Have an account?
Skip to Content
Build your own quiz
20 questions
Show Answers
See Preview
- 1. Multiple ChoiceAn important purpose of management is to ___________________ the business.design advertising forachieve the objectives ofchallenge the employeesminimise expenditure
- 2. Multiple ChoiceWhich is an element of the planning function of management?Training employeesSetting goalsforecastingBudgeting
- 3. Multiple ChoiceWhat is a trend that affects the growth of entrepreneurial ventures?A higher demand for more convenience productsThe reduced need for health care and related servicesThe shift to an agricultural-based societyavailability of poor quality products
- 4. Multiple ChoiceWhich of the following is most likely to have a negative effect on domestic small-business growth:Slow inflationInvoluntary tax reductionsRestrictive loan policiesclosure of state government enterprises
- 5. Multiple ChoiceWhat is a disadvantage of entrepreneurship?Lower taxesPersonal satisfactionUncertain incomeFewer resources
- 6. Multiple ChoiceIdentifying new product opportunities usually requires a person to bedecisiveemotionalawareindifferent
- 7. Multiple ChoiceWhich is the first step of effective managerial planning?Evaluate the quality of various processesUse a systematic approach to establish objectivesliasing with the executiveset out the goals for the business
- 8. Multiple ChoiceAs a new business owner, Thomas is willing to work long hours, watch his spending, and sacrifice his social life to focus on building his clientele. What entrepreneurial trait is Thomas exhibiting?HumilityObjectivityDeterminationPassion
- 9. Multiple ChoiceThe top level in the management pyramid is the ____ level.ExecutiveMiddle ManagementSupervisorNone of the above
- 10. Multiple ChoiceEven when times are tough for Caitlin's business venture, she tends to remain positive—she looks at the glass as half full rather than half empty. What characteristic of entrepreneurship is Caitlin exhibiting?OrganizationOptimismDeterminationPassion
- 11. Multiple ChoiceThe function of management that includes setting a five-year plan for a company.PlanningOrganizingImplementingControlling
- 12. Multiple ChoiceA middle manager is ordering more equipment and hiring new staff to accommodate a new production line for faster output of the company's product. Which function of management is represented?PlanningOrganizingImplementingControlling
- 13. Multiple ChoiceThe lowest level of management on the management pyramid is the ____ level.ExecutiveMiddle ManagementSupervisorNone of the above
- 14. Multiple ChoiceThe function of management that involves reviewing production numbers to see if production goals were met for the last week or month.PlanningOrganizingImplementingControlling
- 15. Multiple ChoiceA middle manager spends the majority of time on this function of management.PlanningOrganizingImplementingControlling
- 16. Multiple ChoiceA supervisor spends the majority of time on this function of management.PlanningOrganizingImplementingImplementing & Controlling
- 17. Multiple ChoiceManagement and leadership are really the same thing.TrueFalseI don't careI'm inherently lazy & I don't know
- 18. Multiple Choicebusiness costs, such as rent, that are constant whatever the amount of goods produced.fixed costvariable costtotal costnot a cost
- 19. Multiple ChoiceProduction is defined asthe process of converting inputs such as land, labour and capital into tangible and intangible goods.the process of converting physical goods into outputsthe process of producing inputs given from the factors of production and selling them for a profit as the final resultthe effectiveness of productive effort, especially in industry, as measured in terms of the rate of output per unit of input.
- 20. Multiple ChoiceThe market value of all final products produced in a country during a specific period of time.recessionmonopolygross domestic productprice fixing
- Answer choicesTagsAnswer choicesTags