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First Year Business Exam (Past Quizzes) well answered to pass
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First Year Business Exam (Past Quizzes) well answered to pass
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First Year Business Exam (Past Quizzes)What are characteristics of a business? - correct answer ✔✔Organizes to make a profit, provides goods
to consumers, provides services to consumers
Capitalism and socialism are examples of _____, the way a society allocates and distributes its products -
correct answer ✔✔economic systems
The companies that provide utilities, like gas and electricity, are considered what type of monopoly? -
correct answer ✔✔natural monopoly
Select the three responses below that are the economic goals shared by all the world's economies -
correct answer ✔✔Price Stability, Growth, High Employment
One way to predict if the economy is on track to expand soon is _____. - correct answer
✔✔unemployment claims decrease
Which of these are characteristics of full employment? - correct answer ✔✔95% of those seeking work
are employed, Every person who wants to work has a job
The United States has a __________. - correct answer ✔✔Mixed Market economy
What are part of the three sets of questions that economists seek to answer? - correct answer ✔✔Who
should receive the goods and services produced? What goods and services need to be produced to meet
consumer needs?
In the fictional country of Unozarica, all the airlines, buses and trains are owned by businesses not the
government, but the government has oversight on them, especially for safety reasons. No one is
guaranteed a job, but citizens are guaranteed income in their old age. This is an example of _____. -
correct answer ✔✔A mixed market economy
, Two examples of external forces that influence business activities are __________ and __________. -
correct answer ✔✔public pressure to act as good corporate citizens, public health issues caused by the
coronavirus
Businesses believe that team-based organizations are more productive and help to
___________________. - correct answer ✔✔improve overall performance
An example of a cross-functional team was __________________. - correct answer ✔✔Motorola RAZR
What is the best definition of groupthink? - correct answer ✔✔Members conform to the thoughts of the
group when making decisions in order to get along
Why are team-based activities required by instructors? - correct answer ✔✔To prepare students for
working with others in the business world.
The key to a team's success is a mix of which three of these skills? - correct answer ✔✔Decision-Making
Skills, Technical Skills, Interpersonal Skills
Why did designer Chris Arnholt create a mock-up of his design using models sculpted out of cornstarch? -
correct answer ✔✔To allow all members of his team, as well as key individuals in other areas of the
organization, to understand the product.
In an organizational setting, communication has a distinct workflow. If you are communicating with a
coworker and showing him a memo, that is spiral communication. - correct answer ✔✔False
Which of these are great tips on writing effective memos? - correct answer ✔✔Use short headings and
organize thoughts, Format with headings of "To," "From," "Date," and "Re."
What are best practices for creating a PowerPoint slide presentation? - correct answer ✔✔Keep slides
clean by using key words and phrases, use at least an eighteen-point font, Incorporate graphs rather
than words when possible
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