Business Management FBLA Quizzes (edited)

4. Forepersons, crew leaders, and store managers are all examples of _____ managers.

A. middle

B. supervisory

C. senior

D. beginning

B. Supervisory

5. A sole proprietorship is a business owned by _____. A. one company

B. relatives

C. one person

D. the bank

C. One Person

6. _____ percent of the businesses in the United States are small businesses.

A. 45

B. 67

C. 90

D. 98

D. 98

4. In the United States, the Industrial Revolution began in approximately _____.

A. 1960

B. 1789

C. 1900

D. 1860

1860

5. A _____ occurs when one party maintains total control over a type of industry.

A. takeover

B. landslide

C. monopoly

D. hierarchy of needs

C. monopoly

6. Consider quality as well as price in awarding business is a principle of _____.

A. total quality management

B. Maslow's hierarchy of needs

C. scientific management

D. the Hawthorne effect

A. total quality management

7. Theory X

A. Assumes that employees will work best when

given some collective decision making power and some emphasis on personal responsibility.

B. pessimistic view

C. Assumes that people will perform well if they are put in the right environment.

B. pessimistic view

8. Theory Y

A. Assumes that employees will work best when

given some collective decision making power and some emphasis on personal responsibility.

B. pessimistic view

C. optimistic view

C. optimistic view

9. Theory Z

A. Assumes that employees will work best when

given some collective decision making power and some emphasis on personal responsibility (Japanese)

B. Assumes that people need strict rules in order to perform well.

C. Assumes that people will perform well if they are put in the right environment.

A. Japanese

10. According to Maslow, which need would a worker fill first?

A. need to earn enough money

B. need for a safe work environment

C. needs are at the same level

D. depends on the personality of the worker

A. need to earn enough money

4. _____ show changes or movement in a certain area.

A. Values

B. Learning styles

C. Networks

D. Trends

D. Trends

A job applicant should always include a _____ when sending a résumé to a potential employer.

A. self-addressed-stamped-envelope

B. fax number

C. cover letter

D. reply deadline

C. cover letter

6. Responsibility, achievement, recognition, relationship, compassion, and courage are examples of _____.

A. learning styles

B. personalities

C. values

D. lifestyles

C. values

What are some examples of nonprofit organizations?

A. The Girl Scouts

B. The Museum of Tolerance

C. The Sierra Club

D. All of the above

D. All of the above

A person faces _____ when it is not easy to decide what the correct course of action should be.

A. dismissal

B. an ethical dilemma

C. a code of ethics

D. a lawsuit

B. an ethical dilemma

False advertising is prohibited by the _____ act.

A. Wheeler-Lea

B. Sherman

C. Clayton

D. Food, Drug, and Cosmetic

A. Wheeler-Lea

The National Environmental Policy Act created the _____ in 1969.

A. FDA

B. EPA

C. FCC

D. none of the above

B. EPA

The law regulating how two or more people can set up a partnership is called the _____.

A. Wheeler-Lea Act

B. Corporate Partnership Act

C. Uniform Partnership Act

D. Sole Proprietor Act

C. Uniform Partnership Act

A patent gives an inventor and company exclusive rights to make, use, and sell their inventions for ___ years.

A. 100

B. 25

C. 7

D. 17

D. 17

The National Labor Relations Act regulates the relationship between businesses and _____.

A. unions

B. the government

C. the IRS

D. employment agencies

A. unions

What law protects individuals against business activities that might be harmful to them?

Consumer law

What law regulates how businesses enter into contracts with other businesses and consumers?

Commercial Law

What law refers to the laws, rules, and regulations that pertain to corporations. The laws involved regulate the rights and obligations involved with the business activities of a corporation, including formation, ownership, operation, and management.

Corporate law

_____ are determined by subtracting revenues from costs.

A. Losses

B. Taxes

C. Profits

D. Prices

C. Profits

The price at which supply equals demand is called the _____.

A. coincident index

B. equilibrium price

C. market price

D. value price

B. equilibrium price

The _____ describes the expansion and contraction of many industries at once.

A. economy

B. recession

C. leading index

D. business cycle

D. business cycle

A tax on imports is called _____.

A. a tariff

B. an embargo

C. a quota

D. comparative advantage

A. a tariff

Restrictions on trade are reduced or eliminated in _____.

A. international trade

B. the global economy

C. the balance of trade

D. a free trade area

D. a free trade area

It is appropriate to arrive to a business meeting late in _____.

A. China

B. Switzerland

C. Indonesia

D. none of the above

C. Indonesia

What allows a company to gain share of the profits made when

a foreign business sells the home company's goods?

Licensing Agreement

A strategy in which a company seeks growth by adding products and markets of a kind unrelated to its existing products and markets.

market diversification

The first step in the Meyers model for creative decision making is _____.

A. problem finding

B. idea finding

C. recognition

D. fact finding

C. recognition

By observing body language, or _____, a manager can gain additional information about a speaker.

A. speaking

B. active listening

C. interrupting

D. nonverbal cues

D. nonverbal cues

The KIS principle stands for _____.

A. keep it simple

B. kindness, integrity, service

C. kindred information systems

D. keep information secure

A. keep it simple

The most common form of written business communication is the _____.

A. business letter

B. fax

C. memo

D. email

C. memo

When a company or government disposes of all or some of its assets by selling, exchanging, closing them down, or through bankruptcy.

divestiture

Strategic planning is _____ planning done by a company's senior managers.

A. emergency

B. long-range

C. occasional

D. tax

B. long-range

a study undertaken by an organization to identify its internal strengths and weaknesses, as well as its external opportunities and threats.

SWOT analysis

A _____ outlines a company's reason for existing.

A. formulating strategy

B. policy statement

C. procedure manual

D. mission statement

D. mission statement

When a company plans to reverse negative trends.

Retrenchment Strategy

When a company plans to keep operating at the same level that it has been for years.

Stability Strategy

When a company plans to expand sales, products, or personnel.

Growth Strategy

The processes and activities needed to produce goods or services are referred to as a company's _____.

A. operating system

B. facilities layout

C. materials-handling system

D. site selection

A. operating system

An operating system that functions all of the time is called _____.

A. an intermittent-flow system

B. a materials-handling system

C. a continuous-flow system

D. a production system

C. a continuous-flow system

_____ involves creating a detailed production timetable.

A. Aggregate production planning

B. Activity scheduling

C. Job design

D. Site selection

B. Activity scheduling

The number of skills a worker needs to perform a job.

Skill Variety

The level of impact a job has on the whole organization.

Task significance

The degree to which a job allows a worker to complete an entire task.

Task Identity

People who have power based on the rights that come with a position have _____.

A. wealth

B. job depth

C. chain of command

D. authority

D. authority

The _____ principle states that an employee should have only one immediate supervisor.

A. Peter

B. unity of command

C. division of labor

D. accountability

B. unity of command

Employees who take responsibility for their actions are demonstrating _____.

A. job scope

B. organization

C. insubordination

D. accountability

D. accountability

Periodically moving workers from one job to another.

Job Rotation

Giving employees the freedom to plan and organize their work.

Job Depth

Assigning employees a set number of responsibilities.

Job Scope

What famous philosopher first outlined the benefits of the division of labor?

A. Karl Marx

B. Abraham Maslow

C. Adam Smith

D. Frederick Taylor

C. Adam Smith

The _____ acts as the legal representative of a company's stockholders.

A. finance department

B. human resources department

C. CEO

D. board of directors

D. board of directors

The most important executive in a company is called the _____.

A. senior manager

B. director

C. chief executive officer

D. top financial officer

C. chief executive officer

a company structure where teams report to multiple leaders.

Matrix structure

the simplest organizational structure, in which direct lines of authority extend from the top manager to the lowest level of the organization

Line structure

When group members become unwilling to say anything against the group or its members, even if they think an action is wrong.

groupthink

_____ are the linking pins that keep formal work groups connected to the entire company.

A. Informal work groups

B. Teams

C. Staff functions

D. Managers

D. Managers

Informal rules a group adopts to regulate the behavior of

members.

Group norms

The degree of attraction among group members.

group cohesiveness

The degree to which group members accept the group's informal rules.

group conformity

a mode of behavior or way of thought peculiar to an individual

idiosyncrasy

The _____ takes place when an interviewer's impressions are dominated by a single characteristic of the job applicant.

A. preliminary screening

B. halo effect

C. personal judgment

D. unstructured interview

B. halo effect

When an employee resigns, the human resources department may conduct _____ to pinpoint the employee's reasons for leaving.

A. an exit interview

B. an audit

C. a structured interview

D. a promotion

A. an exit interview

In a _____ system, employee salary increases are tied to performance.

A. seniority

B. intrinsic rewards

C. merit pay

D. vestibule training

C. merit pay

A manager who reprimands an employee who does not meet production standards is using _____ to motivate that employee.

A. needs hierarchy

B. intrinsic rewards

C. hygiene factors

D. negative reinforcement

D. negative reinforcement

The ____ theory addresses the relationship between a leader's behavior and subordinates' performance and job satisfaction.

A. path-goal

B. power-affiliation

C. universal

D. trait

A. path-goal

Need for power

A. high school teacher

B. novelist

C. bank president

C. bank president

Need for achievement

A. high school teacher

B. novelist

C. bank president

B. novelist

Need for affiliation

A. high school teacher

B. novelist

C. bank president

A. high school teacher

Which of the following is a drawback of studies that take universal approaches to leadership?

A. Not all leadership styles are appropriate for all situations.

B. There are not enough good leaders to study.

C. Both

D. Neither

A. Not all leadership styles are appropriate for all situations.

An employee suffers from _____ when excessive stress causes him or her to lose interest in his or her job.

A. alienation

B. interpersonal conflict

C. negative reinforcement

D. burnout

D. burnout

Reorganizations and corporate downsizing can be major sources of _____ conflict.

A. interpersonal

B. intergroup

C. organizational

D. imaginary

C. organizational

_____programs are company-sponsored programs that help employees deal with personal problems.

A. Employee assistance

B. Loss prevention

C. Motivation

D. Conflict resolution

A. Employee assistance

Employee lacks opportunities for social interaction and decision making

Alienation

Non-technological change that occurs outside an organization is called _____ change.

A. global

B. internal

C. environmental

D. initial

C. environmental

In a corporation with a strong corporate culture, _____ reduces threats to the organization from newcomers.

A. diversity

B. autonomy

C. process culture

D. entry socialization

D. entry socialization

A biotech firm trying to invent medicines that will cure cancer is likely adhere to a _____ culture.

A. macho

B. work-hard/play-hard

C. bet-your-company

D. process

C. bet-your-company

A _____ outlines what is expected of an employee or organizational unit.

A. post-action control

B. financial ratio

C. standard

D. balance sheet

C. standard

The partially finished goods that a company keeps in stock are considered _____.

A. deteriorated

B. indirect costs

C. inventory

D. obsolete

C. inventory

The _____ is the number of units at which ordering costs equal holding costs.

A. economic order quantity

B. safety stock

C. physical inventory

D. fixed order quantity

A. economic order quantity

_____ makes quality the responsibility of all employees.

A. Quality control

B. Quality assurance

C. Quality inspection

D. Quality planning

B. Quality assurance

Comparing quality performance to quality standards

Quality control

Establishing a team to determine why a product

does not meet quality standards.

Quality improvement

When a manager is overwhelmed with more data, text, and images than he or she can usefully process, the manager is suffering from _____.

A. burnout

B. obsolescence

C. hacking

D. information overload

D. information overload

Much of the record keeping people previously did by hand is now handled through _____.

A. software

B. transaction processing

C. expert systems

D. hardware

B. transaction processing

Because turnover among computer specialists is high, many companies resort to _____ the management of their MIS.

A. data processing

B. downsizing

C. outsourcing

D. transaction processing

C. outsourcing

A computer program that gives advice about a specialized decision, but does not ask for judgment calls by the user.

Expert system

A system that helps a manager or group solve problems by organizing specific information and sometimes providing suggestions.

Decision Support System

An interactive tool that provides senior managers with access to information about the general condition of the business.

Executive information system