FREE BUSINESS AND STUDY GAMES ABOUT INTRO MID

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FREE BUSINESS AND STUDY GAMES ABOUT INTRO MID

TERM EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -133 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation

Question 1: goverment is mainly concerned with all the following roles except

a)making a profit b)regulating utilties c)hiring public employees d)providing services to citezens

Answer:

making a profit

Question 2: the most successful business owners

Answer:

establish good working relationships with professionals such as bankers, lawyers and accountants

Question 3: a natural, inborn aptitude to do certain things is called

Answer:

a talent

Question 4: the people who make the major policy and financial decisions for a corporation are called

Answer:

the board of directors Question 5: which type of economy is usually centered mainly on meetings peoples basic needs?

Answer:

traditional economy

Question 6: role and work of managers

Answer:

planning(analyzing info), orginaizing(arrenging the work and resources), staffing(obtaining, preparing and paying employees), implementing(direct and lead people to accomplish the work), controlling(determine success)

Question 7: if you purchase a coroporate or goverment bond you are

Answer:

a creditor

Question 8: the peace of the business cycle is

Answer:

prosperity

Question 9: which business form of ownership is the least common?

Answer:

partnership

Question 10: intrest

Answer:

cost of borrowing money

Question 11: public utility

Answer:

orginization that supplies a service or product vital to all people

Question 12: proprietorship

Answer:

is a business owned and run by one person

Question 13: what is the final decision making process?

Answer:

review your decision

Question 14: the largest producer of goods and services in the world is

Answer:

the usa

Question 15: the process of talking to othe rpeople about their jobs is called

Answer:

networking

Question 16: corporation

Answer:

seperate legal entity formed by documents filled with your state

Question 17: internship

Answer:

watching how to work at a job

Question 18: executives spend most of their time

Answer:

planning and controlling activities

Question 19: intermediaries

Answer:

retaliers and wholesalers

Question 20: proprietorship

Answer:

easiest form of business to start

Question 21: gdp measures a countrys economic output during

Answer:

one year

Question 22: trade barriers

Answer:

quota- goverments limit on the quanity of a product that may be inported/exported.tariff- tax goverment places on certain imported products.embargo- stop export or import compleatly

Question 23: what is a free trade zone?

Answer:

a selected area where products can be imported duty free and then stored, assembled or useed in manufacturing

Question 24: if you start a new business you need info about

Answer:

the competitors, goverment regulations, and customers Question 25: in the US total goverment purchses of goods and service make up about ______ percent of all the goods and servies the country produces

Answer:

20%

Question 26: business deficit

Answer:

goverment spends more than taken in

Question 27: starting a small business

Answer:

an idea plus experience, right place and time, team approach, preparation and research