Intro to business study set
Which of the following is the starting point of a social audit?
Establishing goals
The two key phases of a business cycle are:
contraction and expansion.
Balance of payments deficit means that:
money flows out than in.
Janet reasons, "It is wrong to lie. However, it is okay to overstate my expense account on my recent trip because I really need the money, and my company has not given me a raise in the past year." This statement is an example of an employee who is applying _____ to fit the situation at hand.
relative ethical standards
A corporation is a form of business ownership in which:
a business is considered a legal entity that is separate from its owners.
A Franchise Disclosure Document:
contains information about every aspect of the franchise agreement.
In a carve-out, a firm:
distributes the stock of its new company to outside investors.
Pyoiunalek's, a U.S. restaurant chain, markets and endorses its business in Germany by offering buyers the rights to launch and operate the restaurant in their own country. It lends financial and marketing assistance to the buyers. Pyoiunalek's is employing the strategy of _____.
foreign franchising
Research from the Ethics Resource Center (ERC) indicates that organizational culture:
has significant influence on the ethical behavior of individual employees.
Compared to the U.S., China and India have:
higher GDP growth rates.
One reason a firm would consider a _____ merger would be to increase size and market power in its industry.
horizontal
The double bottom line social audit procedure:
measures both a firm's financial performance and its efforts to meet social responsibilities.
Requiring red-tape-intensive import licenses for certain categories is an example of a(n):
nontariff barrier.
A limited partnership is different from a limited liability partnership in that, in a limited partnership:
only the members with unlimited liability are allowed to manage the firm.
One of the major reasons India, China, and the Philippines attract multibillion-dollar investments is that:
they have a large cohort of technically skilled university graduates who work for about one-fifth the pay of comparable American workers.
Broche Technologies, a brand of electronic appliances, develops a new range of refrigerators that do not release chlorofluorocarbons. The company promotes these products as the most eco-friendly refrigerators in the market. In this scenario, Broche Technologies is engaging in _____.
green marketing
In communication, the term _____ refers to any interference that causes the message one sends to be different from the message one's audience understands.
noise
In the context of the barriers to international trade, promoting a "buy national" consumer attitude among local people is most likely a(n) _____.
nontariff barrier
Gimn Sphere, a content development firm, rents a small building and moves its marketing team there to make room for new content developers. The new building is smaller than Gimn Sphere's main office, with smaller cubicles and a poor heating system. The marketing team members are unhappy with the new environment, which directly affects their productivity. In the given scenario, the marketing team is most likely facing _____ to communication.
physical barriers
During the English class, Ingrid was having difficulty paying attention to the presentation given by his professor as the classroom was too cold and his table was creaking. In this case, the cold and the table are both _____ to communication.
physical barriers
Maurice, the marketing head of a nonprofit organization, always begins his presentation on a project by sharing a lesser-known fact about the issue that the project focuses on. 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
Jessica Marshall, the CEO of ABD Oil Drilling Inc., decides to set aside an amount of $10,000 from the company's annual profits to donate to local nonprofit organizations although the company already meets the mandated government requirement of contributing 4 percent of the company's revenue for social benefits. This donation by ABD Oil Drilling Inc. is an example of:
corporate philanthropy.
Countries that adopted communist economics most likely developed:
crippling shortages and surpluses.
Which of the following is a disadvantage of franchising?
The franchisee has no flexibility as it is required to follow the franchisor's procedures to the letter.
Which of the following is a consequence of a corporation being a separate entity from its owners?
The owners are not personally responsible for the obligations of a company.
Identify a true statement about subprime mortgage loans.
They are lent to borrowers with high debt-to-income ratios.
Which of the following is the goal of sustainable development?
To meet the needs of the current generation without harming the ability of future generations to meet their needs
Which of the following instructions should be followed to achieve effective business writing?
Use contractions.
The nonprofit, nonpartisan Character Counts organization has worked with educators, community leaders, and experts to establish a set of:
core ethical values that transcend political, ethnic, class, and religious differences.
Jessica Marshall, the CEO of ANS Oil Drilling Inc., has decided to set aside $10, 000 from the company's annual profit to donate to local nonprofit organizations. This donation is an example of:
corporate philanthropy.
Treslex, a retailer, employs Olympic hopefuls in its stores through the Olympic Job Opportunities Program. It offers athletes full-time pay and benefits for a flexible 20-hour workweek in order to accommodate demanding training schedules. This is an example of _____.
corporate responsibility
Macroeconomics is primarily engaged in the study of:
employment rates in a country.
Critics of the North American Free Trade Agreement (NAFTA) believe Mexico and Canada have contributed to the United States' trade deficit because:
imports from Mexico and Canada have grown faster than exports to these nations.
Microeconomics focuses on:
individual businesses.
A partnership:
is a voluntary agreement under which two or more people act as co-owners of a business for profit.
Transparency International, a leading anticorruption organization, published its yearly index of "perceived corruption" across 168 countries in 2015. Its findings showed that:
the United States scored lesser than most of the European countries in the index of perceived corruption.
Buying the best firms and the best talent has become increasingly competitive. Rivals can be scared off if your firm seems to have limitless resources to spend.
what are Acquisitions?
In a highly risky economic environment, extra cash is always helpful.
what are Emergencies?
When two or more companies join forces—sharing resources, risks, and profits, but not actually merging companies—to pursue specific opportunities.
what are joint ventures?
infrastructure, population, per capita income, economic growth rate, currency exchange rate, and stage of economic development
what are key economic considerations when entering a foreign market?
Access to factors of production reduced risk Inflow of innovation
what are the 3 Key Reasons for International Trade?
Buying products domestically that have been produced or grown in foreign nations.
what could importing possibly mean?
Selling products in foreign nations that have been produced or grown domestically.
what does exporting mean? (this is a hard one)
firms either acquire foreign firms or develop new facilities from the ground up in foreign countries.
what happens during direct investment?
individual economies become more interdependent
what happens when access to technology skyrockets and barriers to trade continue to fall?
this occures when more money flows into a nation than out of that nation.
what happens when the balance of payment surpluses?
Foreign licensing
what involves a domestic firm granting a foreign firm the rights to produce and market its product or to use its trademark/patent rights in a defined geographical area?
Contracting with foreign suppliers to produce products, usually at a fraction of the cost of domestic production.
what is Foreign Outsourcing?
15 year North American Free Trade Agreement that started in 1994
what is NAFTA?
Holding onto cashing and shifting it among subsidiaries can lower a firm's overall tax bill.
what is Tax avoidance?
It supports stable exchange rates
what is a function of the International Monetary Fund (IMF)?
Foreign franchising
what is a specialized type of foreign licensing in which a firm expands by offering businesses in other countries the right to produce and market its products according to specific operating requirements?
the benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources.
what is absolute advantage?
countertrade
what is an International trade that involves the barter of products for products rather than for currency?
diffusion of cell phone rate
what is an indicator of economic growth and determines GDP?
total flow of money into or out of a country.
what is balance of payments a measure of?
A basic measure of the difference in value between a nation's exports and imports, including both goods and services.
what is balance trade?
Authority granted by a domestic firm to a foreign firm for the rights to produce and market its product or to use its trademark/patent rights in a defined geographical area.
what is foreign liscensing
Canada, United States, Mexico
what is largest trading bloc in the world? (holy trinity)
The opportunity of giving up the second-best choice when making a decision.
what is opportunity cost?
National policies designed to restrict international trade, usually with the goal of protecting domestic businesses.
what is protectionism?
Shortfall that occurs when more money flows out of a nation than into that nation.
what is the balance of payments deficit?
INTERNATIONAL MONETARY FUND (IMF)
what is the best lender of last resort?
the EU- European union
what is the largest common market in the world?
balance of payments
what is the measure of the total flow of money into or out of a country.
trade surplus
what is the overage that occurs when the total value of a nation's exports is higher than the total value of its imports?
The European Union
what is the world's largest common market, which is composed of 28 nations and more than half a billion people, and boasts a combined gross domestic product (GDP) of nearly $17 trillion?
It is a powerful tool for gaining customers and products that would not otherwise be available.
what is true of counter trading?
It monitors the provisions of the General Agreement on Tariffs and Trade agreements.
what is true of the World Trade Organization (WTO)?
It extended 100 percent debt forgiveness to some poor countries.
what is true of the debt relief program implemented by the International Monetary Fund (IMF)?
exchange rates
what measures the value of one nation's currency relative to the currency of other nations?
opportunity cost
what refers to the chance of giving up the second-best choice when making a decision?
Identify a true statement about types of money supply.
The M1 money supply includes all currency plus checking accounts and traveler's checks.
Identify a true statement about the economy of the United States.
The economy of the United States is one of the most market-oriented economies in the world.
U.S. corporations are forbidden to offer bribes since 1977 under the _____.
Foreign Corrupt Practices Act
A sole proprietorship is a form of business ownership in which:
a single owner actively manages a company.
Who among the following is most likely to benefit in a case where there is a weak dollar against a euro?
John, an American who exports goods to Europe
In a particular state, many commercial banks struggle to lend money to the borrowers due to lack of money supply. The Fed buys securities from these banks and this creates a smooth flow of money for the banks to conduct their transactions. In this case, which of the following tools has the Fed most likely used to control the money supply?
Open market operations
Which of the following aspects of a limited partnership differentiates general partners from limited partners?
Participation in management of a company
Which of the following is an advantage of general partnerships?
Partners can share the burden of running the business.
Which of the following tools does the Fed use to help protect depositors who may want to withdraw their money without notice?
Reserve requirement
The locals residing near a small chemical factory file a complaint against it for polluting the environment. The owner of the factory learns that if he loses the case, his personal possessions might also be confiscated. Which of the following types of ownership is the factory functioning under?
Sole proprietorship
Identify a true statement about the World Trade Organization (WTO).
The WTO promotes reduction of trade barriers and mediates disputes among members.
Which of the following is a characteristic of limited liability companies (LLCs)?
They are made to pay an annual franchise tax in many states.
Which of the following is the purpose of a written code of ethics?
To provide guidance to help employees make sound ethical decisions across a range of situations
The $700 billion economic bailout plan following the subprime mortgage crisis of 2008 was called the _____.
Troubled Assets Relief Program
The individuals who are elected by stockholders of a corporation to represent their interests are known as _____.
a board of directors
Ethics refers to:
sets of beliefs about right and wrong.
Every year, the members of the managing committee at Willem Inc. systematically evaluate how well the firm meets its ethics and corporate responsibility objectives. This process is referred to as a(n) _____.
social audit
A clothing company, Patagonia, Inc., pledges one percent of its annual revenue to environmental causes around the world. Founders of the company believe they have an obligation to contribute to the world. This is an example of _____.
social responsibility
In challenging business decisions, a true ethical dilemma occurs when:
someone is forced to choose among bad options.
SeeStreet is a company that produces gourmet coffee. Its employees, coffee bean growers who supply raw materials to the company, people who drink the coffee, and the people who live in the community where the company produces the coffee are called SeeStreet's _____.
stakeholders
Consumerism is a widely accepted social movement. Proponents of this movement believe that _____ is a right of all consumers.
the right to be informed
A disadvantage of a general partnership is that:
there is difficulty in withdrawing from the company.
Which of the following statements is true of ethical decisions?
Personal empathy in ethical choices is an important predictor of ethical leadership.
Socially responsible employers:
ensure that hard work, commitment, and talent pay off.
Which of the following actions best demonstrates the practice of corporate responsibility?
A company actively recruits and nurtures U.S. veterans.
Which of the following is a specialized type of licensing?
Foreign franchising
The economic system of the United States is called _____.
Capitalism
_____ includes all business donations to nonprofit groups, including both money and products.
Corporate philanthropy
Companies typically engage in _____ to meet the needs of customers that don't have access to hard currency or credit.
Counter trades
Which of the following is an advantage of sole proprietorship?
Ease of formation
The adherence to ethical standards by foreign producers is at risk.
In the context of the strategies for reaching global markets, which of the following is a disadvantage of foreign outsourcing?
Which of the following is true of a partnership?
It is a formal, long-term agreement
Which of the following is an advantage of limited liability companies?
Limited liability companies can have any number of owners.
legal differences
Mora, an American jewelry manufacturing company, wants to import diamonds from Renoria, an Asian country. However, the officials in charge of the trade in Renoria agree to formalize the transaction only if they are paid a certain amount of money for their personal benefit. Since American businesses are prohibited from offering bribes to any foreign nation, Mora has to look to another exporter of diamonds. In the given scenario, Mora is most likely facing the barrier of _____.
The economy of Suielevia is under severe financial distress. Over the last few months, the economy has gradually picked up and the employment levels are slowly rising back to the normal levels. The consumers are also beginning to engage in regular buying activities. In this case, the economy of Suielevia is currently in the _____ phase of its business cycle.
Recovery
Which of the following is a feature of joint ventures?
Sharing of resources
Identify a true statement about the Fed.
The Fed manages the monetary policy of the United States.
Which of the following is a disadvantage of a sole proprietorship?
The owner is personally liable for the debts of the firm.
Which of the following is a disadvantage of foreign outsourcing?
The risk of poor quality control becomes higher.
Which of the following is an advantage of a C corporation?
The shareholders have limited liability in the firm.
Iris has been told by her boss that the company is planning to lay off some people and that only one employee in her department will be retained. In order to keep her job, Iris has to sabotage the professional image and good work of her colleagues or she will be laid off. This situation is an example of _____.
an ethical dilemma
The nature of work and the work schedule in the animation department of a movie production company differ from that of other departments of the company. Hence, the company decides to branch this department out into a new company by selling the stock to outside investors. In this scenario, the company is using a strategy called a(n):
carve-out.
Venus Corp. operates in many countries. The company has a clearly written mandate for all its contractors abroad. According to this, all contractors must ensure that standardized safety measures are implemented in their factories and workers are made to work for only nine hours in a day. Venus has set a _____.
code of ethics for its vendors
The most socially responsible companies establish _____ for their vendors, setting clear policies for human rights, wages, safety, and environmental impact.
codes of conduct
Red Tide Inc., an electronics manufacturer, merges with Dew Corp., a food brand, to make the firms less susceptible to unfavorable market conditions in any single market. This is an example of a _____ merger.
conglomerate
In the late 1970s, LarceCo, a tea seller, entered the Russian marketplace. LarceCo traded tea-based products for Russian-made vodka because of the lack of a tradable currency in the Soviet Union. This is an example of _____.
countertrade
A _____ is a type of franchising arrangement in which the franchisor makes a product and licenses the franchisee to sell it.
distributorship
Cella, a clothing manufacturer, has licensed Crux Corp. to market and sell its products. This is an example of a _____.
distributorship
Quitor Inc., which is based in the U.S., contracts with Falconnien Suppliers, a small-scale supplier in Taiwan, to manufacture its computers and tablets across the world. This strategy by Quitor Inc. is an example of _____.
foreign outsourcing
Beany Corp. and Kaffe Inc. are leading producers and distributors of coffee beans and have joined together to become the world's largest distributor of coffee. This is an example of a(n)_____.
horizontal merger
Which of the following is true in the context of the steps that need to be taken by top managers in executing the integrated approach to the implementation of a code of ethics in an organization?
They should ensure that the company's ethics code is both local and global in scope.
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 procedures which will reduce the company's impact on the environment in which it operates. This will ensure that the abilities of future generations to meet their needs will not be harmed. By agreeing to David's suggestion, Grand Rocks has embraced the idea of _____.
sustainable development
When the total value of a nation's exports is higher than the total value of its imports, that country has a(n) _____.
trade surplus
Memphis is the owner of a car performance tuning business. As a sole proprietor, any profit he earns is:
treated as Memphis's personal income.
The spectrum of socially responsible behavior of firms may vary from:
no contributions to proactive contributions.
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.
Identify a true statement about balance of payments.
Balance of payments includes foreign borrowing and lending.
Brian has decided to supplement his job application to Wendenlt Corporation with a cover letter to the senior manager of human resources. However, he knows neither the name nor the gender of the senior manager he wishes to address. In this scenario, which of the following is the most appropriate way Brian can address the recipient without displaying gender bias?
"Dear Senior Manager of Human Resources"
Chen has decided to supplement his job application to the Wendell Corporation with a cover letter to the Senior Manager of Human Resources. However, he knows neither the name nor the gender of the Senior Manager. Which of the following is the best way to address the recipient without displaying gender bias?
"Dear Senior Manager of Human Resources"
Ashlee, a human resource manager in a company, wants to introduce some changes in the leave policy of the company. However, the board of directors is reluctant to accept the changes as it feels that the changes will increase the attrition rate of the company. Which of the following communication barriers is Ashlee facing in the given scenario?
A perceptual barrier
Maurice, a project manager, organizes a video conference in his office to discuss a new project with his team. During the meeting, his team members complain that his office is freezing cold and that they are not able to focus on the discussion. Which of the following types of communication barriers is Maurice's team experiencing in the given scenario?
A physical barrier
Which of the following communication channels has the lowest degree of channel richness?
An email
Kenneth prepares a PowerPoint presentation for the board meeting by adding only the essential information and discarding any unnecessary details that could confuse the board members. He ensures to keep his sentences short but not at the expense of completeness. In the given scenario, which of the following communication guidelines is Jeffrey following?
Be concise.
Currency exchange rate
Before entering a foreign market, what is a key factor that should be considered to evaluate the local economic conditions of the country?
In the context of business communication, which of the following is a tip for an excellent email?
Do not assume privacy.
Which of the following tips should be followed in business writing?
End sentences with prepositions when it sounds natural.
Paulina, the CEO of a steel company, invites Joseph, the representative of a potential partner firm, to visit her company. She is careful not to stress on Joseph's religious background as a means to start off a conversation. Instead, she maintains a strictly professional conversation with Joseph and stays neutral to his religious background. Which of the following biases does Paulina avoid in the given scenario?
Ethnicity bias
A manager at Orifeon Corporation has learned that one of his employees has been engaging in fraudulent activities. The team members report to the manager that the employee has been regularly indulging in such fraudulent behavior. Which of the following communication channels should the manager most likely use in communicating this information with the employee?
Face-to-face meeting
Nelson, the CEO of a company, holds a meeting with the board of directors that includes both male and female members. While addressing them, Nelson is careful to use phrases such as "Welcome board members" and "Dear stockholders" instead of solely using "he" or "she." In this scenario, which of the following biases is Nelson avoiding?
Gender bias
Shortfall that occurs when the total value of a nation's imports is higher than the total value of its exports.
What is a trade deficit?
economic difference
In the context of barriers to international trade, what is the variability in the level of infrastructure across nations?
complaints about them can be easy to counter.
In the context of international trade restrictions, nontariff barriers tend to be fairly effective because:
nontariff barrier
In the context of international trade restrictions, offering less-favorable exchange rates to certain importers is a(n) _____.
They don't carry the brand name of the company buying them.
In the context of the various strategies for reaching global markets, what is true of imported products?
They don't carry the brand name of the company buying them.
In the context of the various strategies for reaching global markets, which of the following statements is true of imported products?
foreign outsourcing
In the context of various strategies for reaching global markets, _____ is also referred to as contract manufacturing.
Direct investment
In the context of various strategies for reaching global markets, what strategy represents the deepest level of global involvement?
Which of the following practices should ideally be followed when giving a business presentation?
Including as many key points as possible and reducing the usage of graphs and tables in the body of the presentation.
Which of the following is a negative feature of socialist economic systems?
Inefficiencies and corruption
Identify a true statement about dynamic delivery.
It begins and ends with preparation.
Which of the following statements is true of microeconomics?
It primarily focuses on smaller economic units.
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.
The benefit a country has in a given industry if it can make products at a lower opportunity cost than other countries.
What is comparative advantage?
The finance and marketing departments of a company are required to collaborate on a project. However, the two teams face significant challenges while trying to communicate with each other because of the use of jargon specific to each department. In the given scenario, which of the following communication barriers do the teams face?
Language barriers
While travelling by bus, Fiola is unable to understand Mark's explanation of the concept of the theory of relativity. Mark uses jargon that hampers her from comprehending the concept. Which of the following communication barriers is most likely interfering with Fiola's understanding of the concept?
Language barriers
Which of the following communication channels should ideally be used when you must communicate lengthy or detailed uncontroversial information?
Memos
Which of the following statements is true of the World Trade Organization (WTO)?
Ministers of the WTO meet every two years to address current world trade issues.
Identify the tool that the Fed most frequently uses to expand and contract the money supply in the economy.
Open market operations
Identify the type of communication barrier that arises when operational managers are not allowed to communicate with the senior managers or the top-level management in a firm?
Organizational barrier
_____ measures the change over time in weighted-average wholesale prices, or the prices that businesses pay each other for goods and services.
Producer price index (PPI)
Which of the following scenarios provides an example of nonverbal communication that is most likely to have a negative impact on the outcome of a talk?
Rudolph fidgets frequently when he delivers a Powerpoint presentation to his sales team.
Antonsen Inc., an accounting firm in Texas, follows certain guidelines while providing consulting services to a firm. One such guideline is to limit the services it provides to the firms it audits. The CEO of Antonsen Inc. is also required to certify the validity of the company's financial statements. In this scenario, Antonsen Inc. most likely abides by the requirements of the _____.
Sarbanes-Oxley Act
In the context of creating and delivering successful verbal presentations, which of the following is a tip for dynamic delivery?
Slow down and listen to yourself.
Which of the following is a tip for dynamic delivery?
Slow down, listen to yourself, and stick to your allotted time.
Differences among cultures in language, attitudes, and values.
Sociocultural differences focus on what?
_____ refers to the quantity of products that producers are willing to offer for sale at different market prices.
Supply
Which of the following communication channels helps your audience benefit from hearing your tone and how it changes through the chat?
Telephone conversation
Which of the following should ideally be followed in one's presentation?
Tell the audience the key points before launching into the body of the presentation
quotas
The government of Ledroy Coast, an island country, has imposed restrictions on the number of cars that can be imported in one year from Randavia, a leading car manufacturing country. This has helped the domestic car manufacturers of Ledroy Coast in increasing their market share. Which of the following trade restrictions has the government of Ledroy Coast imposed in this scenario?
Identify a true statement about subprime mortgage loans.
They are lent to borrowers with high debt-to-income ratios.
Which of the following should be followed while making a PowerPoint presentation?
Use pictures and graphics whenever possible.
Which of the following communication channels has a high degree of channel richness?
Videoconferencing
Who among the following is least likely to spend most of their time listening?
Weekly employees
Brazil, Russia, India, and China— the engines of future world economic growth but they aint even that strong
Whats the deal with BRIC countries?
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.
Before beginning her presentation, Niharika told her audience she would answer questions at the end of her presentation. Vincent walked in late during the presentation and began asking her questions. The ideal way for Niharika to handle this is by:
advising Vincent and reminding the audience that there is plenty of time for questions at the end.
Mixter Prix, a multinational company, wants to hire a new salesperson. It posts a job advertisement in a newspaper that states that the company is looking for an older individual who is creative and has a graduate degree in marketing. In the given scenario, Mixter Prix's advertisement shows _____.
age bias
Brian, an industrial psychologist, begins a session on business environment by involving attendees in the conversation by asking them to imagine themselves working in a cramped office with a controlling boss. He then continues his presentation using the responses from the attendees. In the given scenario, Brian uses _____ to open his presentation.
audience involvement
Tanya is planning a presentation on best practices in communication. After much thought, Tanya decides to stick to a few key points. This is because:
audiences can only absorb about two to four main points.
When tax revenue is higher than government expenditures, the government incurs a _____.
budget surplus
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
One of the ways by which companies can show their responsibility toward the environment is by reducing their _____.
carbon footprint
A capitalist system depends on fair competition among businesses to:
drive higher quality and lower prices.
A(n) _____ type of communication channel has the highest level of channel richness and is used when the message is personal, emotional, or high-priority.
face-to-face meeting
The sum of all the money borrowed by the government over the years and not yet repaid is the _____.
federal debt
Denise is a hard worker, but she has always had differences with her boss, Angela. Angela has recently become more demanding and is often unwilling to provide clarification on project requirements. After too many long working days with little or no job satisfaction, Denise walked into Angela's office and submitted her resignation. Denise knows that her résumé is strong and feels confident she will find another job. Denise is now facing _____ unemployment.
frictional
Compared to the United States, China and India have:
higher gross domestic product growth rates.
Cornell Health Care, a renowned American hospital, regularly collaborates with other health-care centers to provide small medical clinics in low-income countries drugs and medical services at lower than normal prices. In this scenario, this practice of collusion by Cornell Health Care is _____.
illegal and ethical
The chairman of a welfare organization asks an employee to head a fundraising activity. The employee, however, embezzles $250,000 from the funds raised from the activity and falsifies financial records. In this scenario, the behavior of the employee is _____.
illegal and unethical
In the context of legal and ethical dimensions of business conducts, embezzling money is:
illegal and unethical.
When Imex Industries, a European product manufacturing company, started a partnership with a foreign product manufacturing company called Munimez Inc., they both suffered in the initial stages of planning and production because of differences in lingual semantics. In the given scenario, both companies most likely faced _____ to communication.
language barriers
A chocolate manufacturing company promoted a high-calorie product without providing complete information about the risks involved in its consumption. In the context of business behavior, the company's business conduct was: legal and ethical.
legal and unethical
A chocolate manufacturing company promoted a high-calorie product without providing complete information about the risks involved in its consumption. In the context of business behavior, the company's business conduct was:
legal and unethical.
Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _____ practice.
legal but unethical
sociocultural differences, economic differences, and legal/political differences
name the 3 Barriers to International Trade?
The employees of Marconium Inc. often feel that they cannot comment on the management of the company even though there is no rule that prevents them from being critical about the management. In the given scenario, the employees of Marconium Inc. are facing a(n) _____.
organizational barriers
Lance sees an advertisement in the paper for a chef's job at a continental restaurant. As he is about to call the restaurant, he sees the fine print at the bottom of the advertisement stating, "Please apply only if you were born in Continental Europe." The advertisement for the chef's job at this continental restaurant is displaying _____.
racial bias
If you encounter a hostile questioner while giving a presentation, you should avoid:
reestablishing eye contact once you have answered the question.
Janet reasons, "It is wrong to lie. However, it is okay to overstate my expense account on my recent business trip because I need the money, and my company has not given me a raise in the past year." In this scenario, Janet is an employee who views ethics as _____.
relative
Universal ethical standards can solve the problem of too many people viewing ethics as__________.
relative
Miguel has an idea for a new project management software application that can enhance the efficiency of his unit's operations. His supervisor has asked him to present his ideas to the entire unit. Miguel is excited about the opportunity, however, he is a little nervous because he has never presented in front of a big audience, such as his project unit. To mitigate his speech anxiety, Miguel should:
remind himself that his project unit wants him to succeed.
Rudolf, a Polish manager in a company based in China, is admired by his colleagues for the way he interacts with people, his considerate nature, and his tolerance toward other cultures. In the context of universal ethical standards, Rudolf possesses the core value of _____.
respect
The trade union members of a wool manufacturing company are the company's _____.
stakeholders
CappaStreet is a company that produces gourmet coffee. The company's employees, the coffee bean growers who supply raw materials to the company, the people who purchase its coffee, and the people who live in the community where the company has its production unit are CappaStreet's:
stakeholders.
An agreement between two or more firms to jointly pursue a specific opportunity without actually merging their businesses. Strategic alliances typically involve less formal, less encompassing agreements than partnerships.
strategic alliance is what? (first level of global environment)
In the context of international trade restrictions, governments tend to use protective _____ to shelter industries that are crucial to the domestic economy.
tariffs
In the context of key economic considerations when entering a foreign market, the energy infrastructure in a country most likely includes _____.
the Internet
When the total value of a nation's exports is higher than the total value of its imports, that country has a(n) _____.
trade surplus
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
The number of key ideas covered in the body of a presentation should be:
two to four, whereas three ideas would be ideal.
Good business writing flows naturally like spoken language. To strike the right tone for any message it is important that an individual:
uses the active voice to facilitate concise communication.
A key to a successful dynamic delivery is to:
vary your voice, expressions, and body language.
A voluntary agreement under which two or more people act as co-owners of a business for profit.
whats a partnership?
Monopolistic competition is a market structure:
with many competitors selling differentiated products.
Which of the following is a true feature of capitalist economies?
Businesses have the right to keep after-tax profit and spend it however they see fit.
Which of the following must be considered when deciding the living wage globally?
Companies must base their decision on their own values and the laws of both the U.S. and their host country.
Which of the following is a duty of a socially responsible organization toward customers?
Delivering value by providing quality products at fair prices
Who among the following is most likely to spend most of their time listening?
Executives
Identify a true statement about oligopoly.
Firms in an oligopoly market structure typically avoid price competition.
Florence talks with a client that can get her firm the next project. She is told by her senior manager that one of the ways to determine whether the client would be interested in doing business is by analyzing whether the client leans forward and shows interest in the conversation. Which of the following forms of nonverbal communication is the senior manager referring to while determining the success of the conversation?
Gestures and posture
Which of the following statements is true about the markets around the world?
India's subscriber base for cell phones has grown explosively over the past five years.
Which of the following is true about consumerism?
It focuses on the duty of business to provide quality products at fair prices.
Which of the following best describes a business format franchise?
It is a broad franchise agreement in which a franchisee pays for the right to use the name, trademark, and production methods of a franchisor.
Identify a true statement about the International Monetary Fund (IMF).
It is a lender of the last resort to nations in financial trouble.
Identify a true statement about comparative advantage.
It is affected by major trade barriers to international trade.
Which of the following statements is true of formation of general partnerships?
It is safer to get everything in writing and to seek expert legal assistance when drawing up an agreement than verbally agreeing.
Identify a true statement about exporting.
It is the most basic level of international market development.
Identify a true statement about macroeconomics.
It is the study of a country's overall economic dynamics.
Identify a true statement about global trade.
It offers companies an invaluable source of new ideas.
Identify a true statement about business communication.
It should seek and understand feedback from the speaker's audience.
Alice, the global marketing director of a multinational electronics manufacturing firm, is assigned the task of expanding her firm in growing new markets. She learns that the labor is expensive and that the technical equipment required for production is unavailable in the international market. In this case, which of the following is most likely affecting the global trade of Alice's firm?
Limited access to factors of production
In the context of barriers to international trade, which of the following is an example of energy infrastructure in a country?
Power plants
Which of the following statements is true of business emails?
Response to emails should be as prompt as possible.
Sloimekia is able to produce more of a particular variety of cloth than its neighboring countries. Sloimekia and its neighboring countries have the same amount of resources for producing this particular cloth. In this case, which of the following is definitely true of Sloimekia?
Sloimekia enjoys an absolute advantage in producing this particular cloth.
_____ include differences among countries in language, attitudes, and values.
Sociocultural differences
Which of the following communication channels should be ideally be used when the content is uncontroversial and a quick response regarding relatively simple issues is required?
Texting
Vieorien, a Swedish company, has allowed Loineker, an American company, the rights to produce Vieorien's products and use the Vieorien trademark. However, Vieorien does not have the authority or the rights to dictate the business operations of Loineker. In this scenario, Loineker is the _____.
licensee
Anne is a manager at a store that sells clothes and accessories for both men and women. She notices that the jeans priced at $120 aren't selling very well. She wants to increase the sales of these jeans before the onset of the next season. She learns that there is direct relationship between the price and the sales of the clothes at her store. The approach Anne should take to achieve this is to _____.
lower the price of the jeans so that demand will increase
Miguel has an idea for a new project management software application that will enhance the efficiency of his unit's operations. His supervisor has asked him to present his ideas to the entire unit. Miguel is excited about the opportunity, but also a little nervous because he has never given a presentation in public before. In order to reduce his speech anxiety, Miguel should _____.
take a sip of water, send himself positive messages, and visualize success
Macroeconomics focuses on:
the major issues facing the national economy that may seem abstract but directly affect an individual's day-to-day life.
A key reason most sole proprietorships remain relatively small is that:
they have limited ability to raise the funds necessary to finance growth.
