the difference between a business' revenues and its expenses is known as its: correct answers profits
information systems, electronics, and telecommunications would be regarded as part of the ______________ environment. correct answers technological
The factor of production that includes the ...
BUS100 Final Exam || All Correct.
the difference between a business' revenues and its expenses is known as its: correct answers profits
information systems, electronics, and telecommunications would be regarded as part of the ______________ environment. correct answers technological
The factor of production that includes the physical and intellectual contributions people make while engaged in economic production is known as: correct answers labor
The economic system in which the government owns and operates all factors of production and makes all business decisions is known as: correct answers communism
the market (or equilibrium price) is the price at which: correct answers the quantity of goods demanded and quantity supplied are equal
what is considered "ethical" behavior and "unethical" behavior is: correct answers based on both individual beliefs and social concepts
the ethical norm of _________ examines whether an act optimizes the benefits to those who are affected by it. correct answers utility
a majority of small businesses are involved in which industry? correct answers services
which of the following would likely NOT be a characteristic of a successful entrepreneur? correct answers risk aversion
who are the owners of a corporation? correct answers stockholders
products produced in the United States and then shipped for sale to other countries are referred to
as: correct answers exports
which of the following BEST describes a negative balance of trade? correct answers the value of a country's imports exceeds the value of its exports
which form international expansion involves the development of a mutually beneficial partnership with a company in a foreign country? correct answers strategic alliance
which of the following are the four basic functions of management? correct answers planning, organizing, leading, and controllling
Top managers in an organization would likely be involved in which of the following functions? correct answers establishment of general policies and formulation of strategies which management skill would enable a manager to effectively identify a problem or opportunity, evaluate alternative courses of action, and select the most appropriate one? correct answers decision-making skills
contingency plans accomplish which of the following? correct answers identify an organizations strategies for responding to change
which form of departmentalization divides organizations according to the areas of the country? correct answers geographic
which of the following managers would likely have staff authority rather than line authority? correct answers human resource manager
the informal communication network within an organization is known as: correct answers the grapevine
which of the following materials management functions is responsible for receiving, storing, handling, and counting raw materials, partly finished goods, and finished goods? correct answers
inventory control
the flow of information, materials, and services that starts with raw material suppliers and continues adding value until the product reaches the end customer is known as: correct answers the supply chain
according to maslows hierarchy of human needs, an individual who seeks friendship, interaction with other people, and affection is looking to fulfill ___________ needs. correct answers social
which approach to leadership attempted to identify distinctive characteristics of an individual that accounted for his/her effectiveness as a leader? correct answers trait approach
which theory of leadership suggests that subordinates are members of an "in-group" or an "out-
group" and the leaders behavior toward them varies depending on which group to which they belong? correct answers leader-member exchange (LMX) model
holding yourself to the highest standard of principled behavior, having respect for the rights and dignity of others within the organization, and expecting others to behave similarly are hallmarks of ___________ leadership. correct answers ethical
what is the first step in developing a training plan? correct answers Determining what training needs exist
during a labor action against a retail store, workers march at the entrance to the employers facility with signs explaining their reasons for striking. this is an example of: correct answers picketing
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