Intro to Business - Unit 1 Test Review

Which business type takes raw materials from the earth?

• Processor

• Producer

• Service Firm

• Manufacturer

Which of the following is an example of a producer?

• Farming

• John Morrells

• General Motors Company

• Facebook

Businesses are categorized by which of the following?

• Where they are located.

• The number of workers that they have.

• How much money they make.

• The work they perform.

Human Resources would help with all of the following except...

• The hiring process.

• Planning the daily functions of the business.

• Orientation of new employees.

• Training and development of the staff.

Jackie trains hard for a 1/2 marathon to win a $100 Scheels gift card prize.

• Intrinsic motivation

• Extrinsic motivation

Noah spends his Sunday afternoon putting together a puzzle since he finds puzzles fun.

• Intrinsic motivation

• Extrinsic motivation

The 4 components of the Marketing Mix are Product, Price, People, and Place? False True

• False
• True

What is the most common form of business ownership?

• Corporation
• Company
• Sole Proprietorship
• LLC

What is the name of a person who owns part of a corporation?

• Stakeholder
• Shareholder
• Trust Agent
• Chairman

This type of business is subject to many more laws and are more difficult to form.

• Proprietorship
• Partnership
• Corporation
• Franchise