MGT 101 CH 1-5 EXAM 1 QUESTIONS WITH VERIFIED
ACCURATE ANSWERS
____ is the primary goal of business.
A. charity
B. profit
C. bureaucracy
D. quality
E. strategy - Answers -B. profit
All the groups that have an interest in an organization's success and outcomes are
known as the organization's ____.
A. agencies
B. stakeholders
C. owners
D. investors
E. shareholders - Answers -B. stakeholders
Advertising, personal selling, coupons, and sweepstakes are forms of the _____ aspect
of marketing activities.
A. finance
B. promotion
C. production
D. fund raising
E. social responsibility - Answers -B. promotion
_____ refers to all activities concerned with obtaining and managing money and using it
effectively.
A. public relations
B. marketing
C. production
D. advertising
E. finance - Answers -E. finance
____ relates to the number of goods and services that consumers are willing to buy at
different prices at a specific time
A. demand
B. supply
C. elasticity
D. balance of payments
E. deficit - Answers -A. demand
, Economic expansion occurs when:
A. fewer goods and services are produced than consumer demand
B. an economy is growing and people are spending more money
C. a nation's standard of living drops dramatically
D. employment levels decline over time
E. prices begin to rise and incomes begin to fall - Answers -B. an economy is growing
and people are spending more money
Which of the following is an example of an intangible product?
A. a movie dvd
B. a sandwich
C. a sports care
D. a music concert
E. jewelry - Answers -D. a music concert
____ is the study of how resources are distributed for the production of goods and
services within a social system.
A. public relations
B. sociology
C. demographics
D. psychographics
E. economics - Answers -E. economics
A firm's ____ resources are also known as labor.
A. economic
B. human
C. intangible
D. financial
E. natural - Answers -B. human
Financial resources are also known as _____.
A. capital
B. labor
C. barter
D. natural resources
E. exchange - Answers -A. capital
The principles and standards that determine acceptable conduct in business
organizations are referred to as:
A. social responsibility
B. business strategies
C. business ethics
D. business stances
E. corporate citizenship - Answers -C. business ethics
ACCURATE ANSWERS
____ is the primary goal of business.
A. charity
B. profit
C. bureaucracy
D. quality
E. strategy - Answers -B. profit
All the groups that have an interest in an organization's success and outcomes are
known as the organization's ____.
A. agencies
B. stakeholders
C. owners
D. investors
E. shareholders - Answers -B. stakeholders
Advertising, personal selling, coupons, and sweepstakes are forms of the _____ aspect
of marketing activities.
A. finance
B. promotion
C. production
D. fund raising
E. social responsibility - Answers -B. promotion
_____ refers to all activities concerned with obtaining and managing money and using it
effectively.
A. public relations
B. marketing
C. production
D. advertising
E. finance - Answers -E. finance
____ relates to the number of goods and services that consumers are willing to buy at
different prices at a specific time
A. demand
B. supply
C. elasticity
D. balance of payments
E. deficit - Answers -A. demand
, Economic expansion occurs when:
A. fewer goods and services are produced than consumer demand
B. an economy is growing and people are spending more money
C. a nation's standard of living drops dramatically
D. employment levels decline over time
E. prices begin to rise and incomes begin to fall - Answers -B. an economy is growing
and people are spending more money
Which of the following is an example of an intangible product?
A. a movie dvd
B. a sandwich
C. a sports care
D. a music concert
E. jewelry - Answers -D. a music concert
____ is the study of how resources are distributed for the production of goods and
services within a social system.
A. public relations
B. sociology
C. demographics
D. psychographics
E. economics - Answers -E. economics
A firm's ____ resources are also known as labor.
A. economic
B. human
C. intangible
D. financial
E. natural - Answers -B. human
Financial resources are also known as _____.
A. capital
B. labor
C. barter
D. natural resources
E. exchange - Answers -A. capital
The principles and standards that determine acceptable conduct in business
organizations are referred to as:
A. social responsibility
B. business strategies
C. business ethics
D. business stances
E. corporate citizenship - Answers -C. business ethics
