WorksheetsIB SL & HL first year Final Exam
Total questions: 50
Worksheet time: 25mins
Name
Class
Date
1.
An example of public sector organization
a)
IBM
b)
APPLE
c)
CIA
d)
FACEBOOK
2.
An example of private sector organization
a)
business owned by the government
b)
Police
c)
school district
d)
Facebook
3.
An example of public business is
a)
a business that is owned by stock holders and traded on the stock market
b)
a business that is owned by family members
c)
CIA
d)
by a small group of people but not traded on the stock market
4.
An example of private business is
a)
a business that is owned by stock holders and traded on the stock market
b)
a business that is owned by members of another country
c)
CIA
d)
by a small group of people but not traded on the stock market
5.
An example of sole trader
a)
a group of people own the business
b)
business that is owned by family members
c)
one person owns the business
d)
by a small group of people who own a business but do not trade on the stock market
6.
An example of partnership is
a)
a business that is owned by stock holders and traded on the stock market
b)
a business that is owned by more then 20 people
c)
a group of 2-20 people own the busines
d)
by a small group of people who own shares in a business but do not trade on the stock market
7.
A LLC is a company that
a)
has limited liability
b)
can only be a sole trader
c)
limited liquid cash
d)
is required by law for all businesses
8.
A vision statement is
a)
when you eye sight improves
b)
what business hope to be if everything goes their way
c)
when you have a spiritual vision
d)
is a statement of how workers should perform each day of work
9.
A mission statement is
a)
when your eye sight improves
b)
what business hope to be if everything goes their way
c)
when you have a spiritual vision
d)
is a statement of how workers and business should perform each day
10.
Ethical objectives are
a)
moral values set to protect people and environment
b)
moral values set to protect your profits
c)
moral values set to protect your business
d)
moral values set to protect your assests
11.
Internal Stakeholders include all EXCEPT
a)
suppliers
b)
Shareholders
c)
employees
d)
managers
12.
External Stakeholders include all EXCEPT
a)
suppliers
b)
Customers
c)
employees
d)
Special interest groups
13.
STEEPLE Analysis is an acronym for the following
a)
Political, Effectively, Social, Technology, Emergency, Enormous
b)
People, Economic, lobby, Empathy, Social, Technology, Entire Country
c)
Social Technology, Ethics, Environment, Political, legal, Economic, ,
d)
Luigi, Political, Economic, Science, Technology, Entertainment, Europe
14.
SWOT Analysis is an acronym for the following
a)
Small, weakness, opportunity, threat
b)
Strength, weakness, opposite, threat
c)
Strength, weakness, opportunity, threat
d)
Strength, weird, opportunity, threat
15.
Economies of scale is when
a)
business get a discount for buying in bulk
b)
a measurement tool for business math
c)
a scale to show how the business is doing
d)
a scale to weight your assets
16.
Internal growth is when
a)
is when you feel an alien growing inside you
b)
your business expands without using outside finances
c)
is when you hire more employees
d)
you grow as person
17.
A merger is when
a)
when two people get married
b)
when traffic of two lanes becomes one lane
c)
two business combine to make one larger business
d)
a plan to increase market share
18.
Horizontal takeover is when
a)
business takes over its competitors
b)
business takes over its supplier
c)
business takes over its customer
d)
business takes over a business with nothing in common
19.
Forward vertical takeover is when
a)
business takes over its competitors
b)
business takes over its supplier
c)
business takes over its customer
d)
business takes over a business with nothing in common
20.
Backward vertical takeover is when
a)
business takes over its competitors
b)
business takes over its supplier
c)
business takes over its customer
d)
business takes over a business with nothing in common
21.
Lateral/ conglomeration takeover is when
a)
business takes over its competitors
b)
business takes over its supplier
c)
business takes over its customer
d)
business takes over a business with nothing in common
22.
Joint ventures
a)
two businesses stay independent but work together on a project
b)
business takes over its supplier
c)
business takes over its customer
d)
business takes over a business with nothing in common
23.
Human Resources are responsible for
a)
humans using robots to work
b)
all things that humans do
c)
hiring, firing, training, health insurance of employees
d)
marketing, accounting, production
24.
Barriers of communication include all EXCEPT
a)
language
b)
long chain of command
c)
technical difficulties
d)
really thick cubical walls
25.
Leadership style that one person makes all the decisions
a)
Autocratic
b)
Laissez faire
c)
democratic
d)
situation leadership
26.
Leadership style that discusses all the decisions
a)
Autocratic
b)
Laissez faire
c)
democratic
d)
situation leadership
27.
Leadership style that managers lets workers do as they like
a)
Autocratic
b)
Laissez faire
c)
democratic
d)
situation leadership
28.
Leadership style that takes over when needed for special circumstances
a)
Autocratic
b)
Laissez faire
c)
democratic
d)
situation leadership
29.
Which motivation theory is theory of scientific management
a)
Taylor’s
b)
McGregor
c)
Maslow’s
d)
Herzberg’s
30.
Which motivation theory is theory of Hierarchy of Needs
a)
Taylor’s
b)
McGregor
c)
Maslow’s
d)
Herzberg’s
31.
Which motivation theory is theory of Theory X and Theory Y
a)
Taylor’s
b)
Maslow’s
c)
McGregor
d)
Herzberg’s
32.
Which motivation theory is theory of Hygiene Factors
a)
Taylor’s
b)
Maslow’s
c)
McGregor
d)
Herzberg’s
33.
Internal sources of finance include
a)
Retained profits
b)
saved up money
c)
sell fixed assets
d)
all the above
34.
External sources of finance include
a)
family or friends
b)
Short term loan
c)
overdraft
d)
all the above
35.
When a business current assets minus current liabilities (CA-CL)
a)
working capital
b)
cash reserve
c)
profit margin
d)
balance sheet
36.
When a business total assets equals total liabilities (CA=CL)
a)
working capital
b)
cash reserve
c)
profit margin
d)
balance sheet
37.
The gradual decrease in value of an asset
a)
dividends
b)
intrest
c)
depreciation
d)
inventory control
38.
Using the 4 p’s of marketing PRODUCT refers to what
a)
What the item is and how people can use it
b)
informing customers about your product
c)
an amount that’s not too expensive but still makes a profit
d)
distribution of the product to customers
39.
Using the 4 p’s of marketing PRICE refers to what
a)
What the item is and how people can use it
b)
informing customers about your product
c)
an amount that’s not too expensive but still makes a profit
d)
distribution of the product to customers
40.
Using the 4 p’s of marketing PROMOTION refers to what
a)
What the item is and how people can use it
b)
informing customers about your product
c)
an amount that’s not too expensive but still makes a profit
d)
distribution of the product to customers
41.
Using the 4 p’s of marketing PLACE refers to what
a)
What the item is and how people can use it
b)
informing customers about your product
c)
an amount that’s not too expensive but still makes a profit
d)
distribution of the product to customers
42.
An example of a product that has market driven marketing is
a)
IPod
b)
none of the above
c)
Segway (mall cops)
d)
all of the above
43.
An example of a product that has Product driven marketing is
a)
Ipod
b)
none of the above
c)
Segway (mall cops)
d)
all of the above
44.
An example of primary research is
a)
handing out flyers
b)
conducting a survey
c)
using research from another a website
d)
all of the above
45.
An example of secondary research is
a)
handing out flyers
b)
conducting a survey
c)
using research from another a websit
d)
all of the above
46.
Using the product life cycle which answer best describes: launch
a)
introducing a new product to the market
b)
increasing market share
c)
reached its max in sales, inventory starts to build up
d)
product is no longer relevant
47.
Using the product life cycle which answer best describes: Growth
a)
introducing a new product to the market
b)
increasing market share
c)
reached its max in sales, inventory starts to build up
d)
product is no longer relevant
48.
Using the product life cycle which answer best describes: saturation
a)
introducing a new product to the market
b)
increasing market share
c)
reached its max in sales, inventory starts to build up
d)
product is no longer relevant
49.
Using the product life cycle which answer best describes obsolescence
a)
introducing a new product to the market
b)
increasing market share
c)
reached its max in sales, inventory starts to build up
d)
product is no longer relevant
50.
Using the product life cycle which answer best describes: decline
a)
introducing a new product to the market
b)
product is no longer relevant
c)
reached its max in sales, inventory starts to build up
d)
Forced to find New ways of sales promotion, example: buy one get one, 50 %
100 %
