Business Management Spring Final Exam Review #5: Question Preview (ID: 15314)

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The Motivation Theory that believes people are influenced by 1 of 3 needs is called:
a) Maslow's Hierarchy of Needs b) McClelland's Achievement Motivation c) Herzberg's Two-Factor Theory d)
The standard that deals with how long it takes to perform/complete a certain task is called:
a) Time b) Quantity c) Quality d) Cost
The most important standard for a business is normally:
a) Time b) Quantity c) Quality d) Cost
How do you decide when and how to develop a new product?
a) When you have an idea that consumers want to buy b) When you can turn an idea into a workable product design c) When you can produce and sell the product for a price customers can and are willing to buy d) All of these
A basic product is a product that:
a) Offers different options and features for the consumer b) Includes additional features that are not part of the physical product but increases its usability c) Is in its simplest form d)
A warranty is:
a) A promise from a products’ company b) A statement from the seller about the product’s quality of performance c) An assurance from the seller that a product will perform to your satisfaction for a certain perio d)
A short path in a channel of distribution means:
a) The product goes the simplest way from producer to the customer b) The process goes from the producer to a wholesaler to the customer c) Demonstrating the product at a wholesale establishment d)
A reason that businesses advertise is to:
a) Inform and educate consumers b) Introduce new products c) Both of these d)
When thinking about making changes, it is necessary to make sure the business will be better off for the change.
a) True b) False c) d)
One way to control costs is to offer employees health and wellness benefits.
a) True b) False c) d)
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