Question 1

Which of the following is considered a good?
A)Cars
B)Groceries
C)Clothing
D)All of these

Accepted Answer

All of these options (cars, groceries, and clothing) are considered goods because they are tangible items that can be bought and sold.

Question 2

Assume you are in the business of producing and selling t-shirts.If you could produce more t-shirts with the same input, what would happen to your productivity and profits assuming the price of your t-shirts remains the same?
A)Increase in productivity, decrease in profits.
B)Increase in productivity, increase in profits.
C)Decrease in productivity, decrease in profits.
D)Decrease in productivity, increase in profits.

Accepted Answer

If the business is able to produce more t-shirts with the same input, then the productivity of the business would increase as more output is being produced with the same input. This increased productivity would result in increased profits as the business is now able to sell more t-shirts without any additional input costs. Therefore, the correct answer is option B.

Question 3

MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving.What does MIS stand for?
A)Management information strategy.
B)Management intelligence system.
C)Management information system.
D)Management information strategist.

Accepted Answer

MIS stands for Management Information System.

Question 4

Cars, groceries, and clothing belong in which category?
A)Goods
B)Services
C)Production
D)Productivity

Accepted Answer

Cars, groceries, and clothing are tangible items that can be bought and sold, therefore they belong in the category of goods.

Question 5

Teaching, waiting tables, and cutting hair belong in which category?
A)Goods
B)Services
C)Production
D)Productivity

Accepted Answer

Teaching, waiting tables, and cutting hair are all examples of services, which are intangible products that are not physical objects.

Question 6

Assume you are in the business of producing and selling cars.If you could produce more cars with the same input, what would happen to your productivity and profits assuming the price of your cars remains the same?
A)Increase in productivity, decrease in profits.
B)Increase in productivity, increase in profits.
C)Decrease in productivity, decrease in profits.
D)Decrease in productivity, increase in profits.

Accepted Answer

Producing more cars with the same input would increase the productivity of the business. In turn, increased productivity would lower the cost per unit, which means that profits per unit sold would increase. Therefore, the business would experience an increase in profits.

Question 7

Assume you are in the business of producing and selling hamburgers.If you could produce more hamburgers with the same input, what would happen to your productivity and profits assuming the price of your hamburgers remains the same?
A)Increase in productivity, decrease in profits.
B)Increase in productivity, increase in profits.
C)Decrease in productivity, decrease in profits.
D)Decrease in productivity, increase in profits.

Accepted Answer

Producing more hamburgers with the same input would increase productivity, which would result in an increase in profits assuming the price of the hamburgers remain the same. This is because the cost of producing each individual hamburger would decrease, allowing for a larger margin of profit per hamburger.

Question 8

Which of the following is considered a service?
A)Teaching
B)Waiting tables
C)Cutting hair
D)All of these

Accepted Answer

All of these options are considered services as they involve providing a skill or labor to benefit someone else. Teaching involves providing knowledge and instruction, waiting tables involves providing hospitality and serving food, and cutting hair involves providing a professional grooming service.

Question 9

Shelby Black runs a very successful hair salon in downtown Los Angeles.One of Shelby's tasks is to input positive and negative customer reviews into her computer system.What type of information is Shelby gathering?
A)Feedback
B)Processing
C)Output management
D)Sales processing

Accepted Answer

Shelby is gathering feedback in the form of customer reviews.

Question 10

The actual hamburger is included in which category of making a hamburger?
A)Input
B)Process
C)Output
D)All of these

Accepted Answer

The actual hamburger is considered an output because it is the final product resulting from the process of making a hamburger, which involves inputs (ingredients, labor) and processes (cooking, assembling).

Question 11

Cooking a patty and putting the ingredients together are included in which category of making a hamburger?
A)Input
B)Process
C)Output
D)All of these

Accepted Answer

Cooking a patty and assembling the ingredients are part of the process of making a hamburger, which includes all the steps involved in creating a final product. Input refers to the materials and ingredients used, while output is the final product itself. Therefore, option B is the correct choice.

Question 12

What is production?
A)Material items or products that customer's will buy to satisfy a want or need.
B)Tasks performed by people that customer's will buy to satisfy a want or need.
C)The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
D)The rate at which goods and services are produced based upon total output given total inputs.

Accepted Answer

Production refers to the process of converting raw materials into finished products. It is the manufacturing or creation of goods and services to satisfy customer wants or needs.

Question 13

What is productivity?
A)Material items or products that customer's will buy to satisfy a want or need.
B)Tasks performed by people that customer's will buy to satisfy a want or need.
C)The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
D)The rate at which goods and services are produced based upon total output given total inputs.

Accepted Answer

Productivity is the rate at which goods and services are produced based upon total output given total inputs. It measures the efficiency and output of the production process. Choices A and B are referring to products and tasks, but productivity is not the same as those terms. Choice C is partially correct, but productivity includes not only the process of converting raw materials into finished products but also the efficiency of the process.

Question 14

The lettuce, tomatoes, patty, bun, and ketchup are included in which category of making a hamburger?
A)Input
B)Process
C)Output
D)All of these

Accepted Answer

The lettuce, tomatoes, patty, bun, and ketchup are all inputs in the process of making a hamburger. Inputs are the resources or materials that are used to create a product. In this case, the inputs are combined and then undergo a process (such as grilling) to create the final output - a hamburger.

Question 15

Which of the following is considered a good?
A)Milk and eggs
B)Managing a team
C)Selling groceries
D)All of these

Accepted Answer

Milk and eggs are physical items that can be sold or consumed, making them a good according to economic terminology. Managing a team and selling groceries are services and not considered goods.

Question 16

Which of the following is considered a service?
A)Cars
B)Groceries
C)Cutting hair
D)All of these

Accepted Answer

Cutting hair is a service because it involves providing a particular skill or expertise to a client rather than selling a physical product. Cars and groceries, on the other hand, are tangible goods.

Question 17

What are services?
A)Material items or products that customer's will buy to satisfy a want or need.
B)Tasks performed by people that customer's will buy to satisfy a want or need.
C)The process where a business takes raw materials and processes them or converts them into a finished product for its goods or services.
D)The rate at which goods and services are produced based upon total output given total inputs.

Accepted Answer

Services are tasks performed by people that customers will buy to satisfy a want or need.

Question 18

Which four elements are included in systems thinking?
A)Output, process, feedback, and accounting.
B)Process, output, operations, and accounting.
C)Input, process, output, and feedback.
D)Input, output, sales, and feedback.

Accepted Answer

Systems thinking includes the consideration of input (what goes into the system), process (how the input is transformed), output (what comes out of the system), and feedback (information about the system's performance that is used to make adjustments). Option A includes all of these except for input, while Option B includes "operations" instead of feedback. Option D includes "sales" which is not one of the core elements of systems thinking.

Question 19

Which of the following is considered a service?
A)Selling groceries
B)Managing a team
C)Cutting hair
D)All of these

Accepted Answer

All of these options are considered services because they involve providing intangible benefits or assistance to customers or clients, rather than selling physical goods.

Question 20

Which of the following is considered a good?
A)Cars
B)Teaching
C)Waiting tables
D)All of these

Accepted Answer

Goods are physical products that can be touched, seen, and purchased. Cars are physical products and therefore, they are considered goods. Teaching and waiting tables are services, which are intangible and cannot be touched or seen, and thus not considered goods.

Quiz 1: Business Driven Technology

Which of the following is considered a good?

Assume you are in the business of producing and selling t-shirts.If you could produce more t-shirts with the same input, what would happen to your productivity and profits assuming the price of your t-shirts remains the same?

MIS is a business function, like accounting or sales, which moves information about people, products, and processes across the company to facilitate decision making and problem solving.What does MIS stand for?

Cars, groceries, and clothing belong in which category?

Teaching, waiting tables, and cutting hair belong in which category?

Assume you are in the business of producing and selling cars.If you could produce more cars with the same input, what would happen to your productivity and profits assuming the price of your cars remains the same?

Assume you are in the business of producing and selling hamburgers.If you could produce more hamburgers with the same input, what would happen to your productivity and profits assuming the price of your hamburgers remains the same?

Which of the following is considered a service?

Shelby Black runs a very successful hair salon in downtown Los Angeles.One of Shelby's tasks is to input positive and negative customer reviews into her computer system.What type of information is Shelby gathering?

The actual hamburger is included in which category of making a hamburger?

Cooking a patty and putting the ingredients together are included in which category of making a hamburger?

What is production?

What is productivity?

The lettuce, tomatoes, patty, bun, and ketchup are included in which category of making a hamburger?

Which of the following is considered a good?

Which of the following is considered a service?

What are services?

Which four elements are included in systems thinking?

Which of the following is considered a service?

Which of the following is considered a good?