BUS final – Flashcards

Which of the following is the determining factor of a country's economic system?

Which of the following best defines the term "economic system"?

The main purpose of business is to provide ____________________.

In which of the following ways does a service provider differ from a goods producer?

Which of the following refers to the total quantity and quality of goods and services that can be purchased with the currency used in a country's economic system?

Each of the following is an element of private enterprise, EXCEPT which one?

Which of the following defines the U.S. economic system?

If the Gross Domestic Product (GDP) in the United States increases, which of the following will probably result?

Which of the following best describes an entrepreneur?

Which of the following is a factor of production?

Profits are an indicator of which of the following?

Which of the following economic systems has the greatest government control?

Each of the following is a benefit of business, EXCEPT which one?

Decisions about what to buy and what to sell in the United States are determined primarily by which of the following?

If a business wants to maintain growth in a maturing industry, which of the following should be considered?

If the cost of materials increases, which of the following should the business consider as a result?

f a company believes the business sector is saturated with competitors, which of the following should it consider?

As gasoline prices increase, which of the following will happen

Which of the following does a global marketplace present?

Which of the following should be the first step in assessing ethical behavior in a certain situation?

Jordan is a recent college graduate with a degree in computer programming. He has just begun his first full-time job and is excited to apply the skills that he worked so hard to acquire. Though he excelled as a student, Jordan is anxious about how successful he will be as an employee. When an opportunity unexpectedly presents itself to take credit for a brilliant software program that someone else wrote, Jordan does not resist and claims the program as his own. Which of the following statements must be true about Jordan's decision?

What must every corporation do in maintaining and reporting its financial status?

Why has climate change become a major issue for both business and government?

What is the term for an employee who detects and tries to put an end to a company's unethical, illegal, and/or socially irresponsible actions by publicizing them?

Which statement about codes of ethics is FALSE?

The Omega Group's mission statement conveys a primary commitment to compassionately improving the lives of elderly citizens. What is LEAST likely to be true of the company's ethical code?

Which of the following occurs when someone uses confidential information to gain from the purchase or sale of stocks?

What is the term for an activity that may benefit the individual to the detriment of his or her employer?

Carla's Collegiate Exchange, a popular bookseller among university students, has just drafted its mission statement. the company seeks to sell books on a sliding scale based on a student's available income. What does this MOST likely reveal about the company's ethical code?

A husband and wife have just opened a gymnastics center, with the hope of training future Olympians. They desire to run their center in a socially responsible way. Which of the following should they certainly avoid?

Which of the following is NOT an element of green marketing?

What term refers to the way in which a business tries to balance its commitments to group and individuals in its social environment?

What are beliefs about what is right and wrong or good and bad called?

What is a social audit?

Which of the following has NOT been identifies as a basic consumer right?

What is the term given to the groups, individuals, and organizations that are directly affected by the practices of an organization?

What is likely the single MOST effective step that a company can take to set ethical standards?

Which of the following would NOT be included among the primary agents of interest with regard to a company's ethical behavior?

What act was passed in 2002 as a response to a number of highly publicized accounting scandals?

What is the major drawback of accepting venture capital?

What type of company has stock that is widely held and available for sale to the general public?

What are specific locations of Ramada, McDonald's, and Subway examples of?

Which of the following helps entrepreneurs gain skills that are essential for running a business?

Today, what percent of all businesses in the United States are registered as sole proprietors?

What is the name of the document in which an entrepreneur summarizes his or her business strategy for a proposed new venture?

What type of business has two or more owners who share in the operation of the firm and are financially responsible for its debts?

An entrepreneur, Christina Rossini, is planning to open a small chain of 4 to 6 pizza stores under the brand name "Redenda Pizza." The name comes from combining the first names of the entrepreneur's grandparents. Christina wants to have a competitive advantage by offering innovative and distinct specialty pizzas and by offering the freshest ingredients. However, she is concerned that without proper planning, her venture will not be successful. which of the following questions would be LEAST relevant to determining whether Christina has located a good opportunity in starting Redenda Pizza?

Why are lenders most willing to loan to corporations?

Approximately what percent of all U.S. businesses employ 20 or fewer people?

What is the main reason why women start new businesses?

An entrepreneur, Christina Rossini, is planning to open a small chain of 4 to 6 pizza stores under the brand name "Redenda Pizza." The name comes from combining the first names of the entrepreneur's grandparents. Christina wants to have a competitive advantage by offering innovative and distinct specialty pizzas and by offering the freshest ingredients. However, she is concerned that without proper planning, her venture will not be successful. what would strengthen the case that Christina has a good opportunity in opening a new pizza restaurant?

According to SBA estimates, what percent of all new businesses can expect to survive for at least four years?

Which of the following is a partner who actively manages a firm and has unlimited liability for its debts?

Entrepreneurs often have more than one goal for starting a business and becoming self-employed. Which of the following reasons is the LEAST common goal of entrepreneurs?

Which of the following is the MOST significant recent trend in small-business start-ups?

What is the MOST effective way for an entrepreneur to become a competent manager?

The U.S. Department of Commerce considers a business "small" if it has fewer than how many employees?

Which of the following factors MOST contributes to small business failure?

Which of the following occurs when two firms combine to create a new company?