DSST Business 4

Question 1

In human resources management, 'collective bargaining' refers to:

Accepted Answer

Negotiations between unions and management over wages and conditions

Answer

Collective bargaining is the negotiation process between labor unions and employers to establish wages, benefits, and working conditions.

Question 2

What does 'depreciation' represent in accounting?

Accepted Answer

The systematic allocation of an asset's cost over its useful life

Answer

Depreciation is an accounting method that allocates the cost of a tangible asset over its expected useful life as a non-cash expense.

Question 3

Which economic concept states that as more units of a good are consumed, the additional satisfaction from each extra unit tends to decrease?

Accepted Answer

Diminishing marginal utility

Answer

Diminishing marginal utility explains that each additional unit of a good consumed yields less additional satisfaction than the previous unit.

Question 4

A company that holds patents, controls rare resources, and faces no close substitutes is likely operating in which market structure?

Accepted Answer

Monopoly

Answer

A monopoly exists when a single firm dominates a market with no close substitutes, often protected by patents, resource control, or regulation.

Question 5

In business ethics, 'corporate social responsibility' (CSR) means a company:

Accepted Answer

Considers social and environmental impacts alongside profits

Answer

CSR is a management concept where companies integrate social and environmental concerns into their business operations and stakeholder interactions.

DSST - DANTES Subject Standardized Tests Practice Test