Principles Of Business: Marketing, And Finance Quiz- II

20 Questions | Total Attempts: 540

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Principles Of Business Quizzes & Trivia

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Questions and Answers
  • 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