Study Guide for Unit 002
Objective 2.01 and 2.02
1.
Which employee action is a violation of ethical responsibility to customers?
a.
Adam explains why the price of one surfboard is higher than a similar one.
b. Ben cautions potential clients about travel dangers in the Middle East.
c.
Cindy makes false claims about the performance of an electronics product.
d. David arrives late for work at least once a week.
2.
Conner’s Supermarket has a sign posted in the meat department informing shoppers of the potential dangers of eating
raw shellfish. Connor’s is demonstrating ethical responsibility towards: Customers
3.
Business owners must be able to get along with their employees, make customers feel welcome, and maintain a working
relationship with business associates. What skill is this? Human relations skills
4.
The study of moral choices and values is: Ethics
5.
Jessica asks many questions and conducts research when attempting to solve problems related to her business. What
personal characteristic does this represent? Inquisitiveness
6.
The South Shore Grill hosted a dinner with proceeds being donated to help local DECA members attend national
competition. This represents ethical responsibility towards: Community
7. Before selling a new infant car seat, the owner of Rock-A-Bye-Baby demonstrates the correct
installation of the seat. The owner is demonstrating ethical responsibility towards: Customers
8.
Andrea is very adept at using PowerPoint to make presentations to potential investors in her business. She is
demonstrating what kind of skill: Technical Skills
9.
Which skills will help an entrepreneur with record-keeping, inventory, ordering, payroll, and profits? Math skills
10. Entrepreneurs are willing to work until the job is finished. In this respect entrepreneurs are said to be: Persistent
11. Entrepreneurs generally have high expectations for themselves and strive to achieve those expectations. Thus, they are
characterized as: Self-demanding
12. Of the major factors contributing to the success of a small business, which one is affected by the lack of working capital?
Financing
13. There are no coffee shops on Hatteras Island. Mike thinks that a coffee/bagel shop would have commercial value. His idea
is considered a/n: Opportunity
14. Which section of the business plan contains information about the personal and non-personal promotion for the business?
Marketing plan
15. The proposed business organization, including the form of business ownership, is included in which section of the business
plan? Organizational plan
16. Product development and channels of distribution are included in which section of the business plan? Operational plan
17. Dillon’s Corner sponsored a raffle to help raise funds for a new school press box. This represents ethical responsibility
towards: Community
Study Guide for Unit 002
18. A business owner attempts to enforce a certain level of acceptable behavior for those who represent the business by
creating a: Code of Ethics
19. Businesses can demonstrate ethical responsibility towards customers by:
A Assigning work schedules fairly.
B Contributing money to charities.
C Donating products to school raffles.
D Representing the merits of products truthfully.
20. The inability to interpret financial records demonstrates a lack of: Competence of the entrepreneur
21. A business plan can provide an entrepreneur with a start-up: Blueprint
22. Which section of the business plan discusses the personal qualifications of the entrepreneur? Management Team Plan
23. Plans for future expansion of the business are included in which section of the business plan? Growth plan
24. Why does an entrepreneur need persistence? Because it helps them in pursuing goals and overcoming obstacles.
25. Which characteristic enables an entrepreneur to set his/her own agenda and schedule? Independent
26. Entrepreneurs are doers as opposed to spectators. They make decisions and act on them is what characteristic? Actionoriented
27. Why does an entrepreneur need basic business skills? Because they need to stay abreast of issues in the economy and
the business world.
28. Why are human relations skills important? They need skills to get along with people so that they can get the cooperation
needed and persuade others to their way of thinking.
29. What skill calls for logical and creative solutions? Problem-solving and decision-making skills
30. What skill is needed to help make initial purchase decisions, calculate potential profit and to put together financial
statements? Math skills
31. Andrew has been working for a company for 5 years as a loan officer. He has done everything that position can offer and
has become very bored with knowing there is no opportunity for promotion insight. What characteristic does he possess?
Restless
32. Which characteristic conducts research and ask questions to solve problems? Inquisitive
33. Define entrepreneur? One who takes the risk with creating, organizing and owning a business.
34. Define Manager? An employee who coordinates, people, processes, and other resources of a business in order for the
business to achieve success and make a profit.
Study Guide for Unit 002