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FREE MANAGEMENT AND STUDY GAMES ABOUT BECK
MGMT. CHP.1 EXAM QUESTIONS
Qs and Ans Expert- Explanation
This Exam contains:
-Guarantee passing score -14 Questions and Answers -format set of multiple-choice -Expert- Explanation
Question 1: someone who starts, manages, and owns a business
Answer:
entrepreneur Question 2: organization that produces or distributes a good or service for profit
Answer:
business Question 3: ability of businesses from one country to compete with similar businesses in other countries
Answer:
global competition
Question 4: quantity produced within a given time
Answer:
output
Question 5: all businesses within a category doing similar work
Answer:
industry Question 6: businesses that produce goods used by other businesses or organizations to make things
Answer:
industrial users Question 7: to reduce the amount and variety of goods/services produced and the number of employees needed to produce them
Answer:
downsizing Question 8: total market value of all goods and services produced in a country in a year
Answer:
gross domestic product
Question 9: something entirely new
Answer:
innovation Question 10: producing products/services quickly, at low cost, without wasting time and materials
Answer:
efficiency
Question 11: products made by firms in other countries
Answer:
foreign goods Question 12: parent company of a franchise agreement that provides the product or service
Answer:
franchisor
Question 13: activity that involves making a product or providing a service
Answer:
production Question 14: businesses that use mostly labor to offer mostly intangible products to satisfy consumer needs
Answer:
service business
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