Question 1 1 points Save

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 1 points Save

__________ 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 1 points Save

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

accommodative

obstructionist

proactive

defensive

societal

Question 4 1 points Save

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 1 points Save

Carbon monoxide emitted by automobiles contributes to

land pollution.

air pollution.

noise pollution.

kiting.

consumption.

Question 6 1 points Save

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 1 points Save

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

green rain.

phosphates.

exajoules.

toxic wastes.

spreaders.

Question 8 1 points Save

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

American Home Products

BioMed

IBM

Schering-Plough

Bristol-Myers

Question 9 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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

tariffs.

embargoes.

subsidies.

local content laws.

quotas.

Question 14 1 points Save

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 1 points Save

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

Walgreens

Cisco Systems

UPS

USPS

Coca-Cola

Question 16 1 points Save

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

revenue

quota

subsidy

protectionist

union

Question 17 1 points Save

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 1 points Save

Toyota began selling cars in the United States during the

1930’s.

1940’s.

1950’s.

1960’s.

1970’s.

Question 19 1 points Save

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 1 points Save

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

tariff.

embargo.

subsidy.

local content law.

quota.

Question 21 1 points Save

__________ 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 1 points Save

Joe Liemandt is the founder of

EDS.

Trilogy Software.

BMC Software.

Wal-Mart.

Taylor Corporation.

Question 23 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

At Trilogy Software, Joe Liemandt emphasizes

teamwork and risk-taking.

process improvement.

job redesign.

telecommuting.

reducing turnover.

Question 29 1 points Save

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 1 points Save

Job rotation is a form of

job enrichment.

management by objectives.

team management.

flextime.

participative management.

Question 31 1 points Save

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

place

pricing

promotion

product

all of the above

Question 32 1 points Save

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

Nintendo, 2001

Dell, 2000

IBM, 2000

Sega, 2001

Microsoft, 2001

Question 33 1 points Save

Products purchased for personal use are called

intangibles.

consumer goods.

industrial goods.

industrial services.

the advertising mix.

Question 34 1 points Save

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

surveys

observation

focus groups

experimentation

positioning

Question 35 1 points Save

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

reseller

industrial

institutional

government

pricing

Question 36 1 points Save

Raw materials, integrated circuits, and surgical instruments are

substitute products.

industrial goods.

consumer goods.

marketing goods.

services.

Question 37 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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

reseller markets

industrial markets

institutional market

government markets

retail markets

Question 41 1 points Save

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

demand deficit

stoppage

equilibrium point

shortage

surplus

Question 42 1 points Save

Who is MOST closely associated with the Production Era?

Andrew Carnegie

Andrew Mellon

John D. Rockefeller

J.P. Morgan

Henry Ford

Question 43 1 points Save

Market forecasts are an example of

information resources.

physical resources.

capital.

labor.

entrepreneurs.

Question 44 1 points Save

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 1 points Save

Of the following periods, which came first?

Entrepreneurial Era

Industrial Revolution

Global Era

Marketing Era

Production Era

Question 46 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

“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 1 points Save

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

transnational

private

S-

limited liability

global

Question 52 1 points Save

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

common stock

preferred stock

bonds

options

futures

Question 53 1 points Save

Under a franchise arrangement, the buyer is called the

franchisee.

franchiser.

bank.

parent company.

wholesaler.

Question 54 1 points Save

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 1 points Save

MasterCard is an example of a private or ________ corporation.

general

public

closely held

sole

limited

Question 56 1 points Save

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 1 points Save

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

MESBICs

UNESCO

UNSCOMs

SEC

FERAC

Question 58 1 points Save

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 1 points Save

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 1 points Save

Which of the following guarantees holders fixed dividends?

common stock

bonds

mortgages

preferred stock

none of the above

Question 61 1 points Save

Which of the following is a selection technique?

application forms

interviews

aptitude tests

polygraph tests

all of the above

Question 62 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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

union trustbusters.

contingent workers.

migratory workers.

flextime workers.

telecommuters.

Question 67 1 points Save

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 1 points Save

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 1 points Save

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

wildcat strike

boycott

lockout

strikebreaker

economic strike

Question 70 1 points Save

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

bonuses

merit salary systems

wages

cafeteria benefit plans

workers’ compensation insurance

Question 71 1 points Save

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 1 points Save

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 1 points Save

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

functional

process

customer

geographic

finance

Question 74 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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

delegation

responsibility

centralization

decentralization

authority

Question 79 1 points Save

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 1 points Save

Cypress Semiconductor employs a __________ organizational structure.

team

virtual

learning

boundaryless

flexible

Question 81 1 points Save

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

positive

beneficial

depressed

nominal

negative

Question 82 1 points Save

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 1 points Save

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 1 points Save

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

Unemployment

Deflation

Expansion

Stability

Inflation

Question 85 1 points Save

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 1 points Save

Currently, the U.S. national debt is approximately

$590 million.

$59 billion.

$590 billion.

$5.9 trillion.

$590 trillion.

Question 87 1 points Save

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 1 points Save

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 1 points Save

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

economic

inflation

recession

information

stabilization

Question 90 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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 1 points Save

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

planning

optimizing

organizing

directing

controlling

Question 96 1 points Save

Which of the following managers depend most on conceptual skills?

first-line managers

top managers

middle managers

production managers

marketing managers

Question 97 1 points Save

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 1 points Save

Pearson PLC is a(n)

British media company.

credit card and financial services company.

travel agency.

entertainment conglomerate.

farming cooperative.

Question 99 1 points Save     

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 1 points Save

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