What is the main purpose of business?, To entertain people, To produce and sell goods and services for profit, To reduce population, Who is an entrepreneur?, A person who buys only goods, A person who organizes resources and takes risks to start a business, A person who works only in government, Which is a source of business opportunity?, Sleeping, Education and experience, Watching TV only, Which is a form of business ownership?, Friendship, Partnership, Conversation, Which method is used to start a business?, Franchise, Exercise, Vacation, What does planning involve?, Ignoring goals, Setting goals and deciding how to achieve them, Sleeping during work, What is organizing in management?, Creating confusion, Arranging resources and tasks, Avoiding responsibilities, Leading in management refers to:, Motivating and guiding employees, Ignoring employees, Avoiding communication, Controlling means:, Checking performance and correcting problems, Avoiding evaluation, Increasing problems, Which is an example of management skill?, Human skill, Sleeping skill, Gaming skill, What does business ethics refer to?, Rules about cooking, Moral principles in business decisions, Rules of sports, Which is an example of ethical behavior?, Cheating customers, Respecting customers, Ignoring customers, Lifeboat Protocol refers to:, Choosing between options when resources are limited, Cooking food on a boat, Traveling for fun, What is a challenge in Lifeboat Protocol?, Unlimited resources, Limited resources and difficult decisions, No decision needed, What is demand?, Quantity producers sell, Quantity consumers want to buy, Quantity employees work, What happens when price increases?, Demand increases, Demand decreases, Demand stays same always, What is supply?, Quantity producers offer to sell, Quantity consumers buy only, Quantity government controls, What is perfect competition?, One seller only, Many buyers and sellers with similar products, No buyers, What is monopoly?, Many sellers, One seller dominates the market, Many buyers only, What is oligopoly?, Only one seller, Few large firms dominate the market, Many small buyers only.
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