Reference no: EM131316352

Question 1

Which of the following has NOT been identified as a basic consumer right?

Consumers have a right to safe products.
Consumers have a right to collude.
Consumers have a right to be informed about a product.
Consumers have a right to be heard.
Consumers have a right to choose what they buy.

Question 2

__________ occurs when producers, wholesalers, or retailers respond to increased demand with extremely high prices.

Price fixing
Gain taking
Price gouging
Recession pricing
Inflation

Question 3

The Ronald McDonald House program is a good example of a(n) _____________ stance to social responsibility.

accommodative
obstructionist
proactive
defensive
societal

Question 4

The Brazilian practice of jeitinho means

"to find a way".
"to win at all costs".
"on my honor".
"to dance together".
"to fight like a lion".

Question 5

Carbon monoxide emitted by automobiles contributes to

land pollution.
air pollution.
noise pollution.
kiting.
consumption.

Question 6

Which is the first step in establishing a social responsibility program?

Social responsibility must start at the top.
A committee of top managers must develop a plan.
Governmental initiatives must dictate starting a plan.
One executive must be put in charge of the firm's agenda.
The organization must conduct occasional social audits.

Question 7

Dangerous chemical and/or radioactive byproducts of manufacturing processes are called

green rain.
phosphates.
exajoules.
toxic wastes.
spreaders.

Question 8

In the fall of 2001, _________ purchased a 20% stake in ImClone.

American Home Products
BioMed
IBM
Schering-Plough
Bristol-Myers

Question 9

Firms adopting a(n) ___________ stance to social responsibility do not necessarily or proactively seek avenues for contributing, but participate after solicitation.

accommodative
obstructionist
proactive
defensive
societal

Question 10

Retailers who charged very high prices during the panic immediately following September 11, 2001 could have been charge with

price fixing.
price matching.
unit pricing.
segmentation pricing.
price gouging.

Question 11

Best Brews buys coffee beans grown in South American and has them shipped to the U.S. for sale in their high-end coffee shops. In this example, Best Buys is _________ coffee.

importing
buying back
brokering
exporting
servicing

Question 12

Which of the following is NOT mentioned as a common legal and political issue in international business?

quotas
tariffs
local content laws
business practice laws
real property taxes

Question 13

Many countries control bacteria and disease by banning certain agricultural products through

tariffs.
embargoes.
subsidies.
local content laws.
quotas.

Question 14

The rate at which the currency of one nation can be exchanged for that of another is called a(n)

balance of payments.
exchange rate.
floating interest rate.
trade surplus.
trade deficit.

Question 15

Which of the following large firms began their international operations as exporters?

Walgreens
Cisco Systems
UPS
USPS
Coca-Cola

Question 16

Tariffs that are imposed strictly to raise money for the government are referred to as ________ tariffs.

revenue
quota
subsidy
protectionist
union

Question 17

Using a(n) ________ strategy, the company finds a partner in the country in which it would like to conduct business.

branch office
replication
strategic alliance
independent agency
direct investment

Question 18

Toyota began selling cars in the United States during the

1930's.
1940's.
1950's.
1960's.
1970's.

Question 19

In 1999, the U.S. charged companies from Japan and Brazil with __________ for selling steel at prices 70% below its normal value.

bribery
setting up a cartel
setting quotas
dumping
globalization

Question 20

The amount of Canadian softwood timber that can be imported is limited under a(n)

tariff.
embargo.
subsidy.
local content law.
quota.

Question 21

__________ is a system of collaborative goal settings that extends from the top of an organization to the bottom.

Equity theory
Two-factor theory
Hygiene theory
Management by objectives
Empowerment

Question 22

Joe Liemandt is the founder of

EDS.
Trilogy Software.
BMC Software.
Wal-Mart.
Taylor Corporation.

Question 23

According to which of the following theories are workers solely motivated by money?

behavior theory
human relations theory
two-factor theory
classical theory
expectancy theory

Question 24

Participative management and empowerment results in

increased job satisfaction.
greater commitment by employees to organizational goals.
increased benefit costs.
both a and b.
both b and c.

Question 25

A challenging job and self-fulfillment can meet the ___________ needs level in the hierarchy of needs model.

social
self-actualization
physiological
esteem
security

Question 26

Which of the following approaches to human relations in the workplace reflects a basic theory of motivation?

classical theory
scientific management
behavior theory
contemporary motivational theory
all of the above

Question 27

Which of the following is designed to add one or more motivating factors to job activities?

process management
job redesign
job enrichment
MBO
team management

Question 28

At Trilogy Software, Joe Liemandt emphasizes

teamwork and risk-taking.
process improvement.
job redesign.
telecommuting.
reducing turnover.

Question 29

At United Systems, managers and employees meet to discuss organizational goals and set individual goals. Employees are evaluated and rewarded based on their achievement of these goals. United Systems uses a __________ system.

participative management
management by objectives
team management
job enrichment
flextime

Question 30

Job rotation is a form of

job enrichment.
management by objectives.
team management.
flextime.
participative management.

Question 31

Which of the following is a component of the marketing mix?

place
pricing
pricing
product
all of the above

Question 32

Xbox was created by __________ and released to the market in November ______.

Nintendo, 2001
Dell, 2000
IBM, 2000
Sega, 2001
Microsoft, 2001

Question 33

Products purchased for personal use are called

intangibles.
consumer goods.
industrial goods.
industrial services.
the advertising mix.

Question 34

Which of the following is NOT a method of marketing research?

surveys
observation
focus groups
experimentation
positioning

Question 35

Hospitals, churches, museums, and charitable organizations are called __________ markets.

reseller
industrial
institutional
government
pricing

Question 36

Raw materials, integrated circuits, and surgical instruments are

substitute products.
industrial goods.
consumer goods.
marketing goods.
services.

Question 37

Data warehousing is

a marketing strategy that emphasizes long lasting relationships with customers.
the process of dividing a market into categories of customer types.
the study of consumer needs and wants, and the ways in which sellers can best meet them.
the process of collecting, storing, and retrieving data in electronic files.
the process of fixing, adapting, and communicating the nature of the product itself.

Question 38

Market segmentation is

a marketing strategy that emphasizes long lasting relationships with customers.
the process of dividing a market into categories of customer types.
the study of consumer needs and wants, and the ways in which sellers can best meet them.
the process of collecting, storing, and retrieving data in electronic files.
the process of fixing, adapting, and communicating the nature of the product itself.

Question 39

Which of the following best describes place utility?

Emphasizing lasting relationships with customers and suppliers.
Making products available when consumers want them.
Transferring legal possession to the consumer.
Making products available where consumers can conveniently purchase them.
Turning raw materials into finished products.

Question 40

Which of the following is NOT a component of the organizational market?

reseller markets
industrial markets
institutional market
government markets
retail markets

Question 41
When the quantity demanded exceeds the quantity supplied, a(n) __________ will result.

demand deficit
stoppage
equilibrium point
shortage
surplus

Question 42

Who is MOST closely associated with the Production Era?

Andrew Carnegie
Andrew Mellon
John D. Rockefeller
J.P. Morgan
Henry Ford

Question 43

Market forecasts are an example of

information resources.
physical resources.
capital.
labor.
entrepreneurs.

Question 44

Which of the following most accurately reflects the history of business in the US, from earliest to most recent?

Entrepreneurial Era, Industrial Revolution, Global Era, Marketing Era, Internet Era, Production Era.
Industrial Revolution, Production Era, Entrepreneurial Era, Marketing Era, Internet Era, Global Era.
Production Era, Industrial Revolution, Entrepreneurial Era, Marketing Era, Global Era, Internet Era.
Marketing Era, Entrepreneurial Era, Industrial Revolution, Marketing Era, Global Era, Internet Era.
Industrial Revolution, Entrepreneurial Era, Production Era, Marketing Era, Global Era, Internet Era.

Question 45

Of the following periods, which came first?

Entrepreneurial Era
Industrial Revolution
Global Era
Marketing Era
Production Era

Question 46

In the city of Westminster, market analysts have observed that all Christmas trees offered for sale will be purchased at a price of $20.00 and all demand will be satisfied. In this market, $20,00 is the

equilibrium price.
demand price.
supply price.
enterprise price.
margin price.

Question 47

In socialism, which of the following is most UNLIKELY to be owned by the government?

the banking industry
the communications industry
the transportation industry
the restaurant industry
the steel industry

Question 48

Which of the following eras was prompted by increased consumer demand after World War II?

Global Era
Industrial Revolution
Entrepreneurial Era
Production Era
Marketing Era

Question 49

On a graph showing the supply curve and the demand curve, the point at which the supply curve crosses the demand curve is referred to as _______.

the junction
the crossover
the equilibrium price
the law of demand
the breakeven point

Question 50

"Buyers will purchase (demand) more of a product as its price drops and less of a product as its price increases." This is referred to as

the buyers' code of conduct.
the eternal purchase guideline.
the "asking factor".
the law of demand.
the greater sucker theory.

Question 51

In a(n) __________ corporation, stock may be traded on the exchanges of several countries.

transnational
private
S-
limited liability
global

Question 52

Which of the following typically has voting rights, with each share carrying one vote?

common stock
preferred stock
bonds
options
futures

Question 53

Under a franchise arrangement, the buyer is called the

franchisee.
franchiser.
bank.
parent company.
wholesaler.

Question 54

Under this arrangement, the SBA works with a corporation founded by local citizens who want to boost the local economy to finance the small business, with the SBA's share not to exceed $500,000 for each small business.

guaranteed loans program
immediate participation loans program
venture capital subsidy program
local development companies program
long-term progressive loan program

Question 55

MasterCard is an example of a private or ________ corporation.

general
public
closely held
sole
limited

Question 56

Which of the following are recent trends in small business startups?

Entrepreneurs who cross over from big business.
Increased opportunities for minorities.
Increased opportunities for women.
New opportunities in global enterprise.
All of the above.

Question 57

Which of the following specializes in financing businesses that are owned and operated by minorities?

MESBICs
UNESCO
UNSCOMs
SEC
FERAC

Question 58

Jan Pennington is opening a flower shop and has decided to operate as a sole proprietorship. Which of the following is NOT one of the advantages of operating the business as a sole proprietorship?

freedom
simple to form
limited liability
low startup costs
tax benefits

Question 59

Alan has invested $100,000 in a new business. In the event that the business fails, Alan can lose no more than the $100,000 that he has invested. Alan has most likely invested in a

corporation.
limited partnership.
general partnership.
sole proprietorship.
either a or b.

Question 60

Which of the following guarantees holders fixed dividends?

common stock
bonds
mortgages
preferred stock
none of the above

Question 61

Which of the following is a selection technique?

application forms
interviews
aptitude tests
polygraph tests
all of the above

Question 62

Member of the International Brotherhood of Basketweavers have walked off the job based on the failure of contract negotiations between Collector Baskets, Inc. and the union representing the building maintenance staff. This is an example of a(n) __________ strike.

wildcat
sympathy
wage
economic
contingent

Question 63

Which of the following describes the skills, education, and experience required by a job?

staffing survey
advertising budget
job specification
employee analysis
on-the-job training agreement

Question 64

Jane, a supervisor, has offered George, a subordinate, a raise and promotion in exchange for a sexual relationship. This is an example of _________ harassment.

quid pro quo
hostile work environment
affirmative action
employment-at-will
reverse

Question 65

A standardized form that asks the applicant for information such as background, experience, and education is referred to as a(n)

resume.
letter of introduction.
advertisement.
job application.
performance recommendation.

Question 66

Employees hired to supplement an organization's permanent work force are called

union trustbusters.
contingent workers.
migratory workers.
flextime workers.
telecommuters.

Question 67

A ___________ allows wage rates to be renegotiated during the life of a labor contract.

cost-of-living adjustment
bargaining zone
strike
bargaining unit
wage reopener clause

Question 68

A(n) ____________ is a set of individuals who, by nature of one or more common characteristics, are protected from discrimination on the basis of that characteristic.

protected class
bargaining unit
union
worker's consortium
affirmative action

Question 69

After negotiations failed, Collector Baskets, Inc. may chose to use a(n) __________ to prevent union employees from coming to work.

wildcat strike
boycott
lockout
d strikebreaker
economic strike

Question 70

Which of the following links raises performance levels in nonsales jobs?

bonuses
merit salary systems
wages
cafeteria benefit plans
workers' compensation insurance

Question 71

Which of the following is a benefit of treating departments as profit centers?

Control is narrowed and made easier.
Coordination is narrowed and made easier.
Top managers can see how units are performing.
A department can be treated as a profit center.
All of the above.

Question 72

Which of the following is a disadvantage of specialization?

Employees may derive less satisfaction from their jobs.
Employees may become bored and careless.
Employees may become overpaid.
All of the above.
Both a and b.

Question 73

When the organization is divided according to production processes, it is using __________ departmentalization.

functional
process
customer
geographic
finance

Question 74

In early 1999, Ford executives announced changes intended to eliminate corporate bureaucracy, speed decision making, and improve communication and working relationships among people at different levels of the organization. These changes are examples of the ________ function of management.

controlling
directing
organizing
planning
none of the above

Question 75

Which of the following best describes responsibility?

The power to make the decisions necessary to complete a task.
The liability of subordinates for accomplishing tasks assigned by managers.
The number of people supervised by one manager.
The duty to perform an assigned task.
The assignment of a task, responsibility, or authority by a manager to a subordinate.

Question 76

Vlasic has separate divisions to transform cucumbers into fresh-packed pickles, pickles cured in brine, and relishes. This is an example of __________ departmentalization.

customer
functional
geographic
process
product

Question 77

Shell Oil has recently purchased an executive conference center north of Houston as part of its program to become a __________ organization.

team
virtual
learning
boundaryless
flexible

Question 78

Which of the following begins when a manager assigns a task to a subordinate?

delegation
responsibility
centralization
decentralization
authority

Question 79

Authority given to a special group of employees that play central roles in the firm's daily operations is called

risk aversion.
committee and team authority.
line authority.
matrix organization.
international organization.

Question 80

Cypress Semiconductor employs a __________ organizational structure.

team
virtual
learning
boundaryless
flexible

Question 81

A __________ balance of trade results when a country exports more than it imports.

positive
beneficial
depressed
nominal
negative

Question 82

How might low inflation affect McDonald's?

McDonald's will pay higher prices for supplies and will charge customers more for its products.
McDonald's will pay relatively constant prices for supplies and will charge customers more for its products.
McDonald's will pay higher prices for supplies, but will be unable to increase the price paid by customers.
McDonald's will pay relatively constant prices for supplies, but will be unable to increase the price paid by customers.
McDonald's will pay much higher prices for supplies and will charge customers more for its products.

Question 83

Which of the following will influence a neighborhood grocery store?

an increase in unemployment in the area
pricing policies of competitors
other marketing policies of competitors
all of the above
none of the above

Question 84

____________ is the economic condition characterized by widespread increased prices without increased purchasing power.

Unemployment
Deflation
Expansion
Stability
Inflation

Question 85

Which of the following best describes real GDP?

Total quantity of goods and services produced by an economic system.
Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system.
Total value of all goods and services produced within a given period by a national economy, through domestic factors of production measured in current dollars, or with all components valued at current prices.
Total value of all goods and services produced within a given period by a national economy through domestic and international factors of production.
Total value of all goods and services produced by a national economy within a given period, calculated to account for changes in currency values and price changes.

Question 86

Currently, the U.S. national debt is approximately

$590 million.
$59 billion.
$590 billion.
$5.9 trillion.
$590 trillion.

Question 87

The principle of _________ states that exchange rates are set so that the prices of similar products in different countries are about the same.

purchasing power parity
consumer price index
gross national product
equal prices
nominal GDP

Question 88

Which of the following statements about inflation is true?

The consumer price index is a good way of measuring inflation.
Inflation decreases the purchasing power of consumer dollars.
Inflation increases the purchasing power of consumer dollars.
Both a and b.
None of the above.

Question 89

Taken together, fiscal policy and monetary policy make up ________ policy.

economic
inflation
recession
information
stabilization

Question 90

In the Fortune list of most admired companies, _________ was ranked first in its industry in 2001 and last in the 2002 list.

Enron
Wal-Mart
Southwest Airlines
Merck
Canon

Question 91

Coca Cola's decision to increase sales in Europe by building European bottling facilities is an example of a(n)

tactical plan.
operational plan.
strategic tactic.
strategic plan.
operational tactic.

Question 92

Marjorie Scardino's focus as CEO of Pearson PLC is on

maximizing sales.
looking for ways to increase efficiency and lower costs.
the personal and professional welfare of her employees.
reorganizing a large number of services into four core businesses.
developing new products.

Question 93

Developed by middle- and lower-level managers, these short-term targets are directed at daily, weekly, or monthly performance.

strategic goals
tactical plans
strategic plans
operational plans
tactical strategies

Question 94

Titles such as plant manager, operations manager, and division manager designate which of the following levels of management?

first-line managers
second-line managers
middle managers
top managers
supervisors

Question 95

Comparing actual performance against standards is an example of which of the following processes of management?

planning
optimizing
organizing
directing
controlling

Question 96

Which of the following managers depend most on conceptual skills?

first-line managers
top managers
middle managers
production managers
marketing managers

Question 97

Which of the following would be classified as an opportunity for an organization?

government regulations
competition
changing consumer tastes
strong reputation with consumers
recall of a competitor's product

Question 98

Pearson PLC is a(n)

British media company.
credit card and financial services company.
travel agency.
entertainment conglomerate.
farming cooperative.

Question 99

The last step in the decision-making process is

evaluating the alternatives.
implementing the chosen alternative.
defining the problem.
evaluating the effectiveness of the chosen alternative.
gathering facts.

Question 100

The titles supervisor, office manager, and group leader are examples of which of the following levels of management?

top management
middle management
first-line management
operations management
marketing management.