Busn115 week 2 quiz 2017 QuestionQuestion 1(TCO 1) A(n) _____ is a framework of how a business intends to generate revenue.business modelstrategic management toolprofitability analysiscompetitive advantageentrepreneurialmindsetQuestion 2(TCO 1) Which of the following statements is true regarding business mindset?It involves seeing the business from the outside in.It is incompatible with corporate responsibility.It involves appreciating the challenges a company faces in satisfying customer needs.It involves acknowledging that businesses always benefit society.It involves ignoring one's customer experiences.Question 3(TCO 1) _____ audit the financial reports of public companies as required by law.Internal accountantsExternal auditorsCredit managersManagement accountantsForensic accountantsQuestion 4(TCO 1) When the number of competitors in a market is quite small, a situation known as _____ is created.monopolymonopsonyoligopolymonopolistic competitionpure competitionQuestion 5(TCO 1) _____ unemployment

Busn115 week 2 quiz 2017

QuestionQuestion 1(TCO 1) A(n) _____ is a framework of how a business intends to generate revenue.business modelstrategic management toolprofitability analysiscompetitive advantageentrepreneurialmindsetQuestion 2(TCO 1) Which of the following statements is true regarding business mindset?It involves seeing the business from the outside in.It is incompatible with corporate responsibility.It involves appreciating the challenges a company faces in satisfying customer needs.It involves acknowledging that businesses always benefit society.It involves ignoring one's customer experiences.Question 3(TCO 1) _____ audit the financial reports of public companies as required by law.Internal accountantsExternal auditorsCredit managersManagement accountantsForensic accountantsQuestion 4(TCO 1) When the number of competitors in a market is quite small, a situation known as _____ is created.monopolymonopsonyoligopolymonopolistic competitionpure competitionQuestion 5(TCO 1) _____ unemployment is the natural movement of workers into and out of jobs, such as when a person quits one job without first lining up a new job.StructuralIntrinsicFrictionalCyclicalSeasonalQuestion 6(TCO 1) ________ taxes, levied on the earnings of individuals and businesses, are the government's largest single source of revenue.IncomePropertySalesExcisePayrollQuestion 7(TCO 1) _____ is the process of influencing and motivating people to work willingly and effectively toward common goals.OrganizingLeadingPlanningDirectingControllingQuestion 8(TCO 1) The overall plan might be supported at the next level down by such plans as a research and development plan, a manufacturing plan, and a marketing plan. Such functional plans are called _____ plans.appraisalstrategiccontingencytacticalcorporateQuestion 9(TCO 1) _____ leaders act as advisors and supporters and generally let subordinates chart and adjust their own course toward meeting agreed-upon goals and objectives.ParticipativeConsultativeAutocraticTransactionalLaissez-faireQuestion 10(TCO 2) An embargo is a _____.quantity restriction on the import of particular goods or servicessurcharge imposed on the import of certain productssubsidy offered to products exported from a countrycomplete ban on the import or export of certain productsform of financial assistance extended to domestic producersQuestion 11(TCO 2) The North American Free Trade Agreement (NAFTA) was formed by the United States, Canada, and _____.Costa RicaJamaicaCubaMexicoHondurasQuestion 12(TCO 2) _____ refers to buying goods or services from a supplier in another country.FranchisingImportingLicensingPartneringIntermediatingQuestion 13(TCO 2) Th

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