Sharrock study review final

The Family and Medical Leave Act of 1993 allows how many weeks of unpaid, job-protected leave per year?

12 weeks

A wholesaler purchases desk lamps at a price of $10. They set the markup percentage as 25 percent. How much should the wholesaler sell the lamps to a retailer?

12.50

When was the Continental first issued?

1775

When did the Great Depression start?

1929

When was the Ethics Resource Center (ERC) established?

1970s

There are how many foundations to marketing?

4

Which of the following is NOT an example of confidential information in the workplace?

A company's employee handbook

Which of the following is NOT an example of an organization?

A group of friends

Which of the following terms describes retail?

A shoe store

What is a niche market?

A specialized area of sales targeting a specific group rather than the mass

Which of the following statements describes intermediary?

A third party acting as a middleman connecting people and things

Which of the following is NOT a reason for participating in unethical business practices?

Adequate training, background or explanation of company policy

Which of the following accounts for the eight general forms of market competition?

Alternative market structures

Which of the following is an example of a distance retailer which does NOT have a physical location?

Amazon.com

Which of the following describes the business ethical climate in the 1960s?

Anti-war sentiment

Which of the following is true of a non-franchised chain?

Are owned by the company and run by a manager hired by the parent company

Which of the following is an example of an operative employee?

Assembly line worker

What is the principle in which an employee should have only one supervisor to whom he or she is responsible.

Chain of command

Which of the following describes the business action of two or more companies striving to gain customers?

Competition

Anti-trust laws may also be known as which of the following?

Competition laws

Which of the following are protections provided to authors of original works such as literature?

Copyright

Which of the following is a type of business which operates as a separate legal entity?

Corporation

Mark goes to a department store in search of the perfect gift for his son's birthday. Mark is considered to be which of the following?

Customer

Which of the following is NOT one of the considerations when selecting a business structure?

Customers demographics

Which of the following is money borrowed from a business or investment which must be repaid over time with interest?

Debt capital

Which of the following occurs when decisions are made by the individuals who are the closest to the problem?

Decentralization

Which of the following steps in the ethical decision-making process involves devising an accurate problem definition?

Defining the problem

What is the grouping of individuals into departments.

Departmentalization

A torch is featured on the reverse of which of the following types of U.S. coins?

Dime

Which of the following is an example of a middle manager?

Director of marketing

A __________ structure is composed of self-contained units or divisions.

Divisional

Which of the following questions should NOT be taken into consideration when listing all the alternatives and consequences to solve an ethical problem?

Does it really fit my personality?

Which of the following are the unique names which identify Internet sites and businesses?

Domain name

Which of the following is NOT an example of distance retailing?

Door to door retailing

Which of the following is NOT one of the seven pillars of marketing?

Economics

Which of the following is a business ethical issue in the 1970s?

Employee militancy

Which of the following is NOT a type of business ownership?

Entrepreneurship

Which of the following is the money raised by a business or investor in exchange for a share of ownership in the company?

Equity capital

Which of the following types of choices are made based on moral principles and values?

Ethical choices

Which of the following is the rate at which a unit of currency of one country can be exchanged for a unit of currency of another country?

Exchange rate

An organization's products and services are the driving force in accomplishing its purpose.

False

Who sets the monetary policy in the United States?

Federal Reserve

Which of the following is the money or other resources needed to pay for a part or parts of the company?

Finance

Competition thrives in which of the following types of economies?

Free enterprise

Which type of market supports the doctrine of laissez-faire to a certain degree?

Free enterprise

Which of the following types of departmentalization involves grouping of individuals into departments based on different tasks?

Functional departmentalization

A company divides employees into eastern, southern, western and central regions Which of the following describes such departmentalization?

Geographic departmentalization

Which of the following types of currencies was NOT used in the U.S.?

German currency

When did openly selling personal data become popular?

In the 2000's

What structures are laid-back and undefined.

Informal

Which of the following types of organizational structures is normally found in a smaller business with fewer employees?

Informal structure

Which of the following best describes wholesalers?

Intermediaries between manufacturers and retailers

Groups of individuals who invest money in various types of companies in search of making a profit are known as which of the following?

Investors

Which of the following is INCORRECT when making an ethical decision?

Irrelevant and unimportant information should also be included when defining a problem.

Which of the following is an advantage of a divisional structure?

It frees headquarter staff from being concerned with everyday activities

Which of the following is NOT a disadvantage of a simple structure?

It usually costs a lot of money

Fiscal policy is based on which of the following?

Keynesian economics

French term for "let do"?

Laissez-faire

Which of the following is defined as a business in which partners have an unequal share and liability in the business?

Limited partnership

Which of the following is NOT one of the four basic organizational levels?

Lower managers

Which of the following is NOT a tip provided in the segment for naming a business?

Making it difficult to pronounce

Which of the following combines finding a target market and using a marketing mix?

Marketing strategy

Which of the following is an example of party retailing?

Mary Kay cosmetics

A __________ organization structure combines the elements of functional and product-based departmentalization

Matrix

Authority is shared between two supervisors in which of the following types of business structures?

Matrix organization

Money can be used to intermediate the exchange of goods and service. This describes which of the following basic functions of money?

Medium of exchange

Which of the following is the process of issuing loans in small amounts?

Micro lending

Which company was on trial for anti-trust laws in 1998?

Microsoft

According to monetary theory, which of the following is the main driver in changing economic activity?

Money supply

Which of the following terms means "single buyer"?

Monopsony

Which of the following is a disadvantage of a franchise?

Must follow parent company business structure

Which of the following ethical issues is NOT a result of technology advance in the workplace?

Office politics

Means 'few sellers'

Oligopoly

Which of the following is NOT an example of street markets?

Online retailers

Which of the following is the correct order of organizational levels?

Operative employees, supervisors, middle managers, top management

An ____________ is a systematic grouping of individuals which has been brought together to accomplish a goal.

Organization

Which of the following are the grants of intellectual property rights to the inventor?

Patent

Which of the following is a slip of paper which allows the user to make a payment from his or her bank account to a business or individual?

Personal check

Where was the headquarters of the first bank of the United States?

Philadelphia

Which of the following can create a price war?

Price competition

Which of the following types of departmentalization groups activities based on work or customer flow?

Process departmentalization

Effective marketing is difficult because of which of the following?

Producers and consumers are usually separated in several ways

Which of the following types of departmentalization works well for companies with multiple product lines?

Product departmentalization

Which of the following creates markets with large numbers of buyers and sellers exchanging a homogenous product?

Pure competition

Which of the following markets allows all buyers and sellers to know the prices of all other buyers and sellers?

Pure competition

Which of the following is NOT an example of how competition helps consumers?

Raising prices

Which of the following statements best describes negotiation?

Reaching an agreement with retailers on the price of products

Which of the following steps in the ethical decision-making process involves reviewing alternatives and consequences?

Selecting the best choice

Which of the following is NOT one of the functions of a wholesaler in the distribution channel?

Selling products to customers in a store

The Equal Pay Act of 1963 prohibits which of the following types of discrimination?

Sex-based wage discrimination

Which type of economy resembles communism because most resources are government owned?

Socialist

Which of the following is defined as a business which is owned and operated by one individual?

Sole proprietorship

Which of the following does fiscal policy strive to balance?

Tax rates and public spending

Which of the following types of business structures consists entirely of work groups and teams which perform an organization's work?

Team-based structure

Which of the following made the gold dollar the official standard unit of currency?

The Gold Standard Act

Which of the following laws requires one and a half times the regular rate of pay for more than 40 hours worked for qualified employees?

The fair labor standards act of 1938

Which of the following terms describes wholesale?

The sale of products in bulk directly from the manufacturer

How many alternative solutions should be listed when making an ethical decision?

Three

Which of the following laws includes sexual harassment as a form of sex discrimination?

Title VII of the Civil Rights Act of 1964

Words, symbols, names or devices used to specify goods and differentiate one good from others is defining which of the following?

Trademark

Which of the following treasuries are NOT a type of government bond?

Treasury funds

Simple structures are flexible and inexpensive, but are often only effective in small organizations.

True

To which of the following situations does the Family and Medical Leave Act NOT apply?

Unable to work because of a family vacation

Jason is using a company printer to print fliers for his garage sale. Which of the following describes Jason's behavior?

Unethical behavior

Unfair treatment of staff is an example of which of the following?

Unethical business practice

Which of the following retail outlets often sells in bulk?

Warehouse clubs

$20 bill features which of the following on the reverse?

White House

An assembly line is an example of

Work specialization

Which company has been accused of having a monopoly on digital media players and online music sales?

iTunes