Week 16 · Final exam

Final Exam — Instructions

Introduction to Business Free sample edition

The final exam's instructions page, as students read it before they start. The exam's questions and its answer key ship only inside the course's .imscc (Classic QTI); a scored exam's items are not published on this public page.

Overview

This is the scored final exam for Introduction to Business. It is cumulative: its questions reach all eight course objectives, from what a business is and the world around it to trade across borders. It is given in Week 16, the finals week, which has no new material.

The final has 40 questions, and every question counts the same. Thirty-six of them ask you to select exactly one option, and four ask you to judge whether a statement is true or false. Thirteen questions are on the easier side, 17 are of medium difficulty, and 10 are harder. Every list, statement, schedule, or set of figures a question uses is written out in words inside the question, so nothing depends on reading a chart. A few questions ask for a short calculation, such as a yearly cost, a ratio, or an opportunity cost, and scratch paper is enough for each one.

Every question practices a skill you have already used in the weekly quizzes, lecture tutorials, and Business Case Workshops. Most questions describe a short, illustrative business situation and ask you to name the idea at work or to run one of the course's formulas on it.

Coverage and scope

The questions were drawn from the course's question bank, and every one of the eight objectives appears at least once. The draw does not spread across all fifteen teaching weeks, though. Here is what this form actually contains, first by the week each question's material comes from and then by objective.

The final's 40 questions by the week whose material each question comes from, with the objectives those questions check
Week	Topic	Questions	Objectives checked
9	Reaching more customers	6	Objective 4 (4), Objective 3 (2)
10	Leading the work	6	Objective 5 (5), Objective 2 (1)
11	Hiring and the law	6	Objective 6 (5), Objective 3 (1)
12	Keeping people engaged	5	Objective 6 (4), Objective 5 (1)
13	Accounting and financial statements	7	Objective 7 (5), Objective 4 (2)
14	Paying for growth	5	Objective 7 (5)
15	Growing beyond borders	5	Objective 8 (4), Objective 1 (1)

The final's eight objectives, the weeks that teach each one, and the number of the exam's 40 questions on each
Objective	What the questions ask you to do	Weeks that teach it	Questions
1	Describe a business and the forces outside it	1 and 2, carried into 15	1
2	Turn an idea into a planned, funded venture in a legal form	3 and 4, carried into 10	1
3	Separate ethics from legality and present contested positions without a verdict	5, carried into 9 and 11	3
4	Explain how operations and marketing create value, from capacity and pricing to distribution and promotion	6, 7, and 9, carried into 13	6
5	Apply organizational structure and the work of management	8 and 10, carried into 12	6
6	Explain how organizations hire, pay, and motivate people within the law	11 and 12	9
7	Read the financial statements and their ratios, and explain money, banks, and financing	13 and 14	10
8	Explain why nations trade and how firms enter foreign markets	15	4

Each question checks exactly one objective, so the objective column adds to 40, the same as the week column.

Read the two tables together. All 40 questions come from the material of Weeks 9 to 15. No question is drawn directly from the material of Weeks 1 to 8. Week 13 carries the most questions, 7. Weeks 9, 10, and 11 have 6 each, and Weeks 12, 14, and 15 have 5 each. By objective, the financial statements, money, and financing (Objective 7) are the heaviest, with 10 questions. People and the law (Objective 6) follow with 9, and operations and marketing (Objective 4) and management (Objective 5) have 6 each.

The harder questions are not spread evenly. Week 15 has 3 harder questions among its 5, and Weeks 10 and 13 have 2 each. Weeks 9, 11, and 14 have 1 each, and Week 12 has none. Most harder questions take two steps in a row, such as working out a total before you compare it, or carrying a change through to a new ratio.

Here are the skills the drawn form asks for, week by week:

Week 9: sort a direct channel from an indirect one and name the kind of intermediary, and read place as every decision about how the offer reaches the buyer. Sort the promotional mix, and explain why every channel should carry one consistent message. Hold a promotional claim to the course's test (specific, true, checkable), and keep the legal floor apart from the ethical question.
Week 10: use the four management functions to see which one a manager is neglecting, and sort plans by how far ahead they look. Count the people on an organization chart, and set a break-even pace as a controlling standard. Tell a mission statement from an objective.
Week 11: read the federal wage floor as a minimum that states may raise, and find how far a wage sits above it. Place the employment statutes by name and year, including the amendment that lets states pass right-to-work laws. Keep collective bargaining apart from a strike, a job description apart from a job specification, and a documented fact about unions apart from a position someone argues.
Week 12: work out weekly pay and compare what two people get for what they put in, as equity theory does. Read the Hawthorne effect as contested and Maslow's levels as a loose order. Put the theorists in their order of publication, and link Theory X assumptions to a leadership style.
Week 13: keep owner withdrawals off the income statement, build net income from its lines, and compute a net profit margin from named lines. Read the balance sheet as a snapshot at one date, and carry owner's equity forward with net income and withdrawals. Find the profit that sales beyond the break-even bring in, and keep gross margin apart from markup on cost.
Week 14: name money's job as a unit of account, and say who sets a bank's loan rate. Apply the FDIC maximum in its own wording, price a loan's yearly interest, and carry a new loan through to debt-to-equity.
Week 15: file trade news in a SWOT, compute opportunity costs, and find the terms of trade that leave two producers better off. Total the output after specializing and trading, name who owes a tariff at the border, and pick the entry-ladder rung that fits a business's appetite for risk.

The early objectives still count. Eleven questions check Objectives 1 to 4, and every one of them sits inside the later weeks' material. Promotion and its claims bring back Week 5's line between ethics and legality, and the income statement brings back Week 7's break-even and markup. The mission statement reaches back to Week 3's business plan, and trade news lands in Week 1's SWOT. Week 8's organization chart is not checked on its own, but its levels and spans return when Week 10 counts the people a manager organizes.

These notes map the skills the final checks. The questions themselves are drawn from the course's question bank and are not listed here.

Instructions

Attempts: one. The final is a single scored attempt.
Time limit: there is no time limit. Take the time you need, as long as you submit before the exam closes.
Window: the final opens in Week 16 and closes at the due time your instructor sets. Start early enough to finish comfortably inside that window.
Navigation: the questions appear one at a time, and once you move on you cannot go back to an earlier question. Settle each one before you move to the next.
Order: the options inside each question are shuffled for each student, so refer to an option by what it says, never by its place in the list.
Materials: every figure a question uses is printed in the question, and scratch paper is enough for each short calculation. Write each step on its own line, as you did in the Workshops. Unless your instructor announces otherwise, the final is closed-note.
After you submit: Canvas shows your result. The keyed choices stay hidden so the final stays fair for every student.

Academic integrity

The final is an individual, scored assessment, and it is closed to AI. Do not use a chatbot or any other AI tool, do not get help from another person, and do not share or post the questions during or after your attempt. These rules come from the course syllabus. The final confirms that you personally can name a concept, read a statement or a schedule, and compute a ratio, a yearly cost, or an opportunity cost.

The honest way to prepare is open to you. The study guide, the practice final, and the exam-prep tutorial rehearse the same skills with fresh variants, and nothing on them appears on the final word for word.

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