CHAPTER 1, 2, 4, 5 PRE LECTURE QUIZZES

Maurice, the marketing head of a nonprofit organization, always begins his presentation on a project by sharing lesser-known facts and figures about the impact of the relevant issue. This helps the members of the audience get a better picture of the importance of the issue and makes them more attentive. Given this information, it can be assumed that Maurice uses _____ to open his presentations.

A startling statistic

Which of the following approaches, which emerged during the marketing era, continues to influence business decisions today as global competition heats up to unprecedented heights?

A consumer focus that permeates successful companies in every department, at every level

In the context of the economic environment of business, which of the following is most likely to reduce the risks of running a business?

A low level of corruption

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

Preston, a luthier, used to own a workshop in the 1750s where he produced handmade musical instruments of high quality. However, due to technological advances, musical instruments started being mass-produced in factories, and Preston's business began to decline. Given this information, it can be assumed that Preston belonged to the _____.

Industrial revolution era

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

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

Denise, the head of the marketing team of a company, holds a team meeting to thank all employees for their active participation in the corporate social responsibility activities organized by the company. While addressing the employees, Denise is careful not to use words such as "young" and "old." Instead, she uses words like "energetic" and "dynamic" to express enthusiasm. Which of the following biases is Denise avoiding in the given scenario?

age bias

In the context of the technological environment of business, which of the following statements is true of online technology?

alternative selling strategies give rise to a more individualized buying experience

When the government takes steps to reduce the risks of starting and running a business, it is most likely to result in:

an increase in free enterprises

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 (e.g., next steps, similar sections, questions).

bulleted list

Melvin and Neil run a pawnshop in their neighborhood. They offer loans to individuals in exchange for personal items of higher or equal value, which are used as collateral. If an individual is unable to repay the loan, Melvin and Neil then sell these items at higher rates. In this scenario, Melvin and Neil's pawnshop is an example of a _____.

business

In the context of factors of production, the synthetic resources that a business needs to produce goods or services are referred to as _____.

capital

Finoret, a petroleum company, was infamous for its wasteful production methods and continuous violation of the emission standards set by the Environmental Protection Agency. However, when the new CEO took over, the company completely changed its environmental philosophy and adopted an eco-friendly technology to minimize the emission of harmful gases. In the given scenario, the company took a step toward decreasing its _____.

carbon footprint

Which of the following practices is recommended for an effective business presentation?

citing trusted sources, specific data, and expert quotations

In the context of the legal and ethical dimensions of business conduct, 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

When writing a high-impact message, one should:

consider how the audience will feel about the message

Angorasia, an Asian country, supports a free market system. The flexible economy of the country makes it fairly easy for new sellers to enter the market, which in turn gives buyers a variety of choices in terms of products and services. Given this information, it can be said that Angorasia supports _____.

consumerism

A capitalist system depends on fair competition among businesses to:

drive higher quality and lower prices

The management of a steel manufacturing company decides to set up a new plant in a rural area. However, this would create waste management issues for the company. On the other hand, the company would incur higher costs if it sets up the plant in another area. The management thus finds itself in a situation where both the actions will have a negative consequence. This scenario exemplifies a(n) _____.

ethical dilemma

George, the CEO of a company, always uses examples from the Bible to convey his messages to his diverse workforce. He also favors employees who can quote verses from the Bible while talking to him. The non-Christian employees of the company, therefore, feel excluded. From the given information, it can be said that George shows _____.

ethnicity bias

Anaida is an entrepreneur who believes in providing equal opportunity to people regardless of their age, gender, race, or religion. She is open-minded and detests the idea of taking advantage of others. In the context of universal ethical standards, Anaida most likely possesses the core value of _____.

fairness

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

fairness

Troboli is a North American country. The total value of all final goods and services produced in Troboli in the last fiscal year was 3.3% more than the year before that. This growth placed Troboli in a better position than most of its allies. In this scenario, the total value of all final goods and services through which the economic condition of Troboli was assessed is known as _____.

gross domestic product

Gormath Inc., a shoe manufacturing company, employs 750 workers to create handcrafted shoes. In the context of factors of production, the employees of Gormath Inc. can be classified as _____.

human resources

Microeconomics focuses on:

individual businesses

In the context of ethical choices, research results from the Ethics Resource Center (ERC) illustrate that:

misconduct by employees rose when they felt that the Great Recession negatively impacted the ethical culture of their company

Denver wants to start an industrial products manufacturing company, but he finds it difficult to enter the market as it is already dominated by a single producer who controls product quality and product prices. Given this information, Denver is unable to enter the market because of the existence of _____.

monopoly

Andrew wants to give some constructive feedback to his superiors about improving the work environment. However, he is reluctant to do so because his supervisors are nonresponsive to team members' queries and suggestions. In the given scenario, Andrew faces a(n) _____.

organizational barrier

Which of the following statements follows the recommended guidelines for picking the right words for business communication?

our team did not hit our sales goal

In the context of the history of American business, during the _____, jobs became more specialized, increasing productivity and lowering costs and prices.

production era

Monclaire, a chain of luxury hotels, uses social media for promotional purposes. It also maintains a dedicated interactive Web page where customers write detailed reviews and discuss their experiences. In the context of the history of American business, Monclaire most likely belongs to the _____.

relationship era

The residents of North Barkminster, a suburb in the European country of Geratow, protest against a large corporation that is newly established in the area. They complain that there has been a rise in respiratory illnesses among the people because of the pollution caused by employee commute following the company's establishment. In this scenario, the residents of North Barkminster are protesting against the company's _____ emissions.

scope 3

The trade union members of a wool manufacturing company are the company's _____.

stakeholders

A cement company decided to modify its production methods to minimize the negative impact of the company's activities on the environment. The company also invested in the purchase of upgraded machinery to implement this plan. In the given scenario, the cement company most likely embraced the idea of _____.

sustainable development

The repayment of the debt by the U.S. federal government is likely to result in an increase in:

taxes

Which of the following communication channels helps your audience benefit from hearing your tone and how it changes through the chat?

telephone conversation

Renault and Renoir, a law firm, is infamous for influencing witnesses with the use of bribes. Because of this corruption, the law firm has won many cases that it would have otherwise lost. In this context, which dimension of the business environment is affected the most?

the economic environment

American culture associates youth with creativity and independence. T or F

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. T or F

true

Planned obsolescence represents a clear violation of social responsibility. T OR F

true

Research done by Edward P. Bailey, noted professor and business communication author, affirms that it is OK to split infinitives in written business communication. T or F

true

In the context of monetary policy, which of the following statements is true of the discount rate?

when the Fed reduces it, interest rates on bank loans tend to fall

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 factors of production, which of the following statements is true of capital?

It does not include money

Mark and Augustine are employees of an advertising firm. Following a personal disagreement, Augustine steals Mark's idea for an advertisement and presents it as his own in a meeting. In this scenario, Augustine is guilty of _____.

an ethical lapse

Diana has to give a presentation on air pollution and its effects at a conference. She begins the presentation by asking the conference participants to imagine themselves carpooling to work instead of using their individual vehicles. This small exercise helps the participants to relate to the topic at hand. In the given scenario, Diana uses _____ to open her presentation.

audience involvement

In 1982, the total expenditure of the government of Kargenia, a European country, exceeded its revenue by a substantial amount. This forced the government of Kargenia to borrow funds to meet its legal obligations. In this scenario, the government of Kargenia incurred a _____ in 1982.

budget deficit

In the context of the business cycle, which of the following statements is true of the period of economic contraction?

consumers shift their buying patterns to more basic products

Homebound, a home decor company, annually donates blankets to various nonprofit organizations. These nonprofit organizations distribute the blankets among the poor. Given this information, Homebound's gesture is an example of:

corporate philanthropy

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

Torino Mex, a men's fashion boutique, is renowned for creating designer clothes for Latino Americans. However, it introduced a new line of designer clothing that especially caters to young Hispanic Americans to widen its customer base. Which of the following dimensions of the social environment is highlighted in this scenario?

diversity

In a business cycle, the _____ is a period of robust economic growth and high employment.

expansion

In the context of codes of ethics, the Johnson & Johnson Credo refrains from:

overpromising financial rewards

In its role as a regulator, the Fed:

oversees mergers and acquisitions.

Identify a true statement about nonverbal communication.

paying attention to a monotone takes more concentration than most people are willing to muster

In the context of supply and demand, which of the following statements is true of the free market system?

people tend to buy more products with lower prices

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 customers

Lint Port, an apparel company, offers personalized customer service in all its stores and engages in post-purchase communication to take feedback from its customers. It also gives gift vouchers with customized messages to its customers on their birthdays. The company values the importance of building long-term customer relationships. In this context, which dimension of the business environment is affected the most?

the competitive environment

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

there will be more loans available

In the context of the diversity in the American population, Caucasians continue to represent the largest chunk of the population at 63%. T or F

true

In the context of the core values identified by the Character Counts organization, being honest, not deceiving, cheating, or stealing, and doing what you say you'll do represent the universal ethical standard of _____.

trustworthiness

Which of the following is a difference between corporate philanthropy and corporate responsibility?

unlike corporate philanthropy, corporate responsibility focuses on the actions of the business itself rather than donations

When using block paragraphs in messages, one should:

use single spacing

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

Herbert, a finance analyst at a company, is asked to deliver a presentation to all employees of the company on the procedure involved in filing tax returns. He ensures to keep the language simple and does not use any financial jargon during the presentation. Instead, he uses commonly known terms to convey the message. Which of the following communication guidelines is Herbert following in the given scenario?

analyze one's audience

In the context of the frameworks developed by experts for reaching ethical decisions, which of the following is one of the key principles of most decision guides?

are the alternative solutions legal?

In the context of planned economies, countries that adopted communism in 1900s developed:

crippling shortages and surpluses

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

Lefrada, a luxury watchmaker, stops production for three months and lays off 30 employees because of a sharp decline in its sales during the period of recession. In the given scenario, the laid off employees are facing _____.

cyclical unemployment

Which of the following statements is true about nonverbal communication?

people communicate through a wide range of facial expressions

Which of the following is a characteristic of entrepreneurs?

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

The clothing industry is an example of monopolistic competition. T or F

true

Fiona, an industrial psychologist, is asked to give a presentation on the benefits of healthy colleague relationships to the employees of a textile company. In her presentation, Fiona uses various technical terms, all related to the subject of psychology, because of which the employees find it difficult to understand her and quickly lose interest in the presentation. In the given scenario, the employees of the textile company face a(n) _____ to communication.

language barrier

Gander, an apparel company, is known to be a profit-hungry company. It lands in a controversy when it comes to light that the company pays almost nonliving wages to the workers in its manufacturing subsidiaries based in developing countries. In the context of business behavior, Gander's business conduct is:

legal but unethical

Ryron Bank, a private bank, introduced Internet banking facilities for its customers after the government demonetized hundred dollar bills. Customers who were reluctant to use credit cards for their daily purchases were enthusiastic about this new option. In this context, which dimension of the business environment is affected the most?

the technological environment

In-person presentation is a communication channel with high channel richness. T or F

true

Social security taxes are a source of revenue for the U.S. federal government. T or F

true

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

true

Which of the following is a difference between the millennial generation and Generation Z?

unlike the millennial generation, Generation Z approaches adulthood planning to work for success