QUESTION Products that relate to one another or help complete each other are called ________. a. complimentary goods b. substitute goods c. surplus goods d. scare goods ANSWER a
Date: September 3rd, 2020
QUESTION Which of the following is NOT a purpose of an organization chart? A) Describe different types of work or tasks and identify who is in charge of them. B) Show where unionized employees work and where nonunionized employees work. C) Indicate divisions or departments within the organization. D) Illustrate the relationships between individuals and […]
Date: September 3rd, 2020
QUESTION Which statement is FALSE? To improve their chances of success, entrepreneurs should ________. a. make sure their talents exceed any risks they may encounter b. take the time to weigh all the possible risks they may encounter c. take calculated risks and proceed only when they have a reasonable chance of success d. take […]
Date: September 3rd, 2020
QUESTION Which is true of demand? a. The quantity demanded decreases as the price increases. b. The quantity demanded decreases as the price decreases. c. The quantity demanded increases as the price of substitute goods decreases. d. The quantity demanded remains the same as price decreases. ANSWER a
Date: September 3rd, 2020
QUESTION Define an IPO. What will be an ideal response? ANSWER IPO stands for initial public offering. An IPO occurs when a company first makes stock available to the public. The company receives money from the stock purchases, and buyers receive part ownership of the company.
Date: September 3rd, 2020
QUESTION Entrepreneurs share some similar characteristics, among which are ________. a. reserve and optimism b. optimism and integrity c. integrity and pessimism d. risk avoidance and pessimism ANSWER b
Date: September 3rd, 2020
QUESTION Describe two methods for using accounts receivable to generate short-term funding. What will be an ideal response? ANSWER Pledging involves using accounts receivable as collateral for a bank loan. Factoring is the sale of accounts receivable to a third party at a discounted rate. These types of financing free up money that is […]
Date: September 3rd, 2020
QUESTION In a free market, if a product is offered, and buyers want it, the increasing demand for the product will ________. a. drive the price down because many of them sell b. drive the price up because the producer has a limited supply c. drive the supply and price down d. drive the demand […]
Date: September 3rd, 2020
QUESTION Integrity is about ________. a. being inconsistent b. recognizing that there is no connection between words and actions c. fearing to stay true to yourself d. speaking truthfully ANSWER d
Date: September 3rd, 2020
QUESTION Which of these will NOT shift the demand curve? a. changes in customer preference b. increases in the number of potential buyers c. the prices of substitute products d. changes in production costs ANSWER d
Date: September 3rd, 2020
