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