Sample Exam Questions for UNI192

A(n) ____________ is a framework of how a business intends to generate revenue.

• competitive advantage

• profitability analysis

• entrepreneurial mindset

• business model

• strategic management tool

Profit refers to the money the company brings in through the sale of goods and services.

• True

• False

Which of the following BEST describes a negative balance of trade?

• The value of a country's exports exceeds the value of its imports.

• The amount of money flowing out of the country exceeds the amount of money flowing into the country.

• The value of a country's currency has depreciated over time against the currencies of other countries.

• The value of a country's imports exceeds the value of its exports.

• The amount of money flowing into the country exceeds the amount of money flowing out of the country.

Mary believes that there are many consumers who would like pizza delivery companies to deliver movies and popcorn along with their pizza. Juliette is looking at what type of​ market?

• Established

• New

• Franchise

• Niche

________ is the term used to describe the difference between revenue and expenses.

• Sales

• Owner's equity

• Profit

• Economies of scale

We watched a video of Steve Jobs talking about marketing in Apple. According to what Steve Jobs tells in that video, although marketing may be related to many things, it is essentially about ____________. So, Apple used that essence in their commercial that we watched in that video.

• making good products like iPhone, iPad, iPod, and Mac

• pricing the products appropriately

• distribution of products worldwide

• values of the company such as believing that people with passion can change the world for the better

Which ethical norm considers whether an act is consistent with​ people's responsibilities to each​ other?

• Utility

• Justice

• Fair trade

• Caring

One of the primary advantages of purchasing a franchise rather than starting a business from scratch is that a franchise offers​ _______.

• retention of all profits earned by the franchise

• a​ proven business opportunity

• low​ start-up costs

• capital financing

One disadvantage of​ ________ is double taxation.

• corporations

• partnerships

• sole proprietorships

• operations

Last​ year, a Pacific Island nation imported over​ $3.2 billion of goods and reported a trade surplus. This would suggest that the nation had​ _______.

• a fixed exchange rate system

• a negative balance of trade

• exported less than​ $3.2 billion worth of goods

• exported more than​ $3.2 billion worth of goods