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FBLA Introduction to Business Exam|160 Complete Questions & Answers
FBLA Introduction to Business Exam|160 Complete Questions & Answers
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FBLA Introduction to Business Exam|160 Complete Questions & Answers
One of the disadvantages of having a partnership is - -unlimited liability
- An organization that is owned and operated by its members is a ______ - -
cooperative
- A contractual agreement to use the name and sell the products or services
of a company in a designated geographic area is called a ______ . - -franchise
- If one of your goals is to limit your personal liability, it would be best to
organize your business as a ______ . - -cooperation
- A business owned by ten people who share the risks and rewards of the
business is a ____ - -partnerships
- 3 c's - -Capital, Capacity, Character,
- makes a completely finished product out of raw or processed parts. - -
manufacturer
- packagers - -processor
- producer - -make the before final product
- moves finished goods, stores them, and resells them to a wholesaler - -
intermediary
- Which department in a company sets the price of a product? - -marketing
- The highest level of management in the organization; responsible for
direction and control of the organization as a whole (such as director;
general manager; partner; chief officer and executive manager). - -top level
management
- Responsible for meeting the goals that senior management sets - -middle
management
- Responsible for monitoring the daily activities of the business - -
operational management
- Which managerial function comes first when executing business goals? - -
planning
, - Which is NOT an aspect of the organizing function? - -creating strategies
- Which is NOT part of the leadership function for a manager in charge of a
project? - -hiring employees
- In a large company, to whom would an operational manager generally
report? - -a middle manager
- the ability to make decisions on your own - -initiative
- integrity - -honesty
- Who makes the final decision in a democratic leadership situation? - -the
democratic leader
- Which kind of leader does the most delegating? - -free-rein
- leaders set goals for managers and employees, then allow them to make
the decisions to achieve those goals. - -free rein
- leader gets input from the group, then makes the final decision about a
situation. - -democratic leader
- do not ask for input from their workers; they expect their orders to be
obeyed without question. - -autocratic
- Which is NOT considered an aspect of technology? - -inventors
- Which was inspired by the invention of the telephone? - -fax
- What makes a cell phone different from a telephone? - -cells are small
computers
- Anyone who uses a computer while working - -e-workforce
- a store that sells products in stores and online - -click and mortar
- Which types of products do other countries mostly buy from the U.S.? - -
agricultural
- When a country's currency is higher than another's, it has - -more buying
power
- NAFTA - -North American Free Trade Agreement
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