WorksheetsPBF Exam Review 2
Total questions: 30
Worksheet time: 15mins
Name
Class
Date
1.
One way a business can reduce the risk of accidents in the workplace is by providing its employees with:
a)
Safety training
b)
Electronic data interchange (EDI)
c)
Supply manuals
d)
Weight-loss programs
2.
Which of the following was one of government's original roles in business:
a)
Regulating technology
b)
Acting as a referee
c)
Ensuring a business's profitability
d)
Protecting the environment
3.
Government is involved in settling business disagreements through the use of
a)
Force
b)
Negotiation
c)
Fines
d)
Courts
4.
One of the reasons that has caused government's role in business to expand is that
a)
People's attitudes have changed
b)
Products have become very technical
c)
Costs of production have continued to increase
d)
Competition in the marketplace has increased
5.
The goals of government are to protect the rights of individuals and businesses and to provide a stable environment, but the main goal of business is to
a)
Make a profit
b)
Save the environment
c)
Provide the best products
d)
Provide a safe working environment.
6.
Government uses some of the tax money it collects from individuals and businesses to support public welfare programs. What is the benefit of these welfare programs to businesses in a private enterprise economy?
a)
Recipients don't have to work
b)
Businesses must budget more money for taxes
c)
Funds received by recipients are spent in businesses
d)
Government has control of how the recipients spend their money
7.
Government tries to protect competition by
a)
Controlling the prices of products
b)
Restricting the production of certain products
c)
Regulating monopolies
d)
Preventing all monopolies
8.
Which of the following regulatory agencies would be concerned with price fixing and unfair competitive practices:
a)
National Labor Relations Board
b)
Consumer Product Safety Commission
c)
Federal Communications Commission
d)
Federal Trade Commission
9.
A restaurant fails to meet government regulations, so it loses its __________ and is no longer allowed to do business.
a)
License
b)
Price controls
c)
Tariffs
d)
Disposable income
10.
The two main sources of revenue used to pay the costs of government regulation are
a)
Business and labor
b)
Taxpayers and nontaxpayers
c)
Government and industry
d)
Taxes and borrowing
11.
Some businesses use an automatic reorder system to maintain an adequate:
a)
Budget for expenses
b)
Work environment
c)
Inventory of supplies
d)
Maintenance system
12.
Mark, who owns a small home-appliance store, is in the process of placing an order for 12 refrigerators, 8 stoves, and 4 portable dishwashers. Mark is purchasing the refrigerators for $674.98 each, the stoves for $493.22 each, and the portable dishwashers for $284.83 each. What is the total cost of the stoves that Mark is purchasing?
a)
$493.22
b)
$3,945.76
c)
$2,278.64
d)
$5,399.84
13.
By purchasing just the quantity of supplies that is needed, purchasing can:
a)
Plan the company's cash flow
b)
Provide an uninterrupted flow of supplies
c)
Buy supplies at the lowest possible price
d)
Minimize inventory investment
14.
Nina oversees the buying of goods and services for her company. Which business department does she likely work in?
a)
Selling
b)
Purchasing
c)
Transformation
d)
Negotiating
15.
Jeremiah purchases sterling silver necklaces and bracelets from Native American artisans and sells the items to jewelry stores and gift shops. What kind of buyer is Jeremiah?
a)
Wholesale
b)
Retail
c)
Industrial
d)
Business use
16.
Molly purchases raw materials for a factory that changes the shape or appearance of those materials through a process known as
a)
Affirmation
b)
Specification
c)
Transformation
d)
Negotiation
17.
Doormats, carpeting, telephones, and cleaning chemicals are all items that an office might buy for
a)
Production
b)
Business use
c)
Negotiations
d)
Competitive bidding
18.
In addition to purchasing, Sherita's job responsibilities include developing partnerships and alliances with suppliers, watching for business threats and opportunities, and looking for ways to improve processes. Sherita is involved in
a)
Strategic planning
b)
Negotiation
c)
Marketing planning
d)
Productivity
19.
What are two things that a purchasing specialist should consider when making a make-or-buy decision?
a)
The company's production capabilities and the sales of the finished product
b)
The cost of making the needed parts and the sales of the finished product
c)
The purchasing department structure and the marketing mix
d)
The company's production capabilities and the cost of making the needed parts
20.
If a purchasing specialist and a supplier discuss potential issues and ways to resolve them prior to making a purchase, what are the two parties doing?
a)
Transforming
b)
Bidding
c)
Negotiating
d)
Forecasting
21.
Why should a purchasing specialist evaluate supplier performance?
a)
To determine whether s/he should use the supplier again
b)
To assist in new product development
c)
To purchase items to sell to wholesalers and retailers
d)
To develop a purchase contract
22.
What is production?
a)
The selection of inputs for making outputs
b)
The process of assembling the factors of production
c)
The conversion process that results in time utility
d)
The creation of goods and services from economic resources
23.
The specific resources used in a company's production are called
a)
Inputs
b)
Consumer goods
c)
Outputs
d)
Conversion processes
24.
One of the benefits of production to consumers is that production\:
a)
Makes use of automation
b)
Provides a way to earn profits
c)
Creates form utility
d)
Provides a way to be competitive
25.
Which of the following is a true statement about production activities\:
a)
They vary depending on the product being created
b)
Most are considered difficult tasks
c)
They are not necessary for the success of the business
d)
They rely solely on capital resources
26.
The production activity used to obtain all the resources needed for production to take place is
a)
Routing
b)
Scheduling
c)
Purchasing
d)
Dispatching
27.
Which of the following is a characteristic of mass production\:
a)
It is considered inefficient
b)
It often uses assembly lines
c)
It produces one-of-a-kind items
d)
It is primarily used for small quantities
28.
Which production activity issues work orders telling employees what their job assignments are?
a)
Routing
b)
Dispatching
c)
Scheduling
d)
Following up
29.
Which processes turn economic resources into goods and services?
a)
Distribution
b)
Marketing
c)
Promotion
d)
Production
30.
Which is a benefit of putting one's goals in writing?
a)
Makes the goals attainable
b)
Develops one's perseverance
c)
Clarifies the goals
d)
Provides a challenge
100 %
