Business Management Final Exam Review - Part 2

Front

The demand for a product refers to

Back

the number of similar products that will be bought at a given time at a given price

Front

The quantity of products produced within a given time is known as

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output

Front

In the United States, starting a small business

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is fairly easy

Front

Which of the following statements is usually true about work teams? Options: As quality of work increases, morale decreases., As quality of work decreases, morale increases., As quality of work increases, morale also increases., As quality of work decreases, morale also decreases.

Back

As quality of work increases, morale also increases.

Front

Which of the following statements about the treatment of employees is not true? Employees want more variety in their work., Employees want to participate in decisions affecting their work lives., Employees want to participate in wellness programs., Employees want less on-the-job responsibility.

Back

Employees want less on-the-job responsibility.

Front

An example of ethical behavior is: using company resources for personal use, accepting secret business gifts, keeping company information confidential, invading employee privacy

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keeping company information confidential

Front

Which statement is most accurate about demand? Options: If demand drops, profits drop., If demand increases, profits drop., If demand drops, profits increase., If demand drops, profits are not affected.

Back

If demand drops, profits drop.

Front

Which one of the following statements is true about entrepreneurs? Entrepreneurs would rather work for others., Entrepreneurs prefer to assign the decision-making responsibility to employees., Entrepreneurs usually work hard and for long hours., Entrepreneurs usually give up quickly when their businesses are not immediately successful.

Back

Entrepreneurs usually work hard and for long hours.

Front

Which of the following characteristics does not generally apply to entrepreneurs? Options: They prefer consensus decision-making., They start businesses in fields they are experienced in., They are less interested in profit than in challenges., They rarely launch a new business after an unsuccessful start-up.

Back

They start businesses in fields they are experienced in.

Front

The process of starting a business begins with a

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business plan