PBMF Final Exam Practice (Quizizz)

A _________ is a legal agreement between two or more people and is the least common form of business.

• Franchise

• Partnership

• Sole proprietorship

• Corporation

Which of the following services takes money out of your account at the time a purchase is made?  

• Debit card

• Credit card

• Gift card

• Rewards card

Which of the following is NOT one of the four basic organizational levels?    

• Supervisors

• Middle managers

• Top management

• Lower managers

Which of the following lists each part of the business cycle?   

• Peak, Downhill, Pit, Expansion

• Rise, Fall, Fallout, Resolution

• Peak, Recession, Trough, Expansion

• Peak, Recession, Pit, Explosion

Sometimes people in business will encounter a complex situation in which they have difficulty choosing between a moral and an immoral act. Which of the following terms can be used to describe such a situation?    

• Unethical conduct

• Unlawful conduct

• Legal behavior

• Ethical dilemma

Which of the following correctly lists the three branches of government?  

• Executive, legislative and judicial

• Judicial, administrative and sheriff’s

• Administrative, legislative and sheriff’s

• Executive, statutory and administrative

An economic system in which there is increased government involvement where the goal is to keep prices low and provide jobs for everyone is known as which of the following?   

• Capitalism

• Socialism

• Communism

• Free enterprise

Private enterprise system is an economic system where individuals and private companies, rather than the government, own and control the means of production allowing them to operate with minimal interference. What is another name for private enterprise system?   

• Fascism

• Socialism

• Capitalism

• Communism

Monopolistic competition refers to a market structure where many firms compete against each other when selling similar, but slightly differentiated products.   

• True

• False

Which of the following accurately defines embargo?   

• A special tax placed on foreign goods sold in the U.S.

• A method used to stop the shipment of certain products to or from particular countries

• A packing and shipping regulation for hazardous products

• A fixed limit on the amount of import or export of a product