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WorksheetsBusiness Essentials 90% Benchmark 23-24
Total questions: 100
Worksheet time: 50mins
Piper looks up to her new boss and tries to learn from her behavior as much as possible. However, Piper knows that some of her boss’s actions are unethical. Piper is uncertain whether she should follow her boss’s example. Which ethical dilemma is Piper facing?
Greed
Bad role model
Pressure from others
Desire to prove herself
Which is a way to show transparency?
XYZ Company makes sure its employees are taken care of
XYZ Company ensures that all its products are biodegradable
XYZ Company listens to multiple opinions before making a decision
XYZ Company listens to multiple opinions before making a decision
Which question should one ask himself/herself to determine whether one is facing a true ethical dilemma?
Is there money at stake?
Could someone be hurt by the actions?
Does the action make me look good to others?
Is my choice based on the most popular option
Jasmine thinks it is OK to steal a few things from work. Which ethical principle would help her realize that the long-term repercussions of her actions could create an ethical dilemma?
Fairness
Growth
Trustworthiness
A. Viability
Shayla is not breaking any laws, but her behavior still is unethical. How is this possible?
Because ethical means doing what is easiest
Because doing what is legal can also be considered unethical
Because doing what is easiest is sometimes what is considered unethical
Because the ethical thing to do is always what a group or majority is doing
Tayshaun acts with honesty in all situations. He is demonstrating:
Accountability
Integrity
Respect
Viability
When Tori considers taking something that belongs to someone else, which ethical principle could help her recognize that she is facing an ethical dilemma?
Accountability
Integrity
Transparency
Viability
Liam always says “please” and “thank you”. He demonstrates
Trust
Respect
Integrity
Rule of Law
The economic resource where people work to produce goods or services are
Capital Goods
Human Resources
Natural Resources
Noneconomic Goods
What is the name for markets with only a few sellers, such as the markets for automobiles, pharmaceuticals, or oil?
Oligopolies
Monopolies
Perfect competition
Monopolistic competition
What is the economic basis for the private enterprise economic system?
Competition
Marketplace
Motive of Profit
Manufacturer Supply Chain
A business decides against opening a store in the next town because its research shows the location will be unprofitable. What form of risk management is this?
Avoidance
Reduction
Retention
Transfer
A characteristic of a seller’s market is
Lower Profits
Higher Prices
Larger Supply
Smaller Demand
A form of demand for products in which changes in price correspond to changes in demand is
Consumer
Elastic
Equilibrium
Inelastic
Economic resources that help people be more productive are
Human Resources
Natural Resources
Capital Goods Resources
Nonrenewable Resources
Competition helps create a healthy society by
Creating New Jobs
Increasing Money Supply
Making New Government Regulations
Replacing Small Businesses with Large Businesses
A business that buys goods or services and sells them to the ultimate consumer is a:
Manufacturer
Producer
Retailer
Wholesaler
The two main divisions of the trade industry are
Producers and Retailers
Wholesalers and Retailers
Wholesalers and Producers
Manufacturers and Wholesalers
New Gear studied trends in the marketplace to price their jerseys. There was an abundance of jerseys remaining after meeting the demand creating which market condition?
Equilibrium
Rationing
Shortage
Surplus
What do service businesses sell?
Raw Goods and Services
Retail Goods and Services
Intangible Goods and Services
Wholesale Goods and Services
A large retailer wants to contribute to the well-being of society. It donates 10% of its proceeds to a charity that helps the environment. The retailer is demonstrating
E-tailing
Wholesaling
Social Responsibility
Voluntary Merchandise
To prepare for effective decision-making that ensures the efficient delivery of products to the marketplace, one should study
Marketing
Economics
Job Outlooks
Supply Chains
The Candy Store is selling more and more chocolate each quarter. Applying the law of supply and demand, what is most likely to happen over the next few quarters
The price will increase, and the supply will increase
The price will decrease, and the supply will increase
The price will increase, and the supply will decrease
The price will decrease, and the supply will decrease
ABC Corporation bought a new conveyor belt. What type of good is the conveyor belt?
Capital Good
Natural Good
Public Good
Consumer Good
The Brooks Company produces sneakers and studies trends in the marketplace to price their sneakers. The Brooks Company supplied as many sneakers as consumers demanded to create which market condition
Equilibrium
Rationing
Shortage
Surplus
A characteristic of an economic service is that it is
Useful
Tangible
Nontransferable
Free to everyone
Deciding to stay home and study, instead of going to a basketball game, is an example of a/an
Trade-off
Capital Good
Economic Want
Economic Service
Gasoline prices increased 30 cents per gallon. Raylee continued to purchase gasoline because her demand and need to commute to work had not changed. This is an example of what type of demand
Complementary
Discretionary
Elastic
Inelastic
In 1890, Congress passed a law that prevents monopolies from forming and hinders price fixing. What law is this
Clayton Act
Robinson-Patman Act
Sherman Antitrust Act
Celler-Kefauver Antimerger Act
Elastic demand is more likely when the good is:
A Luxury
Imported
Lower Price
Inexpensive
In a socialist economy, what determines how basic economic questions are answered?
Government
Products
Resources
Retailers
Which is an example of a noneconomic want
A Haircut
Sport Ticket
Concert Ticket
Rain for the Crops
Monte works for a grocery store that buys food from producers and then sells it to customers. The grocery store is an example of a
Builder
Trade Industry
Service Business
Raw-Goods Producer
Customers cast economic votes every time they:
Buy a Product
A. Visit a Business
Give their Opinion
Participate in a Survey
In some places, a company can have exclusive control of the supply of a good or service such as the trash service. This is an example of:
Price Competition
Price Discrimination
Nonprice Competition
Regulated Monopoly
What is a want that can be satisfied by spending money to consume a good, service, or leisure activity?
Economic
Limited
Noneconomic
Unlimited
The economic system that adopts the fewest new ideas or improvements is:
Communist
Market
Socialist
Traditional
R & R Real Estate company buys errors and omissions liability insurance. What form of risk management is this?
Avoidance
Reduction
Retention
Transfer
Retailing occurs wherever goods are
Retailing occurs wherever goods are:
Created and Manufactured
Traded or Exchanged for other Goods
Sold to Consumers or the Ultimate Consumer
Prices are used in our economy to:
Offer Excessive Demand
Cause No Change Demand
Encourage Excessive Supply
Determine what goods are to be produced and in what quantities
Which factor is a barrier to small-business and entrepreneurial success?
Poor Management
No vision for Expansion
Having a clear Strategic Vision
Having a Surplus of Employees
When the prices of iPhones increase, the quantity of iPhones offered for sale will increase. This is an example of the law of:
Equilibrium
Production
Shortage
Supply
Arc Electric Company holds regular safety training meetings for its employees. What form of risk management is this?
Capital
Reduction
Retention
Transfer
In the human resource management process, what is the first task to be completed for staffing?
Recruiting
Determining Need
Determining Job Descriptions
Screening and Selecting Applicants
What is the primary reason customers give for not returning to a business?
Lack of available parking
Lack of advertised merchandise
Lack of courtesy from salespeople
Lack of customer-service personnel
Which behavior best describes the primary business activity of operations?
Hiring qualified employees
Planning for future success
Producing goods and services
Keeping accurate financial records
Why is information management necessary for strategic information in a business?
To write an annual report
To make long-term decisions
To create sales presentations
ATo develop a short-term advertising campaign
Which is a true statement about making promises to customers?
It is better to over-deliver
It is better to over-promise
Customers do not remember broken promise
Businesses should not make promises to customers
When Caring Companions and Smiling Pets merged two years ago, what was the most likely effect on the primary business activities of both companies?
All of the primary business activities were unaffected
Each primary business activity became two smaller business activities
All of the primary business activities combined into two distinct activities
Each primary business activity combined with the matching activity of the other firm
Shannon is the manager and he ensures proper work effort by setting:
Job Standards
Diversity Quotas
Hiring Objectives
Expense Budgets
Ian works in the marketing department. What is the primary business objective of his department?
To help its corporation merge with another company
To hire qualified employees to perform complex job duties
To meet customers’ needs by offering appropriate products
To prepare for long-term success by planning and organizing
Which statement is true about a management information system (MIS)?
It includes people, processes, and practices
It is the same thing as an information management program
It does not assist with a business’s information management program
It may be one part of a business’s overall information management program
When should customer relations skills, such as courtesy and friendliness, be emphasized during a business’s activities?
During facilities design
During the hiring process
During marketing research
During technology planning
Which is a trend in proper information management?
Decreased competition
Increased number of workers in an office
Decreased number of electronic documents
Increased compliance of laws and regulations
When someone says that a business has good internal relations, this means the business has which
Strong Managers
Happy Employees
Business Partners
Satisfied Customers
An office supply company provides discounts to teachers to make them feel important. The company is modeling which activity?
Positive Customer Service
Business Planning
Technology Upgrade
Communication Skills
What is one reason human resources management is important to the success of a business?
Human resources is responsible for customer complaints
Human resources is responsible for staffing the business
Human resources is responsible for reducing wasted inventory
Human resources is responsible for eliminating jobs for the company
Which is a reason that the role of human resources management is changing?
Business costs are going down
The workforce is younger than ever
There is greater diversity in the workforce
Employees place a greater emphasis on personal lives
How can positive customer relations boost productivity?
By ensuring proper bookkeeping
By cutting down on equipment costs
By avoiding wasted time and resources
By creating new manufacturing processes
What should employees understand about each customer in order to develop positive customer/client relations?
The customer is in a hurry
The customer is like most others
The customer is a possible problem
The customer is a unique individual
Which is a characteristic of human resources management?
Evaluating sales
Working with people
Creating inventory list
Scheduling production orders
How can information management be a challenge?
No one wants to participate in it
There is only one right way to do it
Many people do not understand what it is
There is often not enough data to organize
Which U.S. law relates to information management?
The Taft-Hartley Act
The Sarbanes-Oxley Act
The Landrum-Griffin Act
The Sherman Antitrust Act
The accounting document that shows a business’s revenue and expenses is a/an:
Balance sheet
Income statement
Cash flow statement
Statement of owner’s equity
Kathy wants to know whether her boutique made or lost money this month. The financial document she should view is her:
Balance sheet
Income statement
Cash flow statement
Statement of owner’s equity
Jordan owns a successful landscaping business. Landscaping is an example of a/an:
Input
Inventory
Output
Service
Molly plans out each part of the operations process to ensure the right item is in the right place at the right time. What part of the operations function is this?
Marketing
Logistics
Purchasing
Quality Control
The finance activity regarding how to source income is called:
Accounting
Acquiring funds
Administering assets
Making capital investment decisions
Connor is working on a billboard to showcase his new service. What part of the marketing mix is he working on?
Place
Price
Product
Promotion
Isabelle owns a home cleaning business. She invoices her customer and records the transaction as soon as she finishes each home cleaning. Which type of accounting method is Isabelle using?
Accrual
Cash
Cost
Managerial
Beth wants to hire a disc jockey for her son’s graduation party. Deanna offers her a promotional package that includes three hours of music, special effect lighting, and a video. Deanna is marketing:
Goods
Ideas
Places
Services
Cliff wants to know how much money his business made this year. He wants to know his business’s:
Margin
Cash Flow
End Result
Bottom Line
The Happy Toys Company Board of Directors has decided to give some of its profits from the year to its shareholders. It has decided to pay a:
Bribe
Dividend
Liability
Tax
A change in products will have the most direct impact on a business’s:
Distribution
Finances
Marketing
Operations
Jerome makes laptop computers. The laptops are part of his:
Input
Output
Parts
Resources
1Beverly has noticed that during the holiday season, her business needs more inventory, which also increases her:
Debits
Holding Cost
Profit and Revenue
Opportunity for Shortages
Which represents the inflow of funds into a business?
Cash
Debt
Expenses
Liabilities
Cash is an example of:
Assets
Expenses
Equity
Liabilities
What is the set of computer programs that manage the hardware and software of a computer?
Electronic Resource
Digital Connection
Operating System
Transfer Protocol
Tina is an architect who works with engineers to create precision drawings and technical illustrations. What type of computer technology does Tina use?
Expert Systems
Networking Technology
Computer-aided Design (CAD)
Voice over Internet Protocol (VoIP)
Bryan would like to send the same e-mail message to multiple people at once. He wants to save their e-mail contact information for future e-mail messages too. Which e-mail service should he use?
Virus
Attachments
Address Book
Distribution list
Mrs. Taylor is helping her students create accounting forms in class. They are entering numbers and text to create the forms, which calculate the ending financial information. Which application software are they using?
Database
Presentation
Spreadsheet
Word Processing
What are the programs that instruct computers to perform specific operations?
Cookies
Software
Hardware
Information Systems
Which application software is designed to create, store, manage, search, and extract information?
Database Application
Presentation Application
Spreadsheet Application
Word Processing Application
Hugo is creating a book report for his English class. He can create an outline, the report, and a list of works cited all in the same application. Which application software is Hugo using?
Database
Presentation
Spreadsheet
Word Processing
Corbin browses for workout gear online. He needs to type in the website address of the company to access the website. This website address is called:
A Virus
A Browser
The World Wide Web (WWW)
The Uniform Resource Locator (URL)
What is the computerized storage of information and facts called?
Database Application
Telecommuting Software
Global Positioning System (GPS)
Personal Identification Number (PIN)
Outer Banks Transmission Company specializes in automotive repair. Which computer technology helps the mechanic to diagnose car engine trouble?
Expert Systems
Networking Technology
. Computer-aided Design (CAD)
Voice over Internet Protocol (VoIP)
Why do many businesses store information in a computerized database?
To maintain client lists
To transcribe word documents
To calculate and chart economic trends
To communicate company policies to employees
Which word processing document lists one’s detailed work history, educational history, skills, and references?
License
Résumé
Job Application
Letter of Application
Which document, provided either in paper format or in electronic format from a prospective employer’s website, does a company use to collect employment information about a candidate?
License
Résumé
Letter of Application
Job Application
Miriam is very polite, kind to her friends, and positive in her outlook. These characteristics are called:
Aptitudes
Attitudes
Flaws
Standards
Kaylyn is a department manager for a local retail store. She likes her job and wants to advance within the store. Kaylyn’s current work experience is a:
Hobby
Step in her Career
Part-time Position
Momentary liking or a Whim
Which document provides a brief introduction of the employment candidate and includes paragraphs about that person’s qualifications and work experiences?
License
References
Job Application
Letter of Application
The Equal Employment Opportunity Commission is responsible for:
Improving worker health and safety protection
Requiring employers to treat all workers with fairness
Showing prejudicial treatment, especially as an indication of bias
Creating bargaining power and expressing job concerns with employers
William plans to graduate high school in six months. Which type of goal is his plan?
Ultimate Goal
Long-term Goal
Short-term Goal
Stepping-stone Goal
Ashlynn has the necessary knowledge and skill to do her job as a nurse. Which characteristic best describes Ashlynn?
Competent
Dependable
Loyal
Responsible
Karlee prepares a document to send to a prospective employer. The document includes her address, the prospective employer’s address, and several paragraphs about her work experience, and it ends with an appropriate complimentary closing. This document is called a/an:
Résumé
Occupation
Job Application
Letter of Application
José likes to travel across the country in his recreational vehicle. When he arrives in a new town, he stays at a local campground. He looks for part-time employment while he is in town. The type of work José is looking for is best called a:
Career
Hobby
Job
Routine
Billy uses his knowledge and abilities to make management decisions in his job. What skills is he using?
Analytical
Basic
Communication
Transferable
