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Business Management Final Exam Review

Quiz by NeKeisha King Price

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53 questions
Show answers
  • Q1
    What are the different classifications of businesses?
    Nonprofit organization, Cooperative, Franchise
    Public corporation, Joint venture, Cooperative
    Sole proprietorship, Partnership, Corporation
    Government agency, Limited liability company, Entrepreneurship
    30s
  • Q2
    What is the primary function of marketing in a business?
    To develop and manufacture products
    To promote and sell products or services
    To manage finances and accounting
    To provide customer service and support
    30s
  • Q3
    What is the purpose of a business plan?
    To hire and train employees
    To outline the goals and strategies of a business
    To calculate financial projections
    To secure bank loans and funding
    30s
  • Q4
    What is the difference between goods and services in the context of businesses?
    Goods are products manufactured locally, while services are products imported from other countries
    Goods are tangible products, while services are intangible offerings
    Goods are intangible offerings, while services are tangible products
    Goods are products sold to businesses, while services are products sold to consumers
    30s
  • Q5
    What is the purpose of a business license?
    To legally operate a business in a specific location
    To advertise and market a business
    To secure financial investments
    To hire and manage employees
    30s
  • Q6
    What is the concept of supply and demand in economics?
    The quantity of products a business can produce
    The total number of products available in the market
    The relationship between the availability of a product and the desire or demand for that product
    The price and cost associated with a product
    30s
  • Q7
    What is the purpose of a business mission statement?
    To communicate the purpose and goals of a business
    To develop marketing strategies
    To manage daily operations
    To establish pricing for products
    30s
  • Q8
    What is the concept of entrepreneurship in business?
    The strategy of diversifying a company's product line
    The process of starting and managing a new business venture
    The act of merging two or more existing businesses
    The practice of outsourcing business operations
    30s
  • Q9
    What is the concept of market segmentation in marketing?
    The practice of distributing products through multiple channels
    The act of setting prices for products in different markets
    The process of dividing a broad target market into smaller, more defined segments based on similar characteristics
    The strategy of expanding into new geographic regions
    30s
  • Q10
    What is an important consideration when selecting a menu for a food truck business?
    Exotic and complex dishes
    Large portion sizes
    Expensive and rare ingredients
    Portability and ease of preparation
    30s
  • Q11
    Which of the following is a potential complication of starting a food truck business?
    Lack of customers
    Strict health regulations
    Limited parking options
    High start-up costs
    30s
  • Q12
    What is one of the main challenges of running a food truck business?
    Finding a suitable location
    Limited kitchen space
    High start-up costs
    Managing food inventory
    30s
  • Q13
    What is the purpose of a business card?
    To apply for a passport
    To make payments for business transactions
    To provide contact information and promote networking
    To serve as a form of identification
    30s
  • Q14
    What is an example of good behavior when using technology in the classroom?
    Using devices for personal entertainment
    Disturbing others with device sounds
    Sharing inappropriate content
    Using devices for educational purposes only
    30s
  • Q15
    What is an example of good behavior during group projects?
    Taking credit for others' work
    Being argumentative or bossy
    Not participating or contributing
    Contributing ideas and actively participating
    30s

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