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WorksheetsQuestions 3rd Q
Total questions: 100
Worksheet time: 50mins
You have two jobs offers, and you're trying to decide which one to accept. Each job has its advantages and disadvantages. You're facing a(n)
principle
ethical dilemma
dilemma
value conflict
You are trying to decide whether or not to plagiarize a paper for school. This is an example of an ethical
value
principle
dilemma
moral
Ethical dilemmas involve choosing between what is
right or wrong
easy or hard
opinion or fact
wanted or needed
In a(n) _____________, someone could be harmed.
dilemma
problem
situation
ethical dilemma
Mara's ethical belief don't change, whether she's at her part-time job or hanging out with her friends. Mara follows
ethical principles
ethical dilemmas
subjective morals
situational beliefs
Neal has a coworker who doesn't think that bribery is wrong. The coworker is from another culture where bribery is much more accepted, and he tries to convince Neal that it isn't a big deal. Neal is facing an ethical dilemma because of
conflicting values
a lack of consequences
greed
transparency
Thaddeus feels that his job doesn't pay him enough, so he feels like he deserves to take money out of the register every once in a while. Thaddeus is motivated by
conflicting values
the desire to provie himself
bad role models
greed
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 isn't sure if she should follow her boss's example or not. Piper is facing an ethical dilemma because of
a lack of consequences
a bad role model
greed
pressure from others
DeMarcus behaves ethically at his job even when no coworkers or supervisors are watching.
transparency
viability
integrity
greed
Nicole considers stealing because she doesn't think anyone will catch her. Nicole is facing an ethical dilemma because of
pressure from others
a bad role model
the desire to prove herself
a lack of consequences
A business can be described as a(n)
disorganized method of manufacturing products
organized effort to produce goods and services
reasonable way to make a profit
unreasonable means for increasing revenues
A business that exists to fulfill a specific mission or undertaking is called
a __________ business.
mission central
focused
for-profit
non profit
Every business must accomplish which of the following:
Produce or provide goods/services
Obtain venture capital
Issue corporate bonds
Trade or sell business assets/property
Which of the following represents a primary business activity:
scheduling
designing
marketing
supervising
Financial analysis occurs when a business
communicates with potential customers.
keeps accurate expense records.
plans for long-term success.
effectively retrieves data.
Within a local pizza shop, financial analysis is most likely used to
attract customers
oversees the baking process
obtain funding for the supplies
develop the best recipe
Which of the following activities demonstrates human resources
management:
The business gives its preferred customers a special discount.
The business takes care of the responsibilities associated with having
employees.
The business includes top-level managers in long-term planning.
The business acts on new information about a competitor.
Janelle’s Creative Supplies is opening an additional location on the
other side of town. To successfully operate the new location, Janelle
primarily needs
new carpet and paint
extra free time
different take out boxes
additional employees
Which of the following activities demonstrates information management:
Storing and retrieving information
Researching customers’ needs
Hiring appropriate employees
Conducting employee evaluations
TeJuan’s Fishing Shack demonstrates effective information
management by
accessing a list of fishing equipment appropriate for a particular
customer.
removing wasted materials from the lake
promoting new fishing equipment in a popular trade magazine.
changing the bait
Which of the following activities demonstrates the primary
business activity of marketing:
The business prepares for long-term success by planning and
organizing.
The business meets customers’ needs by offering appropriate products.
The business expects to merge with another business in the industry.
The business hires qualified employees to perform complex job duties.
Which of the following behaviors best describes the primary
business activity of operations:
Keeping accurate financial records
Planning for future success
Producing goods and services
Hiring qualified employees
Making sure that a business has enough of a product in stock
without having too much on hand is the goal of
inventory management.
production
quality control
human resource management
Which of the following behaviors demonstrates the primary
business activity of strategic management:
Recruiting appropriate employees
Obtaining funds for business projects
Planning and organizing for the future
Regularly updating business processes
For the long-term success of the business, Stacey’s Coffee House
has decided to add a self-serve laundromat. Which of the following
behaviors describes the business activity that Stacey’s Coffee House
was likely engaged in before making this decision:
Determining what will put it in reach of its goals
Establishing a system for retrieving information
Add a change machine and games to keep the kids busy
Organizing itself for meeting its objectives
Which of the following demonstrates the interrelationship among
primary business activities:
A business changes its goals, so its strategies and tactics change, too.
A new product is introduced, so business advertisements must adjust.
A business manager becomes vice president, so his/her department
must adjust to the change.
One business activity changes, so the others must adjust.
Franco’s Bread Shop is introducing a new type of sandwich bread
to the community this week. Which of the following describes the
business activity that the bread shop will likely partake in before the
release:
Collecting information on last year’s new breads
Creating a system for storing new bread recipes
Planning for the long-term results of introducing new breads
Promoting the new bread through advertising
When the Pretty Pictures framing business underwent internal
restructuring last year, how would its primary business activities have
reacted?
They stayed the same
They changed radically
They adjusted according to the internal changes.
They adjusted according to the external changes.
When Caring Companions and Smiling Pets merged two years
ago, what was the most likely effect on the primary business activities of
both companies?
None of the primary business activities combined into one activity.
Each primary business activity combined with the matching activity of
the other firm.
Each primary business activity became two smaller business activities.
All of the primary business activities combined into two distinct activities.
An example of performing business activities through outsourcing is when a business
operates as the link between customers and products.
begins long-term planning and organization.
offers a new product in a popular product line.
hires an outside firm to perform its marketing.
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
supply
demand
elasticity
market price
The quantity of a good or service that producers are able and willing to offer for sale at a specified price in a given period of time is
demand
elasticity
market price
supply
A team of employees is responsible for researching potential demand for a business’s brand-new product. The factor that is most likely to affect demand for this product is the
product’s utility.
costs of production.
government’s policy.
number of producers.
Which of the following is a factor affecting a product’s utility to the individual customer:
Number of producers
Number of consumers
Price of other goods
Consumer’s age
Which of the following determines whether consumers can purchase goods or services:
Buying power
Labor costs
Competition
Production costs
The price of complementary products has an effect on
elasticity.
supply.
utility.
demand.
For 20 years, Don owned a small grocery store. When several big box stores that sell groceries at discounted prices moved into the area, Don’s sales declined, and he had to close his business. Which of the factors that affect supply affected Don’s business?
Natural disasters
Government regulation
Labor demands
Number of producers
A company that transforms cotton into wearable clothing is considered a
manufacturer.
raw-goods producer.
service business.
builder.
The two main divisions of the trade industry are
wholesalers and retailers.
producers and retailers.
manufacturers and wholesalers.
wholesalers and producers.
Retailing takes place whenever goods are
offered for sale.
exchanged for other goods.
sold to the ultimate consumer.
sold in a retail establishment.
What do service businesses sell?
Retail merchandise
Intangible activities
Raw goods
Wholesale merchandise
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
social responsibility.
wholesaling.
voluntary chains.
e-tailing.
A socially responsible business will attempt to give customers
the best products no matter what they cost.
the best products at the best prices.
lower quality products at reduced prices.
high-quality products at high prices.
A characteristic of human wants is that they are
limited.
unlimited.
unchanging.
consistent.
Which of the following is an example of an economic want:
Clothing
Fresh air
Understanding
Conversation
An example of a noneconomic want would be the desire for
police protection.
a college education.
concert tickets.
a friend.
Which of the following is an industrial good:
Tires for a tow truck
Matt’s cell phone
Holiday flowers
Emily’s home computer
Susan is willing to pay a high price for the brand of china that she wants for her home. This china would be classified as a(n) __________ product.
shopping
Capital
Convenience
Specialty
How would a business’s computers be classified?
As equipment
As parts
As supplies
As an installation
A car manufacturer receives a shipment of bolts that are going to be used in the production of automobiles. What type of industrial product would the bolts be?
Parts
Equipment
Materials
Supplies
In ethical dilemmas, someone (or something) could be
promoted
hurt
respected
fired
Shayla isn't breaking any laws, but her behavior still isn't ethical. This is because simply doing what is ___________ isn't always considered ethical.
legal
correct
right
disrespectful
Malcolm is facing an ethical dilemma, but instead fo responding to it, he avoids it and pretends it doesn't exist. The problem will most likely
solve itself
get better
get worse
go away
Making a decision when facing an ethical dilemma will most likely make you
less content
more satisfied
unhappy
anxious
Following your _________ can help you recognize an ethical dilemma.
coworkers' advice
supervisor's example
ethical principles
company handbook
Which of the following is a question you should ask yourself to determine whether you're facing a problem or a true ethical dilemma:
could someone be unhappy?
Is there an easy or hard choice?
Could someone be hurt?
Is money at stake?
Which of the following is true of recognizing ethical dilemma:
They are always obvious.
You must also respond to them.
You can ignore them after recognizing them.
Choosing the right decision is simple.
What is the first step you should take when resolving an ethical dilemma?
Figure out who's affected.
Consider all of your potential actions.
Identify the dilemma.
Reflect on the outcome.
"Who's involved?" and "Which ethical principles are being violated?" are questions you should ask during which step of the ethical dilemma response process?
Get the facts.
Consider all your potential actions.
Check your gut feeling.
Make and implement your decision.
Deciding who should take action is part of which step of the ethical dilemma response process?
Identify the dilemma.
Make and implement your decision.
Reflect on the outcome.
Figure out who's affected.
Into what two categories can wants be divided?
Unlimited and noneconomic
Economic and noneconomic
Unlimited and limited
Unlimited and economics
Seeing a movie at a theater would be considered a(n) __________ want.
unlimited
limited
economic
noneconomic
Friendship would be considered a(n) __________ want.
economic
limited
noneconomic
unlimited
Which of the following groups of words best describes wants:
Limited, changing, and compensating
Limited, unchanging, and competing
Unlimited, unchanging, and compensating
Unlimited, changing, and competing
Water and air are examples of __________ resources, while people are considered to be __________ resources.
capital; human
natural; human
physical; mental
mental; natural
In economics, capital goods include
buildings and equipment.
labor and management.
mental and physical work.
trees and water.
Why are resources considered limited?
Everyone has them, and they change.
Entrepreneurs do not invest enough of them.
There are so many that people must decide which ones to choose at any one time.
There are not enough available for everyone to have as much of them as desired.
A gap between unlimited wants and limited resources creates
scarcity.
economics.
wants.
resources.
Michelle is trying to decide which goods and services to purchase so that she can get maximum satisfaction. Michelle is
creating scarcity.
economizing.
increasing distribution.
a producer.
John only had $40 to spend and couldn’t decide whether to buy a new pair of jeans or to go to an amusement park. He finally decided to spend his money on the amusement park. What was the opportunity cost of his decision?
New pair of jeans
$40
No opportunity cost was involved.
Trip to amusement park
A manager is willing to accept the production of fewer products as long as their workers produce higher-quality products. The manager is making a(n)
exchange.
trade-off.
capital good.
distribution.
What are the three basic economic questions?
When will products be produced, how will products be produced, and how will products be allocated
Where will products be produced, when will products be produced, and what products will be produced
What products will be produced, how will products be produced, and how will products be allocated
When will products be produced, what products will be produced, and how will products be allocated
The heart of economics is
wants.
resources.
trade-offs.
decision-making.
Which of the following is the best reason for studying economics:
To determine which occupations interest you
To find the best use for resources and supplies
To prepare for effective decision-making and responsible citizenship
To learn how to invest money and express social responsibility
The ultimate goal of all economic activity is
consumption.
production.
exchange.
distribution.
For consumption to occur, goods and services must be
specialized.
improved.
exchanged.
produced.
What do consumers, producers, and the owners of resources do with money payments to create a flow of resources, goods, services, and money payments?
Exchange
Distribute
Produce
Consume
Distribution examines how income is divided between
producers and resource owners.
consumers and producers.
consumers and resource owners.
producers and economizers.
Consumers are typically most willing to pay more for goods and services that bring them greater
opportunity costs.
satisfaction.
popularity.
trade-offs.
Two factors involved in determining the value of a resource, good, or service are
availability and trade-offs.
demand and desires.
productivity and opportunity costs.
availability and demand.
A business can be described as a(n)
Disorganized effort to produce goods and services
Organized effort to produce goods and services
Reasonable way to make a profit
Unreasonable means for increasing
A business that exists to fulfill a specific mission or undertaking is called a business.
Mission-central
Focused
For- profit
Nonprofit
Every business must accomplish which of the following:
Produce or provide goods/services
Obtain venture capital
Issue corporate bonds
Trade or sell business assets/property
Which of the following represents a primary business activity:
Scheduling
Designing
Marketing
Supervising
Financial analysis occurs when a business
Communicates with potential customers
Keeps accurate expense records
Plans for long-term success
Effectively retrieves data
Within a local pizza ship, financial analysis is most likely used to
Attract customers
Oversee the baking process
Obtain funding for supplies
Develop the best recipe
Which of the following activities demonstrates human resources management:
The business gives its preferred customers a special discount
The business takes care of the responsibilities associated with having employees
The business includes top-level managers in long-term planning
The business acts on new information about a competitor
Janelle's Creative Supplies is opening an additional location on the other side of town. To successfully operate the new location, Janelle primarily needs
New carpet and paint
Extra free time
More advertising spots
Additional employees
Which of the following activities demonstrates information management:
Storing and retrieving information
Researching customers' needs
Hiring appropriate employees
Conducting employee evaluations
TeJuan's Fishing Shack demonstrates effective information managment by
Accessing a list of fishing equipment appropriate for a particular customer
Removing wasted materials from the process of providing goods to customers
Promoting new fishing equipment in a popular trade magazine
Hiring fishing experts to explain how to use the goods offered
Which of the following activities demonstrates the primary business activity of marketing:
The business prepares for long-term success by planning and organizing
The business meets customers' needs by offering appropriate products
The business expects to merge with another business in the industry
The business hires qualified employees to perform complex job duties
Franco's Bread Shop is introducing a new type of sandwich bread to the community this week. Which of the following describes the business activity that the bread shop will likely partake in before the release:
Collecting information on last year's new breads
Creating a system for storing new bread recipes
Planning for the long-term results of introducing new breads
Promoting the new bread through advertising
Which of the following behaviors best describes the primary business activity of operations:
Keep accurate financial records
Planning for future success
Producing goods and services
Hiring qualified employees
Making sure that a business has enough of a product in stock without having too much on hand is the goal of
Inventory management
Production
Quality control
Human resources management
Which of the following behaviors demonstrates the primary business activity of strategic management:
Recruiting appropriate employees
Obtaining funds for business projects
Planning and organizing for the future
Regularly updating business processes
For the long-term success of the business, Stacey's Coffee House has decided to add a self-serve laundromat. Which of the following Behaviors describes the business activity that Stacey's Coffee House was likely engaged in before making this decision:
Determining what will put it in reach of its goals
Establishing a system for retrieving information
Promoting its new service to potential customers
Organizing itself for meeting its objectives
Which of the following demonstrates the interrelationship among primary business activities:
A business changes its goals, so its strategies and tactics change, too.
A new product is introduced, so business advertisement must adjust
A business manager becomes vice president, so his/her department must adjust to the change
One business activity changes, so the others must adjust
When the Pretty Pictures framing business underwent internal restructuring las year, how would its primary business activities have reacted?
They stayed the same
They changed radically
They adjusted according to the internal changes
They adjusted according to the external changes
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 combined into one activity
Each primary business activity combines with the matching activity of the other firm
Each primary business activity became two smaller business activities
All of the primary business activities combined into two distinct activities
An example of performing business activities in an "out of ordinary" way is when business
Operates as the link between customers and products
Begins long-term planning and organization
Offers a new product in a popular product line
Hires an outside firm to perform its marketing
