Last Updated 27 Jan 2021
Business Course Quiz
| Question 1
5 out of 5 points |
Entrepreneurs are commonly characterized as: | Correct Answer: | risk-takers and decision-makers. |
| Question 2
5 out of 5 points |
The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the ... | Correct Answer: | production era |
| Question 3
5 out of 5 points |
To be successful entrepreneurs must be comfortable risking their money and _____ to start and manage a business. | Correct Answer: | time |
| Question 4
5 out of 5 points |
In 1995, a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a: | Correct Answer: | tax on imports. |
| Question 5
5 out of 5 points |
The four major categories of factors of production are: | Correct Answer: | natural resources, capital, human resources, and entrepreneurship. |
| Question 6
5 out of 5 points |
In the relationship era, firms began to recognize that cultivating current customers is more profitable than constantly _____ | Correct Answer: | seeking new customers. |
| Question 7
5 out of 5 points |
During the marketing era consumers found: | Correct Answer: | more choices for goods and services. |
| Question 8
5 out of 5 points |
As a factor of production, capital would include: | Correct Answer: | machines, tools, buildings, and technology. |
| Question 9
5 out of 5 points |
Human resources include the | Correct Answer: | physical, intellectual, and creative contributions of individuals working within an economy. |
| Question 10
5 out of 5 points |
_____ refers to the quality and quantity of products and goods available to a population at a given time. | Correct Answer: | Standard of living |
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Business Course Quiz. (2018, May 04). Retrieved from https://phdessay.com/business-course-quiz/