business

Which of the following is a difference between a C corporation and an S corporation?

A C corporation is double taxed, whereas an S corporation is taxed as a partnership.

Which of the following statements is true of ethics?

Actions that are completely legal can still be unethical.

In the context of international trade, which of the following companies is facing the barrier of legal differences?

An Asian company that can only import a limited amount of crude oil from an Arab country because of international trade restrictions

Which of the following countries most likely has a comparative advantage?

An Asian country that produces quality automobiles with little opportunity cost compared to other countries

is a widely accepted social movement that supports a buyer's right to be informed, to be safe, to choose, and to be heard.

Consumerism

__________is a form of unemployment that involves layoffs during recessions.

Cyclical

According to the video, who was the first new company to move into digital content?

Digi eco system

In the context of monitoring ethics and social responsibility, which of the following is the starting point of a social audit?

Establishing goals

refers to selling products in foreign nations that have been produced or grown domestically.

Exporting

Consumerism is a widely accepted social movement. Which of the following can be considered a consumer's right?

Expressing legitimate complaints easily

Despite their huge populations, China and India represent a much smaller opportunity in terms of size and economic growth.

False

In the context of federal debt, if spending is lower than revenue, the government incurs a budget deficit

False

Is the following statement, true or false According to the Ted Talk video watched this week: Automation of jobs are eliminating jobs in the workforce.

False

Reserve requirement is a rule of the Fed which requires that all of its member banks hold funds which are more than the stated percentage of the deposits held by their customers.

False

The financial assistance offered by the World Bank usually comes in the form of high-interest loans.

False

Which of the following strategies for reaching global markets is a specialized type of licensing?

Foreign franchising

Alfred, a human resource manager at an IT firm, reasons, "Although everyone should be given an equal opportunity, but for once it is fine to give my friend the first shot at the opening in my company because I know he really needs the job." In this context, which of the following statements is most likely true of Alfred?

He views ethics as relative.

Who among the following individuals uses nonverbal communication?

Herbert, who maintains eye contact with his employees while talking to them

Which of the following is an intimidating obstacle that small businesses face?

High health insurance costs

Which of the following is a difference between limited partnerships and limited liability partnerships?

In limited liability partnerships, all the partners actively participate in the management of the company, whereas in limited partnerships, only the general partners actively manage the company

Which of the following communication channels should ideally be used when you need to reach a large audience with an important message?

In-person presentation

Which of the following is a negative factor that affects socialist economic systems?

Inefficiencies and corruption

Which of the following is a difference between inflation and deflation?

Inflation is a period of rising average prices across the economy, whereas deflation is a period of falling average prices across the economy.

The basic mission of the _____ is to promote global economic cooperation and stable growth.

International Monetary Fund

In the context of the strategies for reaching global markets, which of the following is a key risk of foreign outsourcing?

Involvement of social responsibility

In the context of an organization dedicated to promoting corporate social responsibility, which of the following statements is true of measuring a company's success by evaluating a double bottom line?

It accounts for traditional financial indicators, such as earnings.

In the context of creating and delivering successful verbal presentations, which of the following statements is true of dynamic delivery?

It begins and ends with preparation.

In the context of global trade, which of the following statements is true of balance of payments?

It includes foreign borrowing and lending.

Which of the following statements is true of profit in a business?

It is the financial reward that comes from starting and running a business.

In the context of bringing the code of ethics of a company to life, which of the following statements is true when experts try to advocate a forceful, integrated approach to ethics?

It should be ensured that the company's ethics code is both local and global in scope.

Who among the following is most likely to benefit in a case where there is a weak dollar against a euro?

John is an American who exports goods to Europe.

In the context of factors of production, which of the following is a natural resource?

Land

According to this weeks video, which is not a way that a franchise affects the economy?

Lower Quality of Life

According to the video, when asked if globalization was threatened by Brexit and the election of Donald Trump as President of the US, Dick Cheney's response was:

Maybe

Which of the following communication channels should ideally be used when you must communicate lengthy or detailed uncontroversial information? Memos

Memos

_____ are market structures with one company as the supplier of a product because the nature of that product makes a single supplier more efficient than multiple, competing ones.

Natural monopolies

_is a form of communication that does not involve the use words

Nonverbal communication

Which of the following factors is most likely to be covered by the social environment dimension of a business?

Population size

Which of the following scenarios exemplifies a nonverbal communication that is most likely to have a negative impact on the outcome of a conversation?

Rudolph fidgets frequently when he delivers a PowerPoint presentation to his sales team.

The _____ limits conflict-of-interest issues by restricting the consulting services that accounting firms can provide for the companies they audit

Sarbanes-Oxley Act

are local offices—affiliated with the U.S Small Business Administration—that provide comprehensive management assistance to current and prospective small business owners

Small Business Development Centers

Felix lost his job at an investment firm because of downsizing during a period of recession. To keep himself financially stable, he opened a food truck that became a huge success. Which of the following advantages of entrepreneurship initially motivated Felix to start the food truck?

Survival

Which of the following communication channels should ideally be used when the content is uncontroversial and a quick response regarding relatively simple issues is required?

Texting

In the context of the history of American business, which of the following statements is true of the production era?

The assembly line became standard across major manufacturing industries.

In the context of the history of American business, which of the following statements is true of the marketing era?

The balance of power shifted away from producers and toward consumers.

Which of the following is a disadvantage of franchising for a franchisee?

The negative halo effect

Which of the following is a characteristic of entrepreneurs?

They risk their time, money, and other resources to start and manage their business.

In the context of a company's responsibility to the environment, which of the following is the idea behind sustainable development?

To meet the needs of the current generation without harming the ability of future generations to meet their needs

A drawback of communism, which was adopted by some countries in the 1900s, was the inability of people to make basic choices such as where to work or what to buy.

True

A firm that contracts with foreign producers has an obligation to ensure that those factories adhere to ethical standards.

True

According to the video watched for this module,a good graphic invites the eye to dart around to give the message meaning.

True

According to this week's video, lack of familiarity with the local market is one reason why companies choose to franchise

True

Deflation refers to a period of falling average prices across an economy, which is a sign of economic trouble that goes hand-in-hand with very high unemployment.

True

Small businesses often have an advantage in foreign markets where customers want to deal directly with a company's top management.

True

Socialist economies tend to have high taxes, which are designed to distribute wealth more evenly through society.

True

has a high channel richness, and especially with state-of-the-art equipment, it conveys much of the richness of actually being there

Videoconferencing

James is always keen on putting his ideas into action regardless of the outcome. He perfects his craft by trying out different possibilities. If he is dissatisfied with the result, he tries out a different method but does not give up. Which entrepreneurial characteristic is highlighted in the given scenario?

Vision

In the context of ethics and social responsibility in the global arena, which of the following statements is true of a business's responsibility to workers abroad?

When deciding living wages, companies must bring together their own values with the laws of both the United States and their host countries.

A sole proprietorship is a form of business ownership in which

a single owner actively manages the company.

In the event that a large company has to downsize, the middle-aged workers who are laid off find it difficult to find new jobs. When such workers decide to start their own businesses, they:

are called necessity entrepreneurs.

When writing high-impact messages, a _____ is an invaluable tool that you can use to engage your reader's attention whenever you have more than one of anything in your writing.

bulleted list

In the context of legal and ethical dimensions of business conducts, it is illegal but ethical to:

collaborate with other medical clinics to guarantee low prices in low-income counties

The various ways in which a message can be sent, ranging from one-on-one in-person meetings to Internet message boards, are called

communication channels

A(n)__________is a combination of two firms that are in unrelated industries

conglomerate merger

The nonprofit, nonpartisan Character Counts organization has worked with various group of educators and community leaders to establish a set of: Correct!

core ethical values that transcend political, religious, class, and ethnic divisions.

In the context of open market operations, when inflation is a concern, the Fed sells securities to buyers who write checks to the Fed to pay for securities they bought, and the Fed withdraws these funds from banks. With fewer funds, _____.

credit becomes tighter

During a period of inflation in the United States, the Federal Reserve sells treasury bonds. Buyers of these bonds write checks to the Fed, and the Fed cashes these checks from banks. Given this information, the banks will most likely:

cut back on the loans they make.

Small business start-ups are likely to find that getting commercial loans are

difficult because lenders are reluctant to give loans to firms that do not have a track record.

A _____ is a type of franchising arrangement in which the franchisor makes a product and licenses the franchisee to sell it

distributorship

The primary reason people choose to become entrepreneurs is to:

earn more money

An advantage of franchising is

easier access to funding

A(n) _____ is a structure for allocating limited resources.

economic system

In the context of universal ethical standards, being open-minded and not taking advantage of others exemplifies the core value of

fairness

In the context of making a career choice, following one's passion guarantees a fat paycheck.

false

Speed-to-market is the rate at which a company's competitors copy its product innovations.

false

People with an external locus of control

feel buffeted by forces such as random luck.

A(n) _____ is a form of business ownership that offers both restricted responsibility to its owners and flexible tax treatment.

limited liability company

When a business brings in less money than it needs to cover expenses, it incurs a__________.

loss

In low-income countries, a high percentage of entrepreneurs are considered

necessity entrepreneurs

In the context of challenges to effective communication, the term _____ refers to any interference that causes the message you send to be different from the message your audience understands.

noise

In the context of active listening, one of the dos for better listening is the use of

nonverbal communication

A corporation is a separate entity from its owners where the

owners are not personally responsible for the obligations of the company.

A(n)__________is a voluntary agreement under which two or more people act as co-owners of a business for profit

partnership

Trade restrictions were created to

protect national security interests.

In the context of international trade restrictions, _____ are limitations on the amount of specific products that may be imported from certain countries during a given time period.

quotas

In the context of social responsibility,__________include employees and investors who have a personal interest in the performance and actions of an organization

stakeholders

A(n) _____ is a corporation that has limited number of owners that operates under simpler, less formal rules than a C corporation

statutory close corporation

David is the chief executive officer of Grand Rocks Mining Company. He has convinced the company's board of directors to implement a change in the mining procedure. According to the new procedure suggested by David, less resources will be exhausted. This will ensure that the ability of future generations to meet their needs is not harmed because of shortage of natural resources. By agreeing to David's suggestion, Grand Rocks has embraced the idea of

sustainable development

In the context of an acquisition, the firm that is purchased by another firm is called the _____.

target firm

In the context of a business environment, computers, telecommunications, and other digital tools are considered to be part of the _____.

technological environment

uring a period of grave financial crisis in the United States, Congress is pressurized to raise the limit on the maximum amount of money the government can borrow. Congress increases the limit on the condition that it will implement sharp tax hikes and across-the-board spending cuts to compensate for the raise and to ensure that the overall budget deficit decreases. In this scenario, the measures implemented by Congress will most likely create:

the fiscal cliff

Macroeconomics involves the study of:

the gross domestic product of a country.

Buying an established business is a better plan than starting your business from scratch because:

the organizational structure is in place.

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

the social environment

In the context of monetary policy, if the Fed decreases the reserve requirement, _____

there will be more loans available

In this weeks video, the speaker suggested that the function of automation in today's business world is to:

to create wealth by allow us to do more work in less time

During the production era, managers focused mostly on customer satisfaction and not on production efficiency.

true

Value is the relationship between the price of a good or a service and the benefits that it offers its customers.

true

To strike the right tone while writing a business message, it is suggested that an individual:

uses the active voice to facilitate concise communication.

A large film production company merges with a popular sound processing studio, resulting in the formation of a new company out of the two previously independent firms. This is most likely an example of a

vertical merger