Chapter 1: Exploring the World of Business and Economics

Chapter 1: Exploring the World of Business and Economics

11th Grade

20 Qs

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Chapter 1: Exploring the World of Business and Economics

Chapter 1: Exploring the World of Business and Economics

Assessment

Quiz

Business

11th Grade

Practice Problem

Medium

Created by

Christie Milam

Used 9+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A person must own stock in a corporation to be considered a stakeholder.

True

False

Only if the person owns a majority of the stock

Only employees can be considered stakeholders

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which four resources must a business use to operate successfully?

Material resources, human resources, financial resources, operational resources

Human resources, technological resources, financial resources, customer resources

Material resources, financial resources, informational resources, customer resources

Human resources, financial resources, informational resources, operational resources

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Today, managers and employees are no longer concerned about cultural diversity.

True

False

Only in certain industries

Only in multinational companies

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The ultimate goal of every business firm should be to satisfy the needs of its customers.

True

False

It depends on the business model

Only if the business is customer-oriented

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

If a firm's sales revenue exceeds its expenses, the firm has earned a profit.

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to Adam Smith, under laissez-faire capitalism, everyone should be allowed to work toward their own economic gain without government interference.

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Reducing costs and enabling employees to work more efficiently are at the core of all attempts to improve productivity.

True

False

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