Intro to Business

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Cultural diversity as it relates to business, represents:

• the differences among people in the workforce
• a technical skill
• a business theory that is no longer valid
• a statistical method used to project sales revenue and profit for global companies

Of the following skills, which is not considered a basic management function necessary to be an effective manager:

• leading & motivating
• planning
• selling
• controlling

Public utility companies are often referred to as:

• sole propreitorships
• socialistic competitors
• oligopolies
• monopolies

The concept of sustainability focuses on which of the following?

• The maximization of profits for the company and its employees.
• The ability to maintain or improve standards of living without damaging natural resources for present and future generations.
• The needs of future employees.
• The needs of the government in the future.

The Consumer Price Index (CPI):

• is a monthly index that tracks the prices paid by consumers.
• measures prices paid during periods of deflation.
• is a quarterly index that producers receive for their finished goods.
• measures increases or decreases in the level of worker performance.

The study of an individual's economic decisions would be an example of:

• monetary policy
• fiscal policy
• microeconomics
• macroeconomics

The total dollar value of all goods and services produced by all people within the boundaries of a country is called:

• gross national product
• productivity rate
• gross domestic product
• inflation factor

A business provides goods and services in exchange for sales revenue and profits.

• True
• False

A depression is a severe recession that lasts longer than a recession.

• True
• False