Business Final
approximately BLANK percent of all us firms employee 100 or fewer workds
98%
BLANK is an economic system in which private property is eliminated
Communism
BLANK refers to the actions of consumers directly involved in obtaining, consuming, and disposing of products, and the decision processes that precede and follow these actions
Consumer behavior
integrated marketing communications would include all of the following EXCEPT direct mail sales promos PR distribution
Distribution
Mercedes-Benz is an example of a company that benefits from the added value of its successful name. This brand BLANK can result in financial gain due to large market shares and decreased price sensitivity.
Equity
In which stage of the product life cycle do competitors enter the field with similar offerings?
growth stage
All of the following are core responsibilities of human resource managers EXCEPT: a. employee recruitment b. company budget forecasts c. employee compensation and benefits d. employee training and performance evaluation
B company budget forecasts
Which leadership style would allow sales personnel to participate in setting sales quotas?
Democratic
BLANK is an organizational function and a set of processes fro creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholder
Marketing
Management is the process of achieving BLANK through people and other resources
Organizational objectives
Roberts company contracted with another business to provide technical and computer support. This is an example of
Outsourcing
Intensive distribution is a strategy used by the marketers of which of the following products?
Pepsi
Dominga is seeking employment in the banking industry. Before her interview with Citibank, she conducts thorough research and identifies ways in which she can benefit the company. What type of marketing is Dominga utilizing?
Person
Which of the four functions of management creates a well-desinged road map of the actions needed to lead a company forward?
Planning
Devin obtains research data based on the number of unique visitors to his company's Website, as well as tracking types of orders and amount of money spent. Devin is acquiring what type of research data?
Primary
Rachael is developing a new product and is working with specialist from her organization to eliminate ideas that cannot be developed within the company's resources. Rachael is in what stage of product development?
Screening
Setting a price relatively high compared to similar goods and then gradually lowering it a pricing strategy called
Skimming
Mario is part of a strategic planning team. he has identified that his company is the low-cost producer in its industry. This should be listed on a swot analysis as a
Strength
as someone moves up the managerial hierarchy, which skills become relatively less important?
Technical skills
eric is a supervisors and he works hard to involve his employees in all aspects of the operation believing that employees involvement is a key to improving productivity eric is a BLANK manager
Theory Z
what is the first step toward an organizations path to success?
Vision
A formal statement that defines how the organization expects and requires employees to resolve ethical questions is
a code of conuct
Companies use BLANK to focus on a specific consumer market by combining product, distribution, promotion, and pricing strategies
a marketing mix
barriers to entry into an industry are highest in
a monopoly
which of the following would result from devaluation of the US dollar? a. US goods would sell less abroad. b. the cost of foreign vacations for us citizens would be reduced c. foreign firms would have to pay more to purchase the US dollar d. foregin goods would be less expensive for american consumers.
a. US goods would sell less abroad.
All of the following are contributions of small businesses EXCEPT: a. they provide more job security than large corps b. they fuel local economies c. they provide needed services to the larger corporate community d. they create a substantial number of jobs
a. they provide more job security than large corps
A paid, non-personal sales communication usually directed at a large number of potential buyers is
advertising
the hypothetical country Uzambia is the sole supplier of Boronite. Uzambia has
an absolute advantage in the marketing the item
which of the following is an example of on the job training
apprenticeships
Evan is working on a labor dispute. He meets with both sides, listens to their proposals and makes a decision on a new contract evan is acting as a BLANK and BLANK force a settlemnet
arbitrator, can
all of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to a. fair competition b. permit price discrimination c. selection from among a variety of goods and services d. own property
b. permit price discrimination
A restaurant franchisee purchases which of the following from the franchisor?
both tangible and intangible assets
Marketing intermediaries include
both wholesalers and retailers
All of the following statements are correct EXCEPT: a. successful businesses seek to meet their social and ethical responsibilities b. business is the economic pulse of a nation c. business includes nonprofit organizations that provide services to the public d, business provides good and services necessary to an economic system.
c. business includes nonprofit organizations that provide services to the public
Which of the following statements is correct? a. setting ethical standards is easy b. setting ethical standards is always clear-cut c. doing what is right can sometimes be difficult d. social and ethical problems affect only a few companies.
c. doing what is right can sometimes be difficult
franchising offers all of the following advantages EXCEPT a. prior performance record b. a recognizable company name c. guaranteed level of profitability d training
c. guaranteed level of profitability
Entrepreneurs have the most economic freedom in which type of economy>
capitalism
the three major types of economic systems are
capitalism, planned economies, and mixed economies
India has acquired an BLANK in software development with its educated workforce and low wage scale
comparative advantage
The study of macroeconomics is
concerned with the study of the overall company
the public demand that businesses give proper consideration to consumer wants and needs in making its decisions is known as
consumerism
where does the supply chain end
customer
the curve that shows the relationship between different prices and the quantity requested at each price is the
demand curve
a country has a good chance of selling more of its goods abroad if it
devalues it currancy
If a foreign company offers steele in the us below the company's cost of production the company might be accused of
dumping
The common bases for segmenting consumer markets include all of the following EXCEPT
end-use factors
According to Maslow, the desire to receive attention and recognition from others is an
esteem need
computers that are manufactured in the us and sold in norway are categorized as us
exports
Businesses should
find the balance between doing what is right and what is profitable
Brian's employer allocates a set amount of money that he can spend on a menu of employee benefits. this type of cafeteria plan is a called a
flexible benefits plan
Anita established a corporation in Nebraska but she recently moved it colorado where she now conducts her business what type of corporation does anita own>
foreign corporation
The two principals in a franchising agreement are
franchiser and franchisee
the four types of unemployment
frictional, cyclical, structures, and seasonal
Kim graduated from college in may and is looking for a job is is BLANK unemployed
frictionally
when a company specifies a standardized, worldwide product and marketing it is following a
global strategy
when the small business administration assists a small business in applying for a major loan, it acts as the lenders
guarantor
many developing countries have had BLANK rates of DDP growth compared with the US and other developed countries
higher
In a traditional performance review, an employee's review is conducted by
his or her supervisor
a trade deficit occurs when
imports exceed exports
leadership is most often associated with the ability to
inspire others toward high levels of achievement
businesses have responsibilities to
investors, customers, employees, and society
Amy is a promising middle manager for a large company. She is taking at in a training program designed to improve her skills and broaden her knowledge of the company and entire industry. Amy is taking part in a
management development program
Beatrice is trying to resolve a labor dispute. She meets with both sides, makes a number of recommendations and suggests a compromise. Beatrice is acting as a BLANK and BLANK force a settlement.
mediator, and can not
which level of management is responsible for developing procedures in order to implement the firm's strategic plans?
middle management
two major policy tools are available for controlling economic activity. they are
monetary and fiscal policys.
consumes can choose from hundreds of different kinds and producers of cheese, each with a slightly different flavor and texture. This type of market structure is known as
monopolistic competition
the factors of production in an economic system are
natural resources, human resources, capital, and entrepreneurship
Serguis is a member of his firm's strategic planning team. He has identified several untapped markets that exist in other countries. His observation should be listed as a (SWOT)
opputunity
Katsuko decides not to take office supplies home because she fears she'll be fired if she's caught since its against company rules. which stage of ethical development is katsuko in?
preconventional
the objective of an import quota is to
prevent dumping
"Got Milk?" campaign was designed to boost the entire dairy industry instead of endorsing one particular brand. this type of promotion is called
primary demand
a combination of product lines represent a companies
product mix
in the us economy, BLANK are considered the reward for the risk of entering business
profits
The common bases for segmenting consumer markets include all of the following EXCEPT psychographic factors geographic factors demographic factors end-use factors
psychographics
Dealing with news editors, writers, and media representatives is the role of
public relations
Promotion that is aimed at the ultimate consumer with the goal of generating demand for the good or service is based on a
pulling strategy
the equilibrium price is established when the quanity
purchased is equal to the quantity offered
the equilibrium price is established when the quantity
purchased is equal to the quantity offered.
The four different types of market structure in a private enterprise system are
pure competition, monopolistic competition, oligopoly, and monopoly
Products purchased only after the consumer has compared competing products in competing stores on the basis of price, quality, style, and color would be classified as
shopping products
a formal procedure that identifies and evaluates all company activities relating to social issues is known as a
social audit
when management's decisions align with social and economic issues, the company is practicing
social respinsibility
In a BLANK system the gov owns all of the nation's major industries, but still allows private ownership in less crucial areas
socialism
when a company operates in other country is BLANK its risk
spreads out
many of the gains in the US productivity can be attributed to
technology
the part of the federal government responsible for monetary policy is
the Federal Reserve System
Capitalism is founded on
the belief that competition among business firms best serves the needs of society
in accounting terms profits are
the difference between revenues and expenses
A complaint that management is violating a provision of a union contract often results in
the filing of a grievance
a balance of payments deficit occurs when
the net outflow of money from a country exceeds the net inflow of money from abroad
The basic components of a goal-setting theory include all of the following EXCEPT goal difficulty performance feedback goal acceptance time management
time management
the utility that is created when a salesperson at a car dealership completes the sale contract is
time utility
Lupe's job duties include such tasks as deciding whether or not to introduce a new product or enter a new foreign market. Lupe is most likely a member of
top management
the country artesia exported products totaling in $86 billion last year. during the year, artesia imported products valued at $43 billion. Artesia has a
trade surplus of $43 Billion
Sole proprietorships have all of the following advantages except
unlimited life
Trade promotion is
used to promote goods or services to marketing intermediaries
monetary policy
uses the interest rate variations and availability of funds to influence the nations economy
in breakeven analysis, the cost that change with the level of production are considered BLANK costs
variable
Most companies base their compensation policies on all of the following factors EXCEPT government legislation cost of living workers previous salary a work slowdown
worker's previous salary
a less-developed country wants to build new port facilities, which will allow it to increase agricultural exports. Financing for this project could come from the
world bank
