BS Unit 1

Which of the following best defines business psychology?

• The study of employee performance and motivation

• The application of psychological principles to enhance business processes

• The study of consumer behavior in retail environments

• The management of human resources in organizations

What was one of the major economic consequences of the COVID-19 pandemic, as discussed in the document?

• Increasing global industrial productivity

• Largest global economic crisis in a century

• No significant economic changes

• Shift to a cashless economy

In what way did the UK respond to the economic challenges caused by the pandemic?

• By reducing taxes on corporations

• By launching a job retention scheme to furlough jobs

• By closing non-essential businesses permanently

• By encouraging layoffs to save the economy

What is the main relationship between business psychology and economics, as mentioned in the document?

• Business psychology deals with marketing, while economics focuses on finance.

• Business psychology helps in understanding and optimizing human behavior in economic activities.

• Business psychology has no direct link to economics.

• Economics determines human behavior, while business psychology focuses only on individual well-being.

How is human behavior viewed in relation to the economy?

• As a byproduct of technological development

• As an integral part of economic processes, creating and maintaining the economy

• As irrelevant to economic structures

• As a variable influenced only by market conditions

What does talent management in business psychology primarily focus on?

• Identifying leadership potential within companies

• Improving the company's financial performance

• Selecting the best candidates for specific roles within the organization

• Creating consumer marketing strategies

In what way can psychology improve Business-to-Customer (B2C) relations?

• By encouraging impulsive buying behavior

• By developing better communication strategies and understanding customer needs

• By eliminating the need for customer service

• By predicting customer complaints in advance

What role does business psychology play in leadership development?

• Recruiting team members for projects

• Providing training to enhance leadership qualities and decision-making

• Identifying economic trends

• Managing the day-to-day operations of a business

Which of the following is NOT a core area of business psychology?

• Organizational culture and change management

• Team building and communication

• Investment portfolio management

• Employee performance and well-being

Which of the following does business psychology attempt to optimize in employees?

• Their understanding of economic theory

• Their physical performance

• Their efficiency, satisfaction, and motivation

• Their access to financial benefits