Business Management Test #1 Exam Questions And Answers 2024

Business Management Test #1 Exam Questions And Answers 2024 Are most of the businesses currently operating in the United States manufacturing firms? - answerNo Do businesses vary in size from one employee to thousands of employees? - answerYes Is an organization that produces or distributes a good or service for profit called a business? - answerYes Do service firms produce goods? - answerNo Does marketing deal with money matters related to running a business? - answerNo Does the supply of a product refer to the number of similar products that will be bought at a given time and at a given price? - answerNo Do industrial businesses produce goods that other business use the make things? - answerNo Are banks and investment companies classified as industrial businesses? - answerNo Because a government provides fire and police protection, can it be considered an industry? - answerYes Are service businesses growing faster - answerYes Does effectiveness occur when an organization produces needed goods or services quickly and at a low cost? - answerNo Are firms that are extremely efficient always very efficient? - answerNo Is the concept of the total quality management a commitment to excellence that is accomplished by teamwork and continual improvement? - answerYes Can the Malcolm Baldridge Award be present to companies from any country? - answerNo, only the US Does output refer to the quantity, or amount, produced within a given time? - answerYes