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Review Question Lecture 1 & 2

Authored by ARIE WIDYASTUTI

Business

1st Grade

Used 2+ times

Review Question Lecture 1 & 2
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12 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following is not a product? 

Business profit

A lawyer's advice in a divorce case

A Dell personal computer

A veterinarian's treatment of a pet's injuries

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Customers, employees and investors are examples of: 

shareholders

organizations

stakeholders

constituents

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

In a socialist system, citizens are dependent on _________ for many goods and services

the people

businesses

supplies

the government

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When businesses can promote different features of their products and consumers are willing to pay more for products containing the features they desire, the competitive environment is probably 

monopoly

oligopoly

pure competition.

monopolistic

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Agricultural commodities are usually sold under which competitive environment? 

monopoly

monopolistic competition

oligopoly

pure competition

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

________________ can be harmful if individuals' incomes do not increase at the same pace as rising prices because it reduces their buying power. 

economic expansion

economic contraction

deflation

inflation

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An operation manager is not likely to be involved in

the design of goods and services to satisfy customers' wants and needs

the quality of goods and services to satisfy customers' wants and needs

the identification of customers' wants and needs

work scheduling to meet the due dates promised to customers

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