REVISION

1 In ______ terms, a market is not a place, but a process which is a result of human actions.
A economic B economy C economical D economist
2 We've sent them our final offer, so now ______.
A the ball’s in their court B the decision’s their hands
C the basket in their house D the ball’s in their hand
3 An increase in the _____ is currently leading to calls for greater investment in food production.
A global population B global people C around the world people D world population
4 Higher broadband speeds _____ a big increase in online distance-learning courses.
A lead to B leads to C causes from D result from
5 _____ or base salary is the initial rate of compensation that you receive as an employee in exchange for
your services.
A Base pay B Basic pay C Base payment D Base wage
6 Increasing the _____ is of prime importance for the management of a company as this can make the
company and management better.
A shareholder dividend B shareholder value C shareholder money D shareholder meeting
7 Entrepreneurs in large organization are referred to as _____.
A intrapreneurs B boardrooms C subsidiaries D branches
8 A business has to be evolving, it has to be fun and it has to exercise your _____.
A creativity instincts B creative instincts C creative views D creativity roles
9 Having a _____ helps you to feel in control of your future money.
A budget B bank account C profit and loss account D balance sheet
10 We have a _____ of sharing, a lot of friendliness, warm welcomes, exceptionally free from politics.
A atmosphere B culture C challenge D reward
11 A natural monopoly exists __________ for one producer than it would be if there were many producers.
A when the cost of producing a product or service is higher
B when the cost of producing a product or service is lower
C when the cost of producing a product or service is stable
D when the cost of producing a product or service is fixed

12. A monopoly is where __________.

A one producer cannot launch a good or service
B one producer cannot control the supply of a good or service
C one producer cannot control the demand of a good or service
D one producer controls the supply of a good or service
13. An oligopoly is where __________ who do not necessarily act together, but can effectively
control the supply and thus the price of a product.
A consumers are few in number B suppliers are few in number
C suppliers are a lot in number D producers are a lot in number
14. We’ve arranged to have lunch first and then ___ the meeting after that.
A touch base B basic touch C kick off D kick on
15. That’s a good idea. Let’s _____ on that tomorrow.
A touch base B kick off C score an own goal D kick off
16. If we’re not careful here, we’ll ____.
A score an own target B score an own goal
C take it on the chin D take it in the chin
17. The subject of _____ will remain very high on the agenda.
A CO2 emissions B CO2 production C CO2 release D CO2 provision
18 We want to reduce the _____ of maintaining and the cost of maintaining our outdated desktop
environment.
A dividends B risks C fees D commissions
19 _____ allows the employees of the firm to share in the profits via appreciation and can encourage retention,
particularly if there are vesting requirements.
A Salary-based awards B Equity-based reward
C Equity- based awards D Both A and B are correct
20 ____ is impacted by how many new customers are acquired, and how many existing customers churn - by
canceling their subscription, not returning to buy, or closing a contract.
A Customer attraction B Customer gap C Customer keeping D Customer retention
21 The _____ will be continuously evaluated and revised as needed to ensure that the intended
objectives are met.
A compensation program B compensative program
C competitive program D competition program
22 A number of commentators have found it convenient to distinguish between creative people,
creative process, creative places and _____.
A creative strategies B creative motivation C creative products D creative teams
23 Creativity is about the _____ of originality that leads to new ways of seeing and new ideas.
A quantity B quantifiers C qualifications D quality
24 Verbal communication skills are highly ranked on the candidate evaluation checklists used by many
_____.
A job interviewers B job interviews C job applicants D job directors
25 Nothing seems to be able to stand in their ways _____ obstacles and challenges.
A by the way B according to C in terms of D on the other hand
26 The _____ has made their efforts to achieve the targets set by the company.
A HR department B Purchasing department C Selling department D Sales department
27 We are a family-owned, international pharmaceutical company with several _____ companies.
A associate B subsidy C branch D representing
28 An _____ helps you track and sort the various expenses your business has during a time period.
A cost account B expense account C financing account D liabilities account
29 In designing a reward program, a small business owner needs to separate the salary or _____ from the
reward system.
A remuneration system B payment system C merit pay system D benefit pay system
30 It’s hard to accept, but sometimes we just have to ____.
A touch base B kick off C score an own goal D take it on the chin
31 Globalization is the worldwide movement towards economic, financial, trade and communications _______.
A integration B merger C acquisition D combination
32 New business acquisitions _______ 54% of that growth.
A provided for B accounted for C set towards D supplied with
33 The Group is still ______ today, pushing ahead on three fronts- expanding in emerging countries,
consolidating certain business lines and stepping up its investment in R&D.
A moved towards B on the moving C on the move D in the movements
34 Why do people tend to talk about _____ topics at these stages of meetings?
A business relating B business relative C non-business relative D non-business related
35 Globalisation is __________ towards economic, financial, trade and communications integration including
the unhindered transfer of capital, goods and services across borders.
A the worldwide movement B the nationwide movement
C the localised movement D the internal movement
36 It is possible to __________ closer to the perfectly competitive ideal and the way to do that
might be to reduce entry barriers, for example, and make it easier for firms to compete.
A bring markets B launch markets C put markets D add markets
37 A merger refers to an agreement in which __________.
A two companies coordinate together to form one company
B one company buys another company
C no more than two companies join together to form one company
D two companies join together to form one company
38 If a company or business person makes an acquisition, they __________.
A buy another company or part of a company
B purchase another company or part of a company
C take over the control of another company
D A, B and C are correct.
39 The transfer of ownership, property or business __________ is termed privatization.
A from the private sector to the government
B from the government to the private sector
C from the private sector to the public sector
D from the government to the global sector
40 Nationalization refers to the action of a __________, which generally occurs without
compensation for the loss of the net worth of seized assets and potential income.
A government taking control of a company or industry
B government borrowing money into a company or industry
C government merging with a company or industry
D government forcing a company or industry
41 Perfect competition is an industry structure in which there are many firms producing homogeneous
products and __________ are large enough to influence the industry.
A one of the firm B several of the firms C all of the firms D none of the firms
42 A large number of sales of these products in many countries in the world are made through large _____.
A supermarket chains B supermarket variety
C supermarket core D supermarket lines
43 _____ is the direct influence on the effect on an individual who gets encouraged to follow their peers by
changing their attitudes, and values to conform to those of the influencing group.
A Job pressure B Peer pressure C Logical pressure D Team pressure
44 _____ is concerned not with playing with the existing pieces but with seeking to change those very pieces.
A Convergence thinking B Imaginative thinking C Lateral thinking D Divergence thinking
45 In most Asian countries, average household _____ are increasingly significant.
A returns B expenditure C incomes D turnover
46 The global consumer goods industry is used to describe those manufacturers and retailers involved in
making and selling a wide range of _____.
A consumer services B consumer products
C manufacturer’s production D retailers’ after-sale service
47 They might even consider selling direct to the consumer _____ their own websites.
A by B for C via D through
48 It’s a much longer _____ than with other highly technological products like mobile phones.
A lead time B leading time C leader’s time D leading period
49 The online _____ and e-marketing consultancies would benefit as more people spend time and money
online on mobile devices.
A wholesale industry B retailer industry C manufacturing industry D advertising industry
50 _____ play an important role in the operation of many businesses, supervising and managing workers on a
daily basis and acting as a liaison between employees and upper management
A Chief executive B Managing director C Board of directors D Line managers
51 _____ is a system of shared assumptions, values, and beliefs, which governs how people behave in organizations.
A Organizational culture B Organizational structure
C Organizational diagram D Organizational board
52 Something we need to work forward to is improving _____ of the technician team.
A the altitude B the attitude C the moral D the customs
53 __________ is a business tool that analyses the social, technological, economic, environmental and political/ legal
aspects.
A STEEP Analysis B STEEP Analysts C SWOT Analysts D STEP Analysis
54 The __________ includes the cultural background of customers, percentage of the population in different income
categories, value systems for the different social classes, birth and death rates.
A technological category B economic category C social/ socio-cultural category D political category
55 The __________ includes patents, research and development budgets, the pace of technological change and
bandwidth capacity.
A economic category B technological category
C political category D social/ socio-cultural category
56 The advantage of _____ is that you get more effort.
A payment by input B payment by output
C payment by base salary D payment by production lines
57 Short-term cash incentives continue to be popular motivational tools at U.S. _____ companies.
A privately own B subsidiaries C privately owned D subsidy
58 The term “_____” refers to an accounting metric measuring the profits a company generates from its core
business functions, where the deduction of interest and taxes is excluded from the calculation
A investing profit B financing profit C shareholders’ profit D operating profit
59 _____ managers tend to take a pessimistic view of their people, and assume that they are naturally
unmotivated and dislike work.
A Theory X B Theory Y
C Both Theory X and Theory Y D Neither Theory X nor Theory Y
60 _____ Theory Y organizations also give employees frequent opportunities for promotion.
A Theory X B Theory Y
C Both Theory X and Theory Y D Neither Theory X nor Theory Y
61 _____ is one of the main statements in addition to balance sheet, and income statement.
A Cash flow statement B Funds flow statement C Both A and B D Neither A nor B
62 _____ is also called Profit and Loss account
A Balance sheet B Income statement C Cash flow statement D Statement income
63 The __________ includes the rate of economic growth, the inflation rate, the exchange rate, the interest rate, the
availability of capital for small businesses and a country’s balance of payment.
A technological category B political category C social/ socio-cultural category D economic category
64 The __________ includes air and water quality, the level of environment regulation and the source of energy.
A environmental category B social/ socio-cultural category
C technological category D political category
65 The task of the manager is to encourage and _____ multi-disciplinary teams working on product development
and drive these processes along.
A forced B cooperate C compete D coordinate
66 Creative thinking techniques include _____, lateral thinking, and parallel thinking.
A brainstorming B consolidating C gathering D separating
67 A major part of decision-making involves the analysis of alternatives with _____ which may have benefits or costs.
A evaluative view B evaluative criteria C evaluative creation D evaluative opinion
68 The __________ includes factors such as the policies of political parties, activism of government agencies, ability to
influence political decision, decision-making structures in countries, public opinion and acts of terrorism.
A technological category B political/ legal category
C social/ socio-cultural category D environmental category
69 __________ will affect the supply and demand of goods and services within an economy.
A Changes in the structure of people B Changes in the structure of a population
C Stability in the structure of a population D Changes in the structure of board of directors
70 A STEEP analysis is a commonly used tool in business that companies and organizations use to __________ of their wide
macro-environment.
A make sense B make profitability C make money D make meanings
71 __________ is in the organization where individuals are encouraged to express themselves fully.
A Person culture B Power culture C Role culture D Task culture
72 __________ is in the organization where individuals are allowed to make decisions.
A Power culture B Role culture C Task culture D Person culture
73 __________ is more commonly found in small businesses.
A Person culture B Role culture C Power culture D Task culture
74 __________ is often found in large hierarchical organizations, where each individual has a clearly
specified function to perform.
A Task culture B Role culture C person culture D Power culture
75 In a __________, employees often work to their job description and they tend to follow the rules rather
than be creative.
A role culture organization B task culture organization
C person culture organization D power culture organization
76 __________ give powers to the teams to make decisions.
A Role culture B Task culture C Person culture D Power culture
77 __________ produces a distinct level of creativity.
A Task culture B Role culture C Person culture D Power culture
78 __________ is job or project orientated characterized by high levels of cooperation and fast decision-
making.
A Person culture B Power culture C Task culture D Role culture
79 __________ is highly suited to stable environments.
A Task culture organization B Role culture organization
C Person culture organization D Power culture organization
80 __________ is believed to be poor at implementing change and adapting to a fast-changing macro-
environment.
A An organization with a role culture B An organization with a task culture
C An organization with a person culture D An organization with a power culture