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2.04
2.01
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100
To choose
ABC Corporation is attempting to buy out its only competitor but a lawsuit has been filed declaring that the transaction may lead to a monopoly. Which customer right might the corporation be violating? (A) To Choose (B) To service (C) To safety (D) To consumer education
100
Facilities management
John renovated his restaurant to reflect the retro style of 1950. This is an example of which type business operation? (A) facilities management (B) Logistics (C) Safety and security (D) Scheduling
100
Control of decisions
Tami prefers working alone in her auto body and being in control of the daily activities. This type of business ownership ADVANTAGE over corporation is: (A) control of decisions (B) limited capital (C) limited life (D) unlimited liabiltiy
100
Laissez-faire
Harry checks his electronic calendar for tasks assigned by his boss regularly. He very seldom sees his boss. This is an example of which style of leadership? (A) autocratic (B) democratic (C) laissez-faire (D) objective
100
facilities management
John renovated his restaurant to reflect the retro style of 1950. This is an example of which type of business operation? (A) facilities management (B) logistics (C) safety and security (D) scheduling
200
To be heard
A sales associate discourages customers from reporting complaints regularly. Which right of the consumer bill of rights is the associate possibly violating? (A) to be heard (B) To service (C) to safety (D) to consumer education
200
Mass production
Hanes upgrades production routinely to produce thousands of items daily. Which type of manufacturing procedure will Hanes perform to keep up with production? (A) Custom manufacturing (B) Extraction (C) Mass production (D) Materials processing
200
Partnership
Hank has ownership, even without liability over his initial investment, along with George for a local business. This is an example of what type of business ownership? (A) cooperative (B) corporation (C) partnership (D) sole proprietorship
200
democratic
Vera accepts input from her employees annually about the upcoming budget. This is an example of which style of leadership? (A) autocratic (B) democratic (C) laissez-faire (D) objective
200
mass production
Hanes upgrades production routinely to produce thousands of items daily. Which type of manufacturing procedures will Hanes perform to keep up with production? (A) custom manufacturing (B) extraction (C) mass production (D) materials processing
300
Intellectual property protection
Jane's trademark of letters and design receives which government service? (A) Contract enforcement (B) environment protection (C) Intellectual property protection (D) safe work environment
300
Materials processing
Goodyear uses rubber to produce tires of cars, SUV's, and trucks. Which type of manufacturing procedure is performed? (A) Custom manufacturing (B) Extraction (C) Mass production (D) Materials processing
300
85
James purchased 85 shares of stock in the Microsoft Company. How many votes will she have at the next stockholder's meeting? (A) 1 (B) 5 (C) 85 (D) none
300
strategic
Keisha allowed her employees to plan the expansion project. This is an example of which style of management? (A) mixed (B) strategic (C) tactical (D) varied
300
How to produce
Jewel Manufacturing Company changed its production line to include more workers and decrease production time. Which economic question does this address? (A) for whom to produce (B) how to produce (C) what to produce (D ) when to produce
400
$1,200.00
An agency allots 3% of its $40,000 budget to sponsor workshops for managers about the importance of job safety. What amount of its budget is used for the workplace? (A) $12.00 (B) $120.00 (C) $400.00 (D) $1,200.00
400
Custom manufacturing
Draperies, Inc. finished organic cotton drapes for the local theater on Walnut Street. Which type of manufacturing procedure was performed? (A) Custom manufacturing (B) Extraction (C) Mass production (D) Materials processing
400
corporation
Even though a company may sell share of stock, it relies on a central body of people for financial directions. This is an example of what type of business? (A) cooperative (B) corporation (C) partnership (D) sole proprietorship
400
planning
Michelle reviewed survey results of a completed project and set goals for the new project. This is an example of which function of management? (A) controlling (B) organizing (C) planning (D) staffing
400
acting on a choice
Tony organized all the automobiles that he has decided to sell at his dealership. Which part of economic decision-making process has he performed? (A) defining the problem (B) evaluating advantages/disadvantages (C) choosing one choice (D) acting on a choice
500
Job safety
The Dow Chemical Company provides all employees natural fitting equipment to eliminate injuries. Which social responsibility is this company addressing? (A) Employee wellness (B) Environment protection (C) Job safety (D) Workplace diversity
500
Extraction and cultivation
The Valero Company removes oil from the earth to be advanced. What type of production is performed? (A) Extraction and cultivation (B) Manufacturing (C) Mass production (D) Processing
500
partnership
Carlos ignores minor decisions in his business even though his name is on the sign as one of the owners. This is an example of what type of business ownership? (A) corporation (B) franchise (C) partnership (D) sole proprietorship
500
mixed
Jason decided for long-term projects that he would allow employees to give input and for daily routines he would determine the necessary duties. This would be an example of which style of management? (A) mixed (B) strategic (C) tactical (D) varied
500
prosperity
A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle does this report describe? (A) depression (B) prosperity (C) recession (D) recovery