bus 1

only for accountsguru

Introduction to Business
R.D. Skidmore

Test #1

Introduction to Business
Name:
     

Business one
Class Section:
     

Instructor: R.D. Skidmore
Score:

TEST #1

INSTRUCTIONS:

This test is prepared as a Microsoft Word document using Microsoft Word 97 and will function best using that or a newer Microsoft Word version.

Time: This test should take you no more than 90 minutes to complete.

First, PRINT this test on your printer. If you need to make adjustments, you will have a copy of it to make those adjustments.

Type your Name and your Class Section Number in the above spaces.

This test covers Chapters 1-4, Lecture Guide Weeks 1-3, and The Magic of Thinking Big by D. Schwartz.

Below is Test #1. This
TEST is DUE by 6:45 pm on the Thursday of Week 4
. IT WILL NOT BE ACCEPTED LATE. There are a total of five questions for you to answer. You ARE to type your answers below each question. (The test will lengthen as you type.) Your answers may appear in color to be blue.

This test and answers are to be emailed to your instructor as an attached file.

When submitting your test, first save it with your name (Last name_First Name), Test1 and your section number in this format:

Last Name_First Name_Test1_Section Number

Then you will submit your completed test as an attached file to me via email at:

skidmore_rd@piercecollege.edu

The Test answers are to be typed on these pages and saved as a WORD file. FAILURE to present test as required will cause it NOT TO BE GRADED.

LATE TESTS WILL NOT BE ACCEPTED.

Failure to submit the test on time will cause it to not be graded.

This test has a test value of 100 points. Each question is awarded 20 points. Some questions have multiple parts to the question, so be certain that you answer each part of each question (answer each question completely). Partial credit is given for each question

Hint: You may want to write your answers in word and then past them into the answer box provided under each question.

You will receive your score on this test with the progress report of Week #5.

Test #1

Instructions: Answer each question completely. However do not think that you are writing a novella. When answering each question, you will want to properly formulate your answer; possibly use an outline and then fill in your outline with cogent thoughts, sentence structure and punctuation. Write your answers as if you are writing to someone who has never read what you have read.
Use examples from the textural material…quote examples from the text, Lecture Guide and the Magic of Thinking Big, and cite the chapter and page numbers,
remembering that the one who grades your answers has read this material and Magic.
Remember to cite the chapter and page numbers- refer to the APA manual for assistance.
When you have completed your test email it to your course instructor as an attached file.

1.
Describe macroeconomics and microeconomics and explain the difference between the two. Then compare and contrast between planned and mixed market economic systems.

ANSWER:

2.
Discuss competition, the entrepreneur and their role in a private enterprise system; outline the historical development of the U.S. economy and its influences to contemporary business.

ANSWER:

3.
From the Burkett article (Lecture Guide W 2-42); When the decision to print unsupported money is made, the currency is devalued. What was the immediate effect for German exports and on debt? What word describes the cause and effect? What happens to a lenders equity when currency is devalued? When debt is held by foreigners (governments and people), and the monetary policy has been to print money, a borrowing government is eventually faced with what three basic choices?

ANSWER:

4.
Explain the advantages and disadvantages of small business. Identify the advantages and disadvantages of franchising. Discuss the small-business opportunities for minorities and women.

ANSWER:

5.
From the Magic of Thinking Big the author introduces the concepts of “success of belief”, “excusitis” and “Creative thinking and the Action habit.” You are to define each separately, explain their importance using examples from the text, and when discussing ‘excustis’ define it and explain how you personally have used it.

ANSWER:

Page 3 of 3