Survey of Business Question Bank
Course Introduction
Survey of Business offers students an introductory exploration of the essential principles and functions of the modern business environment. Covering key areas such as management, marketing, finance, accounting, operations, and entrepreneurship, this course provides a broad overview of how businesses are structured, operate, and respond to contemporary challenges. Through real-world examples and case studies, students gain foundational knowledge about ethical decision-making, the impact of globalization, and the role of technology in business, preparing them for further study or a career in the business sector.
Recommended Textbook
Better Business 3rd Edition by Michael R. Solomon
Available Study Resources on Quizplus
21 Chapters
1726 Verified Questions
1726 Flashcards
Source URL: https://quizplus.com/study-set/2019
Page 2
Chapter 1: Business Basics
Available Study Resources on Quizplus for this Chatper
88 Verified Questions
88 Flashcards
Source URL: https://quizplus.com/quiz/40166
Sample Questions
Q1) To become successful,a company should keep pace with the latest technology.
A)True
B)False
Answer: True
Q2) Tom is a college senior who would like to get a "green-collar" job when he graduates.Which of the following positions is he LEAST likely to apply for?
A) a job as a wind turbine engineer
B) a job installing solar panels
C) a job as manager at an oil refinery
D) a job weatherproofing houses
E) a job selling hybrid cars
Answer: C
Q3) As more profit is generated,a company is able to increase its productivity.
A)True
B)False
Answer: True
Q4) When businesses compete,products usually become more expensive.
A)True
B)False
Answer: False
Page 3
To view all questions and flashcards with answers, click on the resource link above.
Chapter 2: Economics and Banking
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/40168
Sample Questions
Q1) Holding all other factors constant,prices are set slightly above the point where supply equals demand.
A)True
B)False
Answer: False
Q2) ________ occurs when there are many buyers and sellers of products that are virtually identical and any seller can easily enter and exit the market.
A) Monopolistic competition
B) A monopoly
C) An oligopoly
D) A duopoly
E) Perfect competition
Answer: E
Q3) The discount rate is the interest rate banks are charged when they borrow money from the Fed.
A)True
B)False
Answer: True
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Ethics in Business
Available Study Resources on Quizplus for this Chatper
98 Verified Questions
98 Flashcards
Source URL: https://quizplus.com/quiz/40170
Sample Questions
Q1) Patricia often acts without thinking of the consequences.She usually comes home late and even skips her turn to do household chores.When someone asks her if she thinks what she does is right or wrong,she says she doesn't really know and she doesn't really care.Patricia's behavior can be classified as ________.
A) amoral
B) unethical
C) ethical
D) moral
E) Judeo-Christian
Answer: A
Q2) The right to be heard is one of the four ethical standards made into a legal right by the 1962 Consumer Bill of Rights.
A)True
B)False
Answer: True
Q3) What is sustainability?
Answer: Sustainability is the process of working to improve the quality of life in ways that simultaneously protect and enhance the earth's life support systems.
To view all questions and flashcards with answers, click on the resource link above. Page 5
Chapter 4: Business in a Global Economy
Available Study Resources on Quizplus for this Chatper
103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/40172
Sample Questions
Q1) List the six methods for entering foreign markets.
Q2) All of the following are ethical challenges to conducting business in a foreign country EXCEPT ________.
A) conforming to home country environmental standards
B) doing business with repressive totalitarian regimes
C) exceeding product safety standards
D) protecting property rights
E) exceeding workplace standards
Q3) What are multinational enterprises? How have they contributed to the growth of globalization?
Q4) What are the advantages and disadvantages of joint ventures?
Q5) In what way does a demand for a bribe by an international business partner present an ethical challenge to a U.S.businessperson?
Q6) How has the European Union affected international business worldwide?
Q7) By differentiating its products to meet unique local needs,tastes,or preferences,a company follows a multidomestic strategy.
A)True
B)False
Q8) How do most economists feel about protectionist trade barriers?
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Small Business and the Entrepreneur
Available Study Resources on Quizplus for this Chatper
103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/40174
Sample Questions
Q1) A disadvantage of buying a franchise is that some franchises do not restrict the location or number of their franchises.
A)True
B)False
Q2) Which of the following is NOT an advantage of buying an existing business?
A) It is simpler than beginning a new business from scratch.
B) There is a reduction in start-up time and energy.
C) An existing business has less competition.
D) An existing business has an existing customer base.
E) It might be easier to obtain financing to purchase the existing business.
Q3) An advisory board is responsible for making and implementing recommendations concerning varied aspects of a small business.
A)True
B)False
Q4) Only 20 percent of small businesses survive after five years of operation.
A)True
B)False
Q5) What is an entrepreneurial team? Describe the major reasons why an entrepreneurial team might be formed.
To view all questions and flashcards with answers, click on the resource link above. Page 7
Chapter 6: Forms of Business Ownership
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/40175
Sample Questions
Q1) Arthur is a truck driver who owns his own business.He has been on the road for several months,and the constant wear and tear on his truck results in the need for several major mechanical repairs.This generates a loss for his business.Which of the following reflects how this will affect Arthur's tax obligation?
A) Arthur's tax obligation will be increased.
B) Arthur's tax obligation will be reduced.
C) Arthur's tax obligation will not change at all.
D) Arthur will not be required to pay his tax obligation.
E) Arthur gets an automatic extension on paying his tax obligation
Q2) The most significant difference between a partnership and a sole proprietor is the ________.
A) amount of liability of owners
B) taxation process used by owners
C) number of government forms required for establishment
D) number of people contributing resources
E) revenue potential
Q3) Sarah,Mike and Mark are dentists who would like to form a partnership.They have decided to form a limited liability corporation.Explain why this is a good choice for their dental practice.
To view all questions and flashcards with answers, click on the resource link above.
Page 8
Chapter 7: Business Management and Organization
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/40176
Sample Questions
Q1) Division managers who are responsible for financial,marketing,sales,operations,or IT divisions and team leaders who are responsible for a group of employees are
A) top managers
B) first-line managers
C) middle managers
D) senior managers
E) executive board members
Q2) The BEST way to describe the conceptual skills that a good manager must develop is to state that these skills must include understanding the relationships between
A) product designs and product manufacturing
B) the different parts of the organization
C) the legal firms who represent the company
D) machinery workers and machine service workers
E) promotional campaigns and customer response
Q3) Why are horizontal structures called the "model for the knowledge age"?
Q4) What are at least three of the interpersonal skills that a top manager must develop in order to work successfully with people both inside and outside an organizations?
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Motivation, Leadership, and Teamwork
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/40177
Sample Questions
Q1) The Q12 classifies employees who work with passion and add to the success of the company as "engaged."
A)True
B)False
Q2) Christina supervises a group of employees at a company that just went through a downsizing.Many other supervisors are no longer with the company and their employees have been assigned to Christina.Her group has doubled in size and there are some hard feelings among the employees.Christina decides to hold group breakfast meetings once a week to connect people to one another and to boost morale.She is an empathetic leader who listens to her employees and helps solve conflicts.Which of the following best describes Christina's leadership style?
A) visionary
B) autocratic
C) pacesetting
D) affiliative
E) democratic
Q3) Compare and contrast organizational and industrial psychology.
Q4) How has technology changed the design of work teams?
Q5) Describe a good work team.Why are they valuable to the workplace?
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Human Resource Management
Available Study Resources on Quizplus for this Chatper
107 Verified Questions
107 Flashcards
Source URL: https://quizplus.com/quiz/40178
Sample Questions
Q1) What is collective bargaining?
Q2) Worldwide Technologies,Inc.has moved its customer service operations to India.In addition to lowering its labor costs,Worldwide also is diversifying its workforce.
A)True
B)False
Q3) When union and management come to an impasse,Sarah works as a neutral third party who assists them privately and collectively to identify issues and to develop proposals for resolution.This process is known as ________.
A) collective bargaining
B) mediation
C) arbitration
D) strikebreaking
E) a lockout
Q4) Develop a workforce profile that includes yourself and your best friend as employees.
Q5) Why would an employee seek a promotion?
Q6) Define the steps in the HR activity,hiring.
Q7) What are the functions of human resource management?
Q8) What kinds of things happen when negotiations break down?
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Online Business and Technology
Available Study Resources on Quizplus for this Chatper
79 Verified Questions
79 Flashcards
Source URL: https://quizplus.com/quiz/40179
Sample
Questions
Q1) Mason's business is making a profit,but he needs to increase his bottom line so that he can invest in his firm's growth.He decides to purchase a business intelligence software package to help him identify ways to grow his company.Which of the following questions could Mason's business intelligence software answer?
A) Which of my competitors has the least debt?
B) Which countries would provide the least expensive production facilities?
C) Who are my top 10 revenue generating customers?
D) What new technologies will be available to increase my firm's productivity?
E) Which new markets would be the best for my firm to enter?
Q2) Which of the following BEST describes how businesses convert raw data into information?
A) asking information technology experts to review data for accuracy
B) organizing the data in a way that helps make decisions
C) storing the data in a data warehouse
D) using the prevalent automatic process
E) maintaining the representations of facts or ideas in their original form
Q3) What aspect of social media is Kickstarter an example of,and what does it do?
Q4) What is the current situation regarding sales taxes on Internet commerce? Who benefits? Who loses? Is the situation fair? Why or why not?
To view all questions and flashcards with answers, click on the resource link above. Page 12
Chapter 11: Production, operations, and the Supply Chain
Available Study Resources on Quizplus for this Chatper
91 Verified Questions
91 Flashcards
Source URL: https://quizplus.com/quiz/40180
Sample Questions
Q1) Richard owns a waste disposal factory that emits potentially harmful gases into the air.He decided not to open another factory that would have been close to a small town.He considered the human factor.
A)True
B)False
Q2) Enterprise resource planning (ERP)is simpler and less sophisticated than manufacturing resource planning (MRP).
A)True
B)False
Q3) Which of the following is NOT a component of the human factor?
A) availability of labor
B) living conditions
C) available transportation
D) laws and regulations
E) skill level or labor force
Q4) What are industrial robots,and how would a company benefit by including them as part of its production system?
Q5) How has quality control evolved over the years?
Q6) What effect has the introduction of CAD and CAM had on production?
Page 13
To view all questions and flashcards with answers, click on the resource link above.
Chapter 12: Marketing and Consumer Behavior
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/40181
Sample Questions
Q1) Which of the following is NOT a function of CRM software,which would help a company to learn as much as possible about customers and create a meaningful one-on-one interaction with each of them?
A) personalizing customer e-mail so that it addresses their particular needs
B) quickly identifying customers who call for customer service
C) calling customers at their homes to promote the latests products
D) offering products tailored specifically to customers' needs and desires
E) suggesting future purchases based on prior purchases or browsing interests
Q2) What factors do B2B purchasers typically take into consideration when making a purchasing decision?
Q3) When you have already determined that there is demand for the services of your potential business,your next step is to ________.
A) identify an unfilled market need
B) identify target customers
C) implement the marketing mix
D) conduct market research
E) nurture good customer relationships
Q4) Why is it important for a business to analyze the competition?
Q5) Name and provide a brief description of the 4 Ps of marketing.
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Product Development and Pricing Strategies
Available Study Resources on Quizplus for this Chatper
101 Verified Questions
101 Flashcards
Source URL: https://quizplus.com/quiz/40182
Sample Questions
Q1) If a company sets its price to increase its percentage of total industry sales,the company is using the pricing objective of maximizing profits.
A)True
B)False
Q2) Packaging milk in a sealed bag that does not require refrigeration is an example of creating new markets.
A)True
B)False
Q3) A brand can be any of the following EXCEPT a ________.
A) name
B) term
C) symbol
D) price
E) design
Q4) At an auto repair shop,wrenches are an example of MRO products.
A)True
B)False
Q5) Give an example of a company following the pricing objective of maximizing profits.
To view all questions and flashcards with answers, click on the resource link above. Page 15
Chapter 14: Promotion and Distribution
Available Study Resources on Quizplus for this Chatper
96 Verified Questions
96 Flashcards
Source URL: https://quizplus.com/quiz/40183
Sample Questions
Q1) Mary Murray visited the Fairmont Hotel chain website.She clicked several times on the site,searching for hotels and their amenities in several cities in California.She did not book a room at any of those hotels.How is this Internet activity of use to the Fairmont Hotel marketing department?
Q2) What is MOST often the lowest cost transportation mode?
A) railroads
B) waterways
C) trucks
D) airways
E) pipelines
Q3) The first step in the selling process is ________.
A) production
B) researching
C) prospecting
D) developing
E) approaching
Q4) Since the advent of digital video recorders (DVRs),viewers are able to record television shows without the advertisements; therefore,advertisers have had to find alternative ways to advertise products on television.What have advertisers been able to do?
Page 16
To view all questions and flashcards with answers, click on the resource link above.
Chapter 15: Financing and Tracking Business Operations
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/40184
Sample Questions
Q1) Financial statements represent what has happened in the past.
A)True
B)False
Q2) On a balance sheet,the difference between cash and cash equivalent figures between periods is the same value that appears at the bottom of the ________ for the same period.
A) income statement
B) operating budget
C) statement of cash flows
D) equity statement
E) capital budget
Q3) A financial manager is sometimes referred to as a ________.
A) CFO
B) CFM
C) COO
D) CEO
E) CIO
Q4) Assets are the amounts that a company owes to its creditors.
A)True
B)False
Page 17
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Investment Opportunities in the Securities Market
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/40185
Sample Questions
Q1) What are the most important factors to consider when deciding which particular stock to purchase?
Q2) What factors can affect a person's risk tolerance,and how can risk tolerance change over time?
Q3) A ________ stock will likely suffer the least amount of depreciation in a major recession.
A) cyclical
B) blue chip
C) growth
D) defensive
E) income
Q4) Both the New York Stock Exchange and the NASDAQ use only electronic methods for stock trading.
A)True
B)False
Q5) Is it possible to have money in a savings account and actually lose purchasing power in the long run?
Q6) Why is asset allocation important for an investor?
Q7) What are the four main advantages of mutual funds?
Q8) Describe two ways to make money by investing in stocks. Page 18
To view all questions and flashcards with answers, click on the resource link above.
Page 19
Chapter 17: Business Law
Available Study Resources on Quizplus for this Chatper
45 Verified Questions
45 Flashcards
Source URL: https://quizplus.com/quiz/40165
Sample Questions
Q1) Statutory law is ________.
A) the written text of the U.S. Constitution
B) written law determined by the legislative branch of the government
C) the written text of the Bill of Rights
D) unwritten but applied law
E) written by judges who try important cases
Q2) What does "UCC " stand for?
A) Uniform Commercial Code
B) Unintentional Commerce Claim
C) Unfair Contract Consideration
D) Undue Copyright Challenge
E) Union Corporation Credit
Q3) In 2010,U.S.businesses spent ________ on advertising.
A) $279 million
B) $27.9 billion
C) $279 billion
D) $2.79 trillion
E) $27.9 trillion
Q4) Can anyone enter into a business contract?
Q5) Why should bankruptcy only be used as a last resort?
To view all questions and flashcards with answers, click on the resource link above. Page 20
Chapter 18: Constructing an Effective Business Plan
Available Study Resources on Quizplus for this Chatper
37 Verified Questions
37 Flashcards
Source URL: https://quizplus.com/quiz/40167
Sample Questions
Q1) When writing a market analysis of your business plan,you should include all of the following EXCEPT ________.
A) explanation of the advantage of using business's product or service
B) identification of age and location of potential customers
C) description of methods that will be used to promote the business
D) description of the potential growth for the good or service
E) a clear understanding of your competition
Q2) A potential investor wants to know if the proposed auto body shop will be offering warranties on its service.In which section of the business plan should the investor look?
A) product
B) appendices
C) sales and promotion
D) company profile and strategy
E) market analysis
Q3) Once a business has been operating for more than a year,it makes little sense to write a business plan if one has not been previously written.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
Chapter 19: Business Communications
Available Study Resources on Quizplus for this Chatper
29 Verified Questions
29 Flashcards
Source URL: https://quizplus.com/quiz/40169
Sample Questions
Q1) Like exchanging e-mails and attachments,there are timing and version issues to contend with when using wikis,making it difficult to use them in a team setting.
A)True
B)False
Q2) E-mail is a highly useful tool in business communication; however,it can cause problems in the workplace.Discuss some of these problems.
Q3) What are some of the advantages of videoconferencing for business communications?
Q4) What is the complement to good oral communication skills?
A) repetition
B) clarification
C) active listening skills
D) passive listening skills
E) volume
Q5) You may not know what software the recipient of your e-mail has; therefore,if you are sending an attachment you should not send it in PDF format.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 22
Chapter 20: Finding a Job
Available Study Resources on Quizplus for this Chatper
27 Verified Questions
27 Flashcards
Source URL: https://quizplus.com/quiz/40171
Sample Questions
Q1) There are two main types of resumes: ________.
A) short and long
B) essay and outline
C) chronological and functional
D) curriculum vitae and marketing summaries
E) experience and accomplishments
Q2) What is a chronological resume and when is it the appropriate?
Q3) During the course of the interview,it is BEST to ________.
A) avoid direct eye contact
B) speak quickly
C) ask questions that could be answered in company literature
D) be confident
E) don't ask for clarification on questions
Q4) Which of the following should you NOT bring to an interview?
A) directions
B) cell phone
C) references
D) portfolio
E) exam copies
Q5) What are three ways the Internet can be helpful in searching for a job?
Page 23
To view all questions and flashcards with answers, click on the resource link above.
Chapter 21: Personal Finance
Available Study Resources on Quizplus for this Chatper
33 Verified Questions
33 Flashcards
Source URL: https://quizplus.com/quiz/40173
Sample Questions
Q1) It is not at all necessary to revisit a financial plan periodically.
A)True
B)False
Q2) An arrangement that pays for a hospital stay is ________ insurance.
A) car
B) health
C) disability
D) life
E) homeowner's
Q3) Monthly student loan payments are an example of a(n)________ expense.
A) variable
B) unexpected
C) invisible
D) fixed
E) periodic
Q4) How can online resources and software help with money management?
Q5) Disability insurance protects your home and the contents inside.
A)True
B)False
Q6) What is compound interest?
To view all questions and flashcards with answers, click on the resource link above. Page 24