POBF- Unit 5 pt.2 Final Exam Review

at PME company, four employees worked 25 hours a week and produced 4,200 products. what is the total hourly production output?

42

If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity level?

93

a group of individuals wants to open a museum that will display items from early settlers of the area. The group will charge just enough admission to pay the expenses of operating the museum. Will the museum be a business?

Yes, the museum will be a not-for-profit business.

Three primary factors that affect the organizational structure of a business include interpersonal relationships, tasks, and:

authority

If a business is not concerned about social responsibility, it is likely to:

be a failure

which is an example of an economic factor that affects the business environment?

business cycle

Businesses that successfully adapt to current market situations often realize that:

change is an opportunity

the productivity of an individual worker can be measured by:

dividing the number of customers served by the number of hours an employee worked

A U.S. company would decide to offer its products in other countries as a reason to:

expand to new, untapped markets.

which is a factor that affects the business environment?

industry competition

The government can borrow money from the private sector in order to pay the costs of regulation by:

issuing bonds

the owner of a small company decides to stock a new product. Which business activity should the owner use to inform potential customers about the new product?

marketing

The formula that is generally used to measure productivity is:

outputs divided by inputs

Which provides government protection of business property?

patents

one reason that has caused the governments role in business to expand is that:

peoples attitudes have changed

Kim invests heavily in a marketing campaign to stimulate sales for her company. What type of management process is this an example of?

proactive management

One reason why many small businesses develop an organizational design that requires a board of directors is because a board usually:

provides experience that increases the business's credibility

Business ethics involve considering issues about what is:

right and wrong

a small business owner whose business is a sole proprietorship is planning to "go global". What method for going global would be best to recommend to the small-business owner?

start by hiring an export management company

Which factor has aided the most in creating a global business environment?

technology

which is an example of ethical business behavior?

testing products to ensure they are safe to use

which situation would most likely indicate the need to adapt to changes in the business environment?

the supply of materials used in manufacturing a product has decrease

the two main divisions of the trade industry are:

wholesalers and retailers