BST 322 / BST322 Introduction to Business (SOPHIA MILESTONE- PASSED) Final Exam Latest 2022

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You passed this Milestone 25 questions were answered correctly. 0 questions were answered incorrectly. 1 Select the item below that is commonly used as collateral by companies when obtaining shor... t term financing. • Accounts payable • Inventory on hand • Common stock • Production supplies CONCEPT Secured Short Term Financing 2 Which of the following is NOT a benefit to increasing the diversity of an organization's workforce? • Hiring pool of potential employees increases • Variety of perspectives on projects • Making accommodations for numerous diverse groups • Recognizing and appreciating the diversity of opinions CONCEPT Workforce Diversity 3 A company created a web page employees can use to access specific internal systems and processes of the organization, such as payroll and time management. Which of the virtual options below does this scenario describe? • WAN • Extranet • LAN • Intranet CONCEPT Virtual Options in Business Today 4 Max wanted to open a pizza and sub restaurant. He compared purchasing a well-known franchise to opening his own restaurant as a small business. Which of the following would be a disadvantage to the franchise option? • Max will have to use the franchise's pizza sauce instead of his family recipe. • Max will have to use his savings and borrow some money to start his business. • Max will have many competitors that offer pizzas and similar Italian fast food. This study source was downloaded by 100000831988016 from CourseHero.com on 03-21-2022 14:18:56 GMT -05:00 https://www.coursehero.com/file/89530813/Introduction-to-Business-SOPHIA-Finalpdf/ • Max will be able to use the business model provided by the franchise. CONCEPT The Small Business Franchise 5 Which of the following exemplifies pull marketing? • Creating and updating a company blog • Mailing coupons to customers • Updating a product's package design • Direct selling at a store location CONCEPT Push and Pull Marketing 6 Which of the following is true about pricing? • Penetration pricing involves setting a high price for a new product to gain market share. • Skimming pricing involves setting a low price to introduce a product and to gain consumer interest. • The need for specialized research and development can increase the price of a product. • Perfect competition can cause a company to price products lower than its competitors. CONCEPT Price 7 Which of the following would NOT be considered a part of the M1 money supply? • Demand deposits • Certificates of deposit • Personal checks • Debit card transactions CONCEPT How Money has Developed over Time 8 Ryan wanted to talk to his supervisor, Beth, about a new idea for managing the inventory at the store. However, he was reluctant to go to Beth since she was not very receptive to new ideas and changes in their department. Which of the following personality traits describes Beth? • High agreeableness This study source was downloaded by 100000831988016 from CourseHero.com on 03-21-2022 14:18:56 GMT -05:00 https://www.coursehero.com/file/89530813/Introduction-to-Business-SOPHIA-Finalpdf/ • High conscientiousness • Low openness • Low extroversion CONCEPT “Big Five” Personality Traits 9 If a new restaurant owner determines that she does not have sufficient funds to open a new location, where does this determination belong in her SWOT analysis? • Threat • Opportunity • Weakness • Strength CONCEPT The Marketing Plan 10 An appliance maker determined many of their competitors were leading the market for one of their products. The company had experienced a continuous loss in sales over the past year. Which of the following phases of the product lifecycle does this illustrate? [Show More]

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