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Chapter 1 Best Buy stores would most likely be classified as
44. Best Buy stores would most likely be classified as a. service businesses. b. sole proprietorships. c. a marketing intermediary. d. manufacturing establishments. e. perfect competition. 45. A local retailer calls its customers when it receives merchandise that they may […]
Chapter 1 Some economists believe that sound fiscal and monetary
124. Some economists believe that sound fiscal and monetary policy can reduce the amount of time the economy is in the stage of the business cycle. a. recession b. recovery c. repression d. prosperity e. trough 125. Since World War […]
Chapter 1 Susan Montgomery works at an institutional bakery and is paid
84. Susan Montgomery works at an institutional bakery and is paid a wage dictated by the government. She does not like her job but is not allowed other options. Susan must purchase necessities for her family at fixed prices. The […]
Chapter 1 The Years 1820 1900 Were considered The Golden
1. In your own words, describe what you have to offer to a potential employee of a company that you desire to work for. 2. How can online networking improve your chances of success in the business world? ANSWER: Answers […]
Chapter 1 Today Managers And Employees Are Longer Concerned
164. All except to 2000. are considered important, major events that shaped the nation’s economy during the period of 1940 a. the Korean War b. the institution of Franklin D. Roosevelt’s federal government programs c. the shortage of crude oil […]
Chapter 1 When a business distributes profits to business owners
202. When a business distributes profits to business owners, these profits become household income and are removed from the circular flow of the economy. a. True b. False 203. The services that government provides would not be produced by private […]
Chapter 10 According to the hierarchy of needs concept
157. According to the hierarchy of needs concept, people satisfy their needs in order of importance. a. True b. False 158. According to Maslow’s hierarchy of needs, the most basic needs are physiological needs. a. True b. False ANSWER: True […]
Chapter 10 Debbie Keep Her Job And Work From
124. At Jack’s Automotive Repair, the mechanics rarely interacted directly with customers. Work orders were processed by the customer service department and passed on to the mechanics. After experiencing excessive customer complaints about the poor quality of work, Jack realized […]
Chapter 10 How does motivation differ from morale
1. How does motivation differ from morale? 2. Under Taylor’s scientific management system, what did management have the responsibility to determine about an employee’s work, and what did the employee have the responsibility to decide? ANSWER: Under the scientific management […]
Chapter 10 In providing health insurance for its employees
44. In providing health insurance for its employees, IBM is probably satisfying which level of need? a. Physiological b. Esteem c. Self-realization d. Safety e. Social 45. Which of the following is not a level in Maslow‘s hierarchy of needs? […]
Chapter 10 The theory stating that rewarded behavior is likely
84. The theory stating that rewarded behavior is likely to be repeated and that punished behavior is less likely to recur is called a. expectancy theory. b. Theory Y. c. equity theory. d. reinforcement theory. e. Theory X. 85. The […]
Chapter 11 Burlington Coat Factory manufactures its winter jackets
42. Burlington Coat Factory manufactures its winter jackets in April but does not display them in its stores until early September. Burlington recognizes the importance of utility. a. form b. time c. production d. space e. possession 43. When John […]
Chapter 11 Consumer Reports And Has Visited selected Dealerships Gather
122. All of the following are ways to collect useful marketing research information except a. sending questionnaires by mail. b. conducting telephone polls. c. conducting personal interviews. d. buying from commercial or governmental data sources. e. impulsively stopping persons on […]
Chapter 11 If you have always been committed and loyal to Hewlett
154. If you have always been committed and loyal to Hewlett-Packard technology products, your customer lifetime value to Hewlett-Packard would likely be quite high. a. True b. False 155. CRM technology allows companies to make an investment in building long-term […]
Chapter 11 Sarah Now Looks Her Boss And Very
1. Identify and describe the four major types of utility. Which one is influenced indirectly by marketing efforts? 2. What does it mean for a firm to have a strong production orientation? How does this differ from the marketing concept? […]
Chapter 11 Which of the following is the most likely basis on
82. Which of the following is the most likely basis on which a market for boats can be segmented? a. The end use of the product b. The size of the product c. The product’s proximity to a retail outlet […]
Chapter 12 A branding strategy in which a firm uses a different
127. A branding strategy in which a firm uses a different brand for each of its products is called branding. a. producer b. individual c. unity d. family e. promotion 128. A branding strategy in which a firm uses the […]
Chapter 12 A variation of an existing product, such as freeze
208. A variation of an existing product, such as freeze-dried coffee, is an example of product imitation. a. True b. False 209. Entirely new products are innovations. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: p. 331 […]
Chapter 12 Delta Airlines prices its tickets so that it is less
167. Delta Airlines prices its tickets so that it is less expensive to travel between midnight and 5:00 a.m. than during the day, when there is heavy business travel. This illustrates pricing. a. cost-plus b. demand-based c. competition-based d. secondary […]
Chapter 12 Eric Realized That The Company’s Previous Owner
1. Would a new car equipped with a bumper jack, jack handle, spare tire, and warranty be the same product as the same car without these features? Explain. 2. Give the characteristics of shopping products, specialty products, and convenience products. […]
Chapter 12 Razor Company’s Blades Are The Maturity Stage
47. A wrench used to make adjustments to machinery that produces copper wire is classified as a. raw material. b. component part. c. process material. d. major equipment. e. accessory equipment. 48. An order of calculators with new features just […]
Chapter 12 The stage in the evolution of new products in which
87. The stage in the evolution of new products in which ideas that match company objectives are analyzed as to whether the firm has the required expertise for the product’s development and marketing is called a. exploration. b. test marketing. […]
Chapter 13 James Rodriguez, an advertising manager for Verizon
125. James Rodriguez, an advertising manager for Verizon, has chosen the words for the company’s new magazine ads and is now determining which illustrations will best complement the words. Therefore James is in which stage of developing the advertising campaign? […]
Chapter 13 MC Donalds Practice of Granting Franchises For Specific Geographic
165. The advertising medium that receives the largest share of advertising dollars is . a. television b. magazines c. radio d. direct mail e. newspapers 166. If Home Depot, Delta Faucets, and Armstrong Floor Coverings pay for a television show […]
Chapter 13 Meijer Retail Chain Carries Full Line Food
45. All of the following are services provided by wholesalers to retailers except a. buying in large quantities and selling in smaller quantities b. promoting the product c. supplying marketing information d. manufacturing a wide selection of product e. helping […]
Chapter 13 Neighborhood shopping centers often promote the center
198. Neighborhood shopping centers often promote the center and the tenants as a group. a. True b. False 199. Public warehouses will hold and issue receipts for goods used as collateral for borrowed funds. a. True b. False ANSWER: True […]
Chapter 13 Sales Will Increase Result This Advertising Campaign b
85. The president of your small company wants to better understand the basis on which you select your promotion mix. You indicate that the selection of promotion-mix ingredients and the degree to which they are used depend on all of […]
Chapter 13 What are the commonly used distribution channels
1. What are the commonly used distribution channels for consumer products? 2. Compare and contrast intensive, selective, and exclusive distribution. Give an example of a product that normally would be distributed in the way for each type of market coverage. […]
Chapter 14 Compare podcasts and social games as social media opportunities
1. Describe the term “digital native” and explain if you think the term and the definition are accurate. Provide examples to support your position. 2. Describe some of the ways that a business may choose to interact with other businesses […]
Chapter 14 United States Bus prog Analytic topics the Future The Internet
84. Rosie’s Flowers Company in Tulips, Ohio, uses an e-commerce software program on its website to allow customers to enter their own orders for flowers that are delivered by the end of the next business day. Rosie‘s Flowers follows a(n) […]
Chapter 14 Which of the following can be most closely associated
44. Which of the following can be most closely associated with “outsourcing tasks”? a. Blogs b. Podcasts c. Social gaming d. Crowdsourcing e. Media sharing 45. Mystarbucksidea.com is an example of a site. a. social networking b. crowdsourcing c. gaming […]
Chapter 14 Crowdsourcing involves outsourcing tasks to another
115. Crowdsourcing involves outsourcing tasks to another business—most often a business overseas. a. True b. False 116. Reading comments on social media sites about companies or products rarely offers valid insight into how consumers are reacting to products or services. […]
Chapter 15 According to the accountant for Michael’s Floral Supply
42. Resources that a firm owns are called a. revenue. b. liabilities. c. owners’ equity. d. assets. e. expenses. 43. Debts owed by a business are called a. assets. b. expenses. c. liabilities. d. equities. e. revenues. ANSWER: c POINTS: […]
Chapter 15 Accounting Firms Who Report Violations The Sarbanes Oxley
1. In your own words, describe the relationship between information and risk and how this relationship could impact the business decision–making process. 2. How might the information needs of a marketing manager differ from those of an operations manager? ANSWER: […]
Chapter 15 If you are taking a common sense approach to evaluating
122. If you are taking a common sense approach to evaluating a firm’s accounting information, which of the following would not be something that you would hope to see? a. Financial statements audited by an outside source b. Remembering that […]
Chapter 15 The Cost Goods Sold Comer Was Therefore a
82. A firm has $260,000 in assets and $158,000 in stockholders’ equity. It owes $55,000 from a long-term loan, and this is its only long–term liability. This firm has in total current liabilities. a. $55,000 b. $103,000 c. $47,000 d. […]
Chapter 16 A factor is a financial firm that specializes in buying
194. A factor is a financial firm that specializes in buying other firms’ accounts receivables. a. True b. False 195. The most expensive form of short-term financing is factoring of accounts receivable. a. True b. False ANSWER: True POINTS: 1 […]
Chapter 16 Jones Manufacturing needs $450,000 to build a new plant
41. Jones Manufacturing needs $450,000 to build a new plant. It must also spend $200,000 on new equipment for the plant. Both of these needs are examples of a. equity-capital needs. b. debt-capital needs. c. short-term financing needs. d. long-term […]
Chapter 16 Regional Finance Company This Arrangement Example OFA
81. Over the years, Zebra Productions has been slow making payments to its bank. Now it is in need of financing. Based on past experience, the interest rate Zebra will pay is the a. interest rate determined by the SBA. […]
Chapter 16 The type of corporate ownership that has first claim
121. The type of corporate ownership that has first claim on profits and assets is called a a. bondholder. b. preferred stockholder. c. creditor. d. common stockholder. e. board of directors. 122. What right do most common stockholders have that […]
Chapter 16 What Situations Would You Seek Short term Financing
1. In what situations would you seek short-term financing? In what situations would you seek long-term financing? 2. What is cash flow? Why is cash flow important to a business? ANSWER: Cash flow is the movement of money into and […]
Chapter 16 With regard to the ongoing expense of long-term
161. With regard to the ongoing expense of long–term corporate financing, which of the following would be the least expensive? a. Long–term loans b. Corporate bonds c. Debenture bonds d. Common stock e. Trade credit 162. With regard to the […]
Chapter 2 An instruction pamphlet detailing steps for the care
127. An instruction pamphlet detailing steps for the care and use of a new electric appliance would fulfill which provisions of Kennedy’s Consumer Bill of Rights? a. The right to safety and the right to be informed b. The right […]
Chapter 2 Are Not High Those Competing Firms
1. Define business ethics. 2. Why are fairness and honesty in business important ethical concerns? Give examples. ANSWER: Fairness and honesty in business are considered as two important ethical concerns. In addition to obeying all laws and regulations, businesspeople are […]
Chapter 2 Businesses’ record of social responsibility today is much
215. Businesses’ record of social responsibility today is much better than in past decades. a. True b. False 216. During the first quarter of the twentieth century, working conditions were deplorable by today‘s standards. a. True b. False ANSWER: True […]
Chapter 2 Individual Businesses Should Not Expected Solve Society’s
87. Each Saturday night, someone in the community called the local police to control the noisy, riotous activity at Billy Bob’s Tavern. However, Mr. Bob never took action on his own and ignored the problem. Eventually, local residents forced him […]
Chapter 2 Internal Revenue Serviced Review Managements Social Activity
167. What specific gas is internationally considered a top concern for air pollution? a. Carbon monoxide b. Nitrogen dioxide c. Carbon dioxide d. Greenhouse gas e. Hydrogen monoxide 168. Vicky drives a four-door sedan to work and other places everyday. […]
Chapter 2 Publisher’s Clearing House has a policy that no employees
47. Publisher’s Clearing House has a policy that no employees or their family members are eligible to win the big sweepstakes. This policy was likely implemented to a. shrink the pool of possible winners, which increases each individual’s odds of […]
Chapter 3 However The Italian Government Has Imposed Tax
1. What is the difference between an absolute advantage and a comparative advantage? 2. What does it mean for a country to have an absolute advantage? Compare that to having a comparative advantage. ANSWER: When a country has an absolute […]
Chapter 3 If Germany exports $100,000 of sauerkraut to Jamaica
47. If Germany exports $100,000 of sauerkraut to Jamaica and purchases $100,000 of Blue Mountain coffee beans from Jamaica, Germany has a. an overall favorable balance of trade. b. an overall unfavorable balance of trade. c. a favorable balance of […]
Chapter 3 Political considerations usually are involved in a country’s
201. Political considerations usually are involved in a country’s decision to impose a trade embargo. a. True b. False 202. Exportation of large quantities of a product at a price lower than that of the same product in the home […]
Chapter 3 The United States joined with Mexico and Canada to promote
127. The United States joined with Mexico and Canada to promote the movement of resources and products; it formed a(n) a. WTO. b. economic community. c. cartel. d. multinational. e. orderly marketing agreement. ANSWER: POINTS: b 1 DIFFICULTY: Moderate REFERENCES: […]
Chapter 3 The United States wants to limit the amount of dollars
87. The United States wants to limit the amount of dollars that another country can obtain. The best way to accomplish this is to a. impose an import duty. b. establish a foreign-exchange control. c. declare an embargo. d. set […]
Chapter 3 Which of the following represents the highest level of involvement
167. Which of the following represents the highest level of involvement in international business? a. Strategic alliance b. Totally owned facilities c. Multinational firm d. Joint ventures e. Exporting 168. Companies such as ExxonMobil and Mitsubishi operate on a worldwide […]
Chapter 4 A voluntary association of two or more people acting
159. A voluntary association of two or more people acting as co–owners of a business is known as a partnership. a. True b. False 160. A general partner is responsible for any debts of the partnership, regardless of whether he […]
Chapter 4 Experts Also Predict That More Mergers involving Investors
1. Describe the ownership, operation, and size of a sole proprietorship. 2. Why is a sole proprietorship the most flexible type of business? ANSWER: The sole proprietorship form of business ownership is the simplest type of ownership as well as […]
Chapter 4 Heidi Has The Primary Stockholder This Corporation a
85. Which of the following states offers the lowest organizational costs for corporations? a. Delaware b. Georgia c. Michigan d. New York e. Alaska 86. In the state in which it is incorporated, a business is known as a(n) a. […]
Chapter 4 The major reason why businesses change from sole proprietorships
45. Unlimited liability means a. there is no limit on the amount an owner can borrow. b. creditors will absorb any loss from nonpayment of debt. c. the business can borrow money for any type of purchase. d. the owner […]
Chapter 4 There Connection Between Growth And Executive Power
125. To raise capital, Candace Tyson and Martha Black plan to sell stock to between 108 and 200 investors. They also want to avoid double taxation. Which type of business ownership would you recommend? a. Regular corporation b. S-corporation c. […]
Chapter 5 Ronald’s Group Called Aa Small business Institute b University
86. All of the following are advantages that small businesses have except a. the ability to adapt to change. b. personal relationships with their customers. c. simplified record keeping. d. independence. e. greater potential for making a profit. 87. Your […]
Chapter 5 Small businesses are typically managed by people who started
159. Small businesses are typically managed by people who started and own them. a. True b. False 160. Entrepreneurial spirit is the desire to create a new business. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: p. […]
Chapter 5 What Advice Would You Give Kevin a Should Not
126. All of the following are franchise establishments except a. McDonald’s. b. Walmart. c. Holiday Inn. d. Avis. e. Dairy Queen. 127. There are three general types of franchising arrangements. In one approach, the franchisor authorizes retailers to sell a […]
Chapter 5 When She Started Work There She Noticed
1. How does the SBA define a small business? Approximately what percentage of all businesses in the United States are considered “small”? 2. Why do certain industries tend to be more attractive for the start-up of a small business? ANSWER: […]
Chapter 5 Within The First Year She Discovers That
46. The industry concerned with the movement of goods from producer to consumer is a. service. b. distribution. c. production. d. agriculture. e. wholesaling. 47. Which of the following would most likely be classified as a distribution industry? a. Subassembly […]
Chapter 6 A SWOT analysis is an identification and evaluation
43. A SWOT analysis is an identification and evaluation of a firm’s strengths, weaknesses, , and threats. a. options b. occasions c. opinions d. occurrences e. opportunities 44. McDonalds prides itself on its efficiency and value in delivering a product […]
Chapter 6 Although The Ultimate Responsibility His Has Difficulty
83. The manager who provides overall guidance and leadership for the entire corporation is known as the manager. a. human resources b. financial c. operations d. marketing e. administrative 84. The chief executive officer of Chrysler provides his organization with […]
Chapter 6 As Shelly Jones, manager of Sears, hands out customer
123. As Shelly Jones, manager of Sears, hands out customer questionnaires to get a better idea of customers’ needs as well as their concerns, she is exercising which facet of total quality management (TQM)? a. Employee participation in improving the […]
Chapter 6 Common names for top-level managers are vice president,
154. Common names for top-level managers are vice president, chief executive officer, and chief operating officer. a. True b. False 155. Middle managers occupy the management level that falls between the operating employees and first-line managers. a. True b. False […]
Chapter 6 Rosa lea Was Not Sure The Correct Layout
1. What is management and what resources does it involve? 2. How does the organization’s mission differ from its strategic planning? ANSWER: An organization’s mission is a statement of the basic purpose that makes the organization different from other organizations. […]
Chapter 7 A manager with few subordinates is said to have a
86. A manager with few subordinates is said to have a a. narrow span of control. b. flat organizational structure. c. managerial hierarchy. d. matrix structure. e. wide span of control. 87. A span of control may be wide when […]
Chapter 7 Executives from several departments at Ford Motor Company
126. Executives from several departments at Ford Motor Company were brought together recently to discuss the advantages and disadvantages of acquiring Jaguar. This type of committee is known as a(n) a. task force. b. standing committee. c. liaison committee. d. […]
Chapter 7 Ford and Xerox are two companies that have begun
46. Ford and Xerox are two companies that have begun moving away from strict job specialization to alleviate employee motivation problems. Each company has adopted a job design alternative that involves workers in a wider variety of tasks. The method […]
Chapter 7 Refer Dramatic Expressions What Type Departmentalization Does
1. Define an organization. Relate that definition to a local eating establishment by showing how this organization fits the definition. 2. Identify and briefly describe the decisions involved that management must make in organizing a business. ANSWER: Hiring people, deciding […]
Chapter 8 Iso 9000 Accepted More Japan Than The
124. A computerized system that integrates production planning and inventory control is called a. computerized inventory management. b. just-in–time record keeping. c. materials requirements planning. d. support inventory control. e. inventory control management. 125. The just–in–time inventory system focuses on […]
Chapter 8 The American economy is now characterized as a
44. The American economy is now characterized as a(n) economy. a. industrial b. centralized c. service d. stagnant e. bureaucratic 45. Today approximately percent of American workers are employed in service industries. a. 28 b. 47 c. 87 d. 90 […]
Chapter 8 What activities does operations management involve
1. What activities does operations management involve? 2. Briefly assess the good and bad news of the current U.S. manufacturing environment. ANSWER: The bad news is that many manufacturing jobs have been outsourced to low-wage workers in overseas countries, the […]
Chapter 8 When Company Tech decides to produce a new product line
84. When Company Tech decides to produce a new product line and determines the desired capacity and use of technology, the next step is to a. decide how big to build the new factory. b. hire new workers for the […]
Chapter 8 many American firms have lowered quality standards
158. To regain market share, many American firms have lowered quality standards. a. True b. False 159. An analytical process breaks raw materials into different component parts. a. True b. False ANSWER: True POINTS: 1 DIFFICULTY: Easy REFERENCES: p. 210 […]
Chapter 9 Compensation Another Important area Must Also Improved That
1. Define human resources management (HRM), and discuss the overall activities involved in each of its three main phases. 2. How does a replacement chart differ from a skills inventory? What is the purpose of each? ANSWER: A replacement chart […]
Chapter 9 Senior management in your organization wants you to explain
85. Senior management in your organization wants you to explain to the board of directors the key concept that makes compensation systems work. It would be correct to tell them that the ideal compensation system must a. keep labor costs […]
Chapter 9 The president of the United States established the requirements
161. The president of the United States established the requirements for affirmative action in human resources practices among a. all employers. b. employers on a voluntary basis. c. small employers with at least fifteen employees. d. all employers with fifty […]
Chapter 9 The reduction in the workforce that normally occurs
45. The reduction in the workforce that normally occurs when employees leave a company is called a. attrition. b. retirement. c. layoff. d. termination. e. reduction. 46. The most humane form of workforce reduction is a. attrition. b. layoff. c. […]
Chapter 9 This When The Superior Has Only Negative
125. Bob White was assigned to a senior employee responsible for instructing new computer programmers. Because of this senior employee‘s instruction, White gained hands-on experience under normal working conditions. Bob experienced training. a. simulation b. classroom c. seminar d. on–the-job […]