MANAGEMENT 101 EXAM STUDY GUIDE
1.What is the primary goal of business
ANS - profit
2.All the groups that have an interest in an organizations success and outcomes are
known as the organizations
ANS - stakeholders
3.Advertising, personal selling, coupons and sweepstakes are forms of the
_____________ aspect of marketing activities
ANS - promotion
4._____________ refers to all of the activities concerned with obtaining and managing
money and using it effectively
ANS - finance
5._____________ relates to the number of goods and services that consumers are willing
to buy at different prices at a specific time
ANS - demand
6.Economic expansion occurs when
ANS - an economy is growing and people are spending more money
, MANAGEMENT 101 EXAM STUDY GUIDE
7.which of the following is an intangible product
ANS - a music concert
8._______________ is the study of how resources are distributed for the production of
goods and services within a social system
ANS - economics
9. A firms ___________ resources are also known as labor
ANS - human
10. Financial resources are known as ___________
ANS - capital
11. the principles and standards that determine acceptable conduct in business
organization are referred to as
ANS - business ethics
, MANAGEMENT 101 EXAM STUDY GUIDE
12. the terms social _________ refers to a business obligation to maximize its positive
impact and minimize its negative impact on society ANS - responsibility
13. which of the following statements are false about ethics ANS - ethical issues are
limited to for profit organizations
14. ______ involves taking someone else’s work and presenting it as your own ANS -
plagiarism
15. if an employee learned a significant cost saving idea from a coworker and then
informed management the idea without revealing its true resource, then the
employee would be involved in ANS - plagiarism
16. a set of formalized rules and standards that describes what a company expects of
its employees is called an ANS - code of ethics
17. a large number of _______ cases result in retaliation against the employee, even
though the gov has tried to take steps to protect workers and encourage reporting
misconduct ANS - whistleblowing??
1.What is the primary goal of business
ANS - profit
2.All the groups that have an interest in an organizations success and outcomes are
known as the organizations
ANS - stakeholders
3.Advertising, personal selling, coupons and sweepstakes are forms of the
_____________ aspect of marketing activities
ANS - promotion
4._____________ refers to all of the activities concerned with obtaining and managing
money and using it effectively
ANS - finance
5._____________ relates to the number of goods and services that consumers are willing
to buy at different prices at a specific time
ANS - demand
6.Economic expansion occurs when
ANS - an economy is growing and people are spending more money
, MANAGEMENT 101 EXAM STUDY GUIDE
7.which of the following is an intangible product
ANS - a music concert
8._______________ is the study of how resources are distributed for the production of
goods and services within a social system
ANS - economics
9. A firms ___________ resources are also known as labor
ANS - human
10. Financial resources are known as ___________
ANS - capital
11. the principles and standards that determine acceptable conduct in business
organization are referred to as
ANS - business ethics
, MANAGEMENT 101 EXAM STUDY GUIDE
12. the terms social _________ refers to a business obligation to maximize its positive
impact and minimize its negative impact on society ANS - responsibility
13. which of the following statements are false about ethics ANS - ethical issues are
limited to for profit organizations
14. ______ involves taking someone else’s work and presenting it as your own ANS -
plagiarism
15. if an employee learned a significant cost saving idea from a coworker and then
informed management the idea without revealing its true resource, then the
employee would be involved in ANS - plagiarism
16. a set of formalized rules and standards that describes what a company expects of
its employees is called an ANS - code of ethics
17. a large number of _______ cases result in retaliation against the employee, even
though the gov has tried to take steps to protect workers and encourage reporting
misconduct ANS - whistleblowing??
