FREE MANAGEMENT AND STUDY GAMES ABOUT BECK

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FREE MANAGEMENT AND STUDY GAMES ABOUT BECK

MGMT. CHP.1 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -14 Questions and Answers -format set of multiple-choice -Expert-Verified 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