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WorksheetsPOBF 1.00 - 5.01 Cumulative
Total questions: 86
Worksheet time: 43mins
Which occurs when the supply of individuals who are able and willing to work diminishes?
Capital goods become unlimited.
Capital goods become limited.
Human resources become limited.
Human resources become unlimited.
Which is an example of an economic service?
car stereo
tennis shoes
baseball glove
concert ticket
A local dry cleaner that also launders and presses shirts is selling:
industrial supplies.
specialty goods.
tangible items.
consumer services.
One factor that might limit the human resources available for certain jobs is a/an:
organized training program.
appealing company image.
good safety record.
inadequate pay level.
Which is a reason that natural resources are considered limited?
People lack training or skills needed to do a job.
Technology has advanced faster than training.
Some countries are unable to manufacture them.
The earth has certain boundaries.
Adrian and Bailey own a salon. Adrian is a nail technician and Bailey is a cosmetologist. Adrian gives Bailey a pedicure. Bailey gives Adrian a haircut. They do not pay money for the services provided. What does this demonstrate?
exchange
rationing
scarcity
trade-off
Which group of words best describes wants?
limited, changing, and compensating
unlimited, changing, and competing
limited, unchanging, and competing
unlimited, unchanging, and compensating
Which is an external factor that affects market price?
location of items in store
consumer buying power
number of items in stock
available credit terms
The usefulness of a product to consumers is referred to as product:
scarcity.
utility.
allocation.
consumption.
A farmer has 1,000 acres. He decides to plant apple trees on 800 acres and raise cows on the remaining 200 acres. If he wanted to raise more cows, he would have to reduce the amount of land allotted to growing apples. This is an example of:
distribution.
opportunity cost.
efficiency.
utility.
Which change provides the most time utility for a consumer?
staying open for business on the weekend
arriving at a product trade show early
shopping for a product in the morning
asking for early delivery of a product
Which situations would cause prices to rise?
The corn crop is unusually large one summer.
Insects destroy a large cotton crop.
Animal rights activists march in front of a fur store.
A newspaper article describes poor service provided by a hotel.
When prices increase, producers usually:
increase demand.
decrease supply.
increase supply.
decrease profits.
Which is a natural resource that can be renewed through people's efforts?
Water
Crude oil
Trees
Mineral deposits
Equilibrium price of a good or service is determined by trial and error and exists when:
research shows what the market will tolerate.
the amount supplied is equal to the amount demanded.
businesses total their costs and markup.
businesses compute the average selling price in the area.
A local dealership purchased 100 blue pickup trucks, but has only been able to sell three in the past five months. Because of the low demand for these trucks, the dealer has been forced to lower the sticker prices, creating which type of market for blue pickup trucks?
buyer’s
discount
seller’s
automotive
A killing frost destroys 80% of Florida's citrus crop. This will most likely create:
pure competition.
a buyer's market.
a seller's market.
inelastic demand.
The desire for which item(s) would be considered a noneconomic want?
a car
nutritious food
a walk
new clothing
A business that begins selling winter holiday decorations in late autumn is creating what type of utility?
time
place
form
possession
What type of communication style is usually appropriate for evaluation or counseling interviews with employees?
Casual
Formal
Routine
Technical
To be able to explain and defend their ideas objectively to others, individuals usually need to have which type of effective skills?
computer
technical
verbal
reading
Google has a relaxed atmosphere and believes that creativity comes from a stress-free workplace. What type of person is that company looking to hire?
analyzer
collaborator
controller
strategic
When Dawn answered the front desk telephone at her property, a female caller who sounded very upset said, "My daughter, Susan Smith, is staying at your hotel, and I need to reach her immediately because of a family emergency. Would you please give me her room number?" Dawn quickly answered, "Ms. Smith is in room 224. I will connect you." What did Dawn do wrong?
She forgot to listen attentively to the caller.
She did not take written notes about the call.
She gave out a guest's room number.
She did not answer the caller with enough courtesy.
In order to be understood on the telephone, a business's employees should always:
speak from notes.
use technical terminology.
enunciate clearly.
speak rapidly.
Individuals who are able to defend their ideas objectively provide others with:
personal opinions.
emotional information.
logical evidence.
unrelated statistics.
All calls coming into a business should end as pleasantly as possible in order to:
provide callers with accurate information.
make the best use of an employee's time.
help an employee get a good review.
leave a good last impression with callers.
When Steven asks questions in an open-minded way, he avoids:
stating his own opinion.
attacking someone else's idea.
suggesting a better way to do something.
mentioning the truth.
Which is not a tool that people use when participating in discussions?
Pointing out missing information
Sharing a personal experience
Building on someone else's comment
Helping the group summarize what has been said
Which is an example of a textual graphic that is used in a business report?
Pie chart
Pictograph
Map
Flowchart
Why is it often important to take notes during meetings or
presentations?
The audience needs something to do.
The speaker is difficult to understand.
This information will be needed later.
Writing keeps the mind focused.
When organizing information to present in a business report, it is effective to:
remain objective.
interpret the data.
develop an outline.
determine the purpose.
In history class, Dr. Smith is going over a timeline of the events that led up to World War II. Which note-taking strategy would work best?
charting
Cornell notes
mapping
outlining
Which is a reason why it is important to organize information before preparing a business report?
to investigate the cause of the problem
to understand the purpose of the report
to identify the target audience
to arrange findings in a logical manner
Jane had to write a letter of termination for one of her employees. Which aspect of business written communication is she using?
indirect
information
negative
persuasive
The accounting department at the shoe store has not received payment from a customer. Which would be the best form of business communication to use in this situation?
conversation in person
letter
memo
phone
A business that writes letters to customers to confirm their orders or requests should make sure that the letters contain:
product ratings and grades.
all the necessary information.
exchange rates.
a map of all business locations.
As Kevin edits a professional report, he is not sure whether to italicize or underscore a book title. To obtain the correct information, Kevin should:
refer to the appropriate publisher's style manual.
ask his coworker for advice.
look up the information in a current dictionary.
identify the readers' preferences.
Which is a formatting characteristic of a full-block business letter?
double-spacing within the paragraph
no paragraph indents
indented first paragraph
using a right justification for all paragraphs
The project manager sent a memo to her/his team outlining the project goals and task items to achieve the goals. Which aspect of business written communication is being used?
indirect
information
persuasive
results oriented
Terry is sending a letter to one of his most important clients about upcoming investment opportunities. He wants to make sure that he has included all of the important information that his client will need to make an investment decision. What professional characteristic is Terry concerned with?
clear
concise
complete
correct
The following information appears at the end of all of Molly's outgoing emails:
----------------------------------
Molly S. Green
Assistant Manager
The Creekside Cafe
4422 Clear Creek Road, Danville TN, 44882
msglenn@creeksidecafe.com
------------------------------------------------
This information is Molly's e-mail:
carbon copy.
attachment.
signature.
etiquette.
The primary reason the business benefits when salespersons practice good customer relations is that it:
develops repeat customers.
prevents customer objections.
promotes quality service.
segments the business's market.
Which is a characteristic of good customer service?
asking many questions
offending people
offering quality service
taking a long time to reply
When businesses need to formalize the information provided to employees, customers, or other businesses, they often use which type of communication?
upward
lateral
written
verbal
The primary reason customers give for not returning to a business is a lack of:
courtesy from salespeople.
available parking.
advertised merchandise.
customer-service personnel.
It is easier for employees to develop positive customer/client relations if employees understand that each customer is:
a possible problem.
a unique individual
in a hurry.
like most others.
One way a business can reduce the risk of accidents in the workplace is by providing its employees with:
safety training.
electronic data interchange (EDI).
supply manuals.
weight-loss programs.
The primary reason that governments develop workplace health and safety regulations is to:
protect employees from injury and illness.
reduce the risk of employment discrimination.
ensure that employees have access to insurance.
prevent the breach of business information systems.
Primetime Incorporated is a retailer of sporting gear. It sells 500 pairs of a specific Nike sneaker each day. Nike, the supplier, takes a week (7 days) to deliver the order. For what quantity should the inventory manager place his/her next order?
72 units
350 units
3,000 units
3,500 units
Maintaining an inventory of supplies helps a business to:
establish sales goals.
operate efficiently.
locate vendors.
evaluate processes.
Which question should be answered by the purchasing function?
How can we inform customers of available merchandise?
How much merchandise should we buy?
How will merchandise be shipped to us?
How can we protect merchandise from pilferage?
Trey compares the prices offered by different vendors for the same goods and services. Which part of the purchasing process is Trey involved in?
price fixing
bid analysis
invoice payment
receipt of goods
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?
$493.22
$3,945.76
$2,278.64
$5,399.84
The first step in maintaining an inventory of supplies for the business is to:
conduct research to find vendors that sell the supplies.
develop a list of supplies that the business needs.
compare prices among vendors.
organize a space to store the supplies.
Some businesses use an automatic reorder system to maintain an adequate:
budget for expenses.
work environment.
inventory of supplies.
maintenance system.
By purchasing just the quantity of supplies that is needed, purchasing can:
plan the company's cash flow.
provide an uninterrupted flow of supplies.
buy supplies at the lowest possible price.
minimize inventory investment.
What production activity evaluates products to make sure that the products the business produces meet certain quality standards?
form utility
automation
follow-up
standardization
What is one of the most important components of the production process?
new technology
goods and services
human resources
inputs and outputs
Which processes turn economic resources into goods and services?
distribution
marketing
promotion
production
Which is a benefit of putting one's goals in writing?
makes the goals attainable
develops one's perseverance
clarifies the goals
provides a challenge
Jessie is designing a new style of bracelet to sell at school to raise money for FBLA. She has sold so many bracelets that she has assigned other members of FBLA to assist her in making the bracelets. Which production activity step is this?
planning
purchasing
production
dispatching
Which is a example of a short-term objective?
becoming president of a large corporation
paying off a twenty-five-year mortgage
finishing a six-week computer software course
becoming fluent in a foreign language
Doug is 18 years old and has decided to run for president when he turns 35. He has set which type of goal?
long-term
short-term
unattainable
unrealistic
In which part of a SMART goal would one track progress toward his/her outcome?
specific
measurable
realistic
timely
In the decision-making process, which step occurs after the need is determined?
acting on the decision
considering the choices
gathering the information
making a decision
When Delores is finding solutions for obstacles at her job, she is:
decision-making.
inventing.
innovating.
problem-solving.
Several employees are facing the possibility of being laid off from work. By concluding that they should look for new jobs before that happens, they are:
solving problems.
doing research.
asking questions.
gathering information.
The newly redesigned Toyota Corolla is an example of:
product innovation.
process innovation.
position innovation.
paradigm innovation.
A paradigm innovation occurs when:
major shifts in thinking cause change.
processes are being improved to generate benefits.
the product is marketed in a different way.
there are improvements on the product.
Which type of innovation occurs when the new product is released to the public?
paradigm
position
product
process
After an employee collects the necessary facts, what is the next step that an employee should take to solve a problem?
analyze the information
define the problem
act on assumptions
make a decision
Shannon's best friend has been excluding her lately. They were supposed to go shopping together, but her friend called and canceled. Shannon is upset about it. This is an example of which type of problem?
peer
work
school
professional
Employees who have innovation skills are able to:
socialize effectively.
behave aggressively.
react to problems.
think in new ways.
Which is an internal factor that might influence a business owner's decision making?
opinions of others
competitors' activities
comfort with risk
market share
An important problem-solving skill for individuals to have is the ability to be:
aggressive.
objective.
economical.
judgmental.
One way for businesses to obtain needed information efficiently is to:
contact a competitor.
schedule an interview.
read a book.
access a database.
Emma used her textbook to complete a study guide for her midterm exam in Spanish class. What type of source is the textbook?
formal
historical
primary
secondary
The reason businesses obtain information usually is to apply it in order to:
determine a need.
develop a database.
accomplish a task.
evaluate a source.
Businesses assess their information needs to determine the type of information that will help them deal with:
ethical issues.
job applicants.
personal relationships.
specific problems.
Businesses evaluate the quality and source of the information they obtain to make sure the information is:
random.
scientific.
technical.
useful.
What do most businesses use to store information for future use?
CD-ROMs
computer systems
display screens
scanners
Why is it important for businesses to store information for future use?
to make it accessible
to interpret data
to establish quality control
to protect it from overuse
Which is the most efficient tool for gathering the external information that businesses need?
library
Internet
software
textbooks
One of the purposes of information management is to provide businesses with the strategic information they need to:
create sales presentations.
develop a short-term advertising campaign.
make long-term decisions.
write an annual report.
Information management can be a challenge because:
there is often not enough information to manage.
many people do not understand what it is.
there is only one “right” way to do it.
no one wants to participate in it.
Which is a true statement about a management information system (MIS)?
It may be one part of a business's overall information management program.
It is the same thing as an information management program.
It does not assist with a business's information management
program.
It includes people, processes, and practices.
