Business Final

Quotas are taxeslevied against imports

False

donating a portion of each sale

cause related marketing

__ refers to funds providing by creators.

debt financing

designing a product to fail is

planned obsolescence

A firm that expands through foreign franchising is called a franchisee.

False

Demographic factors include the milestones achieved during the development in the fields of computers telecommunications and other digital products.

False

During the production era managers focus mostly on customer satisfaction and not on production efficiency.

False

In ethical dilemma involves clear misconduct at a workplace

False

In the context of federal debt if spending is lower than revenue the government incurs a budget deficit.

False

In the context of history of American business, the Industrial Revolution Era encouraged workers to take individual ownership and personal pride in the production process.

False

Sally is responsible for ensuring that all equipment is placed in its proper location at the end of her workshift. She notices that one employee always leaves his equipment on the floor but he is one of the top performers. Sally ignores the employees negligence and stores the equipment in its proper location. Sally is displaying her individual ethics

False

which of the following promotional ideas is based on an emotional premise

GE imagination at work

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 the public to use

Jerry intersted in finances and Jane wants to invest without the risk of unlimited liability

Limited partnership Jane and Jerry has general

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

Comparative advantage always remains static

True

In the context of the barriers to international trade, the infrastructutal differnces between two countries fall into the category of economic differences.

True

The clothing industry is an example of monopolistic competition.

True

When resources are limited, producing more of one good means producing less of something else. The opportunity cost of producing more of a good is the value given up by not producing the second-best choice.

True

Tariq has just received a loan from the small business adminstrations to open a printing shop in his community. He will be leasing computers, copiers, scanners, and printers. These items represents his need for ?

capital

written set of standards employees will need to make ethical decisions

code of ethics

candies purchased by Glenn are ________

connivence products

Unlike a sole prorietorship a corporation

considered to be a legal entity, seperate from its owners

During an espically difficult of weakening financial conditions the government of Geriva, a European nation, burrows money to meet its legal obligations.however, once the borrowed amount reaches a certain limit, the government is not allowed to borrow more money. This is because the government has hit the____?

debt ceiling

Honda's construction of automobile assembly plants in the United States is an example of foreign ___ for Honda Corporation

direct investment

Debbie, along with Mic and Rori, decided to start a new catering business. She invested her time, money, and efforts in this project, and she directly managed the business development process. In this scenario, Debbie is most likely a ___?

entrepreneur

company issues sells new stocks to meet financial needs

equity financing

nora and serena have the same qualifications but one gets paid more what theory is this

equity theory

a company selling cold drinks sells breakfast cereal under the same brand, this would be brand extension

false

a girl sets up an appointment with the dentist, this illustrates the variability characteristic of services

false

a management firm offers training programs, the firm offers pure goods

false

atms in grocery stores for customers easy access. this is form utility

false

holds charatible events. this is an example of people marketing

false

mergers and acquisitions means the same thing except the size of business involved

false

organization charts help managers understand finances

false

the first line management include managers who supervise lower level employees

false

whistleblowing creates an atmosphere of fear and mistrust

false

managing firms working capital and analyzing investments. she is most likely a part of the firms ____ team?

financial management

jason invented a 4 wheel automobile

form utlity and ownership utlity

Sarah and Jill own cafe, sarah manages 3 days a week and so does Jill. They both share profits equally, while facing any losses business may incur

general partnership

divides target market by density of population

geographic segmentation

The production of high-performance cars has the lowest opportunity cost in Germany than in any other country. This means that Germany:

has a comparative advantage in the production of high-performance cars.

Children's campground is a summer program for school children. It advertises that their is one counselor for every four children and that several other highly trained professional are part of its staff. Children's campground advertisements indicates that the program relies heavily on it's ___ factor to provide its services.

human resources

shelly has good leadership skills what does she exhibit

human skills

american red cross advertises importance of blood donations. this is an example of

idea marketing

vehicle starts to have mechanical problems after 6,000 miles this behavior is

legal and unethical

3 brothers own furniture company. Each manage but when the business suffers loses but they weren't responsible. This is because they have a ?

limited liability partnership

Apple, Inc. has used foreign outsourcing to produce its iphone. The main advantage of foreign outsourcing is ___?

lower production costs due to labor costs

grouping customers by characteristics and behavior

marketing segmentation

Aidan is a college student. As part of his economics project he has to collect data on the consumption patterns of the households in his locality. In this scenario Aiden is most likely involved in the study of

microeconomics

Unity Prax is a manafacturer of bronze sculptures. It obtains copper ore from the Pima County in Arizona. In this scenario, the copper ore obtained by Unity Prax can be classified as

natural resources

romana conducts orientation sessions for her company this is an example of what

organization chart

tina owns piano tuning business. as a sole proprietor any profit she owns is

personal income

when a manager develops blueprints what is this

planning

what are the major functions of management

planning, organizing, leading, controlling (POLC)

healthly bites makes both chocolate and sugar free cookies, this represents the _____ of the company

product lines

Sugar free cookies and chocolates represent the _______ of the company

product mix

Black Marbles resort is a resort in Miami. The members of the marketing department of the resort work hard to develop long term associations with the resorts customers. They call them to receive feedback about their recent visits to the resort and offer huge discounts on their next visit. In the context of the history of American business, the marketing department is most likely using concepts that were popularized during the ______?

relationship era

one of the major sources of equity financing for corporation is

retained earnings

The South Korean automobile company Hyundai enjoys a 17% share of the passanger car market in India. They were able to beat the competition by changing the subtle aspects of the Hyundai's sold in India such as the rooflines to accomodate motorists wearing a turban. The company has shown that understanding a nations ___ can lead to business success.

sociocultural differences

canoe and recreation clubs are

stakeholders

Bang energy drinks are focused on 16 to 25 y/o males, what is that called

target market

Inicell, Inc. an American manufacturing company, wanted to import a few camera parts from Ruelia, an asian company. However, the American government passed a taxation law that stated that a tax of 4% would be levied on all electronic imports. In this scenario, the American government imposed a ?

tariff.

Spearhead Flight Academy uses flight stimulation games to train its students in the basics of aviation. It uses these games to make its students more effective and efficient. In addition, and also offers six months of flight training, In this context which of the following dimensions of the business environment is affected the most?

the technological environment

Uno's pizza and pure magic have what in common

their mix of goods and services

adam believes his employee have a positive attitude towards their work.. what theory is this?

theory Y

the company holds back orders and delays deliveries when customers arent available, what form of utility is this

time utility

miguel is a manager that engages in strategic planning what kind of manager is he

top level

duplex bought materials without making payment at the time of purchase. they paid later. what is the financing option?

trade credit

Bailey no longer qualifies as a limited partner

true

Canibalization occurs when a new product takes away from old products

true

Emma has to decide whether or not she will advise him to stay(he would lose current job opportunity , or go (violate companies trust). This is an example of an ethical dilemma

true

George is making a new employee schedule, he is organizing

true

Margo decides to join a gym, benefits she is seeking revolves around her desires to become more fit

true

firm provides special recognization for military employees. this an example of corporation responsibility

true

formation of LLC pays taxes

true

heavy metal band determines its target market in order to be successful. this is demographic segmentation?

true

marketing plan defines marketing objectives

true

michael owns shares but doesnt have the right to vote in meetings. he is a preferred stockholder

true

own boss and complete control of company is an example of sole proprietorship

true