Quiz: Introduction To Business 101 Part #5

30 Questions | By Snohomishfbla | Updated: Mar 21, 2022 | Attempts: 223

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Introduction To Business Quizzes & Trivia

Questions and Answers

1.

The ____ is a name given to a product or service to distinguish it from other similar and competitive items.
- A.
  
  Logo
- B.
  
  Patent
- C.
  
  Logo
- D.
  
  Copyright
2.

Comparison shoppers do not usually evaluate:
- A.
  
  Services
- B.
  
  Price
- C.
  
  Quality
- D.
  
  Edorsements by celebrities
3.

When an item is not received or returned and the item is billed to the customer's credit card, the customer has __ to dispute it.
- A.
  
  60 days
- B.
  
  90 days
- C.
  
  120 days
- D.
  
  30 days
4.

The warranty imposed by law and understood to apply even though it has not been stated is the:
- A.
  
  Implied warranty
- B.
  
  Statutory warranty
- C.
  
  Express warranty
- D.
  
  Guaranteed warranty
5.

What happens each time a person makes a car payment?
- A.
  
  The net income increases
- B.
  
  The net worth is increased
- C.
  
  The liabilities decrease
- D.
  
  The disposable income increases
6.

_____ represent an example of a variable expense.
- A.
  
  Groceries
- B.
  
  Mortgages payments
- C.
  
  Rent payments
- D.
  
  Insurance premiums
7.

The ____ is a type of money order typically issued by travel agencies, supermarkets, pharmacies, and convenience stores.
- A.
  
  Cashier's check
- B.
  
  Express money order
- C.
  
  Postal money order
- D.
  
  Bank money order
8.

When a company has a code of ethics:
- A.
  
  It should stress forbidden actions rather than acceptable behavior
- B.
  
  Employees will always know how to behave under different circumstances
- C.
  
  Employees are frequently unaware of rules for using the computer at work
- D.
  
  It will more easily be able to identify proper employee behavior
9.

Police and fire protection are usually provided by ___ in the United States.
- A.
  
  Federal government
- B.
  
  State government
- C.
  
  Corporations
- D.
  
  Local government
10.

_____ is not a utility company.
- A.
  
  The gas company
- B.
  
  A gas station
- C.
  
  A telephone company
- D.
  
  The electric company
11.

Which one of the following represents a strategy of how the U.S. government gets involved in business activities?
- A.
  
  It tells businesses what they should produce and what they can charge their customers
- B.
  
  It owns the most factors of prodcution
- C.
  
  It tells people what jobs they will pursue
- D.
  
  It attempts to prevent unfair business practices
12.

An important first step in the career planning process is:
- A.
  
  Personal assessment
- B.
  
  Employment market analysis
- C.
  
  Career development
- D.
  
  Application process
13.

What is the recommended length of a résumé?
- A.
  
  One to two pages
- B.
  
  The length necessary to include all pertinent information
- C.
  
  Three pages
- D.
  
  No more than one page
14.

A mentor is a(n):
- A.
  
  Peer working in the same industry
- B.
  
  Supervisor
- C.
  
  Experienced worker in an individual's field of interest
- D.
  
  Top executive in the company
15.

What is the type of insurance that protects a car owner against financial loss resulting from a wreck or rollover called?
- A.
  
  Collision coverage
- B.
  
  Uninsured motorist coverage
- C.
  
  Liability coverage
- D.
  
  Deductible coverage
16.

Bodily injury liability auto insurance does not cover:
- A.
  
  Pedestrians
- B.
  
  The policyholder
- C.
  
  Passengers riding with the policyholder
- D.
  
  People in the other cars
17.

_____ is not a type of permanent life insurance:
- A.
  
  Whole life insurance
- B.
  
  Universal life insurance
- C.
  
  Variable life insurance
- D.
  
  Term life insurance
18.

______ is a type of health insurance that provides protection against the high costs of serious illnesses or injuries.
- A.
  
  Major medical insurance
- B.
  
  Hospital insurance
- C.
  
  Regular medical insurance
- D.
  
  Surgical insurance
19.

What does property tax revenue not pay?
- A.
  
  Community parks
- B.
  
  Police protection
- C.
  
  Schools
- D.
  
  Medicare and Medicaid
20.

Government in the market economy is not concerned with:
- A.
  
  Providing services for members of society
- B.
  
  Regulating utilities and promoting competition
- C.
  
  Providing information to businesses
- D.
  
  Taking over private industries
21.

The government of a particular country owns and controls all economic resources and decides how those resources will be used. This is an example of a:
- A.
  
  Market economy
- B.
  
  Traditional economy
- C.
  
  Laissez-faire economy
- D.
  
  Command economy
22.

Which one of the following is not one of the major principles of the U.S. economic system?
- A.
  
  Profit
- B.
  
  Freedom of choice
- C.
  
  Private property
- D.
  
  Tradition
23.

_______ is not an ethical violation by employees.
- A.
  
  Overtime
- B.
  
  Wasted time at work
- C.
  
  Employee theft
- D.
  
  Using the workplace computer for personal e-mail
24.

The ______ is someone hired to solve specific problems.
- A.
  
  Evaluator
- B.
  
  Supervisor
- C.
  
  Trouble-shooter
- D.
  
  Whistle blower
25.

What is the Egoism principle?
- A.
  
  Involves personal action for the good of the team
- B.
  
  Involves action that serves the person's long-term interests
- C.
  
  Trades individual well-being for team well-being
- D.
  
  Considers the feelings of others