QUESTION Hometown Waterworks is a company that provides water to consumers and serves as a water distribution monopoly. Why is the company permitted to operate as a monopoly? a. Hometown Waterworks pays taxes annually. b. Hometown Waterworks campaigns to promote water conservation in the surrounding areas. c. Hometown Waterworks has complete control over the water […]
QUESTION Which is NOT an advantage of a sole proprietorship? a. They are easy to start. b. The owner has complete control. c. Special tax forms aren’t required. d. It is relatively easy to raise money for expansion. ANSWER d
QUESTION Which of the following is NOT true about line positions? A) They contribute directly to revenue. B) They often pay higher salaries than staff positions do. C) They are most often filled by young people. D) They present more opportunity for advancement than staff positions do. ANSWER C
QUESTION ________ feedback is best. a. Immediate b. Next-day c. Delayed d. No ANSWER a
QUESTION What term describes the level of competition in which businesses compete against each other to sell similar products at prices usually higher than the lowest possible price? a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER b
QUESTION An organization’s culture consists of all of the following EXCEPT A) attitudes. B) values. C) challenges. D) norms. ANSWER C
QUESTION If you are a performer, but you try communicating by being businesslike, task focused, and to the point, you are flexing toward a _______. a. people-pleaser b. detailer c. storyteller d. director ANSWER d
QUESTION If you are kind-hearted and sensitive and like working with others, you are probably a ________. a. people-pleaser b. director c. performer d. detailer ANSWER a
QUESTION Once a company comes up with a few ideas for new products, the company uses _________________ to see which idea people like most. This helps the company determine which products are most likely to sell. Fill in the blank(s) with correct word ANSWER concept testing
QUESTION Which is NOT a defensible reason for a monopoly? a. government ruling b. marginal revenue c. economies of scale d. ownership of a resource ANSWER b
