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INTRO TO BUSINESS(NCTI) QUESTIONS WITH VERIFIED ANSWERS ALREADY GRADED A+
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INTRO TO BUSINESS(NCTI) QUESTIONS WITH VERIFIED ANSWERS ALREADY GRADED A+
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Name: Score:224 Multiple choice questions
Term 1 of 224
Economic System
economic system that allows individuals to pursue their own interests without undue
governmental restriction. requires the presence of four elements: private property rights,
freedom of choice, profits, and competition.
Employee-focused leader behaviors.
political system in which the government owns and operates all factors of production
a nation's system
for allocating its resources among its citizens
Term 2 of 224
Communism
economic system featuring characteristics of both planned and market economies
Transactional leadership.
political system in which the government owns and operates all factors of production
policies used by a government regarding how it collects and spends revenue
Term 3 of 224
The evaluation of the duties required by a particular job and the skills required to perform it is
referred to as which of the following?
Trade deficit.
Local content laws.
Job analysis.
Authority
,Term 4 of 224
Reporting relationships, within a company, shown on the organization chart as solid lines are
defined as which of the following?
Annual report.
Retained earnings.
Asset allocation.
Chain of command.
Term 5 of 224
Which of the following describes the informal organization?
Sole proprietorships.
Direct observation.
It can reinforce office politics that put the interests of individuals ahead of those of the
firm.
Managers and subordinates.
Term 6 of 224
Which of the following is true about corporate bonds?
Managers and subordinates.
Assets = Liabilities + Owners' Equity.
The bondholder has no claim to ownership of the company and does not receive
dividends.
Refers to both processes and behaviors used by someone to motivate, inspire, and
influence the behavior of others.
,Term 7 of 224
Unemployment
the economic value of all the products that a country exports minus the economic value
of all the products it imports
the level of joblessness among people actively seeking work in an economic system
industry in which one company can most efficiently supply all needed goods or services
graph showing how many units of a product will be supplied (offered for sale) at different
prices
Term 8 of 224
Aggregate Output
the total quantity of goods and services produced by an economic system during a given
period
industry in which one company can most efficiently supply all needed goods or services
statistics that help assess the performance of an economy
the total quantity and quality of goods and services people can purchase with the
currency used in their economic system
Term 9 of 224
Which of the following is a statement of how organizations will achieve their purposes in the
environments in which they conduct their business?
Mission statement
Human resource management.
Conceptual skills.
Discount
, Term 10 of 224
Which of the following represents most businesses in the United States?
Distribution channel.
Intensive distribution.
Social Responsibility
Sole proprietorships.
Term 11 of 224
Feelings of fairness as compared to other people is explained in which of the following?
Equity theory.
Annual report.
Physiological
Stockholders.
Term 12 of 224
The process of creating, communicating, and delivering value to customers, and for marketing
customer relationships in ways that benefit the organization and its stakeholders, is called
which of the following?
Leading.
Marketing.
Depreciation
Positioning.
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