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WorksheetsSemester Assessment
Total questions: 75
Worksheet time: 1hrs 1mins
What is the Legal System?
Unethical business practices may lower a company’s stock prices because
investors prefer companies they perceive to be ethical
the government fines unethical companies
employees resign from unethical companies
unethical companies usually go bankrupt
Ethical Issues: Business people are expected to refrain from knowingly deciving, misrepresting or intimidating others
Communications
Conflict of Interest
Fairness and Honesty
Organizational Relationships
A business with poor ethics is likely to
avoid fines
beat the competition
decrease its financial risk
lose customers
Effective managers always find a way to make decisions with which every employee agrees.
True
False
Good leaders understand that they cannot treat all employees alike.
True
False
Ethical behavior involves all employees, not just a company’s executives and managers.
True
False
Which of the following is NOT a good way to develop leadership skills?
participate in organizations and activities
never ask for help from co-workers to prove you have the necessary skills
observe leaders
practice leadership at work
Income earned from employment or self employment
Wage
Earned Income
Salary
Piecework
Payment for work (often weekly or every other week)
Wage
Minimum Wage
Bonus
Piecework
The lowest hourly wage employers can pay most workers by law
Minimum Wage
Wage
Overtime Wage
Salary
Paid to eligible workers who work more than 40 hours per week
Overtime Wage
Bonus
Tips
Commission
Fixed payment for work (expressed as an annual figure)
Salary
Wage
Commission
Bonus
How many hours are in a typical work week?
40
30
26
35
Total Income before deductions
Gross Pay
Net Pay
G.E.T Pay
Payroll
What are 3 examples of mandatory deductions from gross pay?
FICA taxes, State taxes, and Federal taxes
Payroll tax, Insurance premiums, and Healthcare
State taxes, Federal taxes, and Insurance premiums
Income tax, FICA taxes, and Insurance premiums
Internal Revenue Service use your Social Security Number as your Tax Identification Number
TRUE
FALSE
Who would pay more in taxes?
Single person
Married person with 1 child
Married person with 3 children and takes mother depends on their income
Number assigned by the IRS for businesses to use for income tax purposes.
(a)
Legally binding agreement between two or more people or businesses
(a)
Regulates how contracts are written, executed, and enforced.
(a)
Order to remove or repair unsafe products in the market.
(a)
Basic expectations of fair treatment of consumers.
(a)
Product design and product packaging are types of trade mark dressing for your product.
true
false
Is the shape of Hershey’s Kisses® chocolate a registered trademark?
Yes
No
A registered trademark identifies which of the following:
the goods owned and created by a company or individual
copies or replicas made to look like another product
A US trademark can last as long as the owner still uses it.
true
false
Which of the following indicates that a trademark is registered? (check one)
Which of the following has a registered trademark?
McDonalds
Starbucks
Intellectual property includes the following:
trademarks
copyrights
patents
trade secrets
All of the these options
Mickey Mouse ears are trademarked and owned by Disney.
True
False
Qualities of a good leader encourages others to think (a) the box.
Assigning tasks and/or responsibilities to group member is called
defining
deassigning
describing
delegating
Critical Thinking looks like thinking that is (a)
A synonym (word that means the same) for the Leadership Skill
COLLABORATION
is
Conflict
Icebreaker
Individuality
Teamwork
•Seeking solutions to problems instead of reacting
•Following through on promises
•Completing tasks correctly and on time
•Doing the right thing
Collaboration
Responsibility
Teamwork
Conflict Resolution
Gives advice
Boss
Leader
What are the two types of S.M.A.R.T. goals?
Hard and Easy
Real and Unreal
Long Term and Short Term
Rick and Morty
Laissez-Faire
What would a leader do if they found a kid acting up in the bathroom?
Leave and ignore it
Acknowledge the poor behavior and tell them that is not how we behave in the rest room.
Goof around too
Run down the hallway to tell on them
What would a leader do if they had a teammate that was struggling with their game?
Tell the coach you don't want them on the team
Make fun of them when they fail
Show them how to improve what they are doing and encourage them to be positive
Ignore them, it isn't your problem
Theory X & Theory Y is about :
How workers feel about themselves
How managers feel about themselves
How managers believe the workers are
None of the above
Theory X example
Employees need to be controlled and managed
Employees are self-motivated
Which type of leadership style involves the manager making all the decisions?
Laissez-faire
Autocratic
Democratic
Which type of leadership style involves managers and employees working together in unison to make decisions?
Democratic
Laissez-faire
Autocratic
What does S stand for in SWOT?
small
strong
strengths
slow
What does W in SWOT stand for?
weaknesses
wrong
weather
wide
Which elements are EXTEARNAL (outside of the business)?
weaknesses and strengths
opportunities and strengths
opportunities and threats
strengths and weaknesses
Natural resources are?
Resources that exist within the environment without humans having to intervene, or put them there.
Resources that exist within the environment through due to human actions.
Organic substrates found deep within the earth's lithosphere
An energy resource is renewable if?
It can cycle through it's lifetime.
Humans have enough of it for future generations.
It can replace itself naturally, such as trees or wind.
Which of the following is NOT a natural resource?
wood
cotton
oil
plastic
coal
What is it called when countries depend on each other for products?
labor
market
interdependence
specialization
Who is in charge of Monetary Policy
The Government
The Federal Reserve System
The states
The Department of the Treasury
These are people who start new businesses to seek profits.
consumers
entrepreneurs
modified free enterprisers
Rivalry between sellers is best known as
Profit motive
Competition
Freedom to choose
Which of these best describes the law of demand?
if prices go up, quantity demanded will fall and if prices go down, quantity demanded will go up
if prices go up, quantity demanded will also go up and if prices go down, quantity demanded will also go down
there is no law of demand, each situation is unique and demand and prices cannot be predicted
prices will go up for certain goods when quantity demanded goes up and vice versa
Elasticity refers to
how producers of goods and services react to price changes
how consumers of goods and services react to price changes
how far a supply of scarce goods can be stretched
how often the price of a good or service changes when quantity demanded changes
A type of savings that signifies that you own a part of a corporation and a claim to their assets and earnings.
Stock
Share
Dividend
none is correct
The owner of a companies shares.
Businessman
Bond master
Broker
Shareholder
An amount of money paid by a company regularly to it's shareholders
Profit
Bonds
Dividends
Cash back
Money borrowed for a project where their price is a function of the law of supply and demand. People who buy these ______ are lending money for a project.
Share
Mutual funds
Bonds
Capital
In working with a team you need something called 'interpersonal skills". What are they? What is two examples of these skills?
Create a Smart goal for your future. What does smart goals stand for?
In one or two sentences describe what the Equal Opportunity Laws are for.
Environmental Law are becoming more and more prevalent in today's society what is one example of the use of the Clean Air Act? Why is it so important?
(This is a long answer)
There are three forms of communication skills; what are they? How do they help you in your daily life?
What is another form of investment that stood out to you? Do you think you will try to invest in the future? Why or Why not?
(This is a long answer)
What is the difference between Stocks and Bonds?
Inventory is critical in the world of business, what are 3 reasons why keeping a well documented inventory is important.
(This is a long answer)
