Principles Of Business: Marketing, And Finance Quiz- II
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- 1.A need is something that is required to live.
- A.
True
- B.
False
- 2.Which economic factor is not directly influence by marketing?
- A.
Consumer Spending
- B.
Production
- C.
Income
- 3.Labor includes the ground itself, as well as natural resources, such as water and minerals, used in production.
- A.
True
- B.
False
- 4.What are the factors of production?
- A.
Labor
- B.
Human Capital
- C.
All of the above
- 5.Place Utiltiy occurs when the actual form of the product attracts consumers.
- A.
True
- B.
False
- 6.Possession Utility means providing different ways for consumers to own a product.
- A.
True
- B.
False
- 7.Business cycles describe periods of prosperity, recession and recovery in the economy.
- A.
True
- B.
False
- 8.Resource Availability is not
- A.
When resources are readily available, their prices decrease.
- B.
When resources are not increase prices.
- C.
When resources are scarce, their prices increase.
- 9.Contribuing to society
- A.
Economic is considered to be a social science.
- B.
Businesses are expected to be good citizens, pay taxes and contribute to causes that are importane to the community.
- C.
Inflation referes to a continued rise in the price of products.
- 10.Exporting is produced in this country an sold abroad.
- A.
True
- B.
False
- 11.Define Business
- A.
An organization that uses labor, capital, land, and entrepreneurship to produce goods and services at a profit.
- B.
Theory E
- C.
Theory Z
- 12.Define Prosperity
- A.
A time of higher incomes, increased production and lower unemployment.
- B.
Occurs when employment and business opportunities begin to increase again and consumers start spending more money.
- C.
When business make the most money in sales of products with the lowest expenses possible.
- 13.Which is not included in the economic conditions
- A.
Inflation
- B.
Income
- C.
Recession
- 14.Making a Profit is to
- A.
Maximize Profits
- B.
Including Globalization
- C.
Risk
- 15.Law of Demand is the amount of a product demanded relates inversely to the price: the lower the price, the more demanded.
- A.
True
- B.
False
- 16.Define Labor
- A.
Human effort or work.
- B.
An individual's knowledge and skills that are necessary to produce goods.
- C.
Includes those items necessary to produce goods and services , such as building , machines and tools.
- 17.Define Entrepreneur
- A.
Includes the grounds itself, as well as a natural resources, such as water and minerals, used in production.
- B.
Someone who organizes the start-up and takes the risks necessary to get a business started.
- C.
Involves making products available where consumers want them.
- 18.Diversity is the composition of the workforce in changng and will continue to affect U.S. Businesses.
- A.
True
- B.
False
- 19.As you develop a career direction and plan to enter the job market, understanding economic conditions can help you make decisions.
- A.
True
- B.
False
- 20.Age, race, and gender is ignored when considering diversity.
- A.
True
- B.
False
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