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WorksheetsUnit 2 Study Guide
Total questions: 50
Worksheet time: 25mins
What is data integrity concerned with?
The speed of data processing
The accuracy and validity of data over its lifecycle
The cost of data storage
The design of data systems
What does Information Management (IM) involve?
Designing new software
Collecting, organizing, storing, and securing data
Building physical assets
Creating marketing strategies
What is an intangible asset?
A physical building
A piece of machinery
Anything of value that is not physical in nature
A company vehicle
What is intellectual property (IP)?
Physical goods
Anything created from the mind or intellect
Natural resources
Financial assets
What is a Management Information System (MIS)?
A manual filing system
A computerized system supporting Information Management
A type of hardware
A marketing tool
What is the focus of risk management?
Increasing profits
Identifying and managing potential negative events
Designing new products
Hiring new employees
What is a trade secret?
A publicly known business strategy
A practice or process with economic value not generally known outside the company
A type of patent
A government regulation
What is the primary goal of cyber security?
To increase internet speed
To ensure confidentiality, integrity, and availability of information
To reduce software costs
To enhance user interface design
Which term refers to the protection of networks and data from unauthorized access?
Data Integrity
Cyber Security
Risk Management
Information Management
What does an audit primarily assess?
The creativity of a team
The safety, integrity, and accuracy of information
The financial status of a company
The design of a product
Which of the following is an example of intellectual property?
A company car
A patented invention
A factory building
A warehouse
What is the process of categorizing, sorting, and transporting goods to their final destinations efficiently?
Fleet Management
Distribution
Logistics
Manufacturing
Which term refers to managing vehicles over their useful life to ensure efficient operations?
Gross Margin
Production
Fleet Management
Transportation
What is the margin called when sales revenue minus cost of goods sold is calculated?
Inputs
Gross Margin
Output
Operations
What are resources used to make goods and services, like raw materials and labor, called?
Logistics
Inputs
Manufacturing
Purchasing
What is the process of optimizing the flow of inputs and outputs until goods reach their final destination?
Distribution
Fleet Management
Logistics
Mass Production
What is the making of products from raw materials and other inputs like labor and machinery called?
Manufacturing
Production
Operations
Purchasing
What involves using technology and assembly lines to make large quantities of the same product?
Transportation
Mass Production
Output
Distribution
What term describes the daily functioning of an organization, managing inputs and outputs?
Operations
Logistics
Fleet Management
Purchasing
What is the end result of the process that uses inputs to make goods and services?
Inputs
Output
Production
Manufacturing
What is the creation of usable goods called?
Production
Distribution
Logistics
Fleet Management
What is the organized acquisition of goods and services on behalf of a business?
Transportation
Purchasing
Manufacturing
Operations
What does Artificial Intelligence refer to?
A markup language for web pages
The ability of a computer to emulate human reasoning
Items shipped into and out of the country
A network of connected devices
What is a Business Trend?
A general change in the way business is developing
A markup language for web pages
A network of connected devices
The gain or loss on an investment
What is HTML used for?
Creating web pages
Measuring investment returns
Connecting devices to the internet
Shipping items internationally
What does the Internet of Things (IoT) involve?
A markup language for web pages
A network of devices connected to the internet
Measuring investment returns
A general change in business
What is Leverage in a business context?
A markup language for web pages
An action to gain advantage or increase ROI
A network of connected devices
A general change in business
What is Machine Learning (ML)?
A markup language for web pages
A way for machines to receive information and make decisions
Items shipped into and out of the country
A general change in business
What does Return on Investment (ROI) measure?
The ability of a computer to think and learn
The gain or loss generated on an investment
A network of connected devices
A markup language for web pages
What is a Trend?
A markup language for web pages
A general change or movement
A network of connected devices
Items shipped into and out of the country
Which term describes a network of devices that communicate over the internet?
HTML
IoT
ROI
ML
Which concept involves using borrowed capital to increase potential ROI?
Machine Learning
Leverage
Artificial Intelligence
Ambient Intelligence
Which term is associated with creating web pages?
IoT
HTML
ROI
ML
Which term refers to the ability of machines to learn and make decisions?
HTML
IoT
Machine Learning
Leverage
Which term is used to describe a prevailing tendency or style?
Trend
Leverage
HTML
IoT
What does competition refer to in a business context?
Cooperation between companies.
The rivalry between companies selling similar products and services.
A monopoly in the market.
Government regulation of businesses.
What is direct competition?
When companies offer different products.
When companies offer essentially the same product or service.
When companies collaborate on a product.
When companies avoid competition.
What is indirect competition?
When products or services are identical.
When products or services are not the same but satisfy the same need.
When companies merge.
When there is no competition.
What characterizes monopolistic competition?
A single supplier dominates the market.
Many suppliers with low barriers to entry, but products are differentiated.
No competition exists.
Government controls all suppliers.
What is a monopoly?
A market with many suppliers.
A market where one company controls the supply of a good or service.
A market with no barriers to entry.
A market with perfect competition.
What is non-price competition?
Competing based on price alone.
Competing based on features and attributes other than pricing.
Competing by lowering quality.
Competing by increasing production costs.
What is an oligopoly?
A market with many small companies.
A market with a small number of companies controlling supply.
A market with no barriers to entry.
A market with perfect competition.
What is price competition?
Using features to attract customers.
Using pricing to attract customers.
Using advertising to attract customers.
Using quality to attract customers.
What is primary data?
Data collected from secondary sources.
Data collected from government reports.
Information collected directly from first-hand experience.
Information collected from textbooks.
Which of the following is NOT an example of direct competition?
Coke and Pepsi
Bicycles and cars
Apple and Microsoft
Nike and Adidas
Which of the following is an example of indirect competition?
Coke and Pepsi
Bicycles and cars
Ford and GM
Nike and Adidas
In a monopoly, what is the status of barriers to entry for other companies?
Low
Non-existent
Highly restrictive
Moderate
What is Pure Competition?
A market with a few companies selling unique products
A market where a large number of companies provide the same product at similar prices
A market with high barriers to entry
A market dominated by a single company
What are Regulated Monopolies?
Markets with no government supervision
Markets where multiple small companies compete
Large entities allowed under strict supervision for efficiency
Markets with high competition and low prices
What is Secondary Data?
Data collected firsthand by researchers
Data that has already been collected from other sources
Data that is not yet analyzed
Data that is collected through experiments
