Question 1 1 points Save
Which of the following has NOT been identified as a basic consumer right?
Consumers have a right to safe products.
Consumers have a right to collude.
Consumers have a right to be informed about a product.
Consumers have a right to be heard.
Consumers have a right to choose what they buy.
Question 2 1 points Save
__________ occurs when producers, wholesalers, or retailers respond to increased demand with extremely high prices.
Price fixing
Gain taking
Price gouging
Recession pricing
Inflation
Question 3 1 points Save
The Ronald McDonald House program is a good example of a(n) _____________ stance to social responsibility.
accommodative
obstructionist
proactive
defensive
societal
Question 4 1 points Save
The Brazilian practice of jeitinho means
"to find a way".
"to win at all costs".
"on my honor".
"to dance together".
"to fight like a lion".
Question 5 1 points Save
Carbon monoxide emitted by automobiles contributes to
land pollution.
air pollution.
noise pollution.
kiting.
consumption.
Question 6 1 points Save
Which is the first step in establishing a social responsibility program?
Social responsibility must start at the top.
A committee of top managers must develop a plan.
Governmental initiatives must dictate starting a plan.
One executive must be put in charge of the firm's agenda.
The organization must conduct occasional social audits.
Question 7 1 points Save
Dangerous chemical and/or radioactive byproducts of manufacturing processes are called
green rain.
phosphates.
exajoules.
toxic wastes.
spreaders.
Question 8 1 points Save
In the fall of 2001, _________ purchased a 20% stake in ImClone.
American Home Products
BioMed
IBM
Schering-Plough
Bristol-Myers
Question 9 1 points Save
Firms adopting a(n) ___________ stance to social responsibility do not necessarily or proactively seek avenues for contributing, but participate after solicitation.
accommodative
obstructionist
proactive
defensive
societal
Question 10 1 points Save
Retailers who charged very high prices during the panic immediately following September 11, 2001 could have been charge with
price fixing.
price matching.
unit pricing.
segmentation pricing.
price gouging.
Question 11 1 points Save
Best Brews buys coffee beans grown in South American and has them shipped to the U.S. for sale in their high-end coffee shops. In this example, Best Buys is _________ coffee.
importing
buying back
brokering
exporting
servicing
Question 12 1 points Save
Which of the following is NOT mentioned as a common legal and political issue in international business?
quotas
tariffs
local content laws
business practice laws
real property taxes
Question 13 1 points Save
Many countries control bacteria and disease by banning certain agricultural products through
tariffs.
embargoes.
subsidies.
local content laws.
quotas.
Question 14 1 points Save
The rate at which the currency of one nation can be exchanged for that of another is called a(n)
balance of payments.
exchange rate.
floating interest rate.
trade surplus.
trade deficit.
Question 15 1 points Save
Which of the following large firms began their international operations as exporters?
Walgreens
Cisco Systems
UPS
USPS
Coca-Cola
Question 16 1 points Save
Tariffs that are imposed strictly to raise money for the government are referred to as ________ tariffs.
revenue
quota
subsidy
protectionist
union
Question 17 1 points Save
Using a(n) ________ strategy, the company finds a partner in the country in which it would like to conduct business.
branch office
replication
strategic alliance
independent agency
direct investment
Question 18 1 points Save
Toyota began selling cars in the United States during the
1930's.
1940's.
1950's.
1960's.
1970's.
Question 19 1 points Save
In 1999, the U.S. charged companies from Japan and Brazil with __________ for selling steel at prices 70% below its normal value.
bribery
setting up a cartel
setting quotas
dumping
globalization
Question 20 1 points Save
The amount of Canadian softwood timber that can be imported is limited under a(n)
tariff.
embargo.
subsidy.
local content law.
quota.
Question 21 1 points Save
__________ is a system of collaborative goal settings that extends from the top of an organization to the bottom.
Equity theory
Two-factor theory
Hygiene theory
Management by objectives
Empowerment
Question 22 1 points Save
Joe Liemandt is the founder of
EDS.
Trilogy Software.
BMC Software.
Wal-Mart.
Taylor Corporation.
Question 23 1 points Save
According to which of the following theories are workers solely motivated by money?
behavior theory
human relations theory
two-factor theory
classical theory
expectancy theory
Question 24 1 points Save
Participative management and empowerment results in
increased job satisfaction.
greater commitment by employees to organizational goals.
increased benefit costs.
both a and b.
both b and c.
Question 25 1 points Save
A challenging job and self-fulfillment can meet the ___________ needs level in the hierarchy of needs model.
social
self-actualization
physiological
esteem
security
Question 26 1 points Save
Which of the following approaches to human relations in the workplace reflects a basic theory of motivation?
classical theory
scientific management
behavior theory
contemporary motivational theory
all of the above
Question 27 1 points Save
Which of the following is designed to add one or more motivating factors to job activities?
process management
job redesign
job enrichment
MBO
team management
Question 28 1 points Save
At Trilogy Software, Joe Liemandt emphasizes
teamwork and risk-taking.
process improvement.
job redesign.
telecommuting.
reducing turnover.
Question 29 1 points Save
At United Systems, managers and employees meet to discuss organizational goals and set individual goals. Employees are evaluated and rewarded based on their achievement of these goals. United Systems uses a __________ system.
participative management
management by objectives
team management
job enrichment
flextime
Question 30 1 points Save
Job rotation is a form of
job enrichment.
management by objectives.
team management.
flextime.
participative management.
Question 31 1 points Save
Which of the following is a component of the marketing mix?
place
pricing
promotion
product
all of the above
Question 32 1 points Save
Xbox was created by __________ and released to the market in November ______.
Nintendo, 2001
Dell, 2000
IBM, 2000
Sega, 2001
Microsoft, 2001
Question 33 1 points Save
Products purchased for personal use are called
intangibles.
consumer goods.
industrial goods.
industrial services.
the advertising mix.
Question 34 1 points Save
Which of the following is NOT a method of marketing research?
surveys
observation
focus groups
experimentation
positioning
Question 35 1 points Save
Hospitals, churches, museums, and charitable organizations are called __________ markets.
reseller
industrial
institutional
government
pricing
Question 36 1 points Save
Raw materials, integrated circuits, and surgical instruments are
substitute products.
industrial goods.
consumer goods.
marketing goods.
services.
Question 37 1 points Save
Data warehousing is
a marketing strategy that emphasizes long lasting relationships with customers.
the process of dividing a market into categories of customer types.
the study of consumer needs and wants, and the ways in which sellers can best meet them.
the process of collecting, storing, and retrieving data in electronic files.
the process of fixing, adapting, and communicating the nature of the product itself.
Question 38 1 points Save
Market segmentation is
a marketing strategy that emphasizes long lasting relationships with customers.
the process of dividing a market into categories of customer types.
the study of consumer needs and wants, and the ways in which sellers can best meet them.
the process of collecting, storing, and retrieving data in electronic files.
the process of fixing, adapting, and communicating the nature of the product itself.
Question 39 1 points Save
Which of the following best describes place utility?
Emphasizing lasting relationships with customers and suppliers.
Making products available when consumers want them.
Transferring legal possession to the consumer.
Making products available where consumers can conveniently purchase them.
Turning raw materials into finished products.
Question 40 1 points Save
Which of the following is NOT a component of the organizational market?
reseller markets
industrial markets
institutional market
government markets
retail markets
Question 41 1 points Save
When the quantity demanded exceeds the quantity supplied, a(n) __________ will result.
demand deficit
stoppage
equilibrium point
shortage
surplus
Question 42 1 points Save
Who is MOST closely associated with the Production Era?
Andrew Carnegie
Andrew Mellon
John D. Rockefeller
J.P. Morgan
Henry Ford
Question 43 1 points Save
Market forecasts are an example of
information resources.
physical resources.
capital.
labor.
entrepreneurs.
Question 44 1 points Save
Which of the following most accurately reflects the history of business in the US, from earliest to most recent?
Entrepreneurial Era, Industrial Revolution, Global Era, Marketing Era, Internet Era, Production Era.
Industrial Revolution, Production Era, Entrepreneurial Era, Marketing Era, Internet Era, Global Era.
Production Era, Industrial Revolution, Entrepreneurial Era, Marketing Era, Global Era, Internet Era.
Marketing Era, Entrepreneurial Era, Industrial Revolution, Marketing Era, Global Era, Internet Era.
Industrial Revolution, Entrepreneurial Era, Production Era, Marketing Era, Global Era, Internet Era.
Question 45 1 points Save
Of the following periods, which came first?
Entrepreneurial Era
Industrial Revolution
Global Era
Marketing Era
Production Era
Question 46 1 points Save
In the city of Westminster, market analysts have observed that all Christmas trees offered for sale will be purchased at a price of $20.00 and all demand will be satisfied. In this market, $20,00 is the
equilibrium price.
demand price.
supply price.
enterprise price.
margin price.
Question 47 1 points Save
In socialism, which of the following is most UNLIKELY to be owned by the government?
the banking industry
the communications industry
the transportation industry
the restaurant industry
the steel industry
Question 48 1 points Save
Which of the following eras was prompted by increased consumer demand after World War II?
Global Era
Industrial Revolution
Entrepreneurial Era
Production Era
Marketing Era
Question 49 1 points Save
On a graph showing the supply curve and the demand curve, the point at which the supply curve crosses the demand curve is referred to as _______.
the junction
the crossover
the equilibrium price
the law of demand
the breakeven point
Question 50 1 points Save
"Buyers will purchase (demand) more of a product as its price drops and less of a product as its price increases." This is referred to as
the buyers' code of conduct.
the eternal purchase guideline.
the "asking factor".
the law of demand.
the greater sucker theory.
Question 51 1 points Save
In a(n) __________ corporation, stock may be traded on the exchanges of several countries.
transnational
private
S-
limited liability
global
Question 52 1 points Save
Which of the following typically has voting rights, with each share carrying one vote?
common stock
preferred stock
bonds
options
futures
Question 53 1 points Save
Under a franchise arrangement, the buyer is called the
franchisee.
franchiser.
bank.
parent company.
wholesaler.
Question 54 1 points Save
Under this arrangement, the SBA works with a corporation founded by local citizens who want to boost the local economy to finance the small business, with the SBA's share not to exceed $500,000 for each small business.
guaranteed loans program
immediate participation loans program
venture capital subsidy program
local development companies program
long-term progressive loan program
Question 55 1 points Save
MasterCard is an example of a private or ________ corporation.
general
public
closely held
sole
limited
Question 56 1 points Save
Which of the following are recent trends in small business startups?
Entrepreneurs who cross over from big business.
Increased opportunities for minorities.
Increased opportunities for women.
New opportunities in global enterprise.
All of the above.
Question 57 1 points Save
Which of the following specializes in financing businesses that are owned and operated by minorities?
MESBICs
UNESCO
UNSCOMs
SEC
FERAC
Question 58 1 points Save
Jan Pennington is opening a flower shop and has decided to operate as a sole proprietorship. Which of the following is NOT one of the advantages of operating the business as a sole proprietorship?
freedom
simple to form
limited liability
low startup costs
tax benefits
Question 59 1 points Save
Alan has invested $100,000 in a new business. In the event that the business fails, Alan can lose no more than the $100,000 that he has invested. Alan has most likely invested in a
corporation.
limited partnership.
general partnership.
sole proprietorship.
either a or b.
Question 60 1 points Save
Which of the following guarantees holders fixed dividends?
common stock
bonds
mortgages
preferred stock
none of the above
Question 61 1 points Save
Which of the following is a selection technique?
application forms
interviews
aptitude tests
polygraph tests
all of the above
Question 62 1 points Save
Member of the International Brotherhood of Basketweavers have walked off the job based on the failure of contract negotiations between Collector Baskets, Inc. and the union representing the building maintenance staff. This is an example of a(n) __________ strike.
wildcat
sympathy
wage
economic
contingent
Question 63 1 points Save
Which of the following describes the skills, education, and experience required by a job?
staffing survey
advertising budget
job specification
employee analysis
on-the-job training agreement
Question 64 1 points Save
Jane, a supervisor, has offered George, a subordinate, a raise and promotion in exchange for a sexual relationship. This is an example of _________ harassment.
quid pro quo
hostile work environment
affirmative action
employment-at-will
reverse
Question 65 1 points Save
A standardized form that asks the applicant for information such as background, experience, and education is referred to as a(n)
resume.
letter of introduction.
advertisement.
job application.
performance recommendation.
Question 66 1 points Save
Employees hired to supplement an organization's permanent work force are called
union trustbusters.
contingent workers.
migratory workers.
flextime workers.
telecommuters.
Question 67 1 points Save
A ___________ allows wage rates to be renegotiated during the life of a labor contract.
cost-of-living adjustment
bargaining zone
strike
bargaining unit
wage reopener clause
Question 68 1 points Save
A(n) ____________ is a set of individuals who, by nature of one or more common characteristics, are protected from discrimination on the basis of that characteristic.
protected class
bargaining unit
union
worker's consortium
affirmative action
Question 69 1 points Save
After negotiations failed, Collector Baskets, Inc. may chose to use a(n) __________ to prevent union employees from coming to work.
wildcat strike
boycott
lockout
strikebreaker
economic strike
Question 70 1 points Save
Which of the following links raises performance levels in nonsales jobs?
bonuses
merit salary systems
wages
cafeteria benefit plans
workers' compensation insurance
Question 71 1 points Save
Which of the following is a benefit of treating departments as profit centers?
Control is narrowed and made easier.
Coordination is narrowed and made easier.
Top managers can see how units are performing.
A department can be treated as a profit center.
All of the above.
Question 72 1 points Save
Which of the following is a disadvantage of specialization?
Employees may derive less satisfaction from their jobs.
Employees may become bored and careless.
Employees may become overpaid.
All of the above.
Both a and b.
Question 73 1 points Save
When the organization is divided according to production processes, it is using __________ departmentalization.
functional
process
customer
geographic
finance
Question 74 1 points Save
In early 1999, Ford executives announced changes intended to eliminate corporate bureaucracy, speed decision making, and improve communication and working relationships among people at different levels of the organization. These changes are examples of the ________ function of management.
controlling
directing
organizing
planning
none of the above
Question 75 1 points Save
Which of the following best describes responsibility?
The power to make the decisions necessary to complete a task.
The liability of subordinates for accomplishing tasks assigned by managers.
The number of people supervised by one manager.
The duty to perform an assigned task.
The assignment of a task, responsibility, or authority by a manager to a subordinate.
Question 76 1 points Save
Vlasic has separate divisions to transform cucumbers into fresh-packed pickles, pickles cured in brine, and relishes. This is an example of __________ departmentalization.
customer
functional
geographic
process
product
Question 77 1 points Save
Shell Oil has recently purchased an executive conference center north of Houston as part of its program to become a __________ organization.
team
virtual
learning
boundaryless
flexible
Question 78 1 points Save
Which of the following begins when a manager assigns a task to a subordinate?
delegation
responsibility
centralization
decentralization
authority
Question 79 1 points Save
Authority given to a special group of employees that play central roles in the firm's daily operations is called
risk aversion.
committee and team authority.
line authority.
matrix organization.
international organization.
Question 80 1 points Save
Cypress Semiconductor employs a __________ organizational structure.
team
virtual
learning
boundaryless
flexible
Question 81 1 points Save
A __________ balance of trade results when a country exports more than it imports.
positive
beneficial
depressed
nominal
negative
Question 82 1 points Save
How might low inflation affect McDonald's?
McDonald's will pay higher prices for supplies and will charge customers more for its products.
McDonald's will pay relatively constant prices for supplies and will charge customers more for its products.
McDonald's will pay higher prices for supplies, but will be unable to increase the price paid by customers.
McDonald's will pay relatively constant prices for supplies, but will be unable to increase the price paid by customers.
McDonald's will pay much higher prices for supplies and will charge customers more for its products.
Question 83 1 points Save
Which of the following will influence a neighborhood grocery store?
an increase in unemployment in the area
pricing policies of competitors
other marketing policies of competitors
all of the above
none of the above
Question 84 1 points Save
____________ is the economic condition characterized by widespread increased prices without increased purchasing power.
Unemployment
Deflation
Expansion
Stability
Inflation
Question 85 1 points Save
Which of the following best describes real GDP?
Total quantity of goods and services produced by an economic system.
Total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system.
Total value of all goods and services produced within a given period by a national economy, through domestic factors of production measured in current dollars, or with all components valued at current prices.
Total value of all goods and services produced within a given period by a national economy through domestic and international factors of production.
Total value of all goods and services produced by a national economy within a given period, calculated to account for changes in currency values and price changes.
Question 86 1 points Save
Currently, the U.S. national debt is approximately
$590 million.
$59 billion.
$590 billion.
$5.9 trillion.
$590 trillion.
Question 87 1 points Save
The principle of _________ states that exchange rates are set so that the prices of similar products in different countries are about the same.
purchasing power parity
consumer price index
gross national product
equal prices
nominal GDP
Question 88 1 points Save
Which of the following statements about inflation is true?
The consumer price index is a good way of measuring inflation.
Inflation decreases the purchasing power of consumer dollars.
Inflation increases the purchasing power of consumer dollars.
Both a and b.
None of the above.
Question 89 1 points Save
Taken together, fiscal policy and monetary policy make up ________ policy.
economic
inflation
recession
information
stabilization
Question 90 1 points Save
In the Fortune list of most admired companies, _________ was ranked first in its industry in 2001 and last in the 2002 list.
Enron
Wal-Mart
Southwest Airlines
Merck
Canon
Question 91 1 points Save
Coca Cola's decision to increase sales in Europe by building European bottling facilities is an example of a(n)
tactical plan.
operational plan.
strategic tactic.
strategic plan.
operational tactic.
Question 92 1 points Save
Marjorie Scardino's focus as CEO of Pearson PLC is on
maximizing sales.
looking for ways to increase efficiency and lower costs.
the personal and professional welfare of her employees.
reorganizing a large number of services into four core businesses.
developing new products.
Question 93 1 points Save
Developed by middle- and lower-level managers, these short-term targets are directed at daily, weekly, or monthly performance.
strategic goals
tactical plans
strategic plans
operational plans
tactical strategies
Question 94 1 points Save
Titles such as plant manager, operations manager, and division manager designate which of the following levels of management?
first-line managers
second-line managers
middle managers
top managers
supervisors
Question 95 1 points Save
Comparing actual performance against standards is an example of which of the following processes of management?
planning
optimizing
organizing
directing
controlling
Question 96 1 points Save
Which of the following managers depend most on conceptual skills?
first-line managers
top managers
middle managers
production managers
marketing managers
Question 97 1 points Save
Which of the following would be classified as an opportunity for an organization?
government regulations
competition
changing consumer tastes
strong reputation with consumers
recall of a competitor's product
Question 98 1 points Save
Pearson PLC is a(n)
British media company.
credit card and financial services company.
travel agency.
entertainment conglomerate.
farming cooperative.
Question 99 1 points Save
The last step in the decision-making process is
evaluating the alternatives.
implementing the chosen alternative.
defining the problem.
evaluating the effectiveness of the chosen alternative.
gathering facts.
Question 100 1 points Save
The titles supervisor, office manager, and group leader are examples of which of the following levels of management?
top management
middle management
first-line management
operations management
marketing management
USA 
India