Intro 2 Business quizzes
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 formally without displaying gender bias?
"Dear Senior Manager of Human Resources"
Determine the variable cost of a pen manufacturing company per pen if its breakeven point is 250,000 pens, selling price of each pen is $5, and the fixed cost per year is $750,000.
$2 The variable cost of the pen manufacturing company is $2 per pen. Breakeven point is given by the following expression, P=FC/(P - VC), where BP= Breakeven point, FC= Totals fixed costs, P= price per unit, and VC= Variable cost Therefore, VC=$5-$750000/$250000=$2 per pen. See 13-6: Pricing in Practice: A Real-World Approach
Scanning your memory for previous experiences with products or brands occurs during which stage of the consumer purchase decision process?
****
in the United States there were 136 million votes cast in the 2016 Presidential election, if you were to conduct a survey that would result in a 95% confidence rate to predict who the American people will vote for their next President in 2020, how many people should a researcher speak to?
****
A reference group that a person wishes to be a member of or wishes to be associated with is referred to as a(n) __________ group.
******
The fixed cost of Brendon Willows, a baseball bat manufacturing company, is $500,000 per year. The cost of wood and labor to manufacture one bat is $5. If the customers pay $25 to buy one bat, how many bats does Brendon Willows need to sell to breakeven?
25,000 Brendon Willows needs to sell 25,000 bats to breakeven. Breakeven point is given by the following expression, BP = FC / p-vc , where BP = Breakeven point, FC = Totals fixed costs, P = price per unit, and VC = Variable cost. Therefore, BP = $500000 / $25 - $ 5 = 25,000 bats. See 13-6: Pricing in Practice: A Real-World Approach
The 80/20 rule suggests that
80 percent of a firm's sales (revenue) are generated from 20 percent of its customers.
Which of the following statements avoids gender bias?
A manager who does not lead by example is a poor manager
According to Maslow's hierarchy of needs theory, social need refers to:
According to Maslow's hierarchy of needs theory, social need refers to:
In the context of entrepreneurs, which of the following statements is a difference between an internal locus of control and an external locus of control?
An internal locus of control involves personal responsibility, whereas an external locus of control does not.
In the context of various funding options for small businesses, which of the following statements is a difference between angel investors and venture capital firms?
Angel investors are wealthy individuals, whereas venture capital firms are companies.
People are born with a need for certain elements necessary to maintain life, such as food, water, air, and shelter. These needs are called:
Biogenic needs
Which country is the largest importer of Cars and Truck to the United States?
Canada
Which of the following is NOT one of the six pillars of character?
College educated
Which of the following statements is true of management skills?
Critical thinking helps managers find value even in an overload of information.
__ is the process of funding ventures by raising money from a large number of investors via the Internet.
Crowdfunding
Which of the following can be considered a business?
Davent, an online shopping portal that offers discounted prices on clothes
Deborah dreams of owning a pub in the heart of the city that she lives in. Deborah has the music, ideas, and menu in place, and the funds required to start the pub. Which of the following suggestions is most likely to help Deborah realize her dream?
Deborah should start from scratch
Lowell runs a unisex salon and has six 10-hour workdays. If a customer requests him to stay open on the seventh day, he always obliges. He also provides home services if requested. Which entrepreneurial characteristic is most likely highlighted in the given scenario?
Energy
What is the most common excuse given by individuals for not acting ethically?
Everybody does it.
The Minnesota Twins, a professional baseball team, wanted to develop creative ways to boost sagging attendance at its ball games. The Twins hired a moderator who, after every home game during the month of July, led informal discussions with groups of 6 to 10 fans to find out what they did and did not like about the baseball team and their experience at the stadium. The discussions were videotaped so that researchers could review the data at a later date and in more detail. What are such informal research discussions called?
Focus groups
Which of the following is a challenge faced by a franchisor?
Following the franchisee's procedures to the letter
In the context of ethics and social responsibility in the global arena, U.S. corporations are forbidden to offer bribes since 1977 under the _____.
Foreign Corrupt Practices Act
Which of the following is a threat that a small business is most likely to face?
High risk of failure
Which of the following is an example of a nonprofit organization?
Hollorg, a community museum that is funded by a trust and is free for public use
In the context of the various roles employees take up in an organization, who among the following are least likely to spend most of their time listening?
Hourly employees
Which of the following is NOT a reason for why countries trade with each other?
Improve their standard of living
Which of the following statements states a core principle of capitalism?
Individuals, innovation, and hard work should be of paramount importance.
_____ involves placing a producer's products in as many stores as possible.
Intensive distribution
Which of the following statements is true of starting a business from scratch?
It is hard to get credit from both lenders and suppliers.
Which of the following statements is true of job enrichment?
It is the creation of jobs with more meaningful content, under the assumption that creative work will motivate employees.
In the context of management, which of the following statements is true of controlling?
It refers to monitoring performance and making adjustments as needed.
n the context of management, which of the following statements is true of controlling?
It refers to monitoring performance and making adjustments as needed.
Which of the following is an advantage of an S corporation?
Its stockholders have limited liability.
Mohit is very passionate about music and opens a recording studio of his own. However, he does not know much about running a business and within a short period, starts running into losses. Therefore, he shuts down the business. Which of the following threats is highlighted in the given scenario?
Lack of knowledge
_____ is a form of communication that does not involve the use words.
Nonverbal communication
Which of the following is a disadvantage of online retailing?
Product delivery takes at least a couple of days
The place a product occupies in consumers' minds on important attributes relative to competitive products is referred to as
Product positioning
In the context of the workforce advantage in the business environment, as the baby boom generation begins to retire, which of the following will likely become a crucial competitive issue in the next decade?
Profitable implementation of speed-to-market strategies
Which of the following statements about psychographics is most accurate?
Psychographics combines psychology, lifestyle, and demographics to uncover consumer motivations for buying and using offerings.
When management's decisions align with social and economic issues, the company is practicing ______________.
Social responsibility
Social security taxes are a source of revenue for the U.S. federal government.
T
Which of the following is an appealing benefit that entrepreneurs enjoy?
The ability to set their own hours
Which of the following factors is likely to create a language barrier to communication?
The use of slang
Jeffery is the owner of a departmental store. He feels that his employees are lazy, greatly dislike work, and will do everything they can to avoid it. Therefore, he thinks that coercing them is the best way to make them work. In this scenario, Jeffery's views are consistent with the assumptions of _____.
Theory X
Adam strongly believes that his employees have a positive attitude toward their work. He sees in them a potential to take risks and a greater capacity for imagination and creativity if motivated by rewards. In this scenario, Adam's views about his employees are consistent with the assumptions of _____.
Theory Y
Which of the following statements is true of successful firms?
They deliver unsurpassed value to their customers
Which of the following is a characteristic of successful entrepreneurs?
Tolerance of uncertainty
Which country is the largest recipient of foreign direct investment?
U.S
Which of the following is NOT a reason for Regional Economic Integration (trade agreements)
_____
As a communication channel, _____ has the highest level of channel richness and is used when the message to be communicated is personal, emotional, or high-priority.
a face-to-face meeting
Lois wants to start an art gallery. However, because of lack of adequate funds, she decides to borrow money from a bank. The bank is hesitant to give money to Lois because it cannot verify whether her business would be able to earn enough profit to repay the borrowed amount within the stipulated period. However, after a thorough research, the bank grants her the money. In the given scenario, Lois uses _____ to fund her business.
a loan
Autocratic leadership tends to be the best option when:
a quick decision is paramount.
In the event that a large company has to downsize, the middle-aged workers who are laid off find it difficult to find new jobs. When such workers decide to start their own businesses, they:
are called necessity entrepreneurs
A _____ is a formal document that describes a business concept, outlines core business objectives, and details strategies and timelines for achieving those objectives.
business plan
Western Transit Bank has 150 automated teller machines (ATMs) across the country. Customers can use these machines to withdraw money, deposit money in their bank accounts, check their account balance, and transfer money to other accounts. These machines enable Western Transit Bank to carry out some of its operations smoothly. In the given scenario, the ATMs of Western Transit Bank can be classified as _____.
capital
Donton Inc. dominates its market section by offering a wide range of office supplies that includes printers, furniture, and cleaning supplies to final consumers. It is evident that Donton Inc. is a _____.
category killer
In the context of management skills, _____ refer to the ability of managers to grasp a big-picture view of the overall organization and the relationship between its various parts.
conceptual skills
The group of brands a consumer would consider acceptable from among all the brands in the product class of which he or she is aware, is referred to as the
consideration or "evoked" set
In a sole proprietorship, any debts the company incurs are:
considered to be the owner's personal liabilities.
The five stages a buyer passes through in making choices about which product and service to buy is called the _________.
consumer purchase decision process
In the context of management planning, _____ refers to planning for unexpected events, usually involving a range of scenarios and assumptions that differ from the assumptions behind the core plans.
contingency planning
Beyond the sheer value of the goods and services they generate, small businesses make a powerful contribution to the U.S. economy in terms of:
creating new jobs.
In the context of goal setting in an organization, the most effective strategic goals are:
defined in clear numerical terms.
In the context of the social environment dimension of business, _____ is the measurable characteristics of a population.
demographics
Small business start-ups are likely to find that getting commercial loans are:
difficult because lenders are reluctant to give loans to firms that do not have a track record.
Many states have passed anti-price gouging laws to:
discourage both businesses and individuals from raising prices after an emergency
Ziffcorp, a laptop manufacturing company, is working on a strategy to deliver its laptops to the students of a university before their new term begins. It is evident that Ziffcorp is working on its _____.
distribution strategy
A capitalist system depends on fair competition among businesses to:
drive higher quality and lower prices.
Penetration pricing is a strategy where:
each individual sale typically yields a tiny profit.
Expectancy theory advocates that:
employees will continue to perform only if they believe that their efforts are recognized.
In the context of prestige pricing, the idea behind skimming pricing is to:
entice price-insensitive consumers to buy high when a product first enters the market.
Jacob is a hardworking employee in a public relations firm. He is very punctual and works ten-hour days. However, he earns less than his colleague who is irregular and works only seven-hour days. When Jacob comes to know of this, he becomes dejected and decides to quit his job. The given scenario exemplifies _____.
equity theory
Each year M. Lloyd Corporation rewards the year's best-performing employee. The reward is based on the individual performance of an employee, his or her level of commitment toward the organization, and his or her crisis management skills. The company gives this reward to encourage other employees to also put in the same kind of effort in their work. In this scenario, M. Lloyd Corporation follows the _____ theory.
expectancy
Secondary data are the
facts and figures that have already been recorded before the project at hand.
In the context of breakeven analysis, _____ remain constant regardless of how many products are sold.
fixed costs
Clara and Sandra collaborate to open a cafe. They come to an arrangement wherein Sandra manages the cafe from Monday to Wednesday, Clara manages it from Thursday to Saturday, and both jointly manage it on Sunday. Both Clara and Sandra share the profits of the business equally while facing a personal liability for any debts or losses that the cafe may incur. In this scenario, Clara and Sandra most likely _____.
have a general partnership
Children's Campground is a summer program for school children. It advertises that there is one counselor for every four children and that several other highly-trained professionals are part of its staff. Children's Campground advertisements indicate that the program relies heavily on its _____ factor to provide its services.
human resources
The U.S. government uses the consumer price index (CPI) and the producer price index (PPI) to evaluate:
inflation
In the context of challenges to effective communication, the term _____ refers to any interference that causes the message you send to be different from the message your audience understands.
noise
Gas stations and fast food that often cluster conveniently at the bottom of freeway ramps are examples of:
place utility.
Claire has just told her best friend, "I'm so glad I bought the Samsung Galaxy S III rather than those other smartphones I was considering. Look at this incredible display, and the battery stays charged forever." Which stage of the consumer purchase decision process is demonstrated by Claire's conversation?
post-purchase behavior
There are five stages in the consumer purchase decision process. The first stage is __________.
problem recognition
The arguments for and against trade restrictions are called _____.
protectionism
People to whom an individual looks as a basis for self-appraisal or as a source of personal standards are referred to as
reference groups
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
Saturn Systems, an electronic goods manufacturer, sells its LED bulbs to Shockwave Enterprise, which in turn sells those bulbs to final consumers. In this scenario, Shockwave Enterprise is a _____.
retailer
A general rule of thumb among marketing researchers is to use __________ first and then collect _________.
secondary data; primary data
In the context of distribution strategies, _____ means placing your products only with preferred retailers.
selective distribution
Sending products by _____ is the least expensive option available to producers.
ship
The obligation of a business to contribute to society is referred to as _____.
social responsibility
In the context of management planning, _____ refers to specific, short-term planning that applies strategic plans to specific functional areas.
tactical planning
According to Maslow's hierarchy of needs theory, social need refers to:
the need to feel connected to others.
Buying an established business is a better plan than starting your business from scratch because:
the organizational structure is in place
The _____ of a firm includes managers who set the overall direction of the firm, articulating a vision, establishing priorities, and allocating time, money, and other resources.
top management
The term _____ refers to the shortfall that occurs when the total value of a nation's imports is higher than the total value of its exports.
trade deficit
An advantage of franchising is the:
training and support provided by the franchisor.
Ronnie is the owner of a pet store and manages the store by himself. Any profit that Ronnie's store earns is:
treated as Ronnie's personal income.
Nestor wants to open a new event management company. Deveon, a multinational company, agrees to fund his business on the condition that Deveon be given 50% ownership in the company. In the given scenario, Deveon is most likely a(n) _____.
venture capital firm
Spade Archer buys surgical knives, scissors, forceps, needle holders, and retractors from a surgical equipment manufacturer and sells them to local hospitals. In this scenario, Spade Archer is a _____.
wholesaler
The assets of Prosian Italia, a marble and granite company, amount to $400 million, and its liabilities add up to $180 million. Based on the accounting equation, Prosian Italia's owners' equity is equal to _____.
$220 million
The owners' equity of Senesta Corp., an event management company, adds up to $23 million, and its liabilities add up to $17 million. Based on the accounting equation, the assets of Senesta Corp. are worth _____.
$40 million Based on the accounting equation, the assets of Senesta Corp. are worth $40 million. According to the accounting equation, Assets = Liabilities + Owners' Equity. Therefore, assets = $17 + $23 = $40 million. See 8-3: Financial Statements:
Chapter
2
Sarcosine Chemicals Corp. issues stock in one of its operating units and sets it up as a separate company called Prussic Corp., with its own board of directors and corporate officers. Sarcosine Chemicals Corp. then distributes the stock in Prussic Corp. to its existing stockholders. Which of the following forms of divestitures does this scenario exemplify?
A spin-of
Kimberly starts a presentation on child safety by sharing that "more than 200 million children today are child laborers, and 73 million of these children are below 10 years. Can we do anything about these numbers?" This makes the audience attentive and responsive throughout the presentation. In the given scenario, which of the following types of hooks does Kimberly use to open her presentation?
A startling statistic
Which of the following practices is recommended for an effective business presentation?
Citing trusted sources, specific data, and expert quotations
Rupert is an individual who believes in contributing to the community by using eco-friendly products. In the context of universal ethical standards, Rupert most likely possesses the core value of _____.
Citizenship
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?
Evaluate your audience
_____ indicate the cash a firm spends, or other assets it uses up, to carry out the business activities necessary to generate its revenue.
Expenses
Ron, an employee of Orifeon Corporation, is involved in various fraudulent activities. His team members find out about Ron's behavior and report it to their manager, Jaden. Jaden decides to discuss this issue with Ron. In this scenario, which of the following communication channels is Jaden most likely to use?
Face-to-face meeting
In the context of universal ethical standards, being open-minded and not taking advantage of others exemplifies the core value of _____.
Fairness
Which of the following statements is true about listening?
For most people, listening is much slower than thinking
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.
In the context of monetary policy, which of the following is a result of an increase in the reserve requirement?
Interest rates begin to rise
Which of the following statements is true of foreign outsourcing?
It drives down the cost of production.
Which of the following statements is true of profit in a business?
It is the financial reward that comes from starting and running a business.
In the context of the strategies for reaching global markets, which of the following statements is true of exporting?
It is the most basic level of international market development.
___ provide analysis and prepare reports and financial statements for their organization.
Management accountants
__ is a market structure with just a single producer completely dominating the industry.
Monopoly
Which of the following is a difference between limited partnerships and limited liability partnerships?
NOT SUREEE>>>>READ THE BOOK In limited liability partnerships, all the partners actively participate in the management of the company, whereas in limited partnerships, only the general partners actively manage the company.
_____ is the profit or loss a firm earns in the time period covered by the financial statement that reports the revenues and expenses.
Net income
__ is a form of communication that does not involve the use words.
Nonverbal communication
When a country produces more of one good, it must produce less of another good (assuming that resources are finite). The value of the second-best choice—the value of the production that a country gives up in order to produce the first product—represents the _____ of producing the first product.
Opportunity cost
Which of the following is an advantage of general partnerships?
Partners capitalize on complementary skills
Which of the following statements is true about nonverbal communication?
People communicate through a wide range of facial expressions
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.
Which of the following is a disadvantage associated with sole proprietorships?
Raising money to finance growth can be tough for business owners.
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
Walid, an IT professional, is known for his perseverance, his self-discipline, and taking accountability for his actions. In the context of universal ethical standards, Walid most likely possesses the core value of _____.
Responsibility
Who among the following is most likely to benefit when the dollar is strong and the euro is weak?
Ron is an American who is touring Europe.
The repayment of the debt by the U.S. federal government is likely to result in an increase in:
Taxes
Which of the following is a characteristic of entrepreneurs?
They risk their time, money, and other resources to start and manage their business.
In the context of factors of production, which of the following statements is true of entrepreneurs?
They thrive in an environment that supports economic freedom.
Which of the following communication channels should ideally be used when the content is uncontroversial and a quick response regarding relatively simple issues is required?
Videoconferencing
Miller is the owner of a restaurant that has several franchises. One of the franchisees owes Miller a sum of $18,000 for the goods that he had bought from Miller on credit. In this scenario, the money owed to Miller is known as _____.
accounts receivable
In the context of balance sheets, assets such as machinery, building, and equipment have a limited useful life, so accountants subtract _____ from the original value of these assets, to reflect the fact that these assets are being used up over time.
accumulated depreciation
In the context of business ethics, _____ refers to a decision that involves a conflict of values.
an ethical dilemma
In the context of balance sheets, resources owned by a firm are known as _____.
assets
The three kinds of basic financial statements that are prepared in financial accounting are:
balance sheet, income statement, and statement of cash flows.
The United States goes through a period of recession because of the continuous decrease in the nation's gross domestic product. The Fed intervenes and improves the situation by reducing the discount rate. This move by the Fed will result in:
banks obtaining funds at a lower cost.
When drafting an email intended for a recipient who is likely to feel positive about it, you should:
begin the email with your bottom line
A textile corporation has two hundred odd stockholders. As it is inconvenient for so many stockholders to manage the company, the stockholders elect a group of individuals to oversee the company's operation and to represent their interests. In this scenario, the stockholders elect a _____.
board of directors
Michael has excellent oratory skills. He is well-spoken and very innovative. However, people are often distracted by his odd mannerisms while speaking, such as his constant foot movement, his slouched posture, and his habit of biting nails. In the given scenario, people get distracted because of _____ to communication.
body language barriers
A college has contracted a construction company to build a bookstore for its new campus. In the context of factors of production, the heavy machinery and equipment used by the contractor in the construction process are referred to as _____.
capital
The economic system of the United States is called _____.
capitalism
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
In the context of economic systems, the two key phases of a business cycle are:
contraction and expansion
The basic rules governing how a corporation is organized and how it conducts its business are known as _____.
corporate bylaws
Companies typically engage in _____ to meet the needs of customers that don't have access to hard currency or credit.
countertrade
In the context of balance sheets, accounts receivable is an example of _____.
current assets
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
A newly appointed government in the United States requests Congress to raise the amount of money that the government can borrow. This borrowed money is intended to be used to cover the costs of the major policies that the government plans to implement. In this scenario, the government has asked the Congress to hike its _____.
debt ceiling
In _____, firms either acquire foreign firms or develop new facilities from the ground up in foreign countries.
direct investment
An advantage of franchising is the:
easier access to funding. training and support provided by the franchisor.
To decide the vocabulary and the complexity of a message, one must know the _____ of the audience.
education level
In the context of the fundamental principles of a free market system, the _____ is associated with the point at which the quantity demanded of a product equals the quantity supplied.
equilibrium price
In the context of global trade, the _____ is a measurement of the value of one nation's currency relative to the currency of other nations.
exchange rate
in a business cycle, the _____ is a period of robust economic growth and high employment.
expansion
As a listener, you are most likely to interpret the maximum meaning from a speaker's:
facial expressions
In the context of codes of ethics, the purpose of a written code is to:
give employees the information they need to make ethical decisions across a range of situations.
In the context of an acquisition, when the acquiring firm buys the target firm despite the opposition of the target's board and top management, the result is called a _____.
hostile takeove
A coal mining company has employed around 250 miners who work 8-hour shifts every day. In the context of factors of production, the miners can be classified as _____.
human resource
In the context of the legal and ethical dimensions of business conduct, embezzling money is:
illegal and unethical
In the context of corporate restructuring, a common objective of a horizontal merger is to:
improve efficiency by eliminating duplication of facilities and personnel
IFGI Life Insurance, an insurance company, is one of the stockholders of a pharmaceutical company. Given this information, IFGI Life Insurance is most likely a(n) _____.
institutional investor
In the context of budgeting, a flexible budget:
is designed to show the appropriate budgeted level of costs for each different level of sales.
A _____ is formed when two or more companies share resources, risks, and profits without actually merging, to pursue specific opportunities.
joint venture
In the context of factors of production, which of the following is a natural resource?
land
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 but unethical
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.
In the United States, people come from such diverse backgrounds that establishing broad agreement on specific ethical standards can be daunting. In this situation, a given country's _____ provides a solid starting point for examining ethical standards.
legal system
To achieve its basic mission of promoting international economic cooperation and stable growth, the International Monetary Fund (IMF):
lends money to member nations.
In the accounting equation, assets are equal to:
liabilities plus owners' equity.
Glossamer Inc., a company owned by George and Alex, faces huge debts and is eventually shut down due to bankruptcy. The company's financial loss affects Alex personally, and his house and other personal assets are seized by the bank. However, George's personal assets are not affected. This is most likely because George is a(n) _____.
limited partner
Chestelle Corporation, a sports equipment manufacturing company, borrows a considerable sum of money as loan from GRJ Bank, a private bank, at a time of financial crisis. The corporation has four years to repay the principal amount along with the interest to the bank. In this scenario, the money that Chestelle Corporation owes the bank represents its _____.
long-term liability
When a business brings in less money than it needs to cover expenses, it incurs a _____.
loss
__ refers to Federal Reserve decisions that shape the economy by influencing interest rates and the supply of cash.
monetary policy
Unity Prax is a manufacturer of bronze sculptures. It obtains copper ore from the Pima County in Arizona. In this scenario, the copper ore obtained by Unity Prax can be classified as _____.
natural resources
Yadira works for an organization whose earnings are exempt from federal and state income taxes. The organization is barred from funding any political campaign. Given this information, Yadira most likely works for a(n):
not-for-profit corporation.
The management of a sugar manufacturing company sets aside a sum of $50,000 in its budget for the purchase of new machinery that would double the production. In the given scenario, the management is in the process of planning the _____ of the company.
operating budget
In the context of international trade restrictions, _____ are limitations on the amount of specific products that may be imported from certain countries during a given time period.
quotas
To bring inflation under control, the Fed:
reduces the money supply.
Ethics refer to:
sets of beliefs about right and wrong.
In the context of barriers to international trade, _____ include differences among countries in language, attitudes, and values.
sociocultural differences
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:
steakholders
An owner of a C corporation is called a _____.
stockholde
The term _____ refers to the quantity of products that producers are willing to offer for sale at different market prices.
supply
In the context of international trade restrictions, _____ are taxes levied against imports.
tariffs
Which of the following communication channels should ideally be used when the content is uncontroversial and a quick response regarding relatively simple issues is required?
texting
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
Albert is the owner of a car service center. As a sole proprietor, any profit that he earns is:
treated as Albert's personal income.
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
Ginnie's, a candy manufacturing company, sees a sudden rise in the consumption of its kiwi-flavored candies. Thus, the company hires more labor and buys additional supplies to increase the production of these candies. In this scenario, the costs incurred by the company for purchasing these supplies and hiring more labor exemplify the company's _____.
variable costs
Lily, a salesperson at a clothing store, observes the department head misbehaving with a customer. She brings the issue to the notice of the store manager, and the offender is immediately dismissed from his job. In this scenario, Lily is a _____.
whistle-blower
The _____ is an international cooperative of 188 member countries, working together to reduce poverty in the developing world.
world trade organisation
