WorksheetsIntro to Business (S2) Final Exam
Total questions: 52
Worksheet time: 26mins
Name
Class
Date
1.
Businesses are in operation to:
a)
Provide goods and services
b)
Make a profit
c)
Hire employees who help the business grow while making a living wage
d)
All of the above
2.
Things that you can see and touch
a)
Service
b)
Goods
c)
Wants
d)
Demand
3.
Not having enough resources to satisfy every need can be defined best as:
a)
Scarcity
b)
Demand
c)
Trade-off
d)
Service
4.
Capital in its simplest terms is money or things of value:
a)
True
b)
False
5.
Capital is used by a business to buy what they need to run the business
a)
True
b)
False
6.
The Economy system used in the United States, is called Capitalism
a)
True
b)
False
7.
In a Market Economy, the market place is confined to a physical place of business
a)
True
b)
False
8.
Capitalism is:
a)
the basic component of a Market economy
b)
The primary economic system used in the United States of America
c)
often defined as freee enterprise
d)
based on four principles of private property, freedom of choice, profit and competition
e)
All of the above
9.
Investing money means that you are:
a)
Using your income to earn more money
b)
Saving for an emergency
c)
Saving money for future use
d)
All of the above
10.
The first step of the career planning process is to
a)
prepare a resume and cover letter
b)
interview for a job
c)
determine your interests and abilities
d)
obtain career training
11.
Marketing can be defined as:
a)
creating, communicating and delivering value to customers
b)
The same as Advertising but more advanced and detailed
c)
Selling things at the market or a retail shop to make a living
d)
None of the above
12.
Credit is the privilege of using someone else’s money for a period of time
a)
True
b)
False
13.
Insurance is which of the following:
a)
Protects people from loss in exchange for a fee
b)
Helps people avoid financial difficulties
c)
It's a type of risk management
d)
All of the above
14.
Which policy is the cheapest with the most coverage?
a)
Whole Life
b)
Annually Renwable
c)
Term Life
d)
None
15.
The healthcare items or services covered under a health insurance plan are called...
a)
Benefits
b)
Assets
c)
Deductibles
d)
Plans
16.
A beneficiary is...
a)
Anyone not covered under a particular health insurance plan, also known as the "benefactor"
b)
Anyone covered under a particular health insurance plan, also known as the "insured"
c)
Anyone living without health insurance and is considered to a very healthy person.
d)
None of the above
17.
The exclusive right of an inventor to make, sell, and use a product or process is called a
a)
trademark
b)
patent
c)
copyright
d)
claim
18.
A cosigner is some willing to use their good credit to help you make a large purchase such as a car.
a)
Yes
b)
No
c)
Maybe
19.
The cost of borrowing or using someone else’s money is called
a)
Capital
b)
Expenses
c)
Interest
d)
None of the above
20.
What does the "I" represent in the simple interest formula?
a)
The interest rate
b)
The total principal
c)
The total interest money will earned
d)
The total amount of borrowed money
21.
The principal can be described as _______.
a)
the interest my money collected
b)
the amount of money invested
c)
the time it took my money to grow
d)
the bank I invested my money in
22.
Usually time (T) in the simple interest formula is measured in ________.
a)
months
b)
years
c)
days
d)
hours
23.
When multiplying the interest rate (R) you have to make sure _______.
a)
it is a whole number
b)
is bigger then 100%
c)
it is in decimal form
d)
it is in percent form
24.
If the number is a zero, the computer gets a electrical impulse
a)
True
b)
False
25.
If the number is a 1 electricity is sent to that digit
a)
True
b)
False
26.
The zeros and ones are called bits
a)
True
b)
False
27.
1 0 0 0 0 0 0 0
a)
129
b)
128
c)
12
d)
16
e)
None of the above
28.
0 0 1 0 1 0 1 0
a)
48
b)
38
c)
42
d)
45
e)
Option 3
29.
The __________________ is the computer's main circuit board.
a)
hardware
b)
CPU
c)
motherboard
d)
motherbox
30.
The CPU is brain of the computer and means:
a)
Central Processing Unit
b)
Certral Public Unit
c)
Character Processing Unit
d)
None of the above
31.
Markup Price formula is: SELLING PRICE = COST + MARKUP
a)
True
b)
False
32.
A marketing plan for the Bud Biliken Day Parade
a)
Person Marketing
b)
Place Marketing
c)
Event marketing
d)
Organization marketing
33.
A marketing plan to promote Wisconsin Dells
a)
Person Marketing
b)
Place Marketing
c)
Event marketing
d)
Organization marketing
34.
A marketing plan for a United Way fundraiser
a)
Person Marketing
b)
Place Marketing
c)
Event marketing
d)
Organization marketing
35.
The Marketing Mix has for Ps which are, Price, Product, Promotion and Place
a)
People, planning, purple and playstation
b)
Price, Product, Promotion and Place
c)
Pleasing, placement, peace and prosperity
d)
None of the above
36.
Profit can be defined as the rewards for successfully running a business
a)
True
b)
False
37.
Volunteer work (Select the two boxes)
a)
leads to a real job
b)
Can help you learn job related skills
c)
Enhances your resume
d)
All of the above
38.
The minimum age for working in United States
a)
16
b)
18
c)
14
d)
none of the above
39.
People invest in:
a)
Real estate
b)
Stock Market
c)
Bond Market
d)
All of the above
40.
What does IPO stand for?
a)
Initial Business Offering (of Shares)
b)
Initial Public Offering (of Stock)
c)
Interest Public Organization (of Stock)
d)
Interest Personal Organization (of Stock)
41.
AAPL, GOOG, GPRO, MCD, TWTR, VRQ... are all examples of what?
a)
Ticker Symbols
b)
Ticker Tape Parades
c)
Alphabet Soup
d)
Prices
42.
Investment stocks are:
a)
a plan to put food away for future use (to stock up on food)
b)
stock for making a stew
c)
a type of investment that gives you part ownership in a company
d)
None of the above
43.
Which of the following is true concerning investment bonds:
a)
Purchasing a bond means you are lend money to a company or the government
b)
A bond cannot come from the Department of the Treasury
c)
Corporate Bonds provide a guarantee that your investment will be returned to you
d)
None of the above
44.
Mutual Funds are investments spread out among many investment companies :
a)
True
b)
False
45.
Commodities are:
a)
Grain, livestock, precious metals, currency, and financial instruments
b)
Earnings for the lottery
c)
People with skills and talents and for making investments
d)
None of the above
46.
Collectables are:
a)
Old things that have no value
b)
Rare items bought with the hope that their value will increase
c)
Collectibles are a family of supers just like "The Incredibles"
d)
None of the above
47.
Risk is the acknowledgement that the money you might invested in stocks might not be returned to you.
a)
True
b)
False
48.
On the "PAY TO THE ORDER OF" line you should print the:
a)
The dollar amount using words e.g., three hundred, fourth five
b)
Person you're writing the check out to
c)
A short description of the reason for the check
d)
None of the above
49.
On the "dollars" line you should print the:
a)
Write the dollar amount using words with a line coving un-used space
b)
Person your writing the check to
c)
A short description of the reason for the check
d)
None of the above
50.
Which of the following is not one of the three major credit bureaus in the United States?
a)
A) Equifax
b)
B) TransUnion
c)
C) Experian
d)
D) FICO
51.
What is the main purpose of a credit bureau?
a)
A) To issue loans to consumers
b)
B) To collect and maintain credit information about consumers
c)
C) To set interest rates for banks
d)
D) To determine mortgage approval
52.
Which of the following factors has the greatest impact on a person’s credit score?
a)
A) Length of credit history
b)
B) Payment history
c)
C) Types of credit used
d)
D) Recent credit inquiries
100 %
