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Worksheets

PBMF 2024 Mid-Term

Total questions: 50

Worksheet time: 25mins

Name
Class
Date
1.

Which of the following is NOT an employability skill?

a)

Ethical behavior

b)

Teamwork

c)

Technology

d)

Sales

2.

Which of the following describes mannerisms?

a)

Style of speaking or behaving

b)

Dressing appropriately

c)

Values and standards

d)

Working effectively with others

3.

Which of the following is a leadership skill?

a)

Breaking new ground

b)

Anticipating problems

c)

Treating everyone fairly

d)

Prioritizing

4.

Which of the following is important when using technology?

a)

Governance

b)

Credentialing

c)

Ethical conduct

d)

Preparation

5.

Which of the following is a way to exhibit professionalism?

a)

Certifications

b)

Teamwork

c)

Technology

d)

Speech

6.

Which of the following is considered the most important skill in the workplace?

a)

Effective communication

b)

Knowledge of technology

c)

Certifications or licensures

d)

Leadership strategies

7.

. Which of the following is considered a Knowledge of Technology skill?

a)

Teamwork

b)

Creating a final Product

c)

Active Listening

d)

Willingness to learn

8.

Which of the following defines employability?

a)

A specific style of behavior in the workplace

b)

Positive work behaviors and personal qualities which make individuals more likely to gain employment and succeed in their chosen career

c)

. Arriving at work on-time and successfully completing the tasks assigned

d)

Recognizing the questions which relate to goals, purpose and needs

9.

Time Management may NOT lead to which of the following?

a)

. Better professional status

b)

Less stress in the workplace

c)

Greater productivity and efficiency

d)

Advanced degrees

10.

Which of the following is NOT a problem-solving strategy?

a)

Developing a Process

b)

Use of Technology

c)

Anticipating Problemes

d)

Brainstorming

11.

Which type of business produces processed goods by changing raw goods into a more finished form?

a)

Intermediaries

b)

Service Firms

c)

Processors

d)

Producers

12.

Which of the following is an example of a non-profit organization?

a)

Beauty Salon

b)

Salvation Army

c)

ITT Technical Institute

d)

Amazon

13.

The employment process is carried out by which department?

a)

Marketing

b)

Distribution

c)

Management

d)

Human Resources

14.

Intrinsic motivation occurs internally and includes enjoyment and accomplishment

a)

True

b)

False

15.

Group training gives employees hands-on practice with supervision.

a)

True

b)

False

16.

The focus of the maturity stage (stage 3) in the product life cycle is to build customer satisfaction and recognize competitors entering the market.

a)

True

b)

False

17.

Psychological needs are those for necessities such as safety, security and health

a)

True

b)

False

18.

A system used to record, classify, summarize and report the financial position of a business is known as which of the following?

a)

Management

b)

Distribution

c)

Accounting

d)

Human Resources

19.

Direct marketing channels use intermediaries such as wholesalers and retailers.

a)

True

b)

False

20.

The four main parties in a distribution channel are manufacturers, wholesalers, retailers and consumers.

a)

True

b)

False

21.

The matching phase consists of conducting market research to find potential customers.

a)

True

b)

False

22.

Cross-docking is the re-routing of inventory through a warehouse.

a)

True

b)

False

23.

Sam wants the markup percentage on the shirts he is selling to be 19 percent. If the shirts cost Sam $13 each, how much should he charge customers for each shirt?

a)

$32.00

b)

$24.70

c)

$15.47

d)

$13.19

24.

. Rebecca needs to sell her store’s remaining stock of coats and gloves, so she holds a one-day blowout sale and tells customers to “get it before it is gone.” What type of strategy is Rebecca using?

a)

Hard Strategy

b)

Soft Strategy

c)

Push Strategy

d)

Pull Strategy

25.

If a wholesaler purchases laundry detergent at $2.00 per bottle and decides to set the markup percentage at 27 percent, what will the wholesaler’s profit be per bottle?

a)

$0.27

b)

$.0.54

c)

$2.27

d)

$2.54

26.

Which of the following is the formula used to calculate inventory turnover?

a)

Average inventory - cost of goods sold

b)

Cost of goods sold - average inventory

c)

. Average inventory ÷ cost of goods sold

d)

Cost of goods sold ÷ average inventory

27.

The costs of maintaining inventory in a company’s warehouse are referred to as which of the following?

a)

Cost of goods sold

b)

Inventory markup costs

c)

. Inventory carrying costs

d)

Cost of distribution

28.

Which of the following is the “ideal” inventory turnover number?

a)

Less than 2 Hours

b)

Between 2 and 4

c)

Between 4 and 6

d)

There is no “ideal” number applying to all companies

29.

Which of the following types of utility enhances value by creating more useful or desirable products out of raw materials or separate parts?

a)

Possession

b)

Time

c)

Form

d)

Information

30.

Which of the following is NOT one of the basic economic questions listed in the presentation?

a)

What goods and services do we produce

b)

How do we produce those goods and services

c)

. When will we produce those goods and services

d)

Who should benefit from the goods and services produced

31.

When companies are understaffed employees can become overworked, cause a hostile work environment and increase the time of production.

a)

True

b)

False

32.

An economic system in which there is increased government involvement where the goal is to keep prices low and provide jobs for everyone is known as which of the following?

a)

Capitalism

b)

Socialism

c)

Communism

d)

Free enterprise

33.

Unprofitable firms negatively affect the economy by increasing the job market and increasing salaries and benefits.

a)

True

b)

False

34.

When describing supply and demand, which of the following defines when a product is demanded in larger quantities than is produced?

a)

Surplus

b)

. Equilibrium

c)

Demand

d)

. Shortage

35.

Gross National Income includes all of the income earned by a country’s residents and businesses including those earned abroad.

a)

True

b)

False

36.

amount of a good producers are able and willing to sell at various prices during a certain period

a)

Demand

b)

Supply

c)

Profit

d)

Elasticity

37.

amount of product a consumer is willing and able to purchase at given prices

a)

Demand

b)

Supply

c)

Profit

d)

Elasticity

38.

measures the responsiveness of consumers or companies to a change in price

a)

Demand

b)

Supply

c)

Profit

d)

Elasticity

39.

If the price of hamburgers rise, but the price of hot dogs remains the same, which are suppliers more likely to supply?

a)

Hamburgers

b)

Hotdogs

40.

Which of the following measures the responsiveness of producers to a price change?

a)

Marginal Cost

b)

Elasticity of Supply

c)

Utility

d)

Equilibrium

41.

Which term describes the level of satisfaction derived from consumption of a good?

a)

Marginal cost

b)

Elasticity of Supply

c)

Utility

d)

Equilibrium

42.

The place where the supply curve intersects the demand curve is known as which of the following?

a)

Marginal cost

b)

Elasticity of Supply

c)

Utility

d)

Equilibrium

43.

Customer willingness depends on which of the following?

a)

Advertising and promotion

b)

Prices and personal financial habits

c)

. Inflation and currency conversion

d)

All of the above

44.

Which of the following are the beginning step in the manufacturing process?

a)

Builders

b)

Manufacturers

c)

Traders

d)

Producers

45.

Which of the following are a good indicator of economic health and employ a significant percentage of the American workforce?

a)

Builders

b)

Manufacturers

c)

Traders

d)

Producers

46.

When was the World Trade Organization established?

a)

2005

b)

1995

c)

1985

d)

1975

47.

Which of the following is the formula for determining a country’s balance of trade?

a)

. Total exports - total imports

b)

. Total exports + total Imports

c)

. Total exports x total imports

48.

Which of the following is NOT a way money moves from one country to another?

a)

Tourism

b)

Foreign investments

c)

Foreign Policy Development

d)

Imports and Exports

49.

Imports are goods countries need that they buy from other countries

a)

True

b)

False

50.

Exports are extra goods countries sell to other countries

a)

True

b)

False