QUESTION Give an example of a time when you considered opportunity cost in making a decision. What will be an ideal response? ANSWER Student answers will vary. Examples in the text include using tax return money to deposit in a savings account instead of paying down credit card debt, eating a free lunch instead […]
Date: September 3rd, 2020
QUESTION An organization’s division of labor is the A) allocation of workers to roles based on gender, race, and ethnicity. B) physical separation of unionized and non-unionized workers. C) breakdown of different specialized roles that employees take on. D) assignments of job duties based on employees’ pay rates. ANSWER C
Date: September 3rd, 2020
QUESTION Business incubators provide support to entrepreneurial businesses, including shared office spaces and support staff. Indicate whether the statement is true or false ANSWER TRUE
Date: September 3rd, 2020
QUESTION A set of skills that help people better communicate with themselves and the people around them is known as ________ intelligence. a. emotional b. introspection c. vision d. leadership ANSWER a
Date: September 3rd, 2020
QUESTION Explain why two companies would want to join together in a merger or acquisition. What will be an ideal response? ANSWER Mergers and acquisitions help companies diversify and manage risk. A company may join with another company that offers different types of products, does business in new geographic areas, or has a specialized […]
Date: September 3rd, 2020
QUESTION An organization’s structure determines all of the following EXCEPT A) who is responsible for what. B) who is unionized. C) who answers to whom. D) who will manage whom. ANSWER B
Date: September 3rd, 2020
QUESTION In a free market economy, scarce resources are rationed through ________. a. government intervention b. prices c. economics d. societal pressures ANSWER b
Date: September 3rd, 2020
QUESTION Which of the following questions can help you gauge your own emotional intelligence? a. Do you get people excited about anything? b. Do others come to you for advice when they are trying to do something new? c. How often does your honesty cost you something important? d. Do you motivate yourself? ANSWER […]
Date: September 3rd, 2020
QUESTION Partnerships are the most common type of business because most people like to share responsibility and risk. Indicate whether the statement is true or false ANSWER FALSE
Date: September 3rd, 2020
QUESTION Can financial statements be used in SWOT analysis? What will be an ideal response? ANSWER Yes, financial statements can be used in SWOT analysis. Some internal strengths and weaknesses are financial. External opportunities and threats also can change financial results. A company must look at its financial statements as part of its SWOT […]
Date: September 3rd, 2020
