5.03-5.05 POB

5.05- At PME Company, four employees worked 25 hours a week and produced 4,200 products. What is the total hourly production output?

42

5.05- If three employees each work 35 hours a week and produce a total of 9,765 items, what is their total hourly productivity level?

93

5.03- Three primary factors that affect the organizational structure of a business include interpersonal relationships, tasks, and:

Authority

5.03- If a business is not concerned about social responsibility, it is likely to:

Be a failure

5.03- A U.S. company would decide to offer its products in other countries as a reason to:

Expand to new, untapped markets

5.03- Which affects the business environment because it provides the most options for consumers?

Global competition

5.03- Which is a factor that affects the business environment?

Industry competition

5.04- Which provides government protection of business property?

Patents

5.03- Kim invests heavily in marketing campaign to stimulate sales for her company. What type of management process is this an example of?

Proactive management

5.03- One reason why many small business develop an organizational design that requires a board of directors is because a board usually:

Provides experience that increases the business's credibility

5.03- Business ethics involve considering issues about what is:

Right and Wrong

5.03- A small business owner whose business is a sole proprietorship is planning to "go global." What method for going global would be best to recommend to the small business owner?

Start by hiring an export management company

5.03- Which is an example of ethical business behavior?

Testing products to ensure they are safe to use

5.03- The two main divisions of the trade industry are:

Wholesalers and retailers

5.03- A group of individuals wants to open a museum that will display items from early sellers of the area. The group will charger just enough admission to pay the expenses of operating the museum. Will the museum be a business?

Yes, the business will be a not-for-profit business

5.03- Which is an example of an economic factor that affects the business environment?

business cycle

5.03- Businesses that successfully adapt to current market situations often realize that:

change is an opportunity

5.05- The productivity of an individual worker can be measured by:

dividing the number of customers served by the number of hours an employee worked

5.04- The government can borrow money from the private sector in order to pay the costs of regulation by:

issuing bonds

5.03- The owner of a small company decided to stock a new product. Which business activity should the owner use to inform potential customers about the new product?

marketing

5.05- The formula that is generally used to measure productivity is:

outputs divided by inputs

5.04- One reason that has caused the government's role in business to expand is that:

people's attitudes have changed

5.03- Which factor has aided the most in creating a global business environment?

technology

5.03- Which situation would most likely indicate the need to adapt to changes in the business environment?

the supply of materials used in manufacturing a product has decreased