Which of the following is used as an indicator of a nation"s economic wealth?
a TQM chart
number of new business start-ups each year
The failure rate for non franchised businesses is higher than the failure rate for franchised businesses.
Offering employees the chance to purchase stock has been shown to increase productivity.
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
the number of similar products that will be bought at a given time at a given price
the price at which a product will sell most readily
the most competitive price for a product
Over half of all businesses fail within the first three years.
Commercial businesses engage in producing things.
In the United States, starting a small business
is subject to many government controls
is fairly easy
requires a physical facility
entails a large initial investmen
The quantity of products produced within a given time is known as
A profit-sharing program
raises worker productivity
raises funds for the company
always lowers overall profits
has no effect on effectiveness
What type of business produces goods that other businesses use to make things?
An example of the underground economy occurs when a parent gives a child $3 for doing a household chore.
What is one typical effect of re-engineering?
improved work flow
more production steps
Wholesalers and retailers are classified as industrial types of businesses.
In return for payment of franchise fees, a franchisee is given
exclusive rights to sell the franchised product
a guaranteed profit
complete protection from business failure
The price of a product is determined primarily by
both supply and demand
When workers become empowered, what happens to the quality of their work?
quality remains about the same
none of the responses
The term ‘domestic goods’ refers to products made by firms in other countries.
Activities in the underground economy
are taxed at a lower rate
have decreased in relation to GDP
account for one-third of the GDP
are not taxed
Business owners must be well informed about the production and marketing activities rather than the financial activities of a business.
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