MANA 1300 Chapters 1-2 Quiz
Which of the following is not a degree of competition? - answer natural competition
A business's core goal is to generate long term profits while delivering _____ to its
customers. - answer value
Most business enterprises in the United States are privately owned, but the federal
government owns a number of major enterprises, e.g., the U.S. Postal Service. This
suggests that the U.S. economy is best classified as a - answer mixed economy.
In the U.S., the control of the money supply is the responsibility of the - answerFederal
Reserve.
ExxonMobil uses natural resources, such as reserves of petroleum, to produce its
goods and services. The value of these resources is likely to - answer rise with either an
increase in demand or with a decrease in supply.
Why is a low level of inflation desirable in an economy, and why is deflation not
desirable? - answerIt reflects a healthy economy; people have money and are willing to
spend it.
All of the following are examples of the five distinct eras of American business history
EXCEPT the - answertechnology era.
To stimulate competition and protect both consumers and workers, the federal
government - answercreates regulations to intervene in the free market.
In the broadest sense, economics studies the choices that - answerpeople,
governments, and companies make in allocating resources.
To be successful, entrepreneurs must be comfortable risking their money and _____ to
start and manage a business. - answertime
Which of the following is not a degree of competition? - answer natural competition
A business's core goal is to generate long term profits while delivering _____ to its
customers. - answer value
Most business enterprises in the United States are privately owned, but the federal
government owns a number of major enterprises, e.g., the U.S. Postal Service. This
suggests that the U.S. economy is best classified as a - answer mixed economy.
In the U.S., the control of the money supply is the responsibility of the - answerFederal
Reserve.
ExxonMobil uses natural resources, such as reserves of petroleum, to produce its
goods and services. The value of these resources is likely to - answer rise with either an
increase in demand or with a decrease in supply.
Why is a low level of inflation desirable in an economy, and why is deflation not
desirable? - answerIt reflects a healthy economy; people have money and are willing to
spend it.
All of the following are examples of the five distinct eras of American business history
EXCEPT the - answertechnology era.
To stimulate competition and protect both consumers and workers, the federal
government - answercreates regulations to intervene in the free market.
In the broadest sense, economics studies the choices that - answerpeople,
governments, and companies make in allocating resources.
To be successful, entrepreneurs must be comfortable risking their money and _____ to
start and manage a business. - answertime
