pob exam prep (phil)

what is employment

• Employment is a form of volunteer work.
• Employment is a type of leisure activity.
• Employment is being unemployed and not seeking work.
• Employment is having paid work or being engaged in a job or occupation.

who is an entrepreneur

• A person who organizes and operates a business, taking on financial risks
• A person who invests in the stock market
• A person who works as an employee in a company
• A person who studies entrepreneurship in college

list three characteristics of entrepreneurs

• Innovation, Risk-taking, Determination
• Conservatism
• Creativity
• Procrastination

which one of the following is not a type of leadership

• Transactional leadership
• Laissez-faire leadership
• Autocratic leadership
• Transformational leadership

which one is a disadvantage of bartering

• Lack of standard measure of value
• Requires double coincidence of wants
• Limited to goods and services
• Easy to determine value

which one is not an advantage of bartering

• Lack of a standard measure of value
• No need for a common medium of exchange
• Limited to direct exchange of goods
• Easy to determine value

which one is not a characteristic of money

• Deflation
• Barter system
• Interest rates
• Inflation

which of the following departments is not a function area of a business

• Human Resources
• Operations
• Marketing
• Finance

a major function of the public sector is

• To provide entertainment services
• To increase private sector profits
• To limit access to essential services
• To provide essential services to the public.

What best defines teamwork?

• Individual competition
• Isolation from others
• Lack of communication
• Collaboration towards a shared objective