Bus 100 Quiz 1
Bus 100 Quiz 1
Page 1
Top of Form
1. In our free-enterprise system, federal and state governments decide what products and services to provide.
True
False
2. Marlini Okamoto, a chef at a major restaurant in San Francisco, wants to start his own restaurant. He surveys the market, finds a suitable location, and calculates how much money he will need to lease the building and purchase the necessary equipment and supplies. Steve visits his banker and requests a loan. The money Steve will receive from the loan and the resources he will purchase with it are known as
capital.
profit.
revenue.
collateral.
stock.
3. ____ resources are the individuals who provide labor for an organization in exchange for wages.
Human
Financial
Information
Major
Material
4. When a firm's expenses are greater than its sales revenue, the firm has a
profit.
loss.
negative cash flow.
recession.
depression.
5. Refer to Satellite Communications. When hiring people, Jonathan thinks it is important to consider
unilateral thicking.
profit
wage increases
health benefits.
cultural diversity.
6. In our free-enterprise system, federal and state governments decide what products and services to provide.
True
False
7. Productivity is the total output per worker per year.
True
False
8. As the founder of an American business firm, Jeff Bezos can, within certain limits, produce and/or sell any product he chooses and sell it at any price it sets
True
False
9. A copyright of a product exists indefinitely.
True
False
10. The equilibrium or market price exists when the supply of a product exceeds the amount that consumers are willing to purchase.
True
False
11. The study of the morality of choices made by people is known as
ethics.
business ethics.
freedom of choice.
moral aptitude.
standard of behavior.
12. Dorothy worked at a meat packing plant during the 1920s. What would she have been most surprised to see happening at the plant?
Employees earning vacation time
Page 1
Top of Form
1. In our free-enterprise system, federal and state governments decide what products and services to provide.
True
False
2. Marlini Okamoto, a chef at a major restaurant in San Francisco, wants to start his own restaurant. He surveys the market, finds a suitable location, and calculates how much money he will need to lease the building and purchase the necessary equipment and supplies. Steve visits his banker and requests a loan. The money Steve will receive from the loan and the resources he will purchase with it are known as
capital.
profit.
revenue.
collateral.
stock.
3. ____ resources are the individuals who provide labor for an organization in exchange for wages.
Human
Financial
Information
Major
Material
4. When a firm's expenses are greater than its sales revenue, the firm has a
profit.
loss.
negative cash flow.
recession.
depression.
5. Refer to Satellite Communications. When hiring people, Jonathan thinks it is important to consider
unilateral thicking.
profit
wage increases
health benefits.
cultural diversity.
6. In our free-enterprise system, federal and state governments decide what products and services to provide.
True
False
7. Productivity is the total output per worker per year.
True
False
8. As the founder of an American business firm, Jeff Bezos can, within certain limits, produce and/or sell any product he chooses and sell it at any price it sets
True
False
9. A copyright of a product exists indefinitely.
True
False
10. The equilibrium or market price exists when the supply of a product exceeds the amount that consumers are willing to purchase.
True
False
11. The study of the morality of choices made by people is known as
ethics.
business ethics.
freedom of choice.
moral aptitude.
standard of behavior.
12. Dorothy worked at a meat packing plant during the 1920s. What would she have been most surprised to see happening at the plant?
Employees earning vacation time