DECA Test Jan. 20

Which of the following is an example of encouragement:

"I BELIEVE IN YOU!" Encouragement is telling someone that you believe in him/her before s/he even begins doing something. It is not congratulating someone on a job well done after s/he completed a task. "I believe in you," therefore, is the only example of proper encouragement because it is given in advance of a person's performance.

Which of the following is a tangible product that a hotel restaurant markets to its patrons:

A BOWL OF SOUP. A bowl of French-onion soup. Hotel restaurants offer services, which include preparing and serving tangible items—food and beverages. Therefore, the bowl of French-onion soup is a tangible product that the hotel restaurant markets. A short wait time and a friendly server who has extensive product knowledge are intangible factors that affect a restaurant patron's dining experience.

You're giving a presentation at your job about the company's sales figures. You want to show how much profit the company has made in each of the past 12 months. Which visual aid should you choose to show this?

A LINE GRAPH Line graphs are best used to show changes (particularly small changes) over time. For example, if you want to demonstrate your company's profit in each of the past 12 months, a line graph would be one effective method. Pie charts are more commonly used to show how categories relate to the whole. A photograph or a video would likely not showcase the data you want to present.

Talia is the marketing director at a resort, and she knows that people usually begin booking their spring break trips in January. Talia wants to regularly promote rate deals in the weeks leading up to this season. What tool would be most beneficial to Talia?

A SOCIAL MEDIA CONTENT CALENDAR A social media content calendar is a way to plan and organize upcoming content for social media. It helps marketers schedule upcoming posts and plan in advance based on important dates and opportunities. Talia could benefit from a social media calendar because it could help her plan in advance to promote her resort during the busy season. Without a calendar, she might miss out on a key promotional opportunity. Search engine optimization, web analytics, and an infographic generator would not necessarily help Talia in this situation.

How have industry structure changes affected the current business environment?

BUSINESS NOW MOVES FASTER THAN EVER. Because of new technologies and other improvements, business now moves at a faster pace than ever before. The manufacturing industry has become more streamlined due to new technologies, and communication has become almost instantaneous. Organizations are becoming more adaptable to stay competitive.

An expensive jewelry store provides computer tablets with a fun jewelry design game to entertain customers' children. The store is

ACCOMMODATING THE NEEDS OF THE PARENTS. By providing kids with a fun activity, the store is helping parents entertain their children so the parents are free to shop. It's not likely that an expensive jewelry store would want to encourage children to visit. There's no indication that the store is planning to develop a jewelry line for kids. Providing an activity for children does not necessarily prevent them from touching displays.

In an effective information management system, all information is

ACCURATE. A business's information management system isn't very helpful if it contains inaccurate information. While it is important for the information to be accessible to the right people, you don't necessarily want everyone to have access. It could be a disaster if just anyone was able to see your company's tax returns, accounting records, or customer lists. While much information in an effective information system is likely to be quantitative or numerical in nature, some information is also bound to be qualitative or based on opinion (e.g., customer comments). Abstract data or words describe things which are not objects and may have different meanings to different people. Although some data may be abstract, other data or information are concrete in nature (e.g., inventory records, sales reports, etc.).

Because changes are always occurring in the hospitality industry, hotel managers must be

ADAPTABLE. Being adaptable is the ability to accept and deal with change effectively. Successful managers are not only adaptable, but they help employees, vendors, and customers adjust to changes, too. Empathetic people have the ability to relate to the feelings, thoughts, and experiences of others. Sincere people are genuine in nature. Expressing empathy and sincerity helps build positive relationships, but these traits do not always relate to adapting to change. Aggressive behavior is conduct based on a willingness to ignore the rights of others and to take advantage of them to achieve personal goals.

A restaurant has been extremely busy, but it does not have room in the budget to hire more staff to keep up with demand. What is one strategy the restaurant could take to keep customers happy during peaks in demand?

ADD A CONSUMER PARTICIPATION OPTION SUCH AS A SALAD BAR One way that restaurants can manage high demand without hiring staff is by including a consumer-participation option, such as a salad bar. This eliminates time spent on preparing and serving salads, as well as keeping customers busy. Only accepting customers who have a reservation might not help because the restaurant will still be busy without enough staff to handle demand. Offering discounts for customers to come back another time is a strategy to shift demand, not necessarily to manage customer experience during peaks in demand. Expanding the restaurant to accommodate more tables is a strategy to be able to handle more customers, but it does not solve the issue if the restaurant cannot hire more staff

Which of the following is a good strategy for resolving a customer service issue:

ALLOW THE CUSTOMER TO EXPRESS HIS/HER FEELINGS Sometimes, frustrated customers want to complain and release anger. Allowing them to express their feelings might help them calm down and make a resolution more likely. Agreeing with a customer's complaints is not a good idea because it undermines the authority of the company. Keeping the conversation in a public space is not a good idea because other employees or customers might hear the conversation, which could damage morale and reputation. Finally, disagreeing with each negative statement is likely to upset the customer rather than helping resolve the conflict.

What can happen when employees do not respect one another's lifestyles?

AN UNCOMFORTABLE WORK ENVIORMENT. Sometimes, employees do not respect each other's lifestyles and discriminate against each other because of them. When this occurs, employees might experience an uncomfortable work environment. This can damage productivity. Language barriers are a result of ethnic or cultural differences, rather than differences in lifestyles. Generational misunderstandings are not a result of disrespecting lifestyle choices.

A company received a negative review on social media. How should the company respond to improve the customer's post-sales experience?

APOLOGIZE AND ATTEMPT TO RECTIFY THE PROBLEM When a company receives a negative review on social media, it should use the platform to publicly acknowledge the customer. This gives the customers the attention and respect they are seeking, as well as demonstrating that the company cares about its customers. The company should not ignore the negative comment because this makes it appear that the customer's opinion does not matter. Replying with a witty comment will not necessarily improve brand image because the customer might feel insulted or belittled. While it is a good idea to gather more information about the problem, it might be wise for the company to do so privately rather than publically in a comment.

You are a hotel event planner in charge of a business conference. One of your guest speakers calls you to explain he is running late and will miss the pre-conference dinner. Instead, he explains, he is going to get something fast to eat on the way to the hotel. He still plans to arrive in time for his scheduled presentation, though. Which of the following would be the best thing for you to do to assist him:

ASK VALET TO HELP HIM WITH PARKING AND LUGGAGE WHEN HE ARRIVES A guest speaker is an important part of a conference, so you should arrange to make his arrival as easy and stress free as possible. He plans to eat something on the way to the hotel, so there's no need to keep his entrée warm. Cancelling his presentation or arranging for a video conference call would not be helpful because the speaker is planning to arrive on time for his speech.

Processing customer payments involves recording cash receipts which increase the business's

ASSETS. When a business receives customer payments, it records the amount of the payment as a receipt of cash. The increase in cash increases the assets of the business. When a business processes customer payments, it credits the customer's account and adds that amount to its cash balance, which is an asset. Recording cash receipts does not increase the business's costs, debts, or liabilities.

Which of the following can be learned from monitoring the sales data of any hospitality and tourism business:

AVERAGE AMOUNT OF SALES PER CUSTOMER. By totaling the amount of all sales and dividing by the number of customers, hospitality and tourism businesses can determine the average amount of sales per customer. Hospitality and tourism employees can use this information as a target amount to work toward attaining and exceeding their sales efforts. The age of customers, the size of their families, and their color preferences cannot be obtained from all hospitality and tourism sales data.

Which of the following is a way that businesses can increase productivity by improving their employees' quality of work life:

BY PAYING FAIR SALARIES. Salaries and wages that workers consider to be fair contribute to the quality of work life. Employees will be more productive when they feel that their earnings are equal to or better than the earnings of others doing the same type of work. Paying fair salaries improves the general conditions in which employees work and often results in an increase in productivity. Businesses' research and development programs help to develop new products and meet customers' needs. Businesses try to operate within the guidelines of government regulations.

What should help businesspeople adapt their communication styles to appeal to clients from other cultures?

BEING PATIENT, FLEXIBLE, AND EMPATHETIC. So that businesspeople don't do something that will offend their clients, they should adapt their communication styles with clients from different cultures. To develop positive relationships with international clients, business people should try to learn as much as they can about their clients' cultures, customs, and social values. Adapting communication styles requires businesspeople to be patient, flexible, empathetic, respectful, confident (but not overly so), honest (transparent), and sensitive to their clients' cultures and customs. Projecting biased, demanding, manipulative, or indifferent attitudes may offend the clients.

A luxury resort in the Grand Cayman Islands maintains a special section on its website for couples who are planning a destination wedding and/or honeymoon. This is an example of a hospitality business segmenting a market by

BEHAVIOR. When segmenting by behavior, marketers consider factors such as the market's product knowledge, purchasing habits, and responses to products. Occasion segmentation classifies buying behavior by important events such as birthdays, holidays, and weddings. Geographics involves segmenting a market by location. Psychographic segmentation is the division of a market on the basis of consumers' lifestyles and personalities. Demographic segmentation considers factors such as income, education, age, and gender.

What is a primary responsibility of a company's financial function?

CASH MANAGEMENT. Finance is the process of obtaining funds and using them to achieve the goals of the business. An important aspect of the finance function is managing the cash that flows into and out of the business. Product sourcing, materials allocation, and sales forecasting are not primary responsibilities of a company's financial function.

Carl wanted to make a good impression on his boss, so when he completed a task, he would find other things to do. Frequently, Carl made mistakes because he didn't know how to do everything. How can Carl alleviate this problem in the future?

CLEAR THE TASK FIRST WITH THE SUPERVISOR. When the task is complete is too late to inform the supervisor. To ask a coworker when you are stuck is not a good idea because the coworker may not give you correct information. Showing initiative is a good trait, but it will cost the company unnecessary money if it has to correct Carl's mistakes.

Which of the following is an example of an organized labor-relations issue:

COLLECTIVE BARGAINING. Collective bargaining, which is the negotiation of wages and other conditions of employment by a union or other organized body of employees, is an example of an organized labor- relations issue. Employee training, continuing education, and performance reviews are also important workplace activities, but they are not necessarily organized labor-relations issues.

To reconcile cash, which of the following should businesses do:

COMPARE CASH RECEIVED WITH RECEIPTS OR TRANSACTION RECORDS. To reconcile cash, a business should compare the total amount of cash received with the total on transaction records or receipts. For example, if a business wanted to reconcile its cash daily, it would count the amount of money in its cash registers and then look at all the sales receipts to make sure the numbers match. Reconciling cash does not involve any multiplication or division. Simply counting up the cash in cash registers would not be enough to reconcile a business's cash for any given period.

Which of the following situations is most likely to happen during a period of economic expansion:

CONSUMER SPENDING INCREASES. Business cycles, which are the periods of expansion and contraction in economic activities, affect businesses, consumers, and the government. During a period of expansion, unemployment levels drop because businesses are expanding and need workers to perform jobs to support production increases. When people are working, they have income to spend on goods and services, so their spending increases. The government is more likely to delay projects and businesses are more likely to default on loans during the recession and trough phases of the business cycle.

Businesses use technology to build positive customer relations by

CREATING TARGETED MARKETING CAMPAIGNS Businesses use technology to build positive customer relations by identifying valuable customers and creating targeted marketing campaigns to reach them. Calling customers at home, placing pop-up ads online, and sending "junk" emails will create negative customer relations instead of positive ones.

Sunny Side Up Café is a small, family-owned business in a quiet part of town. The restaurant does not accept credit cards—only cash. Which of the following is the most likely reason for the restaurant to refuse credit cards:

CREDIT CARDS HAVE HIGH PROCESSING FEES. When businesses accept credit cards, they are required to give some of the money from each sale they make to several third parties—such as the card provider, the banks that are involved, and various credit-card associations. These processing fees can sometimes make accepting credit cards too expensive for small businesses that sell inexpensive items like breakfast foods. It is unlikely that the café decided to refuse credit cards because the owners are old, because residents never carry credit cards, or due to town restrictions.

Which of the following statements best describes consensus building:

EVERYONE HAS EQUAL POWER. Making a decision by consensus means that each group member has equal power to say "yes" or "no." Consensus is not majority rule or minority rule—in consensus, every group member agrees. Consensus is also not rule by a single leader. Rule by a single leader is considered a dictatorship.

What is the first step to problem solving in a group?

DEFINING THE PROBLEM Understanding and agreeing upon the details of the problem at hand are crucial to eventually developing a feasible and effective solution. This step must be done before any causes or solutions can be discussed. Assessing solutions, determining causes, and implementing solutions are all steps in the group decision-making process, but cannot be done until the problem has been defined.

Jonas is starting a nonprofit organization to save turtles in Mexico. What benefit will Jonas most likely receive from registering as a nonprofit?

FEDERAL TAX BREAK. Nonprofit organizations that are established to benefit society are not generally taxed by the federal government. Dual taxation is the levying of two taxes on the same income, which normally isn't the case for nonprofit organizations. Bank loans are a means of gaining capital funding and are not a benefit of registering as a nonprofit. Dividends are sums of money paid to an investor or stockholder as earnings on an investment. These normally do not apply to nonprofit organizations since they are based on the goal of profit.

Anna is a marketing manager for an upscale resort, and is developing profiles of typical guests who stay at the resort. The best internal source of secondary information for Anna to obtain is

GUEST REGISTRATION RECORDS. Secondary information is information collected by others. Guest registration records are internal sources of secondary information that are collected for one reason and may be used for other purposes, such as for marketing. Guest registration records can provide information about guests' preferences. By knowing this type of information, the resort can customize promotional information for guests. External secondary information is obtained from sources outside the hotel chain, such as competitors' websites, government documents (e.g., census reports), or online industry reports. Airline passenger lists are external sources of information that are often confidential. Room status reports are internal reports that advise hotel personnel which rooms are occupied and which rooms are not occupied.

Servers at the Mountain Top Café often seat customers as well as wait on tables. Unfortunately, the servers are often so busy that they aren't very welcoming or friendly to diners wanting to be seated. Which of the following would help servers focus on their responsibilities as wait staff while also maintaining high service standards:

HIRE A HOST/HOSTESS TO GREET AND SEAT THE DINERS INSTEAD. Rather than expecting the servers to do what are essentially two different jobs—waiting on tables as well as acting as hosts or hostesses, the restaurant should hire a host/hostess instead. The host or hostess could greet diners, interact with them, seat them, and share information about menu specials. Allowing guests to seat themselves does not meet high service standards and can cause confusion among wait staff. Displaying a menu outside does not eliminate the need to interact with customers. Telling customers there's no time to chat creates a rude and unwelcoming atmosphere that does not achieve high service standards.

In order for constructive criticism to be effective, it should be delivered

IN PRIVATE. In order for constructive criticism to be effective, it should be delivered in private. Giving constructive criticism in front of others, such as during a staff meeting, may embarrass the person receiving the criticism. Constructive criticism is given right away. Waiting up to a week to give the criticism is unwise because the message receiver may not remember specific details about the situation. The degree of effectiveness of constructive criticism does not depend much on who gives the criticism (such as a committee). The manner in which the constructive criticism is given to the message receiver is much more important. Constructive criticism is most effective when it is private, thoughtful, nonjudgmental, nonthreatening, immediate, specific, and factual.

Exactly one year ago, Kim's dad gave her a $10 bill. Kim saved the money "for a rainy day." Now, her $10 bill has less buying power than it did a year ago. What caused the decline in the value of Kim's money?

INFLATION. Inflation is an increase in the cost of goods and services. What your dollar buys today won't be the same as what it buys next year. Over the years, the value of money declines. That means that the $10 bill Kim was given last year has less buying power today. Taxes are monies that individuals or businesses must pay to the government. There's no indication that Kim paid taxes on her $10. Globalization is the rapid and unimpeded flow of capital, labor, and ideas across national borders. Unemployment is also known as joblessness. Although taxes, globalization, and unemployment levels can impact the economy, none of the three are the direct cause of the decline in the buying power of Kim's money.

DeMarcus behaves ethically at his job even when no coworkers or supervisors are watching. DeMarcus is displaying

INTEGRITY. Having integrity means acting ethically even when no one is watching. Transparency and viability are also ethical principles, but DeMarcus is not demonstrating them in this example. DeMarcus is not demonstrating greed.

To allow customers to access account information at any time by telephone, businesses often use

INTERACTIVE VOICE RESPONSE SOFTWARE. Many businesses use interactive voice response software to automate their services. When a vendor or customer calls the business, an automated system directs the caller through a series of questions or prompts and guides him/her to the appropriate department or through an activity by processing the caller's verbal response. The software allows callers to process orders or access account information at any time of the day or night. Teleconferencing software allows many callers to communicate simultaneously. Just-in-time is an inventory control method that orders goods just in time for them to be used or sold. Robotics refers to a mass production technique in which robots carry out the repetitive tasks that workers find monotonous and tiring.

A frequent customer is early for his Tuesday appointment with your coworker, Antonio. What should you do or say to the customer?

INVITE TO HIM TO BE SEATED IN THE WAITING AREA. It is important to be friendly and make all visitors feel welcome. Ignoring a visitor can make him/her feel unwelcome. Telling a customer that an associate always runs late or asking for opinions of his performance is unprofessional and may make the visitor feel uncomfortable.

Which of the following is a true statement about globalization:

IT INVOLVES THE FLOW OF IDEAS ACROSS NATIONAL BORDERS. Globalization is the rapid and unimpeded flow of capital, labor, and ideas across national borders. The result is that various regions across the globe now have integrated societies, cultures, and economies—this is due to methods of communication, transportation, and trade becoming faster and more efficient all the time. Globalization involves ideas, people, and culture—much more than just economics. It has had a major impact on the world and everyone in it. Experts agree that the pace of globalization is quickening.

Which of the following individuals is an example of a whistleblower:

JAKE REPORTED THAT HE WITNESSSED A SENIOR MANAGER HARASSING A NEW EMPLOYEE. A whistleblower is an employee who reports unethical or illegal business activity to human resources management, an ethics hotline, or to another authority. Harassment is both unethical and illegal in the workplace and is, therefore, an example of a report that constitutes whistleblowing. Telling human resources management about an annoying coworker, admitting to changing companies because of a boss, and telling a friend about a manager that is too uptight are not examples of whistleblowing.

If trends indicate that more people are booking airline flights to popular destinations, it is likely that

LODGING OCCUPANCY RATES WILL INCREASE. Hospitality and tourism businesses monitor trends. Trends provide hospitality and tourism businesses with information about changes that are occurring in the industry. By knowing about industry changes, hospitality and tourism businesses can adapt so they can effectively compete in the marketplace. Because hospitality and tourism businesses are often interdependent, they will watch trends for various types of businesses within the industry. For example, if more people are booking airline flights to popular destinations, then they will need lodging, which increases the lodging occupancy rates. If more people need lodging, the hotels need to ensure that they have the resources to accommodate the higher number of guests. If more people are traveling, it is likely that they will spend more money at restaurants and that more people will attend or visit area tour attractions. If tourism increases, then the area's unemployment rate will likely decrease because more businesses will be hiring employees to meet the higher demand for hospitality and tourism products.

Laws that prohibit violence against others are an example of which function of the law?

MAINTAINING ORDER is an important purpose of the law. Laws help to control society and set the standards for being a part of civilization. The punishments for breaking the law aim to prevent people from harming themselves, others, or society as a whole. Laws against violence are a part of maintaining order. Laws can also enact social change and resolve disputes, but the prohibition of violence is not an example of these functions. While laws may aim to ensure equality, this is not necessarily a function of law, and it is not relevant to this situation.

One reason why businesses often use databases to analyze information about customers is to

MAKE PREDICTIONS. A database is a collection of facts and information arranged in a logical order so that it can be accessed and used when needed. Businesses often maintain a vast amount of information about customers in databases and analyze the information to make predictions about how customers will respond in the future. For example, businesses might analyze customers' purchases to predict the products they will or will not buy in the future and the amount they are likely to spend. A business might use this information to make changes in its products based on what customers were buying. Businesses use spreadsheet software programs to prepare invoices and manage finances. Businesses use word- processing programs to prepare reports.

Financial planning is important because it can help you

MEET NEEDS AND WANTS. Financial planning helps you meet needs and wants by setting goals and working toward them. It does not help you understand economics and finance. It can help you plan for the future, but it does not help you predict it. Financial planning does not increase your income, but it does help you make the most of it.

What is one downside of using online storage for your business records?

ONLINE STORAGE COMPANIES MAY HAVE PROBLEMS OR GO OUT OF BUSINESS. Although online storage is usually safe, there is always the chance that the company you're relying on may have problems or go out of business. Files are not difficult to access when you use online storage—they are usually very easy to access. Online storage has pros and cons, but it is not more dangerous than keeping physical copies at your office. In fact, online storage can save your files if there is a fire or vandalism at your office. Online storage is typically affordable.

When you are trying to justify your actions to yourself and others, you are

RATIONALIZING. Rationalizing is justifying your actions to yourself or others. It is often a coping mechanism when finance professionals are torn between what they are doing and what they are supposed to do. If you are trying to justify your actions to yourself and others, you are not necessarily voicing your concerns, following a code of ethics, or obeying authorities.

Which of the following is a specific goal:

REDUCING COSTS BY 5 PERCENT. Reducing costs by 5% is a specific goal. It is easy to measure because it states a percentage. Finding more customers, increasing sales, and improving customer satisfaction are all general goals. These are difficult (or impossible) to measure because they are too vague.

What can you do to make sure that you understand what a speaker has just said?

PARAPHRASE THE SPEAKERS MESSAGE Paraphrasing involves restating a message in other words to confirm or clarify its meaning. Maintaining eye contact with the speaker, focusing on details, and anticipating what the speaker will say next are not actions that will ensure that you understand the message.

Just as Ryan is leaving work to get dinner with friends, his coworker asks for help with a project that needs to be finished immediately. Ryan agrees to help his coworker, even though this means he'll be late to meet his friends. Ryan is behaving

PASSIVLY. Passive behavior is conduct in which people fail to exercise their own rights or to respect their own needs. A passive person usually displays an attitude based on the desire to avoid conflict at all costs. When Ryan puts his own needs aside to help a coworker, he is behaving passively. Aggressive behavior is conduct based on a willingness to ignore the rights of others and to take advantage of them to achieve personal goals. Forceful behavior would likely be considered aggressive. Assertiveness is the ability to express yourself, communicate your point of view, and stand up for your rights, principles, and beliefs.

Knowing your strengths and weaknesses can help you

PERFORM BETTER IN YOUR CURRENT JOB. Knowing your strengths and weaknesses gives you the ability to apply your talents where they are best used, which can in turn help you to perform better in your current job. Knowing your strengths and weaknesses will not necessarily ensure that you will make the right decision every time, obtain any job you want to, or receive a raise each year.

Sally is sure she won't like her new coworker, Lily, because Lily is from New England. Sally doesn't know anyone from New England, but she believes people from that region are cold and unfriendly. Sally's attitude is an example of

PREJUDICE. Prejudice is opinions or judgments based on feelings or hearsay, rather than fact. Sally is basing her opinion of her coworker on what she has heard, not on fact. Her prejudice will keep her from feeling empathy for Lily. Thoughtfulness is consideration for others. Generosity is the willingness to give to others. A grievance is a complaint about unfairness.

Free Wheelin' Bus Tours sent an online survey to customers to determine their satisfaction levels with the company's tours. What type of research did the company conduct?

PRIMARY. Primary research involves gathering, recording, and analyzing new information specifically for the purpose at hand. The tour company collected feedback for a specific purpose, which was to determine satisfaction levels with the company's tour products; therefore, the tour company has collected primary research. Secondary research is information that has already been collected for other purposes. Unilateral and bilateral are types of contracts rather than types of marketing research.

Gerry's Burger Barn produces a spoof video on social media that shows its burgers are "so good that cows eat them." The video goes viral and is shown on different sites on the Internet, which was not Gerry's original intent. This would most likely cause a(n) __________ risk.

REPUTATIONAL A reputational risk can do damage to a brand or company by twisting the intent and portraying the company or brand in a negative light. Legal risks include employment, privacy, security, intellectual property, and media risks.

It's appropriate to write a letter of inquiry when

REQUESTING MORE INFORMATION ABOUT A COMPANY When you need to request information or ask a question,you send a letter of inquiry. Letters of inquiry can be written for many different reasons—to request more information about a company, to ask a question about a product, to inquire about a job opening, to ask for advice, to request paperwork, etc. A letter that thanks a potential employer for an interview is a follow-up letter, not a letter of inquiry. When informing employees of a payroll change, you'd likely write a memo. A business report summary is known as an executive summary. This is meant for people who don't have time to read the entire business report, and it's not the same thing as a letter of inquiry.

What is one way that a business can create or enhance place utility?

RESEARCH LOCATIONS WHERE CUSTOMERS EXPECT TO FIND PRODUCTS. To create or enhance place utility, businesses must figure out where customers expect to find products. This way, the business can plan and move the product to the right place—the place where customers will purchase the product, which is likely to be the place where the producer or service provider will make the most sales. Offering customers financial assistance creates possession utility. Ordering or manufacturing products before they are needed creates time utility. Adding new features to existing products creates form utility.

Which of the following causes problems in measuring GDP:

SOME FIGURES USED IN CALCULATING GDP ARE ESTIMATES. While most figures used in GDP computations are reliable, there are some that have to be estimated. This makes it difficult for economists to measure GDP accurately. Not all goods and services are sold. Some are traded for other goods and services in the underground economy, and no records are kept of these transactions. Other goods are kept by producers for their personal use. Transfer payments do not add to the value of GDP because no new wealth is created.

Where in the Microsoft Word word-processing program should you look to determine what page of a document you're on and how many words are in the document?

STATUS BAR. The Status Bar appears at the very bottom of your window and provides such information as the current page and the number of words in your document. You can change what displays on the Status Bar by right-clicking on the Status Bar and selecting the options you want from the Customize Status Bar menu. The Ribbon in Microsoft Word 2007 is used to issue commands. The Ribbon is located near the top of the screen, below the Quick Access Toolbar. The Title Bar displays the title of the document on which you are currently working.

Janet is a busy advertising executive trying to balance her job, family, and social responsibilities. Four days a week, Janet runs on a treadmill for an hour. After her workouts, Janet feels relaxed and focused. Janet's exercise program helps her manage

STRESS. Stress is a mental, physical, or emotional feeling of pressure or tension. When individuals do not effectively manage their stress levels, their work productivity tends to decrease, and they often experience burnout and develop health problems. Individuals can combat stress by getting plenty of rest, using relaxation techniques, and exercising on a regular basis. Running is one of many ways to achieve the health-related benefits of exercise. Exercise can help individuals feel relaxed and focused, which greatly reduces stress. When individuals manage their stress, they can better manage their time and work activities and achieve their goals.

The Houghten Hotel was overbooked and had to turn away an individual with a telephone confirmation. Since the Super Bowl was in town, the individual was forced to stay at the only available hotel which was located in an unsafe part of town. The individual was attacked while sleeping and sued the Houghten Hotel. What is the likely outcome of a lawsuit against the property?

THE PROPERTY WILL BE REQUIRED TO PAY DAMAGES TO THE INDIVIDUAL FOR BREAKING FOR BREAKING A LEGAL CONTRACT reservation is a legal contract that entitles an injured party to compensation when the contract is violated, such as when a property does not follow through with its promise to provide a room. A room reservation does not have to be in writing in order for it to be considered a contract; therefore, the individual is entitled to receive damages. For a property to be considered fraudulent in the eyes of the court, it is necessary to prove that the property overbooks as a rule, rather than as an exception, when a special event is in town. The ability to find a room elsewhere is not grounds for dismissing a case in which an individual is physically harmed as a result of being turned away by the hotel.

One way to resolve conflict with customers in the hospitality and tourism industry is to

UNDERSTAND WHAT GUESTS TRULY WANT In the hospitality and tourism industry, understanding what is truly driving customers' complaints is essential. When you understand what guests want, you can easily fulfill their needs and resolve conflict. Being aware of common triggers of conflict can help prevent conflict rather than resolving it. Hospitality and tourism employees should maintain a positive attitude rather than an authoritative attitude. Finally, hospitality and tourism employees do not always necessarily need to escalate conflict to upper management.

Which of the following is a characteristic of an efficient accounting system:

USER FRIENDLY. An accounting system is the methods and procedures that a business uses in handling its financial information. An efficient accounting system allows the business to retrieve the information it needs quickly and easily. Because most companies use computer-based accounting systems to help them store, track, and retrieve important financial data, it is important for the accounting system's software to be user-friendly, easy to use, and easy to operate. Most companies do not want a lot of people to have access to their financial data, so it is important to keep it secure and accessible for those who need and use the information. Accounting systems require some type of maintenance because people must continuously update the information. Accounting systems do not produce results for the business—they simply store information in an organized way.

A business's managers expected to reduce expenses by four percent last quarter. The financial information, however, shows that expenses were actually reduced by two percent. This is an example of

VARIANCE. Variance is the difference between what's expected to happen and what actually happens. Managers look at variance in financial information as a way to monitor the business's ongoing operations and strategies. Profitability is a business's ability to yield a financial gain. Acquisition means buying another company. A trend is a change or development in a certain direction—one quarter's change in finances would not constitute a trend.

Which of the following is a relevant question for a job applicant to ask during an employment interview:

WHAT TYPE OF TRAINING DO YOU PROVIDE FOR THIS POSITION Relevant questions are types of questions that pertain to the issue at hand. If an applicant is interviewing for a job, the applicant would ask the interviewer questions about the company, job responsibilities, job training, professional development, etc. It would be inappropriate to ask the interviewer about his/her salary, nearby restaurants, and sales- department shortfalls—these questions are irrelevant to the issue at hand.