Quiz of Business - Introduction To Business

1

Which of the following statements BEST describes why an increase in the discount rate often results in a decrease in the money supply?

2

An open-end mutual fund issues a fixed number of shares and invests the money received from selling these shares in a portfolio of assets

3

The International Monetary Fund (IMF) provides:

4

A group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas is referred to as

5

Jack is reviewing the recently implemented sales strategy the company developed and considering whether or not the company made the right decision. Jack is in the ____ stage of the managerial decision-making process

6

Hilde's company wants to develop an understanding of the demographics of people purchasing its new product. The company wants to target its marketing at this demographic of people. The marketing department has used a database management system to identify the characteristics of buyers. Which of the following will be MOST useful for identifying the appropriate demographic group at which to target marketing?

7

A nation's balance of trade is a major component of its balance of payments

8

Rashid is analyzing his firm's financial statements to provide top management with a better understanding of the firm's financial performance. One way to do this is through ________ analysis.

9

What is one disadvantage of wholly owned subsidiaries as a mode of entry into foreign markets?

10

Explain the concept of price elasticity

11

Which of the following statements accurately describes intrapreneurs?

12

Quality control forms a key risk of exporting

13

Offshoring is moving processes to markets that are closer to home in order to minimize transportation and management costs

14

_____ enables users to test, analyze, and optimize their designs through computer simulations.

15

Concept testing involves placing a product in a place where consumers will buy it.

16

Which section of the statement of cash flows would show Wendy's payments for food ingredients and wages paid to employees?

17

_____ is granted by suppliers when they ship materials, parts, or goods to a firm without requiring immediate payment

18

The result of the Convention on Combating Bribery of Foreign Public Officials in International Business Transactions was to

19

As a bank loan officer, you are considering a loan application by Peak Performance Sporting Goods. The company has provided you with the following information:Cash$25,000Accounts Receivable 45,000Inventory 140,000Fixed Assets 190,000Current Liabilities 70,000Long-term Liabilities 90,000Peak Performance's debt to owners' equity ratio (rounded to the nearest tenth of a percent) is:

20

The use of antivirus software completely eliminates the risk of downloading infected files.

21

While a network structure can lower costs and increase a company's flexibility, it can also leave the company vulnerable to risks such as outside contractors going out of business or offering the same goods and services to a competitor

22

What are some consequences of a high unemployment rate? What are some consequences of a low unemployment rate?

23

Which of the following is a reason why a code of ethics is important?

24

________ occurs when there are a few sellers in a given market and each seller has a fairly large share of that market

25

Define and explain effective communication. Why is it important in the business environment?

While communication is the transmission of information between a sender and a receiver, effective communication only happens when you transmit meaning-relevant meaning-to your audience. Communication must be dynamic, fluid, and two-way, which includes listening. Seeking and understanding feedback from your audience-and responding appropriately-form the core of successful business communication.
Why is effective communication so challenging? The key issue is noise, which is any interference that causes the message you send to be different from the message your audience understands. Some experts define noise in terms of communication barriers, which arise in a number of different forms. Identifying and understanding communication barriers is a vital first step toward dismantling them in order to communicate more effectively with any audience.

26

Christina supervises a group of employees at a company that just went through a downsizing. Many other supervisors are no longer with the company and their employees have been assigned to Christina

27

P is blinded in an industrial accident. Which provision of his life insurance policy will pay a stated benefit amount?

28

________ exists whenever consumers in different countries are charged different prices for the same product.

29

A limit on the amount of a particular good that may be brought into a country during a given period of time is called a(n):

30

April is a doctor who is forming her own medical practice. She wants her practice to be flexible, simple to run, and free from required meetings, minutes, or resolutions. Her goal is to blend the best characteristics of corporations, partnerships, and sole proprietorships. What form of business ownership seems most in-line with April's goals?

31

According to the hierarchy of needs concept, people satisfy their needs in order of importance.

32

Regarding the international payments process, which statement is true?

33

A "slideument" is

34

The application of scientific principles to management of work and workers

35

Joe and Chris are working on a book together that they plan to publish via a print-on-demand (POD) website. As they sit down to plan everything for their pricing strategy, Chris asks the question, "What price would the customers be willing to pay?" What analysis is Chris using?

36

What is an advantage that is realized by a company as a part of first-mover advantages?

37

Which of the following is an advantage of a matrix organization structure?

38

By the time of the Civil War, the efficient banking system of the United States was the envy of the rest of the world.

39

Mervin, the vice president of a curtain manufacturing company, emphasizes that the production of curtains should meet the actual current demand. He believes in minimizing the inventories of finished products and work in process at each stage of the supply chain. In this scenario, Mervin follows the _____.

40

The spot exchange rate is the rate at which the foreign exchange dealer will convert one currency into another on a particular day.

41

Which one of the following questions evaluates your integrity?

42

According to Theodore Levitt, technology has resulted in the emergence of global markets for standardized consumer products on a previously unimagined scale of magnitude

43

Which of the following statements is true about GDP as a measure of a country's economic health?

44

In a marketing information system, data from external sources include all the following except

45

The ________ was created by the Civil Rights Act of 1964, and has since become a formidable regulatory force in the administration of human resource management.

46

Describe the pros and cons of greenfield ventures.

The advantage of establishing a greenfield venture in a foreign country is that it gives the firm a much greater ability to build the kind of subsidiary company that it wants. For example, it is much easier to build an organization culture from scratch than it is to change the culture of an acquired unit. Similarly, it is much easier to establish a set of operating routines in a new subsidiary than it is to convert the operating routines of an acquired unit. This is a very important advantage for many international businesses, where transferring products, competencies, skills, and know-how from the established operations of the firm to the new subsidiary are principal ways of creating value.

Set against this significant advantage are the disadvantages of establishing a greenfield venture. Greenfield ventures are slower to establish. They are also risky. As with any new venture, a degree of uncertainty is associated with future revenue and profit prospects. However, if the firm has already been successful in other foreign markets and understands what it takes to do business in other countries, these risks may not be that great. A final disadvantage is the possibility of being preempted by more aggressive global competitors who enter via acquisitions and build a big market presence that limits the market potential for the greenfield venture.

47

One of the reasons why C corporations have an edge over sole proprietorships is:

48

Equity financing refers to the money a firm receives from the sale of bonds.

49

________ underwrites new issues of securities for corporations, states, and municipalities needed to raise money in the capital markets.

50

Earth-moving equipment, stamping machines, and robotic equipment used on auto assembly lines are examples of

51

Managers who must be familiar with the Equal Employment Opportunity Commission regulations are ____ managers

52

Sean is a marketer at Second Chance Car Company, and he wants to inform the market of the benefits of buying used cars over expensive new cars. He invests his efforts in creating advertisements that emphasize the company's low prices and service guarantee to reach the company's target market and compete with the large car dealerships in the area. This scenario relates most directly to

53

When a firm agrees to license its product, it gains notoriety but gives up all revenues.

54

Which of the following is an indication that people accept the authority of superiors simply because of their position in the organization?

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Quiz of Business - Introduction To Business

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