Business 101

Business 101

12th Grade

•

42 Qs

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Business 101

Business 101

Assessment

Quiz

•

Business

•

12th Grade

•

Practice Problem

•

Medium

Created by

DAYLA M OWNBY

Used 2+ times

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42 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What are the primary functions of business management?

Planning, organizing, controlling
Strategizing, communicating, planning
Finance, operations, management
Marketing, accounting, human resource management

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The standard of living for a nation’s people depends mainly on

the quality of the natural environment
how much political freedom they have
their incomes and the prices of the good and services they buy
the amount of labor and capital available employed in the manufacturing sector

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The total value of final goods and services produced within a nation’s borders in a given year is known as that nation’s

aggregate production quota
aggregate domestic output
index of aggregate economic output
gross domestic product

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The nation of Tryland has seen the total value of the goods and services it produces increase rapidly over the past year. What is the most likely result of this change?

A rise in Tryland’s GDP
A rise in Tryland’s CPI
A rise in Tryland’s unemployment rate
A decline in the number of workers who are structurally unemployed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following statements about government deficit spending is most accurate?

Although the government used to run big deficits, it has consistently run surpluses since the late 1980s.
One reason the government has a hard time reducing deficits is that there is a great deal of pressure on the government to increase its spending each year.
The federal government violates the law by running deficits because the Constitution requires the government to balance its budget each year.
The government has used deficit spending to lower the national debt.

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What measure is used to report price changes at the wholesale level?

Gross domestic product (GDP)
Consumer price index (CPI)
Wholesale price index (WPI)
Producer price index (PPI)

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Jack is the sole proprietor of a gift shop in a small shopping center. Any profit Jack's business earns is

totally tax-free
taxed only as Jack's personal income
taxed only if and when it is distributed to investors
taxed twice, once as business income, then again as Jack's personal income

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