Bus 10
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
A job listing that invites recent graduates to apply for the job illustrates:
Age bias
Crumbie, a cereal company, not only provides nutritional information on the packaging box of its product but also goes a step ahead by providing a pamphlet that gives a detailed description of the production process. Given this information, it can be deduced that Crumbie is an advocate of _____.
Consumerism
To decide the vocabulary and the complexity of a message, one must know the _____ of the audience.
Education level
The basic mission of the _____ is to promote global economic cooperation and stable growth.
International Monetary Fund
The Fed directly stimulates spending by:
buying government securities
Research from the Ethics Resource Center (ERC) showed that companies behave differently during economic difficulties. When employees perceive the decisions and behaviors of their leaders as a heightened commitment to ethics, they are most likely to:
Adopt a higher standard of conduct for themselves.
Which of the following countries most likely has a comparative advantage?
An Asian country that produces quality automobiles with little opportunity cost compared to other countries
In the context of the code of ethics of a company, which of the following is a step that is virtually always included when experts advocate a forceful, integrated approach to ethics?
Communicating about the importance of ethics
In the context of the social environment of business, which of the following is likely to happen as the American population rapidly ages?
Creative companies will reimagine their current products to serve older clients.
Vertibram, a packaged food company, solely manufactured food products that catered specifically to the Islamic community in the United States. However, after facing a stagnation in its sales, the company started manufacturing other products that contained pork to cater to the whole community. Which of the following dimensions of the social environment does this scenario exemplify?
Diversity
In the context of business communication, which of the following is a tip for an excellent email?
Do not assume privacy.
In the context of monitoring ethics and social responsibility, which of the following is the starting point of a social audit?
Establishing goals
Welterwes, a multinational company, has 15 members in its top management. These executives have to abide by the same company policies as the other employees. However, when it came to light that the executives were not following the appropriate office timings and were abusing their power, the HR department had to pass new policies aimed specifically at the top management. These policies stated that the executives would lose a part of their monthly commission if they failed to abide by the company policies. Identify the dimension of the social environment that this scenario exemplifies.
Ethics
Verti, a North American country, engages in business with Jerg, a South American country. Verti imports agricultural products from Jerg, whereas Jerg outsources its technological operations to workers in Verti. The two nations are able to carry out these business transactions with minimal tax implications. The given scenario most likely exemplifies the concept of _____.
Free Trade
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 statements is true of nonprofit organizations?
They employ people and take in revenue.
_____ are limitations on the amount of specific products that one nation will sell to another nation.
Voluntary export restraints
To bring a code of ethics to life, experts advocate a forceful, integrated approach to ethics. According to this, _____.
When people violate ethical norms, companies must respond publicly to retain employee trust
Rochester, an Asian country, follows an economic system that facilitates private ownership. The country's economy is based on economic freedom and fair competition. Given this information, the economic system followed by Rochester is _____.
capitalism
For making an effective business presentation, one should:
use clear transitions as one moves from point to point.
The content manager of a company wants to promote an inexperienced young employee to the position of assistant content manager over an experienced older employee. He does not feel the need to do a formal assessment of both employees' work history and their aptitude for the job. According to him, his team needs a young individual who is quick in his work. Which of the following biases does the content manager show in the given scenario?
Age bias
Alfred, a human resource manager at an IT firm, reasons, "Although everyone should be given an equal opportunity, but for once it is fine to give my friend the first shot at the opening in my company because I know he really needs the job." In this context, which of the following statements is most likely true of Alfred?
He views ethics as relative.
In the context of the history of American business, which of the following occurred during the entrepreneurship era?
Industrial titans created enormous wealth that raised the overall standard of living across the country.
The _____ is an organization of 188 member nations that promotes global economic cooperation and stable growth.
International Monetary Fund
In the context of the free market system, which of the following statements is true of oligopoly?
It typically avoids intense price competition.
Regency Placade, a renowned European electronics company, wants to set up a subsidiary in Finim, an Asian country. After conducting a survey, the company finds that Finim lacks the resources required for production. Therefore, Regency Placade decides to abandon the idea. In this scenario, which of the following most likely affected Regency Placade's plan?
Limited access to factors of production
_____ refers to Federal Reserve decisions that shape the economy by influencing interest rates and the supply of cash.
Monetary Policy
Merticao, a French textile company, supplied most of its products to its primary market in Hestonia, a North American nation. However, when Hestonia faced an economic downturn and its citizens began to reduce their expenditures, Merticao began to focus more on its domestic market. As a result, Merticao was able to survive the loss of its primary market because of _____ in global trade.
Reduced Risk
In the context of monetary policy, the _____ is a rule set by the Fed, which specifies the minimum amount of funds a bank must hold, expressed as a percentage of the bank's deposits.
Reserve requirement
Finoret, a petroleum company, was infamous for its wasteful production methods and continuous violation of the emission standards set by the Environmental Protection Agency. However, when the new CEO took over, the company completely changed its environmental philosophy and adopted an eco-friendly technology to minimize the emission of harmful gases. In the given scenario, the company took a step toward decreasing its _____.
carbon footprint
Rubicon Inc., an American guitar manufacturing company, signed a contract with a supplier in Umreia, an Asian country, to manufacture guitars. Rubicon then imported these products and sold them in its markets under its own brand name. Rubicon did this because of the availability of cheap labor in Umreia that substantially cut down Rubicon's cost of production. In this scenario, Rubicon is most likely involved in _____.
foreign outsourcing
Preston, a luthier, used to own a workshop in the 1750s where he produced handmade musical instruments of high quality. However, due to technological advances, musical instruments started being mass-produced in factories, and Preston's business began to decline. Given this information, it can be assumed that Preston belonged to the _____.
industrial revolution era
A _____ is formed when two or more companies share resources, risks, and profits without actually merging, to pursue specific opportunities.
joint venture
The cosmetics industry in the district of Dunkenburg has many competing companies that sell personal care products. However, each company manufactures products that correspond to different income groups, and these products have different uses. The market structure of the cosmetics industry in Dunkenburg exemplifies _____.
monopolistic competition
Trade restrictions were created to:
protect domestic industry.
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
In the context of open market operations, when inflation is a concern, the Federal Reserve _____ government securities.
sells
New Tapan, an African country, invested resources in the defense sector, and as a result, its budget deficit grew. To decrease the budget deficit, the government of New Tapan cut down its expenditures in several other sectors and imposed higher taxes. Similar measures implemented by the government in the United States would most likely create _____.
the fiscal cliff
Who among the following individuals uses nonverbal communication?
Herbert, who maintains eye contact with his employees while talking to them
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 September 2008, during the fiscal crisis in the United States, the stock market lost more than a third of its value, and 11.1 million Americans were out of work. Neither businesses nor individuals could borrow funds to meet their needs. Which of the following dimensions of the business environment does this illustrate?
The economic environment
Giovani, a baker, makes exactly 20 loaves of brown bread each day. These loaves of bread are delivered to the 20 individuals who have placed an order with him. The quantity associated with such a demand and supply pattern is called _____.
The equilibrium quantity
Which of the following statements is true of effective business communication?
The speaker should seek and understand feedback from the speaker's audience.
In 1982, the total expenditure of the government of Kargenia, a European country, exceeded its revenue by a substantial amount. This forced the government of Kargenia to borrow funds to meet its legal obligations. In this scenario, the government of Kargenia incurred a _____ in 1982.
budget deficit
As a listener, you are most likely to interpret the maximum meaning from a speaker's:
facial expressions
Fiona, an industrial psychologist, is asked to give a presentation on the benefits of healthy colleague relationships to the employees of a textile company. In her presentation, Fiona uses various technical terms, all related to the subject of psychology, because of which the employees find it difficult to understand her and quickly lose interest in the presentation. In the given scenario, the employees of the textile company face a(n) _____ to communication.
language barrier
Promoting high-calorie/low-nutrient foods with inadequate information about the risks is a(n) _____ practice.
legal but unethical
Vieorien, a company based in the country of Dannistel, has permitted a foreign company the rights to produce its products and to use the Vieorien trademark. However, Vieorien does not have the authority or the rights to dictate the business operations of the foreign company. In this scenario, the foreign company that Vieorien deals with is the _____.
licensee
Robert starts his presentation on business ethics by comparing the ethical policies of a business to an airplane ride without any turbulence. Just like the absence of turbulence makes the journey more enjoyable, ethical policies help ensure smooth functioning of the business. In the given scenario, Robert most likely uses a(n) _____to open his presentation.
simile
