget your time and energy. The best way to achieve work-life balance is to budget your time and energy. Being aware of your own limits can help you avoid overcommitting to outside responsibilities or taking on too many projects at work.
An important factor in effective verbal communication is:
A. reading from a script.
B. developing mannerisms.
C. having a pleasant voice.
D. enunciating rapidly.
C. having a pleasant voice.
Where are the ICDC qualifiers headed this year for the international conference?
Orlando, Florida!!
Which of the following is an example of a durable good:
A. House
B. Haircut
C. Gasoline
D. Hamburger
A) House: A durable good is an item that is intended to last a relatively long time.
Determining which tasks need to be performed and when they need to be completed is an important aspect of project:
A. planning.
B. initiating.
C. executing.
D. closing.
A) Planning: A project is any type of undertaking or task that has a distinct beginning and end. A project plan is a specific course of action (plan) for accomplishing the project's objectives.
When you use money to make money, you are
A. saving.
B. investing.
C. reimbursing.
D. rationing.
B) Investing
Identify the type of appeal used in the following persuasive message: "This new book is written by Dr.
Juliet Browne, who holds a doctorate from the Harvard School of Medicine and is the Chair of the World
Health Organization."
A. Shock value
B. Reason
C. Emotions
D. Credibility
D. Credibility
How many total medals and awards did HC collect this year?
12 ICDC Qualifiers, 33 Medals total
An important part of a market analysis involves collecting __________ information.
A. confidential
B. geographic
C. employee
D. property
B) Geographic: A business must consider geographic factors such as geographic location of customers when analyzing a market.
Which of the following is a primary responsibility of the project manager during the execution phase of a project:
A. Developing a list of work tasks
B. Assembling a steering committee
C. Keeping the project on track
D. Acquiring project supplies and equipment
C) Keeping the project on track: track. During the execution phase, the project manager is responsible for ensuring that tasks are performed correctly, taking corrective action if problems occur, and keeping the project on track in terms of schedule and scope.
What is typically the first step in the managerial planning process?
A. Developing company goals and objectives
B. Identifying necessary tasks
C. Establishing methods to evaluate progress
D. Prioritizing projects and tasks
A) Developing company goals and objectives. The first step in the managerial planning process involves establishing company goals and objectives.
When the demand for a product increases, a producer will normally increase the quantity of product
supplied. In this situation, what will usually happen to the product's price?
A. The price will increase.
B. The price is not affected.
C. The price will decrease.
D. The price will remain constant.
A. The price will increase.
How many DECA members did HC have in total this year?
174 members! (according to Veracross)
Businesses often obtain cash to produce and sell goods by borrowing against their
A. current liabilities.
B. accounts receivable.
C. operating expenses.
D. promissory notes.
B) Accounts receivable: Accounts receivable are all the monies owed to a business by its customers. Businesses in need of cash to continue producing and selling goods often use their accounts receivable as collateral when borrowing from financial institutions.
A business is mostly likely to review customer invoices from the previous year to
A. improve service.
B. evaluate ideas.
C. execute promotions.
D. forecast sales.
D) Forecast sales: An invoice is the formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc. By analyzing past sales records such as invoices, a business can determine what its customers are buying, when they are buying, and how much they are buying.
What is often the best way for a business to increase its profit?
A. Lower taxes
B. Raise prices
C. Reduce expenses
D. Improve sales
C) Reduce expenses. Decreasing expenses is perhaps the best way that businesses can help increase profit. Businesses have control over many of their expenses and can take measures to reduce them. For example, they can eliminate some free services and encourage workers to turn off lights and equipment when not being used, in order to save money on energy costs.
In an ancient society, townspeople used cows to pay for the things they needed. The cows are an
example of __________ money.
A. commodity
B. representative
C. fiat
D. paper
A. commodity
What did Mr. Grise used to work as?
A) Ice cream truck driver in downtown Vancouver
B) Ferris wheel operator at a summer carnival
C) Tram operator at Grouse Mountain ski hill
D) Elevator technician in a high-rise office building
C) Tram operator at Grouse Mountain Ski Hill
Limited liability, indefinite length of life, ease of expansion, legal entity, and transfer of ownership are considered advantages of a:
A. sole proprietorship.
B. partnership.
C. trade union.
D. corporation.
D) Corporation: Corporations are advantageous due to the separate legal body that is created by a state charter. The charter limits individual liability, allows for permanency of existence, ease in transferring ownership, and a greater number of resources for financial growth.
Which of the following is an item that is subject to an excise tax:
A. Prescription medication
B. Carton of eggs
C. Ski boat
D. Business computer
C) Ski Boat: An excise tax is a special government tax on certain nonessential and luxury items.
One way that a business might try to compensate for the limited number of qualified workers is to increase its use of:
A. specialization.
B. conservation.
C. production.
D. automation.
D) Automation. Automation is the use of robots or other automatic equipment to do certain tasks. A business might make up for the shortage of qualified workers by relying more on the use of automated equipment or machinery. For example, the use of automatic phone systems often eliminates the need for a business to hire experienced phone operators.
What type of law prevents salespeople from one company from interfering with their competition's
activities?
A. Warranty liability
B. Product safety
C. Consumer credit
D. Unfair trade
D. Unfair Trade
Which facts about Ms. Hendry are true?
A. She plays the accordian.
B. She collects antique stamps.
C. She makes her own maple syrup.
D. Her furthest golf swing is 200 yards.
A and C !!!