Intro to Business Management
A deep and prolonged recession is known as ________.
A depression
Which of the following can create bias in AI systems?
Algorithms and data built with human bias
Private individuals who put their own money into start-ups, with the goal of eventually selling their interest for a profit, are called ________.
Angel investors
The money, equipment, and buildings that a business needs in order to produce goods and services are called ________.
Capital
________ are not-for-profit, member-owned cooperatives that offer deposit accounts and lending services to consumers and small businesses.
Credit unions
A company that takes positive steps to address a particular issue, but only because it has been embarrassed into action by negative publicity, is practicing ________ CSR.
Defensive
Profit refers to the money the company brings in through the sale of goods and services.
False
Companies that engage in cynical CSR believe that the only social responsibility of business is to pay taxes and obey the law.
False (companies can)
Companies that engage in cynical CSR believe that the only social responsibility of business is to pay taxes and obey the law.
False (companies that engage)
Deep learning refers to the general capability of computers to learn.
False (deep learning)
Ethnocentrism is the tendency to being open to learning more about someone than just their demographic information.
False (ethnocentrism)
Intangible products have a physical presence.
False (intangible products)
A master limited partnership cannot raise money by selling units of ownership to the general public.
False (master limited)
The owner has limited personal liability for the business's financial obligations in sole proprietorships.
False (owner has limited)
The start-up schedule section in a business plan would forecast the income, expenses, and cash flow for the first three years of business.
False (start-up schedule)
The stock of a private corporation is made available for purchase by the public.
False (stock)
Which of the following best describes deregulation?
Having fewer rules and relying on the market to prevent excesses
Which of the following is an indication of lack of transparency in AI?
Humans cannot understand how AI makes some decisions.
The entrepreneurial spirit found within a larger corporation is referred to as ________.
Intrapreneurship
Who can act as an independent board member to help guide the operation of the board and remain an independent voice in governance?
Lead Director
The policies and practices of government bodies would shape the ________ environment for a business.
Legal and regulatory
In the money supply, what represents the cash held by the public and money deposited in checking accounts?
M1
One way a company benefits from economies of scale when it ________.
Manufacturers and distributes products in higher quantities
One of the ________ functions of a business involves working with R&D to develop products to address opportunities in the marketplace and create branding and advertising strategies to communicate with potential customers.
Marketing
_______ use(s) cloud technology to provide services through mobile and digital channels, thereby reducing the cost of banking services.
Neobanks
When translating text within images, ________ software can translate text that is written in standard type fonts.
Optical character recognition
What is the result of the creation, delivery, use, and disposal of products valued by society?
Pollution and loss of natural resources
What should be done to improve communications and ensure information is useful and adapted to the audience's specific needs?
Provide practical information
A country can assist its domestic producers by implementing ________ such as special business licenses and limiting foreign companies' access to them.
Restrictive import standards
How can a large firm foster an entrepreneurial spirit within the organization?
Reward risky behavior that might lead to innovation.
In addition to receiving funding from the initial cost of a franchise purchase, how does a franchisor make money?
Royalties on a percentage of sales revenue
What are long-term partnerships between companies to jointly develop or sell products or services?
Strategic alliances
If a country needed help in dealing with a natural disaster, where might they go?
The International Monetary Fund
Why should corporations be allowed to generate profits?
The country's standard of living involves the goods and services created by profit-seeking companies.
Motivational collapse occurs when the would-be entrepreneur is burned out before the business becomes self-sustaining.
True (motivational collapse)
Foreign direct investment (FDI) ________.
Typically gives companies greater control over business operations
A vertical merger occurs when ________.
a company purchases a complementary company at a different stage or levels
In a sole proprietorship, the owner ________.
and the business are legally inseparable
Demand curves typically slope downward. This implies that a(n) ________.
decrease in price will increase the quantity demanded
For deep learning to occur, successive layers of neural networks _______.
must be trained to figure out one specific piece of the puzzle at a time
One of the general characteristics of a small business is that it typically sells fewer products ________.
to fewer market segments
A person's disclosure that exposes illegal or unethical behavior by others within the organization is ________.
whistle-blowing