Most philanthropic giving in the United States is targeted towards the arts.
System software tells the computer’s hardware how to interact with the software, what
resources to use, and how to use them.
A firm’s capacity depends on both how many people it employs and the number and
size of its facilities.
Marketing concepts can be extended to the promotion of ideas.
There is general consensus within the United States that social responsibility must take
precedence over profits.
Most firms use outside auditors to conduct their social audit.
Services are more tangible, more customized, and more storable than most products.
For an individual to feel equitably treated, his ratio of contribution to return must be the
same as the other individual’s ratio with whom he or she is comparing.
An individual’s personal code of ethics is shaped by his or her life experiences.
The proactive approach to social responsibility argues that profits should not be spent
on social programs.
An organization’s president is usually responsible for the overall performance of the
firm.
International organizational structures are an approach to organizational structure
developed in response to the need to manufacture, purchase, and sell in global markets.
Assets are categorized by the capacity in which they benefit the company.
A business plan demonstrates how an entrepreneur’s business strategy will be
implemented.
Small businesses produce more patents per employee than large patenting firms.
Job rotation is a form of job enrichment.
The range of workers’ attitudes, values, beliefs, and behaviors that differ based on age,
gender, or ethnicity all represent workforce diversity.
The last step in the decision-making process is the selection of the best alternative.
International firms conduct a good deal of their business abroad and may even maintain
overseas manufacturing facilities.
If you have given another company in another country the right to produce your
company’s product, you are engaging in a licensing arrangement.
China functions as a communistic economy and political system.
In a market system, individuals are limited as to what they can buy and in how they can
spend their money.
In a client-server network, the client is typically a customer or supplier.
It is illegal to use any pre-employment test that creates adverse impact.
In addition to wasting users’ time, spam consumes a network’s bandwidth, thereby
reducing the amount of data that can be transmitted in a fixed amount of time for useful
purposes.
Operations capability is a special ability that production does especially well to
outperform the competition.
What constitutes ethical behavior is determined entirely by the individual.
An import is a product made or grown abroad but sold domestically.
Managers with a high degree of risk propensity tend to rely heavily on intuition.
Departmentalization refers to the process of grouping jobs into logical units.
The use of teams can increase motivation and job satisfaction.
The increased demand for knowledge workers will require firms to use extra measures,
such as higher salaries and signing bonuses, to attract qualified employees.
What is the first sale of a company’s stock to the general public called?
A) IPO
B) Going public
C) Par value
D) Venture capital
E) Portfolio
Which of the following buys products in foreign markets and then sells them for resale
in its home country?
A) Importer
B) Exporter
C) Multinational firm
D) International firm
E) Direct foreign investor
Which of the following allows either the employer or the employee to terminate an
employment relationship for any reason and at any time?
A) Quid pro quo
B) The National Labor Relations Act
C) Employment at will
D) The Patriot Act
E) Taft- Hartley
In additional to social networking and viral marketing, how do firms successfully
increase brand awareness?
A) Reintroduction
B) Globalization
C) Rebranding
D) Product placement
E) Packaging
In addition to being one of the fastest modes of transportation for physical goods, what
is the advantage of using air-freight?
A) It allows for the movement of large, bulky items.
B) The routes are fixed and routine.
C) There are lower inventory costs because items do not need storage.
D) It offers economical and reliable delivery for items such as liquids and gases.
E) It offers flexibility for any-distance distribution, is fast, and dependable.
How does an automated teller machine aid in the customer’s ability to conduct
transactions whenever needed?
A) By processing payments in real time, electronically
B) By allowing a customer to have a line of credit until business can be conducted
within regular banking hours
C) By taking deposits and making loans on demand
D) By allowing electronic account related activities every day of the week, 24 hours a
day
E) By transferring funds from the Reserve Bank to meet transaction needs
Why is ethics in accounting practices important?
A) So stakeholders can seek higher return on their investment
B) Accounting methods depend on the veracity of their application.
C) To ensure consistency between firms
D) To allow for uniformity in CPA standards and application
E) To allow multinational firms to understand international investment
What is flextime an example of?
A) Job sharing
B) Job rotation
C) Modified work scheduling
D) Work sharing
E) Modified workplace planning
How is the risk involved in purchasing bonds affected by the bond’s maturity date?
A) The sooner the maturity date, the greater the rate of return is on the bond.
B) The further the maturity date, the less likely a bondholders’ claim will be filed.
C) The sooner the maturity date, the lower the initial offering price of the bond.
D) The further the maturity date, the greater the chance for unforeseen circumstances
that effect the bond.
E) The sooner the maturity date, the greater the chance for significant market changes
that effect the bond.
What type of retailing is mail order or catalog marketing considered to be?
A) Warehousing
B) Telemarketing
C) Nonstore
D) Direct selling
E) Online
During the product life cycle, when do sales begin to slow down even though profit
levels are high?
A) Decline
B) Maturity
C) Introduction
D) Growth
E) Promotion
What type of departmentalization would be most effective for a small or new
organization?
A) Geographic
B) Functional
C) Customer
D) Product
E) Process
What type of utility is practiced by those companies who allow marketers to have a
voice in product design and identifying features customers want?
A) Time
B) Possession
C) Form utility
D) Value
E) Place
Equipment and people are grouped according to function in which type of production
layout?
A) Fixed position
B) Same-steps
C) Custom-products
D) Supply-chain
E) Service
Who invests all of the funds needed for a business but plays no role in its management?
A) Silent partner
B) Sole proprietor
C) General partner
D) Principal
E) Director
The most productive employee in the department doesn’t apply for a job opening they
are well suited for, in spite of an excellent record and the pay and prestige associated
with the new job. The employee believes that the job will go to someone who has more
seniority. Based on expectancy theory, which would explain why the employee doesn’t
apply for the job?
A) The effort-performance issue
B) The rewards-personal goals issue
C) The performance-reward issue
D) Personal goals
E) Family demands
National competitive advantage derives from four conditions, one of which is factor
conditions. What do factor conditions include?
A) Customers, suppliers, and labor
B) Government quotas and subsidies
C) Product quality, productivity, and profits
D) Labor, capital, entrepreneurs, and physical resources
E) Strategies, structures, and rivalries
Which term refers to the total value of all goods and services produced within a given
period by a national economy through domestic factors of production?
A) Standard of living
B) Aggregate output
C) Gross domestic product
D) Gross national product
E) Purchasing power parity
Which of the following gives the correct formula for calculating markup percentage?
A) Sales price/markup
B) Sales price/fixed costs
C) Fixed costs/variable costs
D) Markup/sales price
E) Sales price/variable costs
After a new product is developed, about 9 out of 10 fail for what reason?
A) Cost
B) Minimal marketing efforts
C) Lack of significant difference
D) The product is to regional
E) Failure in FDA testing
What is the shared system of symbols, beliefs, and values of a country known as?
A) Organizational structure
B) Culture
C) Rules
D) Norms
E) Leadership
When a company makes products available conveniently for consumers, based on
where they are, which type of utility is created?
A) Time
B) Form
C) Place
D) Possession
E) Leisure
According to Frederick Herzberg, which of the following is considered a hygiene
factor?
A) Recognition
B) Hours
C) Working conditions
D) Additional time off
E) Added responsibility
Which of the following BEST describes employee-focused leader behavior?
A) Concentration on both the work quality and work quantity of employees
B) Concentration on both the well-being and work quality of employees
C) Concentration on both the satisfaction and work quantity of employees
D) Concentration on both the satisfaction and the well-being of employees
E) Concentration on both the work quantity and the well-being of employees
The amount of money that a government owes its creditors is referred to as that
country’s
A) GDP.
B) national debt.
C) consumer price index.
D) inflation rate.
E) GNP.
When planning for quality, two key elements are
A) speed and dependability.
B) consistency and accuracy.
C) flexibility and accuracy.
D) dependability and flexibility.
E) performance and consistency.
What is the term for the proportion of funds invested in each of several investment
alternatives?
A) Spreading
B) Shorting
C) Margin buying
D) Asset allocation
E) Diversification
Which of the following is a disadvantage of wireless local area networks?
A) There is often a fee to access the hotspot.
B) The network is only available for an area of about 30 miles.
C) The hotspot must be able to utilize the worldwide interoperability for microwave
access system.
D) The connection can be interrupted by walls and beams.
E) There are limited natural-sounding voice interface capabilities.
What is authority given to a decision making body with power beyond that possessed
by any one person?
A) Risk aversion
B) Committee and team
C) Line
D) Matrix
E) Product and labor
What factor of production is used to generate forecasts based on specialized knowledge
and economic data?
A) Economic resources
B) Labor
C) Information resources
D) Entrepreneurs
E) Physical resources
What is the outcome when a corporate raider takes over an organization?
A) The value of assets decreases.
B) Assets are sold off at a profit.
C) The value of the stock increases.
D) The company can be reorganized into a stronger, more productive organization.
E) A hostile takeover is avoided.
Which type of IT threat can spread without a computer user needing to open any
software?
A) Worms
B) Trojan horses
C) Spam
D) Spyware
E) Computer viruses
What does productivity measure?
A) The total value of all goods and services produced by a national economy
B) How much a system produces with the resources needed to produce it
C) How much output is necessary to produce a certain level of demand
D) The standard of living relative to purchasing power parity
E) How much gross national product results from inputs of labor
Explain how current financial institutions can create $342 out of a deposit of $200.
Explain a floating exchange rate.
Explain the principle of mass-customization.
What is the purpose of a written code of ethics?
Why has virtual leadership become an important issue for organizations?
Describe the five most commonly used tools for TQM.
What can managers do to incorporate a scientific approach to management?
What do angel investors receive in return for their investment?
What is the statement of cash flow required by the SEC and why is it required?
What are the two types of sexual harassment as defined by the courts?
What are the benefits of business for society?
What is the difference between an economic recession and an economic depression?
Explain why fluctuations in exchange rates have significant influence on the balance of
trade.
Explain what exchange-traded funds are and how they are tracked.
Product X is just beginning to generate a profit for the first time as the manufacturer
lowers prices slightly and sees a significant increase in sales. At what stage in the
product life cycle is Product X?
Explain how JIT production and lean manufacturing are related.
Outsourcing has led to increasingly global supply chains. Describe three ways that a
more global supply chain might be risky for a company that outsources.
Discuss the three categories of B2B markets.
What are some potential consequences of employees being dissatisfied?
What are the components of the M-1 money supply?