Business Management Exam 1
Quiz by 7-12 Sped
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49 questions
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- Q1The job of choosing to decide whether to buy or start a business is made easier if you consider your personal ________________ and __________________.values, goalsgoods, servicesstrengths, weaknesses30s
- Q2Which of the following is an example of how jobs were in the 1960s?all of these are correctjob security was highno competition from japan or europe30s
- Q3An __________ is a new business undertaking that involves risk.ventureequitytrade-barrier30s
- Q4Which country has been called a "closed" society for marketers?chinasouth koreajapan30s
- Q5Economics is the study of how people choose to allocate scarce resources to fulfill their __________________ wants.unlimitedguaranteeddesirable30s
- Q6According 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
- Q7Which of the following is not an example of the five key components of the Entrepreneurial Start-Up Process?the entrepreneurthe opportunitythe development cycle30s
- Q8A __________ is a restriction on goods entering or leaving a country.tariffventuretrade barrier30s
- Q9A(n) _____________ is a business that conducts business by means of the Internet.none of these are correctonline businessequity business30s
- Q10A(n) ___________ is an individual who undertakes the creation, organization, and ownership of a business.entrepreneurventureall are correct30s
- Q11Scarcity occurs when ________________ exceeds ______________.goods, servicessupply, demanddemand, supply30s
- Q12Of the Ten Essential Entrepreneurial Skills, which skills shows an entrepreneurs ability to adapt to an ever-changing environment?adaptability skillsteamwork skillscommunication skills30s
- Q13Which culture tends to be more masculine in nature and have only recently begun to encourage entrepreneurship?Latin Americannone of these are correctEuropean30s
- Q14____________ is the amount of money a person puts into his or her business as capital.debthuman capitalinvestment30s
- Q15What is the primary incentive of the Free Enterprise System?being the bossreceiving profitall of these are correct30s