INTRO TO BUS Quiz 1- Chapter 1, 2, 3

_____ contributes to an employee's self-worth, which, in turn increases productivity and reduces absenteeism. 1.Empowerment 2.Money 3.Entitlement 4.Consumerism

1.Empowerment

A(n) _____ is a tax levied by a nation on imported goods. 1.tariff 2.diplomatic incentive 3.trade stamp 4.NATO exemption

1.tariff

Which of the following is an example of a demographic factor? 1.a person's age 2.all of the answers are correct 3.a person's attitude toward premarital sex 4.a person's value system

1.a person's age

In 1914, the United States prohibited the importation of Mexican avocados even though Mexico is the world's largest producer of the fruit. This prohibition remained in effect until 1996. The ban on importing Mexican avocados is an example of a(n): 1.embargo 2.entitlement cap 3.NAFTA restriction 4.permissive constraint

1.embargo

In a _____, the factors of production are owned collectively rather than individually, and no incentives to work harder or to produce quality products are provided. 1.private enterprise system 2.communist economic system 3.socialistic system 4.capitalistic system

2.communist economic system

How has diversity impacted the marketing and customization of products? 1.Along with their numbers, the buying power of minorities is growing. 2.Immigration from Europe reached an all time high in the years 2000-2010. 3.There are no significant differences in the various segments of the Hispanic population. 4.The size of the Hispanic market is declining.

1.Along with their numbers, the buying power of minorities is growing.

Which of the following is an example of an ethical business activity? 1.The employee reported to his supervisors that a co-worker had misappropriated company funds. 2.The employee condoned a fellow employee's use of alcohol on the job. 3.The employee used the company postage meter to mail letters to her family. 4.The employee went to see a movie one afternoon when she was supposed to be making a sales call.

1.The employee reported to his supervisors that a co-worker had misappropriated company funds.

French language purists on both sides of the Atlantic are on the warpath. Fed up with the growing prevalence of English on the Web, a French state institution founded in the 17th century to maintain the purity of the language unveiled a dictionary of newly-coined French equivalents to English Internet terms in 2000. This is symptomatic of the difficulties in doing business in France because in many situations, the business must be conducted in French. Therefore, it is easy to assume that _____ is extremely important in France. 1.unionism 2.economic cannibalism 3.nationalism 4.patriotism

3.nationalism

Which of the following statements about ethics training is true? 1.Ethics training is best done informally to allow employees to feel free to admit their mistakes. 2.Ethics training is formal training to develop awareness of inappropriate behavior and to practice appropriate responses. 3.One of the purposes of ethics training is to get employees to admit when and where they have acted unethically. 4.The most effective ethics training begins with the development of a personal code of ethics.

2.Ethics training is formal training to develop awareness of inappropriate behavior and to practice appropriate responses.

An economic system based on competition in the marketplace and private ownership of the factors of production 1.socialism 2.capitalism 3.utopianism 4.privatization

2.capitalism

Spanish customers view toothpaste as a cosmetic while consumers in the Netherlands view it as a necessary part of daily hygiene and use three times as much their Spanish counterparts. This example of _____ shows how important it is for marketers to understand. 1.expropriation laws 2.cultural differences 3.trade regulations 4.local content laws

2.cultural differences

When sales of cheese in the United States began to stagnate, the U.S. dairy industry looked for a quick and easy method to reach global markets. From your understanding of how companies participate in the global marketplace, you should know that the dairy industry selected: 1.social media marketing campaigns 2.exporting 3.product diversification 4.producing Swiss cheese

2.exporting

The implementation of a contractionary policy by the Federal Reserve would result in: 1.lower discretionary income 2.lower inflation 3.lower unemployment 4.lower interest rates

2.lower inflation

The standard of living in any country is: 1.measured by subtracting the supply of goods and services from the demand for goods and services 2.measured by the output of goods and services people can buy with the money they have 3.determined by the money left over after all expenses are paid 4.the general level of human happiness based on such things as life expectancy, educational standards, health, sanitation, and leisure time

2.measured by the output of goods and services people can buy with the money they have

A company that has a global vision: 1.has a very nationalistic view of the world 2.recognizes and reacts to international business opportunities 3.is involved in distributing eyeglasses to through foreign vision clinics 4.follows its competition into foreign markets

2.recognizes and reacts to international business opportunities

_____ is a philosophy that focuses on the consequences of an action to determine whether it is right or wrong. This philosophy holds that an action that affects the majority adversely is morally wrong. 1.Preconventional morality 2.Consumerism 3.Utilitarianism 4.Distributive justice

3.Utilitarianism

Which one characteristic most clearly defines a market structure? 1.the economic system in which the company is organized 2.the geography in which the company operates 3.the number of suppliers in a market 4.how the company is organized

3.the number of suppliers in a market

Which of the following statements about social responsibility is true? 1.The four components of the social responsibility pyramid are of equal importance. 2.Companies that exhibit corporate philanthropy are not acting socially responsible. 3.The federal government has written laws that require businesses to act socially responsible. 4.The obligation that a business has to act socially responsible extends beyond the investors in the company to include workers, suppliers, consumers, and communities.

4.The obligation that a business has to act socially responsible extends beyond the investors in the company to include workers, suppliers, consumers, and communities.

Wal-Mart has announced that it will only sell fresh and frozen fish that come from environmentally sound sources and bear the label of the Marine Stewardship Council. Wal-Mart's size gives it a unique opportunity to improve the fishing industry. This concern for _____ is one of many initiatives Wal-Mart is introducing to improve our environment. 1.the fishing industry 2.consumerism 3.shareholders 4.social responsibility

4.social responsibility

Kraft Foods Inc. joined with the National Latino Children's Institute to announce Salsa, Sabor y Salud - a first-of-its-kind healthy lifestyles educational program designed by Latinos for Latinos. The program was created by NLCI in partnership with Kraft to support Hispanic families, a population particularly at risk for obesity and accompanying health problems. Kraft donated $2 million to the program's startup. This donation is an example of: 1.behavior manipulation 2.strategic paternalism 3.social philanthropy 4.strategic giving

4.strategic giving