Business Concepts 2 - Fall 2018 - Final Exam Review

____________________ is the primary goal of business.

• Quality
• Charity
• Profit
• Quality
• Bureaucracy

Which of the following is an example of an intangible product?

• A movie DVD
• A music concert
• A sandwich
• A sports car
• Jewelry

Which of the following is a natural resource?

• People
• Capital
• Minerals
• Money
• Labor

A firm’s ____________ resources as also known as labor.

• Economic
• Natural
• Financial
• Mineral
• Human

___________________ is an economic system in which the government owns and operates basic industries.

• Egalitarianism
• Capitalism
• Collectivism
• Socialism
• Utilitarianism

Which of the following is a characteristic of communist economies in reality?

• Absence of corruption
• Critical shortages of consumer goods
• Low prices
• Excessive freedom
• High standards of living

Jasmine and Kevin are competing for a promotion. Hoping to sway her manager to promote her over Kevin, Jasmine gives her manager an expensive watch. This is an example of

• Misuse of company resources
• Dishonesty
• Bribery
• An acceptable gift
• Conflict of interest

Which of the following acts is associated with bullying?

• Buying or selling of stocks by insiders
• Discrediting others’ ideas and opinions
• Lobbying for or against someone
• Mediating as a third party
• Offering bribes

When Gwen used her company credit card to buy $50,000 worth of new furniture for her house, she was fired.  Which type of misconduct does this exemplify?

• Conflict of interest
• Misuse of company resources
• Misuse of company time
• Abusive behavior
• Bribery

___________________ is the transferring of manufacturing or other tasks--such as data processing--to countries where labor and supplies are less expensive.

• Importing
• Exporting
• Outsourcing
• Dumping
• Insouring