BML Semester Exam 6: Question Preview (ID: 12062)

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A government agency that helps small business owners develop business plans and obtain financing and other support for their companies.
a) Small Company Association
b) Standard Business Association
c) None of these
d) Small Business Administration

A business owned and controlled by two or more people who have entered into a written agreement.
a) Corporation
b) Partnership
c) Proprietorship
d) None of these

Which function of management is responsible for identifying and arranging the work and resources needed to achieve the goals that have been set?
a) Planning
b) Staffing
c) Organizing
d) Controlling

Safety standards are regulated and enforced by which of the following agencies?
a) Occupational Safety and Health Administration (OSHA)
b) Environmental Protection Agency (EPA)
c) Americans with Disabilities Act (ADA)
d) Age Discrimination in Employment Act

Which of the following is NOT one of the four main elements of the international business environment?
a) Geography
b) Economics
c) Quotas
d) Culture

What type of economy does the US have?
a) command
b) market
c) traditional
d) piggy

Which of these is not a type of intellectual property protection?
a) tariff
b) patent
c) copyright
d) trademark

Under Wickard v. Filburn, economic activity that is entirely intrastate can be regulated by Congress under the
a) supremacy clause.
b) cumulative effects doctrine.
c) res ipsa loquitor theory.
d) Geneva Convention

Using the same strategy to market a product or service in every national market is
a) clone strategy.
b) universal strategy.
c) global strategy.
d) multinational strategy.

Which of these is not one of the classifications of producers?
a) farmer
b) consumer
c) extractor
d) manufacturer

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