Business Management Final Exam Review - Part 1

Front

The demand for a product refers to the number of similar products that will be offered for sale at a particular time and at a particular price.

Back

false

Front

With mass production, does the cost of goods manufactured increase for each product made?

Back

false

Front

More managers are usually needed when workers are empowered.

Back

false

Front

The success of a business depends greatly on managerial effectiveness.

Back

true

Front

A code of ethics usually includes such issues as bribing government officials and using company property for personal use.

Back

true

Front

A business advances its own interests when it becomes involved socially.

Back

true

Front

The primary incentive for a business to produce goods or services in the U.S. is profit.

Back

true

Front

In a sole proprietorship, creditors have a legal claim to the business’s assets before the owner.

Back

true

Front

Businesses owned by one person usually have enough funds for emergency situations.

Back

false

Front

It is difficult to withdraw from a partnership.

Back

true