The amount that a company must pay to either borrow money or to owners as a return on their investment called:

• a. the vig
• b. cost of capital
• c. inflation rate
• d. discount rate

The process of coordinating people and other resources to achieve the goals of an organization is called:

• a. Strategic Planning
• b. Management
• c. Controlling
• d. Supervision

___________________ involves creating a vision for others to follow, establishing corporate values and ethics, and transforming the way an organization does business so that it is more effective and efficient.

• a. Organizing
• b. Production management
• c. Tactical planning
• d. Leadership

Generally, when the money supply (M1) grows faster than the economy itself, the result is:

• a. Inflation
• b. Unemployment
• c. Supply
• d. Economic growth

Which of the following is NOT a core activity in a supply chain?

• a. Inbound logistics
• b. Outbound logistics
• c. Procurement
• d. Retail management

A body of enforceable rules and principles of conduct is known as:

• a. Law
• b. Legal system
• c. Judicial branch
• d. Common law

The business plan should contain a section that describes the purpose of the business, the reason for it to exist.

• a. Values
• b. Goals
• c. Competitor analysis
• d. Mission Statement

Production Processes Add.....

• a. Need for more employees.
• b. Increased complication.
• c. More opportunity for forecasting.
• d. Value to the product.

____________ is the process of evaluating human resource needs and then recruiting, selecting, developing, motivating, evaluating, compensating, and scheduling employees to achieve organizational goals.

• a. Staffing
• b. Performance evaluation and response
• c. Human resource management
• d. Job analysis

What is exporting?

• a. When a company ships a product to a retailer.
• b. When a company ships product to another city in the same country.
• c. When a company ships a product to another country.
• d. When a company brings a product into the country for production.