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WorksheetsIntro to Business & Marketing Midterm Exam Questions (Grade 12)
Total questions: 59
Worksheet time: 52mins
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What is intrinsic motivation primarily driven by?
External rewards like bonuses or promotions
Avoidance of penalties or negative consequences
Internal factors such as personal satisfaction and interest in the task
Pressure from supervisors to meet deadlines
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following best describes extrinsic motivation?
Motivation driven by internal satisfaction and personal growth
Motivation driven by external rewards such as money, praise, or recognition
Motivation to achieve goals based solely on personal interests
Motivation that is unaffected by workplace policies or incentives
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following are the debts or obligations of a business?
Assets
Liabilities
Owner’s equity
Bonds
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is NOT a source of funding?
Borrowing funds
Selling stocks
Investors
Furniture from Goodwill
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which term sits at the very top of Maslow’s Hierarchy of Needs?
Needs
Food
Self-actualization
Belonging
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is NOT a level of Maslow’s hierarchy of needs?
Self-actualization
Self-esteem
Personal interest
Safety
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What are the four main stages of the product life cycle?
Introduction, Growth, Maturity, Decline
Research, Development, Launch, Withdrawal
Planning, Execution, Monitoring, Closing
Idea Generation, Screening, Testing, Commercialization
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is defined as a business which is owned and operated by one individual?
Partnership
Sole proprietorship
Entrepreneurship
Franchise
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is a type of business which operates as a separate legal entity with limited liability?
Corporation
Franchise
Partnership
Sole partnership
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is NOT an example of an organization?
An international corporation
A private school
A group of friends
A community non-profit affiliation
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following requires an individual to complete the same small task over and over again in order to contribute to a final project?
Span of control
Work specialization
Multitasking
Chain of command
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is the principle in which an employee should have only one supervisor to whom he or she is responsible?
Span of control
Authorization
Supervision
Chain of command
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is an example of an operative employee?
Regional manager
Head coach
Chairman of the board
Assembly line worker
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following types of organizational structures is normally found in a smaller business with fewer employees?
Employer-based structure
Informal structure
Employee-based structure
Formal structure
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following occurs when decisions are made by the individuals who are the closest to the problem?
Authorization
Centralization
Supervision
Decentralization
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is NOT one of the modes of transportation distribution typically uses?
Cable
Railroads
Trucks
Waterways
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. A company divides employees into eastern, southern, western and central regions. Which of the following describes such departmentalization?
Product departmentalization
Geographic departmentalization
Process departmentalization
Target market departmentalization
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following types of business structures consists entirely of work groups and teams which perform an organization’s work?
Productivity structure
Divisional structure
Employee-based structure
Team-based structure
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Who first identified cyclical patterns in the economy and created what is often referred to as the business cycle?
George Washington
Clement Juglar
Warren Buffett
Steve Jobs
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following lists each part of the business cycle?
Peak, Downhill, Pit, Expansion
Rise, Fall, Fallout, Resolution
Peak, Recession, Trough, Expansion
Peak, Recession, Pit, Explosion
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What is the lowest level of a recession?
Peak
Trough
Pit
Resolution
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Rent is an example of a ________ expense.
Fixed
Variable
Bad
Good
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the two stages of the business cycle decrease confidence in the economy?
Recession and recovery
Prosperity and recovery
Depression and recession
Prosperity and recession
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following is an example of a nonrenewable land resource?
Oil
Lumber
Vegetables
Water
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Which of the following terms describes the quantity of goods and services sellers are willing to offer at various prices at any given time?
Supply
Demand
Profit
Cost
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Fill in the blank. People don't buy what you do, ________________________.
They buy your products
They buy what they can
They buy why you do it
They buy colorful items
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What does the acronym ZOPA stand for?
Zone of Persuading Agents
Zone of Perpetual Agony
Zippers on Patagonia Apparel
Zone of Possible Agreement
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. Why is it important to identify the ZOPA in a negotiation?
It outlines the area of mutual benefit
It determines who has the most power
It ensures no compromises are made
It eliminates the need for alternatives
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What is a common mistake in negotiation?
Being too flexible with options
Failing to prepare adequately
Listening to the other party’s needs
Offering multiple solutions
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. If a negotiation reaches a stalemate, what is a productive next step?
Walk away immediately
Focus on finding common ground
Restart the negotiation with new participants
Demand the other party to compromise
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What is the primary goal of a negotiation?
To dominate the other party
To reach a mutually beneficial agreement
To avoid making any concessions
To force the other party to accept your terms
Multiple Choice (1 Point Each) Bubble the correct answer on scantron. What is the primary goal of business ethics?
Maximizing profit at any cost
Ensuring compliance with the law
Promoting responsible behavior and decision-making
Avoiding public scrutiny
Which of the following is a key component of ethical decision-making?
Ignoring stakeholder concerns
Considering the long-term consequences of decisions
Avoiding transparency
Prioritizing profit above all else
What does the term "stakeholders" refer to in ethical decision-making?
Only the company’s shareholders
Anyone affected by the company's decisions
The management team and board of directors
Competitors in the industry
What is the primary focus of corporate social responsibility (CSR)?
Reducing operational costs
Balancing economic, social, and environmental responsibilities
Expanding market share
Avoiding tax obligations
Which of the following is a key quality of an effective business leader?
Popularity among friends
Ability to motivate and inspire employees
Strictly following personal interests
Avoiding responsibility
How does an autocratic leadership style typically affect employees?
Increases collaboration and input
Decisions are made by the leader with little employee input
Employees have complete freedom in decision-making
Encourages employees to ignore rules
Why is ethical leadership important in large corporations?
It guarantees higher profits
It builds trust with employees, customers, and investors
It allows leaders to avoid accountability
It reduces the need for teamwork
When hiring a new employee, companies should consider:
Only education and experience
Only personal hobbies
Skills, experience, cultural fit, and potential for growth
Employee’s social media followers
Why is a fair hiring process important?
To save money
To select the best candidate and avoid discrimination
To fill positions as quickly as possible
To guarantee every applicant is hired
Which is a proper reason to terminate an employee?
The employee disagrees with a coworker
Consistent poor performance after warnings
The employee takes a vacation
The employee wears a different style of clothing
Teamwork is essential in modern businesses because:
Employees can compete with each other
It allows for collaboration and combining strengths
Managers can avoid responsibilities
Teams are always faster than individuals
Which two factors are most important for building an effective team?
Individual competition and secrecy
Communication and trust
Strict deadlines and punishment
Personal popularity and hierarchy
How should a manager handle conflict between team members?
Ignore it and hope it resolves
Mediate and find a solution that keeps productivity high
Fire both employees immediately
Let the employees fight it out
The "global business environment" refers to:
Local customer preferences only
The worldwide factors affecting businesses, like trade, culture, and regulations
Only international stock markets
Businesses operating only online
Two challenges of operating internationally are ________, while two benefits are ________.
Easier taxes and fewer regulations; higher wages and inflation
Cultural differences and legal restrictions; larger markets and growth opportunities
Language skills and teamwork; competition and tariffs
Shorter supply chains and faster delivery; more paperwork and cost
How can cultural differences impact global companies?
Only affect marketing campaigns
No real impact
Influence leadership, teamwork, and decision-making styles
Make all decisions easier
Which is the correct sequence of the main steps in decision-making?
Act → Identify → Evaluate → Implement
Identify the problem → Gather information → Evaluate alternatives → Make a decision → Implement → Review
Make a decision → Review → Gather information → Identify problem
Review → Act → Evaluate → Identify
Why must managers gather information before making decisions?
To look busy
To make informed decisions and reduce risks
To delay action
To avoid involving employees
An example of a poor business decision is launching a product without research. Which step was likely ignored?
Implementing the decision
Gathering and evaluating information
Reviewing outcomes
Identifying the problem
Open Ended Questions (5 Points Each) (25 Points Total). Please provide concise and well-supported answers to each question, using complete sentences and relevant examples where applicable. What is departmentalization and how can it help businesses reach an equilibrium?
Open Ended Questions (5 Points Each) (25 Points Total). Please provide concise and well-supported answers to each question, using complete sentences and relevant examples where applicable. How can businesses create a competitive advantage? Give 3 examples and explain your reasoning. (Be as specific as you’d like.)
Open Ended Questions (5 Points Each) (25 Points Total). Please provide concise and well-supported answers to each question, using complete sentences and relevant examples where applicable. List 3 positives and 3 negatives of a Formal business structure. List 3 positives and 3 negatives of an Informal business structure. Draw a simple diagram of each structure.
Open Ended Questions (5 Points Each) (25 Points Total). Please provide concise and well-supported answers to each question, using complete sentences and relevant examples where applicable. What is work specialization? What are the positives of work specialization for business owners? What are the negatives of work specialization for employees?
Open Ended Questions (5 Points Each) (25 Points Total). Please provide concise and well-supported answers to each question, using complete sentences and relevant examples where applicable. Make a list of 3 Extrinsic and 3 Intrinsic motivators for you at Immaculate High School.
Essential Mini-Projects (5 Points Each) (25 Points Total). Review the instructions and answer on a separate sheet of paper. Describe the 4 stages of the business cycle using real-world businesses or products as examples for each stage. Then draw the business cycle with labels for the 4 stages.
Essential Mini-Projects (5 Points Each) (25 Points Total). Review the instructions and answer on a separate sheet of paper. What is the difference between extrinsic and intrinsic motivators? Why do employees perform better when more motivators are present? What happens to employees without motivators? Support your claims with examples from Maslow’s Hierarchy of Needs.
Essential Mini-Projects (5 Points Each) (25 Points Total). Review the instructions and answer on a separate sheet of paper. Create a SWOT Analysis diagram for two of these businesses. Be sure to include 5 examples for each quadrant. Be sure to include the name of the businesses you choose. Be sure to put your examples in the correct quadrants. a. McDonald’s b. Adidas c. Ford Motor Company d. Ben & Jerry’s Ice Cream e. Bank of America f. Target
Essential Mini-Projects (5 Points Each) (25 Points Total). Review the instructions and answer on a separate sheet of paper. Draw a floor plan for one of the businesses you’ve created in class this year. Make sure you label things clearly. I will have rulers available. Things to include: a. Machinery b. Storage c. Merchandising (Shelving) d. POS Terminals (Cash Registers, ect.) e. Computers f. Entrances, Exits g. Loading Docks h. Signage i. Security j. Offices (Your office) k. Seating l. Break Room m. Garbage Disposal n. Parking (If you have room)
