Business Final Exam Review

Last Updated By tbresett on 12/13/2010
727 people took this quiz
  • Share
http%3A%2F%2Fwww.funnelbrain.com%2Fqc-20806-span-stylefont-size120ptfont-familyquottimes-new-romanquotquotserifquotmso-fareast-font-familyquottimes-new-romanquotcolorblackmso-ansi-languageen-usmso-fareast-languageen-usmso-bidi-languagear-saan-entrepreneur-risks-timeand-money-to-start-and-manage-a-business-span.html

A market consists of potential buyers of a good or service. However, for a market to exist: 

Answer:
a)  the business requires wholesalers and retailers.
b)  one firm must dominate in sales and product development.
c)  people must have unsatisfied wants and needs as well as a willingness and ability to buy.
d)  the product must be laboratory tested and approved by the Food and Drug Administration (FDA).
View as Flashcard Quiz
Related Quiz Content
  • tbresett
    Managers in progressive organizations tend to emphasize teamwork and cooperation rather than discipline and giving orders
    a)True
    b)False
    a)False
  • tbresett
    The four key management functions are planning, organizing, leading, and controlling. 
    a)True
    b)False
    a)False
  • tbresett
    One trend of the "leading" management function is to empower employees, giving them as much freedom as possible to become self-directed and self-motivated. 


    a)True
    b)False
    a)False
  • tbresett
    Planning involves setting the organizational vision, goals and objectives. 
    a)True
    b)False
    a)False
  • tbresett
    The SWOT analysis helps firms identify competitive threats and market opportunities. 
    a)True
    b)False
    a)False
  • tbresett
    A __________ is an overall explanation of why an organization exists and where it is trying to head. 


    a)tactical plan
    b)prime directive
    c)corporate charter
    d)vision
    d)vision
  • tbresett
    __________ planning prepares alternative courses of action that may be used if the primary plans are not achieving objectives. 
    a)strategic
    b)contingency
    c)tactical
    d)alternative
    b)alternative
  • tbresett
    Which of the following is involved in setting work standards and schedules needed to implement the firm's tactical objectives? 
    a)Mission Statement
    b)Tactical planning
    c)operational planning
    d)contingency planning
    c)contingency planning
  • tbresett
    __________ is a problem solving technique that attempts to come up with as many solutions as possible in a short time without censoring the ideas. 


    a)brainstorming
    b)game theory
    c)CAD/CAM
    d)PMI
    a)PMI
  • tbresett
    A bureaucracy empowers employees to quickly respond to customers' wants and desires. 


    a)True
    b)False
    b)False
Discussion Board
Business Final Exam Review
Business Final Exam Review
Quiz Taken:727 people took this quiz
Rate this Quiz
Teams
Quiz does not belong to any team.
Quiz Tags
Tags not available.
Author Information
tbresett
Free Quiz Question From Business Final Exam Review
Question: A market consists of potential buyers of a good or service. However, for a market to exist: 
Answer:
the business requires wholesalers and retailers.
one firm must dominate in sales and product development.
people must have unsatisfied wants and needs as well as a willingness and ability to buy.
the product must be laboratory tested and approved by the Food and Drug Administration (FDA).