The government can borrow money from the private sector in order to pay the costs of regulation by:

One reason that has caused the government's role in business to expand is that:

If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity level?

The productivity of an individual worker can be measured by:

The formula that is generally used to measure productivity is:

At PME Company, four employees worked 25 hours a week and produced 4,200 products. What is the total hourly production output?

In a private enterprise economic system, the interaction of supply and demand primarily determines:

In business terms, what is profit?

Which is a problem associated with communist command economies?

What is a business's net profit if it has $762,750 in income, $291,400 in operating expenses, and $238,930 in cost of goods?

A major characteristic of a market economy is which type of ownership of property?

When manufacturers give back part of the purchase price of an item to the customer, the manufacturers are engaged in:

Countries whose governments provide citizens with free medical care, education, and other benefits often are referred to as which type of state?

Which represents a natural risk for the owner of a delivery service?

A business selects goods or services to sell. Which type of risk is this business using?

The basic role of the United States government is to:

A vendor is extending credit to the Jones Company in return for the Jones Company's agreement to use the vendor as the sole source of its supplies. What federal act is the vendor and the Jones Company violating?

For a business, income remaining after payment of expenses is:

Who decides how goods and services will be marketed in a private enterprise economic system?

Which is an example of a speculative business risk?

Which would customers need to present at the time of purchase to get money taken off the purchase price of the item?

A producer is someone who

Farms, mines, and lumber companies are examples of

A U.S. company would decide to offer its products in other countries as a reason to:

Businesses that successfully adapt to current market situations often realize that:

Which situation would most likely indicate the need to adapt to changes in the business environment?

If a business is not concerned about social responsibility, it is likely to:

A small-business owner whose business is a sole proprietorship is planning to “go global.” What method for going global would be best to recommend to the small-business owner?

Business ethics involve considering issues about what is:

Three primary factors that affect the organizational structure of a business include interpersonal relationships, tasks, and:

A group of individuals wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the expenses of operating the museum. Will the museum be a business?

Kim invests heavily in a marketing campaign to stimulate sales for her company. What type of management process is this an example of?

The two main divisions of the trade industry are:

Which is an example of ethical business behavior?

Which is an example of an economic factor that affects the business environment?

Which is a factor that affects the business environment?

Which affects the business environment because it provides the most options for consumers?

One reason why many small businesses develop an organizational design that requires a board of directors is because a board usually:

The owner of a small company decides to stock a new product. Which business activity should the owner use to inform potential customers about the new product?

Which factor has aided the most in creating a global business

environment?

Which change provides the most time utility for a consumer?

Which situations would cause prices to rise?

When prices increase, producers usually:

Which is a natural resource that can be renewed through people's efforts?

Equilibrium price of a good or service is determined by trial and error and exists when:

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?

A killing frost destroys 80% of Florida's citrus crop. This will most likely create:

The desire for which item(s) would be considered a noneconomic want?

A business that begins selling winter holiday decorations in late autumn is creating what type of utility?

Which occurs when the supply of individuals who are able and willing to work diminishes?

Which is an example of an economic service?

A local dry cleaner that also launders and presses shirts is selling:

One factor that might limit the human resources available for certain jobs is a/an:

Which is a reason that natural resources are considered limited?

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?

Which group of words best describes wants?

Which is an external factor that affects market price?

The usefulness of a product to consumers is referred to as product:

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:

What type of communication style is usually appropriate for evaluation or counseling interviews with employees?

To be able to explain and defend their ideas objectively to others, individuals usually need to have which type of effective skills?

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?

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?

Which is not a tool that people use when participating in discussions?

Which is an example of a textual graphic that is used in a business report?

Why is it often important to take notes during meetings or

presentations?

Jane had to write a letter of termination for one of her employees. Which aspect of business written communication is she using?

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?

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?

One way for businesses to obtain needed information efficiently is to:

Emma used her textbook to complete a study guide for her midterm exam in Spanish class. What type of source is the textbook?

The reason businesses obtain information usually is to apply it in order to:

Businesses assess their information needs to determine the type of information that will help them deal with:

Businesses evaluate the quality and source of the information they obtain to make sure the information is:

What do most businesses use to store information for future use?

Why is it important for businesses to store information for future use?

Which is the most efficient tool for gathering the external information that businesses need?

One of the purposes of information management is to provide businesses with the strategic information they need to:

Information management can be a challenge because:

Doug is 18 years old and has decided to run for president when he turns 35. He has set which type of goal?

In which part of a SMART goal would one track progress toward his/her outcome?

In the decision-making process, which step occurs after the need is determined?

When Delores is finding solutions for obstacles at her job, she is:

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:

The newly redesigned Toyota Corolla is an example of:

A paradigm innovation occurs when:

Which type of innovation occurs when the new product is released to the public?

After an employee collects the necessary facts, what is the next step that an employee should take to solve a problem?

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?

One way a business can reduce the risk of accidents in the workplace is by providing its employees with:

The primary reason that governments develop workplace health and safety regulations is to:

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?

Maintaining an inventory of supplies helps a business to:

Which question should be answered by the purchasing function?

Trey compares the prices offered by different vendors for the same goods and services. Which part of the purchasing process is Trey involved in?

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?

The first step in maintaining an inventory of supplies for the business is to:

Some businesses use an automatic reorder system to maintain an adequate:

By purchasing just the quantity of supplies that is needed, purchasing can: