eQuizShow

Business

Code of Ethics

Question: What's the first topic addressed in a business code of ethics?
Answer: Honesty

Question: What's the second topic addressed in a business code of ethics?
Answer: Courtesy

Question: What's the third topic addressed in a business code of ethics?
Answer: Confidentiality

Question: What's the fourth topic addressed in a business code of ethics?
Answer: Dealing with costumers

Question: What's the fifth topic addressed in a business code of ethics?
Answer: Dealing with coworkers

Profit

Question:
(Fill in the blank)
Profit is a _____ gain.
Answer: financial

Question: If Bill Gate's business income was $5,365,800 and his expenses were $1,783,645...how much would his net profit be?
Answer: $3,582,155

Question: Does net profit include gross profit when calculating expenses?
Answer: No

Question: What objective is profit related to?
Answer: Pricing

Question: In order to calculate your financial gain, you must sell products at a certain price and subtract all _____ paid.
Answer: Expenses

Decision-Making

Question: What is the first step in the decision-making process?
Answer: Defining the problem

Question: What is the second step in the decision-making process?
Answer: Identify the choices

Question: What is the third step of the decision-making cycle?
Answer: Evaluating the advantages and disadvantages of each choice

Question: You've decided to not go out with your friends to the movies, for you'd have to pay expenses which you will need for later. Now you're thinking of what decision you have just made, reviewing it. Which step of the decision-making process are you going through? (Type title, not step number)
Answer: Reviewing your decision

Question: When developing new products or services, considering the needs of the customers is an important part of the _______ _____.
Answer: Marketing concept

Supply

Question: Scarcity is only a problem for LCD countries. (True or False?)
Answer: False

Question: The total value of all final goods and services produced in a year is called ____ ______ _____.
Answer: Gross domestic product

Question: The quantity of a good or service that consumers are willing and able to buy at a particular price is called _____.
Answer: Demand

Question: A long-term budget is a budget that estimates income and expenses from the beginning of the business until it becomes profitable. (True or False?)
Answer: False

Question: When one person will supply the money needed to start a business, it's called ___________.
Answer: Proprietorship

Business Types

Question: What is a type of business sells directly to the consumer?
Answer: Retailer

Question: The business function that adds value to its product is ____.
Answer: Farming

Question: When conducting a business plan, who are trying to impress? 

~Hint: Lenders & ______

Answer: Investors

Question: What type of business takes raw materials and turns them into some usable form?
Answer: Manufacturer

Question: You want to start your own business. The only problem is that you do not have the knowledge/skills needed to manage the finances of your business. Should you....

A. Register as a corporation            B. Buy a unicorn to solve problems
C. Develop a partnership                 D. Eat corn

Answer: C. Develop a partnership