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Business Management Exam 1

Quiz by 7-12 Sped

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49 questions
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  • Q1
    The job of choosing to decide whether to buy or start a business is made easier if you consider your personal ________________ and __________________.
    values, goals
    goods, services
    strengths, weaknesses
    30s
  • Q2
    Which of the following is an example of how jobs were in the 1960s?
    all of these are correct
    job security was high
    no competition from japan or europe
    30s
  • Q3
    An __________ is a new business undertaking that involves risk.
    venture
    equity
    trade-barrier
    30s
  • Q4
    Which country has been called a "closed" society for marketers?
    china
    south korea
    japan
    30s
  • Q5
    Economics is the study of how people choose to allocate scarce resources to fulfill their __________________ wants.
    unlimited
    guaranteed
    desirable
    30s
  • Q6
    According to the American City Business Journals, small businesses that use the Internet have grown ______ percent faster than those who do not.
    50%
    32%
    46%
    30s
  • Q7
    Which of the following is not an example of the five key components of the Entrepreneurial Start-Up Process?
    the entrepreneur
    the opportunity
    the development cycle
    30s
  • Q8
    A __________ is a restriction on goods entering or leaving a country.
    tariff
    venture
    trade barrier
    30s
  • Q9
    A(n) _____________ is a business that conducts business by means of the Internet.
    none of these are correct
    online business
    equity business
    30s
  • Q10
    A(n) ___________ is an individual who undertakes the creation, organization, and ownership of a business.
    entrepreneur
    venture
    all are correct
    30s
  • Q11
    Scarcity occurs when ________________ exceeds ______________.
    goods, services
    supply, demand
    demand, supply
    30s
  • Q12
    Of the Ten Essential Entrepreneurial Skills, which skills shows an entrepreneurs ability to adapt to an ever-changing environment?
    adaptability skills
    teamwork skills
    communication skills
    30s
  • Q13
    Which culture tends to be more masculine in nature and have only recently begun to encourage entrepreneurship?
    Latin American
    none of these are correct
    European
    30s
  • Q14
    ____________ is the amount of money a person puts into his or her business as capital.
    debt
    human capital
    investment
    30s
  • Q15
    What is the primary incentive of the Free Enterprise System?
    being the boss
    receiving profit
    all of these are correct
    30s

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