BUSN 1101 Test 1
A firm that expands through foreign franchising is called a franchise.
False
An ethical dilemma involves clear misconduct at the workplace
False
Companies that choose to export products to a foreign country spend more to enter that market than companies that choose to build their own factories
False
During the production era, managers focused mostly on customer satisfaction and not on production efficiency.
False
GDP measures the total value of all the imports and exports of a nation on a quarterly basis
False
In the context of business behavior, producing products that you know will break before their time is illegal and unethical
False
Socialism is an economic system that encourages privatization and believes that all enterprises should be publicly owned.
False
In the context of international trade, often countries with the highest trade barriers have the least competition
True
The central banking system of the US is the federal reserve
True
Value is the relationship between the price of a good or a service and the benefits that it offers its customers.
True
Demographic factors include the milestones achieved during the developments in telecommunications and other digital products.
false
Each year, the Federal Open Market Committee holds eight regularly scheduled meetings to make decisions about open market operations.
false
In the United States, nonprofits employ about one in hundred workers, accounting for less paid workers that the entire construction industry and less than the finance, insurance, and real-estate sectors combined
false
In the contect of the competitive environment of business, a product has value when its benefits to the customer are lesser than the price that the customer pays
false
A country has an absolute advantage when it can produce more of a good than other nations, using the same amount of resources.
true
A firm that contracts with foreign producers has an obligation to ensure that those factories adhere to ethical standards.
true
Although a trade deficit signals the wealth of an economy that can afford to buy huge amounts of foreign products, a large deficit can be destabilizing.
true
The balance of trade plays a central role in determining the balance of payments
true
The significance of the social dimension of a business environment is highlighted when a number of states--from Alabama to Nevada--make their local economies more appealing by providing special tax deals to attract new firms.
False
In the context of foreign direct investment, a partnership typically involves a less formal, less encompassing agreement than a strategic alliance.
false
In the context of the competitive environment of business, unlike leading-edge firms, bleeding-edge firms offer products just as the market becomes ready to embrace them.
false
In the context of the strategies for reaching global markets, franchising is a strategy to seek foreign suppliers
false
In the context of your career choice, your own business skills cannot influence the level of your personal financial success
false
Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products
false
The amount of input divided by the amount of output equals productivity.
false
The financial assistance offered by the World Bank usually comes in the form of a high-interest loans
false
capital, one of the factors of production, includes machines, tools, buildings information and technology
true
in the context of capitalist economy, the right to free choice directly feeds competition.
true
in the context of social responsibilty, B-Corps recieve special tax treatment.
true
in the context of the barriers to international trade, the infrastructure differences between two countries fall into the category of economic differences.
true
in the context of the legal and ethical dimensions of business conduct, practicing collusion with competitors is legal but unethical
true
planned obsolescence represents a clear violation of social responsibility
true
the personal needs, the culture, and the family of an individual influence his or her ethical choices.
true