BS MGMT 10

Corporate philanthropy, cause-related marketing, and sustainability are examples of: Group of answer choices A. Corporate Social Responsibility programs B. Social Initiatives C. Profit - sharing

A

Diana has started a shop to sell and repair computers. She is looking forward to the Group of answer choices A. Equity. B. Exhaustive planning process. C. Long hours.

A

Guillermo plans to open a Mexican restaurant in Virginia. He has talked to SCORE about projecting financials for a full-time business. The analyst there recommends Group of answer choices A. a location analysis. B. avoiding insurance agents. C. avoiding bankers.

A

Human intellect and creativity falls into which of the following four factors of production? Group of answer choices A. Human resources B. Natural resources C. Capital

A

The Federal Reserve relies on what other tool to conduct monetary policy besides the discount rate? Group of answer choices A. reserve requirements B. banking fees C. secret agents

A

The Federal Reserve uses a variety of monetary policy tools to achieve which of the following goal(s)? Group of answer choices A. full employment, price stability and sustainable economic growth B. Lower unemployment, currency exchange rates, equitable campaign practices C. A bull market, new companies, and fair trade

A

The Founding Fathers of the U.S. originally defined: Group of answer choices A. Congress B. the rule of law C. State boundaries

A

Walgreens, one of the largest drugstore companies in the U.S., announced in October of 2015 that it would acquire all of Rite Aid's drugstores and debts for a $17.2 billion all-cash transaction. This is an example of a: Group of answer choices A. horizontal merger. B. vertical acquisition. C. horizontal acquisition.

A

When the perceived benefits are greater than the amount that a customer paid for the goods or services, the customer would considered that he or she received a great ________. Group of answer choices A. value B. interest C. profit

A

Theory Z manager

A manager who believes that workers seek opportunities to participate in management and are motivated by teamwork and responsibility sharing

An Employer Identification Number (EIN) used to identify a business entity is also known as a ________: Group of answer choices A. Local Tax Number B. Federal Tax Identification Number C. Business Identification Number

B

Licensing and franchise agreements are tools that businesses use to get their products and services into: Group of answer choices A. retail stores. B. global markets. C. the internet.

B

People working directly within a business are known as ________? Group of answer choices A. shareholders B. internal stakeholders C. external stakeholders

B

Walter opens a motorcycle repair shop where he will not only repair motorcycles, but will also offer custom paint jobs, accessories and some t-shirts. When Walter opened his business, his primary objective was to ________. Group of answer choices A. help the motorcycle community B. make a profit C. improve personal skills

B

When quantity demanded increases in response to a change in price: Group of answer choices A. the demand curve shifts to the left. B. there is a movement from one point to another along the demand curve. C. the demand curve shifts to the right.

B

Which of the following entities are subject to double taxation? Group of answer choices A. partnerships B. corporations C. sole proprietorships

B

Why don't we use the barter system today: Group of answer choices A. Of the role of commercial banks. B. It is difficult to find two parties that have something they both want to trade. C. Of specialization theory promoted by Adam Smith

B

________ is a business that provides goods or services to consumers but whose primary goal is not to return profit to the owners. Group of answer choices A. A for-profit business B. A nonprofit business C. A publicly held business

B

Disadvantages for a franchisee include: Group of answer choices A. significant limitations in the range of franchise options that are available in the U.S. B. The name or brand might not be well known. C. the high cost of start-up.

BC

A market economy includes which following characteristic? Group of answer choices A. There is no private property. B. Resources and businesses are owned by the government. C. Economic decision-making happens through markets.

C

Falling economic indicators typically signal ________ in the economy. Group of answer choices A. expansion B. depression C. recession

C

Gary and Dane live in Moorefield, West Virginia. After graduating from college they return to Moorefield but find that the opportunities for jobs and careers in their town are very limited. They decide to start a business. Gary and Dane have Group of answer choices A. College loans to pay and need to find a job quickly B. A desire to leave Moorefield, WV C. Made a conscious decision to become entrepreneurs

C

Gloria is starting a business. She must consider the tax implications when choosing a form of ownership because ________. Group of answer choices A. Once Gloria chooses a form of ownership, she must stay with that form (and corresponding tax situation) for the life of the company. So, it is important for her to consider the potential growth of the company for tax purposes. B. No one likes to pay high taxes. Understanding how to complete her taxes properly can result in more or less tax liabili

C

Judges decisions that establish precedent and bind future courts is known as: Group of answer choices A. Statutory law B. Evolving law C. Stare decisis

C

Managing multiple and varying currencies is a(n) ________ challenge in a global business environment. Group of answer choices A. social B. technological C. economic

C

Often considered the most important part of a business plan, this section is the first opportunity to grab a potential investor's interest. Group of answer choices A. marketing and sales B. service or product line C. executive summary

C

Starting a business requires numerous steps or activities. In order to start a successful business, you should ________. Group of answer choices A. start doing business in your home or garage to reduce the risk of failure. B. Run an advertisement on the local radio station. C. Determine the legal structure of the business

C

The Federal Reserve relies on what other tool to conduct monetary policy besides the reserve requirement? Group of answer choices A. banking fees B. secret agents C. discount rate

C The Federal Reserve relies on the discount rate as another tool to conduct monetary policy, in addition to the reserve requirement. The discount rate is the interest rate at which eligible financial institutions (usually commercial banks) can borrow money from the Federal Reserve to meet their short-term liquidity needs. By adjusting the discount rate, the Federal Reserve can influence the money supply and credit conditions in the economy.

A neighbor has apple trees to harvest but no time to do it. The Peterson family has time to harvest but doesn't want to work for apples. The Petersons are hoping to take a vacation next summer, and agree to harvest the apples for their neighbor in exchange for a $200 payment for their work. This illustrates one of the advantages of money over bartering, which is: Group of answer choices A. Money is the only means of exchanging goods for services. B. Money is difficult to counterfeit. C. Money stores value.

C. Money stores value. This scenario illustrates the advantage of using money as a medium of exchange. Money allows for the storage of value, which means the Petersons can perform the apple harvesting for their neighbor and receive payment in money (the $200). This money can be saved and used for their planned vacation next summer, demonstrating the concept of money as a store of value. In bartering, it can be more challenging to directly exchange goods or services without a common measure of value

Theory Y managers

Managers who assume that engaging in effortful behavior is natural to human beings; they recognize that people seek out responsibility and that motivation can come from allowing employees to suggest creative and meaningful solutions.

Theory X managers

Managers who assume that work is innately unpleasant and that people have a strong desire to avoid it; such managers believe that employees need direction, dislike responsibility, and must be kept in line.

ERG theory of motivation

Three categories of human needs related to organizational behaviors: existence needs (E), relatedness needs (R), and growth needs (G)

Merely the presence of a goal is not motivation enough. According to the goal setting theory, a goal must be SMART. This stands for: Group of answer choices a. specific, measurable, accountable, realistic, and timely b. specific, meaningful, accountable, recognized, and timely c. specific, measurable, achievable, realistic, and timely

c

Internal Stakeholders

employees, owners, board of directors

A supply curve is a graphical illustration of the relationship between price, shown on the vertical axis, and ________, shown on the horizontal axis. Group of answer choices A. quantity supplied B. quantity demanded C. supply

A

Andy has started a garage. Two of the negative elements are Group of answer choices A. risk and uncertainty. B. Financial gain and equity. C. prestige and control.

A

Clark is learning about various business entity types in order to set up his new business. He wants to know which entities are subject to limited liability. You tell him that the entities subject to limited liability are: Group of answer choices A. corporations. B. partnerships. C. sole proprietorships.

A

If the federal government wanted to find out how much M2 money is in circulation in the US, they would look at which of the following? Group of answer choices A. Savings accounts B. Currency C. Demand deposits and other checking accounts

A

If you were given the task of totalling all the M2 money in circulation in the US, which of the following would you include in your calculations? Group of answer choices A. 2.Savings accounts B. Currency C. 1.Demand deposits and other checking accounts

A

Many businesses will set the ________ through their organizational leadership. Group of answer choices A. ethical tone B. company policies C. human resource policies

A

Self Dealing arises when as a business owner you: Group of answer choices A. As a member of the City Council, you vote to award contracts to your business. B. Accept gifts from other business owners. C. Become a member of the City Council.

A

Shannon went to the pet store and bought a dog bowl. The bowl cost $15 and Shannon used a $20 bill to pay for the bowl. She received $5 back in change during this transaction. The $15 price of the dog bowl ________. Group of answer choices A. is a precise measurement of the value of the dog bowl. B. is the result of a bartered transaction. C. is an example of commodity money.

A

The equilibrium price for Gizmos is $12, but Gizmos are currently priced at $10 throughout the market. In the typical store that sells Gizmos, we might expect: Group of answer choices A. the box of available Gizmos is often empty. B. equilibrium has nothing to do with how many Gizmos the store sells. C. the box of available Gizmos is always full or overflowing.

A

Which would constitute a non-cash form of a kickback? Group of answer choices A. Super Bowl tickets from a nanotech company to the CTO who helped his company CEO enter a strategic alliance with them. B. An invitation to speak at a TED event and present your latest research on brain scans. C. A trip to Hawaii given to the top salesperson for reaching the company's annual sales goals.

A

AT&T's proposed $39 billion acquisition of T-Mobile USA would have combined two of the four major national providers of mobile telephone services for both individuals and businesses. As a result of this acquisition, AT&T would be the provider of almost 40% of all mobile service, with Verizon and Sprint making up the remainder of the market. This is an example of: Group of answer choices A. vertical acquisition. B. horizontal merger. C. horizontal acquisition.

B

Edith has ideas for better way of servicing cars. She has talked over strategy with friends in the business. Edith should also Group of answer choices A.just dive in and get started. B. think about her motivation and realistic projections of income and expenses. C. remember that bankers can not be trusted.

B

Global trade really gets a boost from regional trade agreements. These are reciprocal trade agreements between: Group of answer choices A. two or more companies in the United States. B. two or more nations. C. two or more states.

B

Imagine that you own a local fitness gym in your hometown called "U-Fit." You have done well over the last few years and have enough capital to acquire your hometown competition, the "Pump It" gym. Why would it be a good idea for you to undertake a horizontal merger or acquisition? Group of answer choices A. To increase synergies by merging firms that would be more efficient operating as one. B. To take advantage of synergies and potential market share gains. C. To tap into a new mark

B

Privacy laws include governing: Group of answer choices A. enforcing intellectual property rights. B. data collection, storage, use and permissions. C. agreements about supply and delivery of goods.

B

Product liability claims must fulfill these three major bases: Group of answer choices A. Local law, state law, federal law B. Manufacturing defects, design defects, and failure-to-warn defects C. Tort Law, Common Law, Federal Law

B

Regional trade agreements are reciprocal trade agreements between: Group of answer choices A. two or more companies in the United States. B. two or more nations. C. two or more states.

B

The International Monetary Fund is often referred to as IMF and is part of: Group of answer choices A. international trading. B. global finance. C. local funds.

B

The Queen of England says by royal decree that the British Pound will be the currency of the land and it will be backed by the government as legal tender for all debts public and private. The British Pound is an example of: Group of answer choices A. Virtual money B. Fiat money C. Commodity money

B

The Unilever Corporation sources the raw materials it buys from the global farming and forestry industries. Their initiative to source 100% of its agricultural raw materials sustainably, is an example of: Group of answer choices A. barriers to entry. B. corporate social responsibility in global trade. C. foreign infrastructure concerns.

B

The ________ has its primary purpose for promoting economic and social progress in developing countries. Group of answer choices A. International Monetary Fund B. World Bank C. General Agreement on Tariffs and Trade

B

The global corruption data from Transparency International shows that bribes have: Group of answer choices A. decreased. B. increased. C. remained stable.

B

The primary concern in choosing a business location is Group of answer choices A. zoning regulations. B. exposure to customers. C. brand image.

B

Which of the following statements describe(s) a free market? Group of answer choice A. The number of sellers is limited to a select few. B. Government does not intervene in any way. C. There are price controls.

B

Whistleblower laws in the United States are designed to protect: Group of answer choices A. Employers B. Employees C. The general public

B

An analysis of unemployment rates of the countries in North America since 2008 is an application of: Group of answer choices A. financial economics. B. microeconomics. C. macroeconomics.

C

An individual walks to a local sandwich shop and uses a $10 bill to pay for a $6 sandwich, receiving $4 as change for this transaction. The $6 price of the sandwich ________. Group of answer choices A. is an example of commodity money. B. is the result of a bartered transaction. C. is a precise measurement of the value of the sandwich.

C

Benefits of being a franchisee include: Group of answer choices A. the elimination of all business risks. B. access to startup funds from the franchiser. C. access to a template for the business.

C

Complete the following sentence: If people think that the price of televisions will decrease in the near future, that belief may cause a(n): Group of answer choices A. increase in the supply of televisions today B. .increase in the price of televisions today. C. decrease in the demand for televisions today.

C

Corporate Social Responsibility strategies encourage: Group of answer choices A. an increase in the profit margin of a corporation. B. actions which capitalize on the latest social trends to boost sales. C. a positive impact on the environment and stakeholders.

C

Each of us face decisions in our lives that require us to make choices, knowing that: Group of answer choices A. the impacts of our choices can always be quantified in dollars. B. the opportunity cost of one's decision should be maximized. C. the correct choice depends upon the opportunity cost of a choice.

C

Employees compelled to report a significant wrongdoing by their employer are protected by: Group of answer choices A. Their co-workers B. The unfair trade laws. C. Whistleblower protection laws

C

Sabine opens a small marketing firm in her hometown. She is fortunate to have a great location in the downtown business district and a steady client base. However, she is concerned that her current staff has run out of great ideas. Sabine advertises for a new marketing director with experience in the industry and a high degree of creativity. Which factor of production is Sabine acquiring? Group of answer choices A. Natural resources. B. Entrepreneurship. C.Human resources.

C

Taylor Shoe Company just realized that the local newspaper advertisement was not correct and they immediately contacted the local newspaper. The local newspaper printed a correction with an apology for initially printing it incorrectly. This is an example of: Group of answer choices A. ethical behavior B. social responsibility C. legal behavior

C

The American Veterinary Medical Association (AVMA) is a not-for-profit association representing more than 89,000 veterinarians. They have the "Principles of Veterinary Medical Ethics" which are an example of a: Group of answer choices A. code of practice B. role of standards C. code of ethics

C

The influence and authority of laws within a society is known as: Group of answer choices A. Second Amendment B. The constitution C. Rule of Law

C

The political economy of a country refers to: Group of answer choices A. PPP or GNI. B. target markets with high incomes. C. the formal and informal legal structures of a country.

C

The unemployment rate generally ________ during contractions and ________ during expansions. Group of answer choices A. falls: rises B. rises: rises C. rises falls

C

What is an example of an external stakeholders in a business? Group of answer choices A. Owners. B. Employees. C. Creditors.

C

What is the business function accountable for raising funds to grow a business? Group of answer choices A. Marketing. B. Accounting. C. Finance.

C

When choosing an organizational type, what important factors should you consider? Group of answer choices A. Starting capital and hours you have available to work B. Supplier capabilities and retail outlets C. Control versus responsibility, and risk tolerance

C

employee outputs

Per Adams' equity theory: salary, benefits, intangibles such as recognition,and so on.

Employee Inputs

Skill, knowledge, time, physical ability i.e. the labor process.

Stocks

are a way to raise capital by selling ownership or equity

Bonds

are a way to raise capital through borrowing

Herzberg hypothesized that are two different sets of factors governing job satisfaction and job dissatisfaction. These are Group of answer choices a. Existence and relations needs. b. "hygiene factors" and "motivation factors". c. Financial needs and safety needs.

b

The amount a business earns after deducting what it spends for rent, salaries, and other expenses is ________. Group of answer choices A. interest. B. revenue. C. profit.

c

The main point(s) to learn from ERG include: Group of answer choices a. by overcoming individual needs, we can improve worker productivity. b. we need to recognize the single need that may be driving an individual at a given time. c. by understanding multiple needs, we can better understand an individual's behavior and create motivation

c

The Hawthorne Effect

change their behavior because they are being observed and treated differently

M-2 Money Supply

includes everything in M-1 plus near-cash items, such as savings accounts and time deposits below $100,000

M-1 Money Supply

includes the most liquid forms of money, such as cash and checking-account funds

The Role of banks

loans help industry grow and make profits for banks

Fiat Money

money that has value because the government has ordered that it is an acceptable means to pay debts

External Stakeholders

people or groups in the organization's external environment that are affected by it

The equilibrium price

the price that balances quantity supplied and quantity demanded

Early Stage Capital

when a business owner uses his/her own money or seeks money from an angel investor or venture capital firm