Which of the following is involved in the final stage in the buyer decision process?
A) After the buyer has purchased the product, the marketer asks for feedback on the
quality of the product.
B) After the buyer has purchased the product, the marketer promotes more advanced
versions of the product.
C) After the buyer has purchased the product, the marketer provides customer
assistance for use of the product.
D) After the buyer has purchased the product, the marketer reminds the buyer that he or
she made a wise purchase.
E) After the buyer has purchased the product, the marketer promotes related products
by the same company.
When economists measure gross national product, what is being measured within a
specific time period, regardless of location?
A) The aggregate output
B) The economic growth of the nation
C) The growth of domestic factors of production
D) The growth rate adjusted for inflation
E) The total value of all goods and services
What is the process of working with employees who are represented by a union?
A) Labor relations
B) Human resource management
C) Negotiation
D) Arbitration
E) Contingency recruitment
Which pricing objective has the goal of establishing market share?
A) Market penetration
B) E-business
C) Brand recognition
D) Brand licensing
E) Profit-maximizing
Home Shopping Club and QVC are examples of which of the following retail sales
outlet?
A) Direct selling
B) Video retailing
C) Electronic shopping
D) Virtual selling
E) Telemarketing
Which of the following BEST describes ISO 9000?
A) The concept that all employees are valuable contributors to a firm’s business, and
should be entrusted with decisions regarding their work
B) The redesigning of business processes to improve performance, quality, and
productivity
C) A program certifying that a factory, laboratory, or office has met the quality
management standards of the International Organization for Standardization
D) A certification program attesting to the fact that a factory, laboratory, or office has
improved environmental performance
E) The process of evaluating all work activities to determine the value they add for
customers
In the United States, who has the greatest influence on the value of the U.S. dollar?
A) The World Bank
B) The International Monetary Fund
C) The Federal Reserve
D) The European Central Bank
E) The United Nations (U.N.)
Scientific management is best described as a theory of motivation which states
A) job satisfaction depends on two factors, hygiene and motivation.
B) people are motivated to work toward rewards that they want and that they have a
reasonable chance of obtaining.
C) people evaluate their treatment by the organization relative to the treatment of
others.
D) managers should analyze jobs to find the most efficient methods and use money as a
primary motivator.
E) people will work more productively as long as they receive some kind of attention
from management.
What is the main advantage of effective process layouts?
A) Flexibility
B) Cost
C) Speed
D) Quality
E) Performance
Which of the following organizations is a firm that makes products in one country and
then distributes and sells them in others?
A) Importer
B) Exporter
C) Multinational firm
D) International firm
E) Direct foreign investor
Which of the following refers to the practice of selling a product abroad for less than
the cost of production?
A) Exporting
B) Importing
C) Dumping
D) Safeguarding
E) Offshoring
According to McClelland, what do employees experience when they tend to want
reassurance and approval from others and are genuinely concerned about others’
feelings?
A) The need for power
B) The need for satisfaction
C) The need for achievement
D) The need for motivation
E) The need for affiliation
If a company offers several products that are similar in nature, how could the company
increase sales while saving the consumer money?
A) Use a bundling strategy
B) Incorporate dynamic pricing
C) Sell at a reverse auction
D) Use a penetration pricing strategy
E) Incorporate a price skimming option
Flexible production and speedy delivery found in mass customization are dependent on
which of the following?
A) Unique features
B) Buyers tastes
C) Coordination between buyers and suppliers
D) Adaptable assembly lines
E) Integrated networks
Which key element of a business plan will determine inventory, size of space required,
and number of employees needed?
A) Financial planning
B) Comparing existing businesses
C) Sales forecasting
D) Setting goals and objectives
E) Identifying strategies and how to implement them
If negotiations fail, what can a company choose to use to prevent union employees from
coming to work?
A) Wildcat strike
B) Lockout
C) Strikebreaker
D) Economic strike
E) Bailout
Which of the following organizational aspects allows employees to perform capably
without the direction of a leader?
A) Leadership neutralizers
B) Leadership substitutes
C) Leadership incentives
D) Leadership guidelines
E) Leadership obstructions
Which of the following is federally licensed to borrow money from the Small Business
Administration to invest in or lend to small businesses?
A) SCORE
B) SBICs
C) SBDC
D) FDIC
E) SEC
An inward belief about something, often without conscious consideration, is frequently
referred to as what?
A) Intuition
B) Risk taking
C) Commitment
D) Discernment
E) Rationality
Which level of management sets general policies, formulates strategies, approves all
significant decisions, and represents the company in dealings with other firms and with
government bodies?
A) Operations managers
B) Production managers
C) Top managers
D) Middle managers
E) First-line managers
What can a CPA do to maintain technical and ethical standards through due care?
A) Update competence through continuing accounting education and improving the
quality of services.
B) Abide by the meaning and intent of the Code when determining the type of services
offered to clients.
C) Be independent from clients when certifying that statements are true and genuine.
D) Promote the public’s confidence in the profession at every opportunity.
E) Serve the public honorably.
Which of the following encourages accounting professionals to create quality internal
controls and financial practices within their organizations?
A) Certified management accountant (CMA)
B) Certified public accountant (CPA)
C) Controller
D) Private accountant
E) Forensic accountant
Which of the following types of structure entails a second chain of command?
A) Divisional
B) Departmental
C) Committee
D) Matrix
E) Team
What is the term used for searching, sifting, and reorganizing pools of data to uncover
useful information?
A) Data warehousing
B) Data access
C) Data tapping
D) Data cleaning
E) Data mining
Which of the following affects the movement of funds between international buyers and
sellers?
A) Buyer’s home country government trade policies
B) Seller’s home country government policies
C) International government policies
D) Currency exchange rates
E) International payment process
Which type of software searches incoming e-mail and data for indications of a known
virus?
A) Malware
B) Firewalls
C) Anti-virus software
D) Routers
E) Spyware
Before the Securities and Exchange Commission allows a firm to issue a public offering
of new securities, what must be filed?
A) Incidents of insider trading
B) A prospectus
C) The firm’s history of reinvesting retained earning
D) A statement of equity financing to be used
E) The firm’s corporate bond rating
In perfect competition, which of the following conditions must prevail?
A) All firms must adhere to cost and pricing standards.
B) The number of firms in the industry must be limited.
C) A single firm is able to influence the price of its product.
D) It is relatively difficult to enter the industry.
E) All firms in a given industry must be small.
Which entity is defined as independent and has little influence on its market?
A) Corporation
B) Joint venture
C) Small business
D) Partnership
E) Government agency
Why do firms conduct product testing?
A) To determine potential profitability of the product
B) To allow for gradual commercialization over time
C) To ensure the prototype meets performance requirements
D) To determine how well the product fits in with the goals of the organization
E) To determine the potential reaction of consumers
Identify the five types of leadership power and explain each.
Identify the four leading causes of wasted time in the workplace as outlined in the text.