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WorksheetsEagles Business Final january 2025
Total questions: 100
Worksheet time: 1hrs 15mins
Name
Class
Date
1.
Behaving ethically means doing
a)
what your friends do.
b)
only what’s legal.
c)
the right thing.
d)
what benefits you the most.
2.
Which of the following is an ethical issue:
a)
Deciding whether to lie to a friend or not.
b)
Choosing between buying a new shirt or a new book.
c)
Choosing which movie to see this weekend.
d)
Deciding whether to have french fries or a salad.
3.
Ethical issues deal with __________ choices.
a)
right and wrong
b)
enjoyable and unpleasant
c)
beneficial and non-beneficial
d)
realistic and unrealistic
4.
Vivian told her parents she was going to the library to study when she was actually going to the movies with friends. Because of her behavior, Vivian is facing a(n)
a)
consequence.
b)
ethical principle.
c)
decision-making process.
d)
legal problem.
5.
After Paul gets away with cheating on his Spanish homework, his friends start cheating on their homework, too. This is an example of which consequence of unethical behavior?
a)
A bad example.
b)
Lost trust.
c)
Legal problems.
d)
A poor reputation.
6.
Integrity means acting with
a)
honesty.
b)
leadership skills.
c)
a sense of humor.
d)
humility.
7.
At work, a customer gives Shannon an extra $10. Instead of pocketing the money, Shannon lets the customer know he overpaid. Shannon is acting with
a)
integrity.
b)
transparency.
c)
viability.
d)
rule of law.
8.
Responsibility is a key part of which ethical principle?
a)
Accountability.
b)
Rule of law.
c)
Fairness.
d)
Transparency.
9.
Holden’s group gets a low grade on a project because he didn’t complete his share of the work. He owns up to his mistake and apologizes. Holden is demonstrating
a)
Accountability.
b)
Viability.
c)
Trust.
d)
Rule of law.
10.
You make sure everyone working on your group project has an equal share of the work because you care about the ethical principle of
a)
Fairness.
b)
Accountability.
c)
Rule of law.
d)
Transparency.
11.
If one of your coworkers is treating another coworker unfairly, what is the ethical thing to do?
a)
Speak up.
b)
Be aggressive.
c)
Look for another job.
d)
Ignore it.
12.
Ava doesn’t agree with her classmate’s opinion, but she listens carefully instead of starting an argument or insulting her. Which ethical principle is Ava illustrating?
a)
Respect.
b)
Trust.
c)
Transparency.
d)
Integrity.
13.
How can you show respect for a person you’re speaking with?
a)
Be polite and maintain eye contact.
b)
Interrupt when you have a point.
c)
Start an argument when you don’t agree.
d)
Avoid listening to his/her opinions.
14.
In ethical dilemmas, someone (or something) could be
a)
hurt.
b)
respected.
c)
fired.
d)
promoted.
15.
Which of the following is true of recognizing ethical dilemmas:
a)
You must also respond to them.
b)
Choosing the right decision is simple.
c)
You can ignore them after recognizing them.
d)
They are always obvious.
16.
What is the first step you should take when resolving an ethical dilemma?
a)
Identify the dilemma.
b)
Reflect on the outcome.
c)
Consider all your potential actions.
d)
Figure out who’s affected.
17.
A business that exists to fulfill a specific mission or undertaking is called a __________ business.
a)
Nonprofit
b)
Mission-central
c)
Focused
d)
For-profit
18.
Which of the following represents a primary business activity:
a)
Scheduling
b)
Marketing
c)
Designing
d)
Supervising
19.
Financial analysis occurs when a business
a)
Communicates with potential customers
b)
Keeps accurate expense records
c)
Plans for long-term success
d)
Effectively retrieves data
20.
Within a local pizza shop, financial analysis is most likely used to
a)
Obtain funding for supplies
b)
Oversee the baking process
c)
Develop the best recipe
d)
Attract customers
21.
Which of the following activities demonstrates human resources management:
a)
The business includes top-level managers in long-term planning
b)
The business acts on new information about a competitor
c)
The business gives its preferred customers a special discount
d)
The business takes care of the responsibilities associated with having employees
22.
Which of the following activities demonstrates information management:
a)
Hiring appropriate employees
b)
Researching customers’ needs
c)
Storing and retrieving information
d)
Conducting employee evaluations
23.
Which of the following activities demonstrates the primary business activity of marketing:
a)
The business expects to merge with another business in the industry
b)
The business hires qualified employees to perform complex job duties
c)
The business prepares for long-term success by planning and organizing
d)
The business meets customers’ needs by offering appropriate products
24.
Making sure that a business has enough of a product in stock without having too much on hand is the goal of
a)
Quality control
b)
Production
c)
Human resources management
d)
Inventory management
25.
Which of the following demonstrates the interrelationship among primary business activities:
a)
One business activity changes, so the others must adjust
b)
A new product is introduced, so business advertisements must adjust
c)
A business manager becomes vice president, so his/her department must adjust to the change
d)
A business changes its goals, so its strategies and tactics change, too
26.
Which of the following is an example of personal financial information:
a)
Pay stub
b)
Sales invoice
c)
Accounts payable record
d)
Expense report
27.
Accounting is distinct from finance because its main focus is on
a)
Money management decisions
b)
Administration of assets
c)
Acquisition of funds
d)
Recordkeeping activities
28.
The administration of assets refers to decisions about
a)
Spending
b)
Accounting
c)
Investments
d)
Financing
29.
Money the business owes is known as
a)
Equity
b)
Accounts payable
c)
Assets
d)
Accounts receivable
30.
Money owed to the business is known as
a)
Equity
b)
Accounts payable
c)
Assets
d)
Accounts receivable
31.
To keep communication flowing with other departments, the finance function depends on
a)
Marketing
b)
Information systems
c)
Production
d)
Accounts receivable
32.
Selling shares in the company to raise money for a new venture is referred to as ___________ funding.
a)
Equity
b)
Debt
c)
Dividend
d)
Accounts payable
33.
The cash conversion cycle should be
a)
At equilibrium
b)
As long as possible
c)
As short as possible
d)
On an upward trend
34.
The foundation of the operations function is
a)
Maintenance and repairs
b)
Purchasing
c)
Production planning
d)
Quality control
35.
Which operations activity is also referred to as procurement?
a)
Quality control
b)
Inventory control
c)
Purchasing
d)
Logistics
36.
Running out of inventory can result in
a)
Higher taxes
b)
Higher productivity
c)
Lost sales
d)
More satisfied customers
37.
Deciding how to transport goods is part of which operations activity?
a)
Safety and security
b)
Scheduling
c)
Maintenance and repairs
d)
Logistics
38.
Complying with environmental laws is part of which operations activity?
a)
Purchasing
b)
Safety and security
c)
Inventory control
d)
Logistics
39.
A producer is someone who
a)
is very creative.
b)
sells products.
c)
makes things.
d)
employs others.
40.
Farms, mines, and lumber companies are examples of
a)
manufacturers.
b)
builders.
c)
trade industries.
d)
raw-goods producers.
41.
A company that transforms cotton into wearable clothing is considered a
a)
manufacturer.
b)
raw-goods producer.
c)
service business.
d)
builder.
42.
Emilia works for a company that constructs houses and business facilities. Which type of producer does she work for?
a)
raw-goods producer.
b)
manufacturer.
c)
trade industry.
d)
builder.
43.
Rembert works for a grocery store that buys food from producers and sells it to customers. The grocery store is considered a
a)
service business.
b)
trade industry.
c)
raw-goods producer.
d)
builder.
44.
The two main divisions of the trade industry are
a)
producers and retailers.
b)
manufacturers and wholesalers.
c)
wholesalers and retailers.
d)
wholesalers and producers.
45.
Which of the following describes the services offered by trade industries:
a)
They may be limited or full line.
b)
They vary from day to day.
c)
They are always full line.
d)
They are always limited.
46.
Retailing takes place whenever goods are
a)
exchanged for other goods.
b)
sold in a retail establishment.
c)
sold to the ultimate consumer.
d)
offered for sale.
47.
What do service businesses sell?
a)
Intangible activities.
b)
Raw goods.
c)
Wholesale merchandise.
d)
Retail merchandise.
48.
A large retailer feels that it has a duty to contribute to the well-being of society, so it donates a portion of its proceeds to a charity that helps the environment. The retailer is demonstrating
a)
voluntary chains.
b)
e-tailing.
c)
wholesaling.
d)
social responsibility.
49.
A business that produces a product should be socially responsible to the __________ of the product.
a)
endorsers.
b)
users.
c)
producers.
d)
providers.
50.
A characteristic of human wants is that they are
a)
unlimited.
b)
unchanging.
c)
consistent.
d)
limited.
51.
Which of the following is an example of an economic want:
a)
Understanding.
b)
Fresh air.
c)
Clothing.
d)
Conversation.
52.
An example of a noneconomic want would be the desire for
a)
a friend.
b)
police protection.
c)
a college education.
d)
concert tickets.
53.
When a stove is used in a restaurant kitchen, it is a
a)
human resource.
b)
capital good.
c)
noneconomic resource.
d)
natural resource.
54.
Which of the following groups of words best describes wants:
a)
Unlimited, unchanging, and compensating.
b)
Unlimited, changing, and competing.
c)
Limited, unchanging, and competing.
d)
Limited, changing, and compensating.
55.
Water and air are examples of __________ resources, while people are considered to be __________ resources.
a)
mental; natural.
b)
physical; mental.
c)
capital; human.
d)
natural; human.
56.
In economics, capital goods include
a)
buildings and equipment.
b)
labor and management.
c)
mental and physical work.
d)
trees and water.
57.
Why are resources considered limited?
a)
Entrepreneurs do not invest enough of them.
b)
There are so many that people must decide which ones to choose at any one time.
c)
Everyone has them, and they change.
d)
There are not enough available for everyone to have as much of them as desired.
58.
Individual customers view products through
a)
corporate filters.
b)
personal lenses.
c)
constant lenses.
d)
general viewpoints.
59.
To discover a product’s level of utility, businesses measure the consumer’s
a)
attitude.
b)
satisfaction.
c)
desire.
d)
perspective.
60.
The marketing concept is all about the
a)
retailer.
b)
customer.
c)
wholesaler.
d)
marketer.
61.
Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. This is an example of
a)
market price.
b)
supply.
c)
elasticity.
d)
demand.
62.
When the price of Bluetooth speakers increases, the quantity of Bluetooth speakers offered for sale will increase. This is an example of the law of
a)
demand.
b)
cost of production.
c)
standardization.
d)
supply.
63.
Your business is selling more and more large-screen televisions each month. Applying the law of supply and demand, what do you expect to happen to the price and supply of these televisions over the next few months?
a)
The price will increase, and supply will increase.
b)
The price will increase, and supply will decrease.
c)
The price will decrease, and supply will decrease.
d)
The price will decrease, and supply will increase.
64.
A local neighborhood has many houses for sale at a low price, but demand for the houses is low. What kind of market most likely exists in the neighborhood?
a)
Inelastic
b)
Buyer’s
c)
Discretionary
d)
Seller’s
65.
Which of the following is characteristic of a seller’s market:
a)
Large supply
b)
High prices
c)
Low profits
d)
Small demand
66.
In a __________ economy, the government controls the economic system and does not allow private ownership of the means of production and distribution.
a)
Communist command
b)
Market
c)
Socialist command
d)
Traditional
67.
Government owns some basic means of production, but there is private ownership of business under
a)
Capitalism
b)
Socialism
c)
Communism
d)
Entrepreneurship
68.
In a __________ economy, individuals and businesses own the means of production and distribution with limited government regulation.
a)
Socialist command
b)
Traditional
c)
Market
d)
Communist command
69.
What type of economic system is used in the United States?
a)
Traditional
b)
Communist command
c)
Socialist command
d)
Market
70.
In a traditional economic system, the question of what to produce is answered by producing
a)
What consumers need and want
b)
What the government chooses
c)
What supply dictates
d)
What has always been produced
71.
In a communist command economy, who decides how the economic questions will be answered?
a)
Government
b)
Individuals
c)
Businesses
d)
A venture team
72.
In a socialist economic system, who tends to answer the question of how products will be produced?
a)
Government and individuals
b)
Government and business
c)
Business and individuals
d)
Tradition and government
73.
Communist command economies are most likely to experience which of the following problems:
a)
Surplus of consumer goods
b)
High income taxes
c)
Shortage of capital investment
d)
Poor quality products
74.
A major problem for individuals and private businesses in a socialist command economy is
a)
Taxes
b)
A lack of competition
c)
A shortage of consumer goods
d)
Profit
75.
Which of the following is a potential problem in market economies:
a)
No competition
b)
Financial loss
c)
Production quotas for businesses
d)
Total government control
76.
Every society must develop a system for deciding how it will use its resources so that it can
a)
Minimize risk
b)
Control production
c)
Meet people’s needs
d)
Prevent problems
77.
One of the results of freedom in the marketplace is that
a)
People and businesses can own things of value
b)
People can buy anything they can afford that can legally be sold
c)
Businesses use resources efficiently
d)
Government decides how to use an individual’s private property
78.
Alex owns a guitar, several books, and a telescope. Alex’s possessions are examples of
a)
Economic resources
b)
Private property
c)
Capital goods
d)
Equal distribution
79.
Which of the following is a benefit of the freedom to own private property:
a)
Encourages businesses to be cooperative
b)
Allows people to do anything they want to do
c)
Encourages people to save and invest
d)
Helps limit our economic choices
80.
The basic role of the United States government is to
a)
Increase production
b)
Limit business startups
c)
Maintain control of prices
d)
Protect U.S. citizens
81.
In a private enterprise economic system, consumers can choose from a variety of products as a result of
a)
Inflation
b)
Competition
c)
Limited government control
d)
The collection of taxes
82.
Private enterprise is based on the idea that everyone is better served when
a)
Economic resources are controlled by the government
b)
Individuals are free to set their own goals
c)
Government determines where individuals will work
d)
Businesses regularly increase their prices
83.
In business terms, income is the money
a)
Produced
b)
Supplied
c)
Spent
d)
Received
84.
The amount of money paid for raw materials and products sold is called
a)
Operating expense
b)
Net profit
c)
Cost of goods
d)
Gross profit
85.
The money spent to run a business is called
a)
Operating expense
b)
Net profit
c)
Cost of goods
d)
Gross profit
86.
Besides motivation, what does profit provide business owners in particular?
a)
Influence
b)
Determination
c)
Energy
d)
Satisfaction
87.
Which of the following is a general benefit profit provides:
a)
Better wages
b)
Higher prices
c)
Better supplies
d)
More products
88.
Each purchase strengthens the economy by encouraging
a)
Trade
b)
Expansion
c)
Investment
d)
Competition
89.
Profitable businesses often help improve their local communities by
a)
Building facilities in other cities
b)
Increasing salaries of executives
c)
Contributing to charitable causes
d)
Investing in foreign companies
90.
If no profit is generated in the long run, a business must
a)
Invest wisely
b)
Shut down
c)
Reduce expenses
d)
Lay off employees
91.
A popular product is said to be
a)
In demand
b)
Available
c)
Out of style
d)
Late
92.
Which of the factors that affect profit are usually able to be controlled?
a)
Expenses and pricing
b)
Pricing and billing
c)
Income and expenses
d)
Expenses and billing
93.
Businesses must be careful about increasing the prices of their goods to increase profits because the result may be that they
a)
Increase their operating expenses
b)
Lose sales to competitors
c)
Have to find new suppliers
d)
Lose their stockholders
94.
Which activities are likely to increase a firm’s profit?
a)
Increasing sales and decreasing expenses
b)
Decreasing sales and increasing expenses
c)
Decreasing supplies and increasing production
d)
Increasing supplies and decreasing production
95.
When employees are working faster or better, they are increasing their
a)
Efficiency
b)
Wages
c)
Benefits
d)
Value
96.
To use resources wisely, business owners must reduce
a)
Waste
b)
Wages
c)
Reward
d)
Risk
97.
When a rival’s product on the market reduces sales of your company’s product, your company is experiencing strategic risk caused by
a)
Obsolescence
b)
Competition
c)
Changing customer needs
d)
Regulatory and political issues
98.
Management decides to hold its annual meeting in one U.S. city rather than another because of crime in that city. This is an example of __________ the risk.
a)
Preventing or controlling
b)
Retaining
c)
Avoiding
d)
Transferring
99.
Carefully selecting goods or services to sell is an example of handling business risks by __________ the risk.
a)
Retaining
b)
Avoiding
c)
Preventing or controlling
d)
Transferring
100.
If a risk is small in terms of money, a business may decide to __________ the risk.
a)
Control
b)
Avoid
c)
Retain
d)
Transfer
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