business

What business function is responsible for making sure that organizational strategies and goals are aligned with staffing plans?

• operations

• marketing/sales

• finance

• management

A function is responsible for aligning products and services to customer needs. Which function is driving this alignment?

• management

• operations

• finance

• marketing/sales

When an entrepreneur owns and runs a business, they assume risks that are offset by the potential of:

• helping the community

• becoming famous

• providing a service

• earning profit

Resources that can be used to produce other goods and services and have been produced are:

• labor

• capital

• human resource

• natural resource

What function is responsible for ensuring that products and services which are produced or provided meet high quality standards?

• operations

• management

• finance

• marketing

A business collects demographic information about what potential and current customers purchase, where they live, and how they spend their time. This business is responding to the:

• economic environment

• social environment

The equation for balance of trade is:

• value of exports − value of imports.

• value of imports − cost of tariffs.

• assets − liabilities.

• value of imports − value of exports.

When more goods and services are exported than imported it is known as a:

• trade deficit

• balance of trade

• trade imbalance

• trade surplus

Trade tariffs and quotas are designed to protect:

• foreign aid

• international trade

• foreign producers

• domestic producers

The combined political and economic forces of a country are known as:

• economic freedom

• political economy

• economic freedom

• economic liberties