Archives: Quiz
Appendix B Though the types of technology used by businesses have changed over the last several decades, the role of business technology has remained remarkably constant
AppB 1. (p. 596) Though the types of technology used by businesses have changed over the last several decades, the role of business technology has remained remarkably constant. 2. (p. 596) In the 1970s business technology was known as data […]
Appendix A 4 Big Johnson charges other firms similar to Moe’s Meats more for the same products and this is beginning to hurt the business of the other firms
239. (p. 584) Which of the following was included in the basic rights of consumers as proposed by President John Kennedy? A. the right to the best price 240. (p. 583) Big Johnson Products charges Moe’s Meats a lower price […]
Appendix A 3 Which of the following holds a company liable for damages caused by a defective product even if the firm was unaware of the defect at the time of sale
191. (p. 574) The Griggs v. Duke Power Company (1971) case established a precedent on the need to use job-related tests in employment practices. Similar court cases have been decided based on this decision. This is an example of: D. […]
Appendix A 2 Requiring that both parties are competent for a contract to be legal protects those who might be unable to protect themselves
101. (p. 580) When each party to a contract provides something of value to the other party, the principle of mutual acceptance has been satisfied. 102. (p. 581) Requiring that both parties are competent for a contract to be legal […]
Appendix A 1 Congress prohibited discrimination against people with physical disabilities when they enacted the Americans with Disabilities Act. This is an example of common law
AppA 1. (p. 574) The executive branch of the government is responsible for overseeing the legal system. 2. (p. 574) The U.S. court system is organized solely at the federal and state levels. FALSE LG: 1 LL: 1 Nickels – […]
Chapter 9 5 Which of the following would be most helpful to a production manager who wanted to determine the minimum time required to complete a proposed project
288. (p. 250-251) ___________ is a technique to analyze the tasks involved in completing a project, to estimate the time needed to complete each task, and to determine the minimum amount of time needed to complete each project. D. GANTT […]
Chapter 9 4 Sylacon Industries, a leading producer of consumer goods, is looking for a site for a new production facility. The company is mainly focusing on sites that are close to major highways
246. (p. 245) __________ is the physical arrangement of resources in the production process. D. RRL LG: 4 LL: 1 Nickels – Chapter 09 #246 247. (p. 245) For services, the facility layout is usually designed to: A. enable the […]
Chapter 9 3 Aaron Nance is a freshman in college who has not yet decided on his major. He is thinking about majoring in operations management and is concerned about job opportunities in this field
180. (p. 235) Overall auto production is the U.S. is expected to __________ over the next several years. A. level out 181. (p. 235-236) Efforts to redesign and rebuild America’s manufacturing base are likely to: A. fade in importance as […]
Chapter 9 2 Materials requirement planning relies on the firm’s balance sheet to make sure that the right quantities of finished goods are produced
97. (p. 245) Facility layout is the function of operations management that considers the physical arrangement of resources (including people) in the production process. 98. (p. 245) For services, facility layout is usually designed to centralize the decision-making process. FALSE […]
Chapter 9 1 Production techniques such as ERP and lean manufacturing are being used by American manufacturers so these manufacturers can become a source of strength to the U.S. economy
c9 1. (p. 234) When General Motors is in trouble it affects the economy of the United States. 2. (p. 234) Today American companies hold 90% of the U.S. auto market. FALSE LG: 1 LL: 1 Nickels – Chapter 09 […]
Chapter 8 5 The widely shared values within an organization that provide unity and cooperation to achieve common goals are together known as the
309. (p. 224) Empowering employees to better serve customers requires __________ front-line employees. A. fewer 310. (p. 224, Dealing with Change box) According to the “Dealing with Change” box in Chapter 8, Mark Hurd recently took over as CEO of […]
Chapter 8 4 JayLo Corporation has experienced rapid growth during their five years of existence. While still relatively small, JayLo is now big enough that Jennifer
269. (p. 215) Springfield National Bank organizes its loan operations based on the market served, such as consumer, small business, and nonprofit organizations. Departmentalization based on ________ allows Springfield to better serve borrowers with different needs. 270. (p. 214) JayLo […]
Chapter 8 3 Trendly Bank is the second largest bank in a big Midwestern city. Trendly has many layers of management. Because of concerns about fraud, theft, and embezzlement
199. (p. 227) The key people in an organization’s grapevine typically have considerable influence in the organization. 200. (p. 224) Trendly Bank is the second largest bank in a big Midwestern city. Trendly has many layers of management. Because of […]
Chapter 8 2 Unfortunately coordinating the efforts of the traditional departments and the company Internet has proven to be difficult and the cause of a loss of market share in many companies.
106. (p. 215) Departmentalization helps develop a creative environment through a group think process. 107. (p. 214) Organizations that utilize departmentalization benefit from improved communication between different organizational departments. FALSE LG: 2 LL: 1 Nickels – Chapter 08 #107 108. […]
Chapter 8 1 The unity of command principle, introduced by Henri Fayol, suggests that all people in an organization should work toward the same objective
c8 1. (p. 206) Many U.S. companies are going through the process of reorganizing. 2. (p. 206) Reorganization will help U.S. automakers become better competitors. TRUE LG: 1 LL: 1 Nickels – Chapter 08 #2 3. (p. 206) In a […]
Chapter 7 5 Ralph Bowley is a first-line manager for the Mizzill Corporation. Although Mizzill has been a fairly traditional company in the past, its top management recently decided to
288. (p. 195) At Livwell Pharmaceuticals, research personnel are told that the company would like to develop at least three new products each year and are given some general information about which types of drugs seem to have the most […]
Chapter 7 4 Which of the following management positions is responsible for getting the right information to other managers to enable them to make better decisions
245. (p. 192) Top managers make less use of __________ skills than supervisory managers. D. empirical LG: 4 LL: 1 Nickels – Chapter 07 #245 246. (p. 190, figure 7.5) The downsizing that has occurred in recent years has __________ […]
Chapter 7 3 When managers determine that an organization is not making sufficient progress toward achieving its goals and objectives and they develop corrective measures, they are involved in
180. (p. 182) How are managers today different from managers in the past? A. Managers today are more likely to reprimand workers. 181. (p. 182) Which of the following statements is the most accurate description of a challenge that is […]
Chapter 7 2 The question of how to organize a firm so that it is more responsive to its stakeholders has been a dominant issue for many firms over the past twenty years
93. (p. 192, figure 7.6) First-line managers typically spend little time on conceptual tasks. 94. (p. 192, figure 7.6) Most of a top manager’s time is devoted to conceptual and human relations tasks. TRUE LG: 4 LL: 1 Nickels – […]
Chapter 7 1 Despite all of the changes in the business environment, the basic way a manager performs his or her job has remained remarkably constant
c7 1. (p. 182) Managers get things done through organizational resources like workers, information, and equipment. 2. (p. 182) The main job of managers today is to watch over people to be sure they do what the manager asks of […]
Chapter 6 4 Employees of small businesses often have greater job satisfaction than do employees of larger firms. One reason for this difference in job satisfaction is that employees of small businesses often
254. (p. 163) When starting a small business, it’s important to remember: A. luck is the critical factor in achieving small business success. 255. (p. 165) ________ are the primary concerns of someone starting a business. A. Human relations and […]
Chapter 6 3 Kenya recently quit a job with a large corporation to start her own business. While she realizes that her decision comes with risk
190. (p. 150) An entrepreneur: A. manages businesses for others. 191. (p. 150) The importance of entrepreneurs to our economy is found in their: A. impact on the political process. B. ability to create jobs for others. C. contributions of […]
Chapter 6 2 Your brother, a family dentist, has opened a new office in your home town. As a business student you know that this type of business experiences both low failure and growth rates
100. (p. 162) Traditionally small business statistics classified the retirement of an owner of a sole proprietorship as a business failure. 101. (p. 161) Small businesses lack the resources to compete directly with big businesses. FALSE Small businesses can often […]
Chapter 6 1 Because of the stress of being in business for yourself, it’s important that entrepreneurs have people around them to help replenish their enthusiasm
c6 1. (p. 150) Entrepreneurship involves accepting the risk of starting and running a business. 2. (p. 150) Entrepreneurship is another name for management. FALSE LG: 1 LL: 1 Nickels – Chapter 06 #2 3. (p. 150) Entrepreneurs are less […]
Chapter 5 Twenty-six years ago, several small vineyard owners in California joined voluntarily to market their grapes and wine in an attempt to get better prices
281. (p. 141) A ___________ is an organization that is owned and controlled by the people who use it—producers, consumers and workers with similar needs who pool their resources for mutual gain. 282. (p. 141) In rural areas electrical power […]
Chapter 5 4 Continental Foods is looking at a possibility of agreeing to a conglomerate merger. A likely reason Continental may be looking at this type of merger is a desire to
247. (p. 133) A merger involving a commercial bakery and a grocery retailer would be an example of a: D. conglomerate merger. A vertical merger involves two firms in different stages of related businesses. The bakery would make bread and […]
Chapter 5 3 According to the Uniform Partnership Act, the three key elements of any general partnership are: A. a board of directors, a written partnership agreement,
180. (p. 121) The limited liability provided to limited partners means that they are not responsible for the debts of the business beyond: D. their total personal assets. LG: 2 LL: 1 Nickels – Chapter 05 #180 181. (p. 122) […]
Chapter 5 2 When Erica Wayne decided to start a business she chose to form it as a corporation. This choice ensures that, as the founder and incorporator of the company
96. (p. 128) When Erica Wayne decided to start a business she chose to form it as a corporation. This choice ensures that, as the founder and incorporator of the company, Erica will remain in control of the firm’s operations […]
Chapter 5 1 A comparison of the three major forms of business ownership shows that sole proprietorships are usually the most difficult type of business to establish
c5 1. (p. 118) The corporation is the most common form of business ownership. 2. (p. 118) The three major forms of business ownership in the U.S. are sole proprietorships, partnerships, and corporations. TRUE LG: 1 LL: 1 Nickels – […]
Chapter 4 4 Cole González is the owner of Timmy’s Treats, a small company that makes organic dog treats. Each year Cole donates a portion of his profits to the Dumb Friends League
206. (p. 107) Many businesses have developed internal procedures to enforce their ethical policies. Which of the following is an example of an outside group urging ethical behavior in businesses? D. foreign trade representatives Investors, environmentalists, customers and union officials […]
Chapter 4 3 In an effort to help employees resist the pressure to make an unethical decision, the Johnston Petroleum Company has communicated their code of ethics statement to their suppliers
167. (p. 96) A(n) ________-based ethics code defines corporate values, creates a supportive environment, and stresses shared accountability among employees. A. social 168. (p. 97; figure 4.3) Compliance-based ethics codes: A. conform to laws and regulations only. B. enable responsible […]
Chapter 4 2 Environmentalists and union officials can both serve as “watchdog” groups regarding how well companies enforce their ethical and social responsibility policies
94. (p. 104) In the long run, a firm’s loyalty to their employees can pay off financially. 95. (p. 104) Getting even is one of the most powerful incentives for good people to do bad things. TRUE LG: 5 LL: […]
Chapter 4 1 People involved in business may be tempted to do something unethical in order to increase sales and profits. However, if they are caught, our legal system will deal harshly with them
c4 1. (p. 90) The Enron scandal illustrates the difference between unethical behavior and illegal behavior. 2. (p. 90) Ethical behavior requires more than following the law. TRUE LG: 1 LL: 1 Nickels – Chapter 04 #2 3. (p. 90) […]
Chapter 3 5 Responding to pressure from political lobbyists representing the steel industry, the U.S. government levies a tax on steel products imported from Europe
289. (p. 76) The keiretsu tradition in Japan serves as a: A. protective tariff. LG: 5 LL: 2 Nickels – Chapter 03 #289 290. (p. 75) Responding to pressure from political lobbyists representing the steel industry, the U.S. government levies […]
Chapter 3 4 Foreigners sometimes comment on the ethnocentric attitudes of U.S. business people. This indicates that American business people
247. (p. 73) __________ determines the value of currency according to supply and demand determined by global currency traders. A. The currency rate 248. (p. 73–74) __________ is the exchange of merchandise or services for other merchandise or services without […]
Chapter 3 3 First Engineering, a large U.S. based mechanical engineering firm, is considering entering the global market. Upon careful analysis of the global market
180. (p. 62) Climate and terrain in several South American countries are conducive to growing coffee efficiently. While other countries can grow coffee, they are not as productive or efficient. This fact would lead you to believe that the South […]
Chapter 3 2 Global trading has been significantly simplified by the introduction of standardized international laws regulating business organizations
95. (p. 72–73) Effective marketing strategies focus on the product and ignore the socio-cultural differences in the global environment. 96. (p. 72) Many U.S. companies fail to think globally. TRUE LG: 4 LL: 1 Nickels – Chapter 03 #96 97. […]
Chapter 3 1 One reason countries trade with other countries is that even technologically advanced nations cannot produce all the products their people want and need
1. (p. 60) There are over 6 billion potential customers in the 193 countries that make up the global market. 2. (p. 60) Importing involves the selling of products to another country. FALSE LG: 1 LL: 1 Nickels – Chapter […]
Chapter 2 4 The nation of Try land has seen the total value of the goods and services it produces increase rapidly over the past year. This would show up most clearly as a
235. (p. 46) The total value of final goods and services produced within a nation’s borders in a given year is known as that nation’s: A. aggregate production quota 236. (p. 46) Three of the major indicators of the economic […]
Chapter 2 3 The freedom of people to decide where they want to work and live, and what they want to buy or sell are basic capitalist rights under
168. (p. 32-34; Making Ethical Decisions box) In the boxed material “Making Ethical Decisions,” the results of Hurricane Katrina were discussed. Adam Smith would suggest that the reason that businesses like Wal-Mart helped the disaster victims was: D. it was […]
Chapter 2 2 The total value of a country’s output of final goods and services in a given year is known as the nation’s gross domestic product
90. (p. 44) Deanne Beardon is a vocal critic of socialism. She likes to point out that in recent years the governments in many socialist countries have cut back on government services and have reduced taxes. Deanne believes that this […]
Chapter 2 1 The study of how society chooses to employ resources to produce goods and services and to distribute them for consumption among various
c2 1. (p. 30) A major part of America’s business success is due to an economic and social climate that allows businesses to operate freely. 2. (p. 30) Global economics and politics have no influence on businesses in the United […]
Chapter 1 4 Kisa is a production manager at Western Widgets, Inc., a manufacturing corporation that sells its products world wide. Thanks in part to Kisa’s efforts
253. (p. 16) To implement a policy of empowerment, the organization sometimes has to restructure so that: A. managers have more responsibility and employees learn to follow directions. 254. (p. 15–16) Which of the following statements about the competitive environment […]
Chapter 1 3 The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm’s
186. (p. 5) The amount of goods and services people can buy with the money they have is called their: A. nominal income. 187. (p. 5) The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose […]
Chapter 1 2 Over the past several years, workers in the small nation of Rain land have enjoyed an increase in the number of holidays and a reduction
97. (p. 15) The databases of a business often include a great deal of information about the firm’s customers. 98. (p. 15) Information in a database allows firms to carry only the products that the local population wants. TRUE LG: […]
Chapter 1 1 The knowledge and skills learned in business courses are seldom relevant to students who work for nonprofit organizations or volunteer groups
c1 1. (p. 4) Any organization that produces a good or service can be classified as a business. 2. (p. 4) Businesses seek to earn a profit by providing goods and services to others. TRUE LG: 1 LL: 1 Nickels […]
Economics Chapter 21 2 If homes owned by real estate agents stay on the market longer and sell for higher prices than homes owned by people who hire real estate agents, this may be evidence of
39. When employers use screening to distinguish high-ability workers from sufficiently numerous low-ability workers, the burden of asymmetric information falls on _________ because they ________ than when employers are well-informed. A. low-ability workers; perform more tasks B. low-ability workers; are […]
Economics Chapter 21 1 When one party to a transaction has more information about the characteristics of the good or service to be trade than does the other party, economists say that information is
1. When one party to a transaction has more information about the characteristics of the good or service to be trade than does the other party, economists say that information is: A. uneven. B. asymmetric. C. imperfect. D. disequilibriated. AACSB: […]
Economics Chapter 20 2 A public recreation area that has become unpleasantly crowded is exhibiting a negative externality that is frequently associated with
33. Your neighbor likes to blast 1970’s rock music and the louder the better. The loud music imposes a cost on you because it disrupts your study of economics. Let D stand for the volume of his music in decibels, […]
Economics Chapter 20 1 affects someone with whom the decision-maker has not engaged in a related market transaction and affects only those individuals engaged in the market transaction
1. An action creates an externality if it: A. does not affect someone with whom the decision-maker has not engaged in a related market transaction. B. affects someone with whom the decision-maker has not engaged in a related market transaction. […]