Business chapters 1 -4

the largest free marketplace in the world is which of the following

European Union (EU)

each of the following is one component of the external environment EXCEPT which one

Government tax environment

which of the following is the term that reflects the relationship between government and business

Political-legal environment

each of the following is an example of the US government direct regulations EXCEPT which one

US tax codes

which of the following is the defining factor for a company's decision to strictly follow the consumer bill of rights

a belief that a high level of customer satisfaction is good business

Profits are an indicator of which of the following

a business's success

the basic characteristics of an entrepreneur usually include which of the following

a desire to be their own boss

which of the following best describes an entreprenuer

a person who embraces risks and opportunities

which of the following best describes small business

a small business is independent and has relatively little influence in its market

which of the following best describes small business

a small business is independent and relatively little influence in its market

each of the following is true of a sole proprietorship EXCEPT which one

a sole proprietorship organization is complicated and costly

each of the following is one reason why businesses succeed, EXCEPT for which one

abundance of capital

when determining how to organize a small service business, which of the following factors should be considered

advantages and disadvantages of each form of organization

which of the following best describes what is meant by ambiguous laws

ambiguous laws can often be interpreted in different ways

which of the following would be the best entry strategy for an olive oil producer wanting to expand to the global market

become an exporter

Each of the following is a benefit of business Except which one

business improves the quality of education

which of the following does a global marketplace present

business opportunities

which of the following is a factor of production

capital

each of the following is one of the organizational stakeholders for social responsibility, EXCEPT which one

competitors

each of the following is a viable method of starting a small business, with the EXCEPTION of which one

confiscation

each of the following is an example of government intervention to ensure social responsibility to consumers, EXCEPT for which one

consumerism

which of the following is a consideration a small business owner should make before making a commitment to social responsibilty

costs of a social agenda

if a young woman is considering opening her own business, which of the following is most important before she proceeds with her plan

determine if there is a market for her product or service

which of the following is the most significant disadvantage of incorporation

double taxation

which of the following is a key consideration in determining whether a country can achieve a comparative advantage

efficient quality products

which of the following is a government order forbidding exportation and/or importation of a particular product-or even all products- from a specific country

embargo

which of the following represents one of the existing trends for small business start ups

emergence of e-commerce

if the Gross Domestic Product (GDP) in the United States increases, which of the following will probably result

employment levels will increase

each of the following is an entrepreneur's viewpoint on risk, EXCEPT for which one

entrepreneurs focus on possibilities for failure and balk at gambling everything on a new venture

when a company adopts a voluntary recycling program, it focuses on what area of social responsibility

environment

which of the following is true about ethical behavior

ethical behavior is behavior that conforms to what's right and wrong

which of the following would be the best option for obtaining financing for a new business

family and friends

each of the following is a factor of production in the United States, EXCEPT which on

federal corporate tax structure

each of the following is a potential source for small business funding, EXCEPT for which one

federal government subsidy loans

when planning to start a new business, which of the following is one of the first things that should be done

find investors

if rice farmers in Japan feel threatened by the low prices of imported American rice, which of the following should the Japanese government do first

fully analyze the intended and unintended consequences of government intervention on behalf of the rice farmers

prior to making any decisions regarding ethical issues, a manager should first do which of the following

gather all the facts

which of the following would be one of the first considerations before expansion into the global marketplace

gauging international demand for your product

each of the following is TRUE about globalization

globalization has led to a high degree of interdependence

The main purpose of business is to provide

goods and services

each of the following is an element of private enterprises, EXCEPT which one

government regulations

each of the following is a reason for small business failure, EXCEPT for which one

hard work and determination

if a company isn't sure how to handle situations that involve ethics, which of the following should it consider

have a formal code of ethics

each of the following is a contribution by small business, EXCEPT which one

increased union membership

each of the following is a dimension along which people seem to differ across cultures, expect for which one

language

decisions about what to buy and what to sell in the United States are determined primarily by which of the following

laws of supply and demand

each of the following is a reason that China has emerged as a major global market EXCEPT which one

low per capita income

before embarking on a new business venture, which of the following is most important

make sure there is a demand for the product

a company's ethical standards must be reinforced by which of the following

management behavior

each of the following is a condition of national competitive advantage EXCEPT which one

management motivation

each of the following is a popular area for small business concentration, EXCEPT which one

manufacturing

which of the following is true of business practice laws

many business entering new markets encounter problems in complying with stringent regulations and bureaucratic obstacles

which of the following terms refers to two companies to form a new company

merger

which of the following defines the US economic system

mixed market economy

which of the following explains why businesses in Saudi Arabia do not change interest fees

most people in Saudi Arabia practice the religion of Islam

which of the following is the term used to identify the theoretical model explaining why countries engage in international trade

national competitive advantage

companies that choose to enter the global marketplace should have a clear understanding of each of the following EXCEPT which one

national language

the few organizations that do as little as possible to solve social or environmental problems have little regard for either conduct and go to great lengths to deny or cover up wrongdoing and are taking which of the following approaches

obstructionist stance

which of the following is true about cultural impact on international business

people in the united states are uncertainty accepting

each of the following is a category of managerial ethics, EXCEPT which one

personal behavior

which of the following economic systems has the greatest government control

planned economy

which of the following is the determining factor of a country's economic system

political leaders

each of the following is a type of corporation EXCEPT for which one

privately held

the Mcdonald's corporation Ronald Mcdonald house is an example of which of the following approaches to social responsibility

proactive stance

if a company believes the business sector is saturated with competitors, which of the following should it consider

product differentiation

if a business wants to maintain growth in a maturing industry, which of the following should be considered

product diversification

each of the following is true of protectionism, EXCEPT for which one

protectionism is an essential part of free market enterprise

which of the following is one factor that affects the balance of imports and exports between two countries

rate of exchange

each of the following is a determining factor for a personal code of ethics EXCEPT which one

reading a good text on ethics

which of the following is one of the key distinctive competencies of small business

recognizing niche products and niche markets

each of the following is one of today's environmental issues, EXCEPT which one

recycling

which of the following was the major contributor to the narrowing of the trade gap in the US between 2009 and 2010

reduced oil imports

each of the following is an example of a goal of the entrepreneur, EXCEPT which one

reduced workload

each of the following is an approach to social responsibility, EXCEPT for which one

refusal stance

in a pure monopoly, price of a product is determined by which of the following

regulatory body

in a free market economy, the government can influence business behavior by which of the following

regulatory laws

In which of the following ways does a service provider differ from a goods producer

services are produced and consumed simultaneously

which of the following is the main reason most small businesses are in the service sector

services require fewer resources

which of the following is a concept that addresses the overall way in which a business attempts to balance its commitments to relevant groups and individuals in its social environment

social responsibility

which of the following is true about a company's social responsibility

social responsibility is voluntary and not mandated

each of the following is a threat to economic stability, EXCEPT which one

stabilization policies

which of the following refers to the total quantity and quality of goods and services that can be purchased with the currency used in a country's economic system

standard of living

each of the following is a level of international involvement EXCEPT which one

strategic alliance

as gasoline prices increase, which of the following will happen

supply will increase

using renewable resources and managing limited resources responsibility and efficiently in pursuit of a green policy is known by which of the following terms

sustainability

when defining its sense of social responsibility, a firm typically addresses each of the following areas of concern, EXCEPT which one

tax advantages

each of the following is an example of business influencing government, EXCEPT which one

tax incentives

international travel, communications and commerce have been made faster and less costly due to which of the following

technologies

each of the following builds and sustains globalization EXCEPT for which one

the business is failing at home

which of the following best defines globalization

the process of creating an interdependent world economy

which of the following is the best definition of entrepeneurship

the process of seeking business opportunities under conditions of risk

which of the following best defines the term "economic system"

the system for allocating resources

which of the following best describes the entrepreneur of today

today's entrepreneur is seen more often as an open-minded leader who relies on networks, business plans, and consensus

each of the following is an economic indicator EXCEPT for which one

unemployment rate

each of the following is a basic question that should be answered by a business plan EXCEPT which one

use sustainability

which of the following describes a conflict of interest

when an activity may benefit an individual to the detriment of the organization

what is the common term used to describe an employee who discovers and tries to put an end to a company's unethical, illegal, or socially irresponsible actions by publicizing them

whistleblower

a large market for U.S. shrimp exporter imposed a tariff on imported shrimp from the United States. Which of the following should the exporter do

work with the Department of Commerce and members of Congress

which of the following is the cultural reason why most employee incentives in the United States are based on individual performance

Americans are individualistic

If the cost of materials increases, which of the following should the business consider as a result

Analyze all costs and determine whether there is a way to reduce other production costs to offset the increase in materials