Business Management Concepts (Intro) (Entre)

Small businesses are sometimes referred to as which of the following?

• All in the family businesses

• Father and son businesses

• Family owned and operated

• Mom and pop businesses

The marketplace is the essence of which of the following?

• The selling process

• The manufacturing process

• The exchange process

• The marketing process

Which of the following is NOT a component of the production process?

• Creating products or services

• Growing products or services

• Manufacturing products or services

• Selling products or services

Industrial markets can change due to which of the following?

• Competitor’s prices

• The economy

• The company’s social responsibility

• Consumer behavior

Small businesses are responsible for what percentage of sales in the U.S.?

• 45%

• 54%

• 47%

• 57%

Which of the following is NOT considered good behavior where business ethics are concerned?

• Bait-and-switch advertising

• Fairness

• Truthfulness

• Taking into account the well-being of everyone involved

Business responsibility can include responsibility to whom, apart from simply following laws?

• The elderly

• The public school system

• Society

• The business world

Which law required automobile makers to modify engines to meet higher emission standards?

• Automobile Emission Act

• Clean Air Act

• Modified Engine Act

• Air and Water Pollution Act

Which agency enforces laws concerning air and water pollution?

• OSHA

• FDA

• CDC

• EPA

Which of the following is an example of a recycling program which does not deconstruct old products to make new ones?

• Tire recycling program

• Computer recycling program

• Plastic recycling program

• Glass recycling program