Business Ch.1 Study Model

A marketing specialist is primarily responsible for which of the following activities?

Deciding how the benefits of a product should be advertised

Developing plans to determine the best ways in which a firm can raise additional capital to launch a new product is primarily the job of a company's __________.

Financial managers

Which of the following best defines the baby boomer generation?

The generational group of people born during the years following 1946 and lasting until 1964

How do businesses contribute to society?

They contribute to national growth, stability, and security.

Which of the following indicates you are thinking more with a consumer mindset than a business mindset?

You wonder how much you will have to pay for a new curved plasma TV you want to buy and where you can get the best deal on it.

Making your coworkers look good and fixing problems rather than complaining about them are examples of being __________.

a team player and positive

Organizations that offer products to their customers to earn a profit are known as __________.

businesses

During the last recession, many high-end retailers experienced a drop in sales. This was due to a change in the __________.

economic environment

A person who enjoys figuring out how to find the best employees for an organization, motivate, and retain them is likely to most enjoy a job as a(n) __________.

human resources manager

When a company's expenses are greater than its revenues, the company typically experiences a(n) __________.

loss

Deciding how the benefits of a product should be advertised is a primary function of which type of professional?

marketing specialist

A person who enjoys solving difficult production and distribution problems as well as working with many different people in an organization is most likely to be interested in becoming what type of professional?

operations manager

Not showing up to work on time on a regular basis could cause your manager to question your __________.

professionalism

When a company's revenue is greater than its expenses, the company typically experiences a(n) __________.

profit

People who enjoy competition, solving problems, working with other people, and more day-to-day freedom than the average person might be most interested in becoming __________.

sales professionals

Which type of professionals are primarily responsible for monitoring and reporting a firm's ongoing financial activities?

Accounting managers

Identify the correct statement about goods and services offered by businesses.

Goods are physical products, while services are intangible products.

Which is not an example of professionalism?

Letting your coworkers do most of the work on a team assignment

Customer support falls under which of the following major functional areas of a business?

Marketing and sales