Economic Objectives of Business Quiz
18 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to Lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are some indicators of business growth as mentioned in the text?

  • Decrease in sales volume and product range contraction
  • Increase in employee count and capital investment (correct)
  • Lowering of costs and reduction in workforce
  • Minimal capital investment and employee downsizing

Why is profit important for a business, based on the text?

  • It decreases employee count
  • It reduces the need for social responsibility
  • It limits the growth opportunities
  • It helps cover costs and risks (correct)

What is a key element of fulfilling social responsibility according to the text?

  • Providing employment opportunities to underprivileged sections (correct)
  • Using unethical production methods
  • Reducing basic amenities for the community
  • Ignoring environmental concerns

Why should management focus on the organization's survival according to the text?

<p>To earn enough revenues to cover costs (B)</p> Signup and view all the answers

What purpose do personnel objectives serve within an organization based on the text?

<p>They help individuals satisfy diverse needs (D)</p> Signup and view all the answers

How can a company demonstrate its commitment to social responsibility according to the text?

<p>By using environmentally friendly production methods (B)</p> Signup and view all the answers

What is one of the higher-level needs mentioned in the text?

<p>Peer recognition (D)</p> Signup and view all the answers

How does management contribute to achieving personal objectives?

<p>By motivating and leading teams (D)</p> Signup and view all the answers

What is one way management contributes to business growth?

<p>By facilitating adaptation to new environments (A)</p> Signup and view all the answers

How does management assist in achieving group goals?

<p>By giving a common direction to individual efforts (A)</p> Signup and view all the answers

Which aspect of management helps in the development of society according to the text?

<p>Serving multiple objectives of an organization (B)</p> Signup and view all the answers

What is an important financial need mentioned in the text?

<p>High salary (A)</p> Signup and view all the answers

What is the primary task of management according to the text?

<p>Mitigating weaknesses and strengths of the organization (C)</p> Signup and view all the answers

Which of the following functions is NOT part of the continuous process of management described in the text?

<p>Quality control (D)</p> Signup and view all the answers

Why is management considered a group activity according to the text?

<p>To facilitate growth and development of all members towards common goals (D)</p> Signup and view all the answers

Which aspect does the management of operations primarily involve in an organization?

<p>Providing the basic product or service for survival (B)</p> Signup and view all the answers

How do managers ensure personnel objectives are met according to the text?

<p>By promoting individual growth and development as needs change (C)</p> Signup and view all the answers

In what way does management contribute to business growth as discussed in the text?

<p>By promoting teamwork and coordination to achieve common organizational goals (A)</p> Signup and view all the answers

More Like This

Economics Week 4 Test
13 questions

Economics Week 4 Test

SkilledTheremin1564 avatar
SkilledTheremin1564
Objetivos y Beneficios Empresariales
16 questions
Pricing Strategies and Objectives
23 questions
Use Quizgecko on...
Browser
Browser