WorksheetsBM Final
Total questions: 36
Worksheet time: 26mins
International Business typically means business activities that occur between two or more countries.
True
False
NAFTA stands for North America Free Trade Agreement.
True
False
NAFTA has how many members currently?
25
28
3
80
The country in which the business has its headquarters is referred to as the...
host country
home country
subsidiary
parent country
When a country can produce goods more efficiently and at a lower cost than another country is called _____.
Export
Import
Absolute Advantage
Comparative Advantage
Things nature provides that we use for our wants/needs
Capital Resource
Reference Resource
Natural Resource
Human Resource
The point on a Supply and Demand graph where the perfect amount of supply is given for the perfect amount of demand.
(a)
Which of the following is an example of capital resource
Tools and Equipment
A business
Ideas
Currency
The three trade barriers are
(a)
Goods that are used to make other goods and/or to provide services
Capital Resource
Natural Resource
Human Resource
Reference Resource
A business is an organization that produces or distributes a good or service for profit.
True
False
Commercial businesses are engaged in marketing and finance but are not in providing services.
True
False
Is it true that foreign goods and domestic goods affect global competition?
True
False
Is it true, as a business owner, you do not have any obligations to the community around you?
True
False
Empowerment is letting workers participate in the process of their job descriptions and the direction of the company.
True
False
Effectiveness is making the right products quickly, at low cost, without wasting materials.
True
False
Efficiency is making the right decision about what products or services to offer customers.
True
False
(a) includes all the activity between a business and its customers in buying and selling of goods/services. (Visuals, Ideas, Needs, Wants, etc...)
(a) is a part of business that focuses on the distribution of money.
A business owned and managed by one person is a
sole proprietorship
limited partnership
proprietorship
The SBA sponsors free consulting help through
all of the above
Entrepreneurship Support Centers (ESCs)
SBA Development Centers (SDCSs)
Small Business Development Centers (SBDCs)
Explain how a good business plan will help someone successfully open a new business.
Describe what kinds of businesses are most suited to the proprietorship form of business ownership.
A network of companies that form alliances among themselves as needed to take advantage of fast-changing market conditions is a
corporation
virtual company
joint venture
subcorporation
If a corporation wants to enter into a different business, it
must close and re-form
must change its charter or file a new one
can do this at any time
must change its name
A corporation must include in its name
an indication that the company is a corporation
the major owners’ names
the state in which the company was founded
the purpose of the business
A business that is important to society but lacks the profit potential to attract private investors and is often operated by local, state, or federal government is called a
not-for-profit corporation
Subchapter S corporation
nano-public corporation
quasi-public corporation
A business owned by a group of people and authorized by the state in which it is located to act as though it were a single person, separate from its owners, is called a
virtual company
joint venture
corporation
sub corporation
Which of the following statements about the role of managers is true?
There are only two levels of management in most businesses.
Managers are responsible for the success or failure of the company
Managers are responsible for completing the day-to-day work of a business.
Managers make up the greatest percentage of employees in a business.
The first level of management in a company is typically
work coaches
mid-managers
supervisors
executives
Which of the following is not one of the factors that determines the effectiveness of a supervisor’s job?
the efficient use of the company’s resources
the satisfaction of the supervisor’s employees
increases in the company’s total profits
the quality of work of the supervised employees
An appropriate way to improve the quality of work accomplished in a supervisor’s work area is for the supervisor to
all of the above
spend a short amount of time helping an employee improve their work procedures
step in and take over the work of an employee who is not performing correctly
schedule more employees than are required to complete the work
New information not yet included in a management information system can be gathered by
asking what-if questions
conducting research
asking employees
reviewing company records
The first step in the problem-solving procedure is to
analyze several solutions
identify possible symptoms
locate and identify the problem
conduct research
What skills do supervisors and other managers need in order to manage business information effectively?
WTO stands for World Trade Organization
True
False
