Business - Introduction To Business; Pace 5 Quiz

1

Which of the following is used to guide a person's behavior?

2

The disadvantages of small businesses include all of the following except

3

Where is the world's largest free marketplace?

4

What is a "story" in the business sense?

5

Line managers are indirectly involved in meeting an organization's goals. Their primary responsibilities are primarily comprised of advising other departments.

6

Perfect competition is the market situation in which a product has many buyers and sellers, and no single buyer or seller is powerful enough to affect a product's price.

7

The fact that environmental responsibility requires trade-offs means that it

8

The ________ doctrine states that employers have as much right to fire workers as the workers have to leave the company voluntarily.

9

Which of the following was a change proposed by the Single European Act?

10

Taelyn works with her manager to set measurable goals and objectives at the start of each calendar year. If she meets these goals and objectives, she receives a cash award at the end of the year. This is award can best be described as a ________ payment.

11

An online dating service that charges for membership makes money primarily through using a(n) ________ model.

12

What attribute is true of a strong balance sheet?

13

Planning is essential when writing business messages because it

14

Pat has always worked for companies that provided her with health insurance. However, she has recently lost her job, so she needs to buy an individual insurance policy. What statement can she expect to be TRUE of this policy?

15

Identify a difference betweenbusiness-to-business (B2B) transactions and business-to-consumer (B2C) transactions.

16

B2C salespeople spend more time prospecting their customers than do B2B salespeople.

17

Which of the following statements is true of job enrichment?

18

Gabby and Gus Malloy recently got preapproved on a loan for their first house purchase. They are speculating on how much they should bid on their number one choice-a small, three-bedroom bungalow near a major college town. Which of the following indicators may be an important factor in whether they are able to successfully put in a low bid?

19

How do unsolicited proposals differ from solicited proposals?

20

Describe at least three common employment messages that follow an interview

(1 ) Follow-up message: Send this type of message within two days of the interview. Acknowledge the interviewer's time and courtesy and express your continued interest in the job. (2 ) Message of inquiry: If you have not heard back from the company within two weeks of your interview, you should send them a letter asking to be notified about the decision. Doing so shows that you are still interested in the position. (3 ) Request for a time extension: If you receive an offer while still waiting to hear back from another interview, you may write to the offering company and ask for a time extension on your decision. (4 ) Letter of acceptance: Like the job offer itself, this message is legally binding. (5 ) Letter declining a job offer: The indirect approach for negative messages is ideal for this type of letter.

21

A policyowner is able to choose the frequency of premium payments through what policy feature?

22

When B2B marketers divide the market based on the concentration of customers, they are using _____ segmentation

23

When a firm's sales revenues are greater than its expenses, the firm has a

24

Prextos Corp., after incurring losses, decides to move its manufacturing unit to a foreign location where it would get labor at cheaper rates. In this scenario, Prextos Corp. is planning to employ _____ to cut down its losses.

25

Which of the following best exemplifies a first-mover advantage?

26

A mission statement is an invisible manifestation of a company's culture

27

Small businesses are important to the U.S. economy because

28

The earnings statement is another term for the

29

What would be an important benefit of locating an automobile factory near to a tire manufacturer?

30

Which of the following is an example of a source of primary data?

31

What is a contingency plan, who develops them, and what types of issues do they address?

32

A ________ is the online equivalent of recorded radio or video broadcasts

33

Whirlpool fails to provide an instruction manual with a certain type of new washing machine. Which basic consumer right does Whirlpool's action violate?

34

Daniel notices that one of his colleagues arrives late and leaves early from work every day. In deciding whether or not to report this behavior, what must he do first?

35

Maturity is a stage in the product life cycle

36

Which of the following explains why economic integration has never been easy to achieve or sustain, despite the strong economic and political arguments in support?

37

What was the most important impact of the Hawthorne studies?

38

Equity capital generally provides the greatest part of a firm's financing.

39

SnowDonuts, a maker of snow tubes, owes many thousands of dollars to suppliers of the plastic from which the tubes are made. The suppliers have asked the courts to force SnowDonuts to repay

40

Which of the following is an advantage of Google Presentations software?

41

Which of the following statements is true of equity theory?

42

A business's size is measured

43

What new jobs have been created with the rise of social media?

44

Disadvantages of product departmentalization are that it duplicates functions and does not focus on an organization's overall objectives.

45

When analyzing company needs for the engineering team at Happyface Company, the HR director realized that the company lacked experience with new engineering technology. What would be the director's best course of action?

46

During its early years, the AFL tried to expand as rapidly as possible by recruiting both skilled and unskilled workers.

47

When a general partnership is sued, the lawsuits often go after the more wealthy partners

48

Innovation is important because of ________-when a product is no longer viable because consumers' needs change or a competitor has a better product.

49

According to the Reaching Beyond Our Borders box, which of the following is true?

50

Kiersten and her four siblings are starting their own home design business. One of their primary goals is keeping the loving relationship they currently enjoy, so they are following the Model Business Corporation Act recommendations as they write their partnership agreement. Which of the following is an accurate recommendation of the Act?

51

Mini-Case Eli Moneybags works for Second Commercial Bank, one of the largest banks in the Southwestern U.S. He is a loan officer, specializing in mortgages. Tio Jaime, Eli's favorite (and wealthiest) uncle, passed away last month and left him a sizable amount of money. Eli is looking at the best way to invest his newly acquired wealth. He is considering many options, ranging from simply putting the money into a savings account to the possibility of starting his own business. Although his bank job pays well and offers pleasant working conditions, Eli is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor. He is also a bit bored and looking for a new challenge. He thinks he might get a lot of

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satisfaction from owning his own business. Eli has not made a definite decision yet, but has talked to a lot of people searching for a good idea for a new business. If he can come up with an idea he likes, he might just quit his current job and use his inheritance to go into business for himself!Two of his friends approached Eli with a proposal to start a language school. Eli is fluent in English and Spanish, and also has an education degree. He is strongly considering the idea but wants to know if there is a growing demand for his services. He learns that an important demographic trend is

A. the number of young children in the U.S. will decrease significantly over the next few years as the population of the country levels off.
B. the number of retirees is decreasing, making way for a younger generation.
C. the service sector is likely to decline in significance in the next few years.
D. the number of immigrants from South and Central America is increasing steadily in his area and across the nation. Professionals in hospitals and schools need to know how to speak Spanish. Immigrants need to know how to speak English.

52

The Sarbanes-Oxley Act was created to set higher ethical standards for public corporations and accounting firms

53

Kian's company, Microtech, does not have established rules and policies on ethics. It is a small, independent company that depends on its employees to use their own judgment. This structure can lead to

54

K is an agent who takes an application for individual life insurance and accepts a check from the client. He submits the application and check to the insurance company, however the check was never signed by the applicant. If the application is approved, when will coverage be effective?

55

What is an entrepreneurial team? Describe the major reasons why an entrepreneurial team might be formed

56

Most firms have trouble implementing the structural changes required by the Americans with Disabilities Act.

57

Tricor Inc., a software firm, is recruiting potential employees from engineering colleges to fill its entry-level vacancies. On the basis of this information, what observation holds true?

58

To determine the proper size for its new restaurant in Nashville, Tennessee, operations managers and marketing managers for Hard Rock Cafe worked together to determine the restaurant's ____

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Business - Introduction To Business; Pace 5 Quiz

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