Intro to Business Jeopardy!!!!

Chapter 5Chapter 6Chapter 7Chapter 8Hodgepodge Right Side of Room CenterLeft Side of Room Final Jeopardy

Question: Chapter Points Written contract granting permission to operate a business to sell products and services in a set way

Answer: Chapter Points What is a Franchise

Question: Chapter Points Short, specific written report of the reason a business exists and what it wants to achieve

Answer: Chapter Points What is a Mission statement

Question: Chapter Points Agreement and layout of what each person will do and who will have authority over others

Answer: Chapter Points What is Organizational structure

Question: Chapter Points There are three types of business ownership. Name all of them

Answer: Chapter Points What is Proprietorship, Partnership, and Corporation

Question: Chapter Points Businesses involved in selling the goods and services of producers to consumers

Answer: Chapter Points What are Intermediaries

Question: Chapter Points Someone who takes a risk in starting a business

Answer: Chapter Points Who is an Entrepreneur

Question: Chapter Points Written description of the business idea and how it will be carried out

Answer: Chapter Points What is a Business Plan

Question: Chapter Points List at least three traits of successful entrepreneurs

Answer: Chapter Points What are Competitive, creative, energetic, goal oriented, independent, inquisitive, persistent, reliable, self-confadent

Question: Chapter Points Ability to motivate individuals and groups to accomplish goals

Answer: Chapter Points What is leadership

Question: Chapter Points (Listed in detail in Ch 7) Name 2 ways to improve leadership skills

Answer: Chapter Points What are Take classes, work with a leader, practice, read, etc.

Question: Chapter Points Process of accomplishing the goals of an organization through the effective use of people and other resources

Answer: Chapter Points What is management

Question: Chapter Points Name and explain one of the four management styles

Answer: Chapter Points What is 1.Autocratic: Dictator 2.Democratic: Get others input 3.Free Rein: Trust others 4.Situational: Alter based on what is happening

Question: Chapter Points If a manager is respected because of their position they have what kind of influence

Answer: Chapter Points What is Formal influence

Question: Chapter Points There is 4 management levels, what are the two center ones often called

Answer: Chapter Points What is Middle Management

Question: Chapter Points Managers have 5 functions, list 2 of them

Answer: Chapter Points What is Planning, organizing, staffing, coordinating, controlling

Question: Chapter Points All people 16 and older that are employed or are looking for work

Answer: Chapter Points What is the Workforce

Question: Chapter Points Removing work from one area/company and sending to another

Answer: Chapter Points What is Outsourcing

Question: Chapter Points Environment in which people work, made up of atmosphere, behaviors, beliefs, and relationships

Answer: Chapter Points What is Organizational Culture

Question: Chapter Points Human resources have seven goals, name 2 of them

Answer: Chapter Points What is ID personnel needs, maintain supply of people, match abilities with jobs, train and develop, develop plans to compensate, protect health of employees, maintain productive and satisfying work environment

Question: Chapter Points There are 7 protected groups from employment discrimination, name 2 of them

Answer: Chapter Points What is Race, religion, national origin, disability, pregnancy, sex, age

Question: Hodgepodge 100 Points What is Michigan's minimum wage

Answer: Hodgepodge 100 Points What is $8.15 Federal is $7.25 – have to be paid higher of the two

Question: Hodgepodge 200 Points Principles of conduct governing an individual or group

Answer: Hodgepodge 200 Points What is a Code of Ethics

Question: Hodgepodge 300 Points Name 2 benefits you may receive from a job besides pay and experience

Answer: Hodgepodge 300 Points What is Insurance, retirement, car, phone, clothing, travel, child care, etc.

Question: Hodgepodge 400 Points If you make 9 dollars an hour how much would you make each hour of overtime

Answer: Hodgepodge 400 Points What is $13.50

Question: Hodgepodge 500 Points There are 6 basic business activities. List 2 of them

Answer: Hodgepodge 500 Points What is Generate ideas, raise capital, employ and train personnel, buy goods and services, market goods and services (sell), maintain records

Final Jeopardy – Make your Wager

Final Jeopardy Question Most countries are a mix of market and command economies. Explain how each works and why most are mixed.

Final Jeopardy Answer What is Command is where government controls everything (schools, military) and Market is where companies and supply & demand control everything