EOPA Practice Flashcard 1

Front

If a business conducts a SWOT analysis to decide whether or not to expand, which of the following would be categorized as an "O"? Options: There is the potential for increased profits, Company expenses have increased, Money is available for the expansion, New competition could enter the market

Back

There is the potential for increased profits

Front

The North American Free Trade Agreement (NAFTA) created a free-trade area for: Mexico and Canada, Mexico and the United States, Mexico, Canada, and the United States, Mexico, Guatemala, and Belize

Back

Mexico, Canada, and the United States

Front

Depreciation refers to

Back

the decrease in value over time for a fixed asset

Front

Two types of business partnerships are general and

Back

limited

Front

The main purpose of an effective performance evaluation is to

Back

help workers develop their strengths and work on their weaknesses

Front

A mission statement describes an organization's

Back

purpose or goal

Front

The best way to motivate workers to do a good job is: providing positive feedback to reinforce what they do correctly, providing negative feedback to discourage them from what they do incorrectly, making them compete against each other to encourage a spirit of achievement, acknowledging only group achievements rather than individual one to reinforce the team attitude.

Back

providing positive feedback to reinforce what they do correctly

Front

The term for research to determine factors, conditions, and characteristics of a market is

Back

market analysis

Front

Which of the following sentences is grammatically correct? Options: The injured accident victim was laying on the road until the ambulance arrived., Ann missed the meeting because she was lying in bed with the flu., We arrived their at 3 PM to begin the meeting., The manager busted into the wrong office by mistake.

Back

Ann missed the meeting because she was lying in bed with the flu.

Front

The business cycle refers to

Back

the repeated movement from good economic times to bad and back