Quiz Preview 6' Business - Introduction To Business

The most common nutritionally-related problems in American children are obesity, dental caries, and:

Cheryl is an investor who purchases stock using credit. If the Federal Reserve Board lowers the margin requirement on buying stock with credit, what would Cheryl be likely to do?

3

Each of the following is a characteristic of effective leaders except ________

4

Use the ________ to organize a message if you believe your audience will be receptive to what you have to say

5

Data visualization is focused on extracting broad meaning from data (rather than on clarifying individual data points)

6

Paul Hyatt owns and operates DeepClean, a Florida-based company that cleans up mold and mildew in homes and businesses. As the sole proprietor of the business, he has unlimited liability, which means:

7

In the context of planned economies, countries thatadoptedcommunism in 1900s developed:

8

Which of the following statements is true of the 457 plans?

9

A business is considered small by comparing its size to others in the same industry.

10

Mini-CaseNolan and Sadie have just opened a new restaurant on the edge of town, Cajun Kitchen. They own the land and building and have a brand-new kitchen as well as a lovely seating area, filled with mementos from the South. They have a liquor license and make wonderful Southern drinks. They are quite pleased that members of the community are helping their business grow by coming in for a meal or a drink after work. They are good businesspeople who pay their bills on time and as a result have great relationships with the vendors that supply them food.As it turns out, Nolan and Sadie's good fortune with the restaurant has caused their competitors to lose business. In fact, Cajun Kitchen has been so successful that two other nearby restaurants are in danger of going out of business. Nolan

11

Tee Time Golf Resort found that Jordan Spieth wants to put his name on golf course designs. However, for any course to be acceptable, it will cost at least $20 million to build. The plan is to purchase real estate for four new golf resorts. Proceeding with their venture, the owners have calculated that they will need approximately $100 million. But putting together an IPO is another matter. After meeting with their investment banker, they believe that investors will be willing to pay $22/share for the IPO. As the ________ for this issue, the investment bank requires 3% of the revenues generated by the sale. Tee Time will need to issue ________ shares in order to have the $100 million they need to proceed with their plan.

12

A simple supply curve shows that an increase in the price of a good will cause the quantity supplied to

13

In the past two decades, the majority of Latin American countries have:

14

Which of the following, if true, most strongly supports recommending the use of behavior modeling as a cost-effective solution?

15

The Griggs v. Duke Power Company (1971) case established a precedent on the need to use job-related tests in employment practices. Similar court cases have been decided based on this decision. This is an example of

16

Which statement regarding third-party ownership of a life insurance policy is true?

17

Development and implementation are research activities undertaken to put new or existing knowledge to use in producing goods and services

18

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

19

An insured has a continuous premium whole life policy. She would like to use the policy dividends to pay off her policy sooner than would have been possible otherwise. What dividend option could she use?

20

_____ is the method used to determine the number of units a firm must sell at a specific price to cover all costs

21

What do Dread Disease policies cover?

22

Olivia is a part-time worker at a jam-producing company in her village. Her job entails picking and cleaning grapefruits. Because grapefruits grow only in winter, Olivia is unemployed for most part of the year. In the given scenario, Olivia's unemployment exemplifies _____.

23

Effective marketing strategies focus on the product and ignore the sociocultural differences in the global environment.

24

Two parties are engaged in an adversarial negotiation regarding a land deal. Both parties assume that any gain for them would be a reversal for the other party. However, despite knowing that cooperation is mutually beneficial, they prefer to continue extensive negotiations. This scenario is an example of _____ bargaining

25

It follows from the Fisher Effect that if the real interest rate is the same worldwide; any difference in interest rates between countries reflects differing expectations about ______.

26

In the process of maximizing owners' wealth, good financial management is concerned with:

27

The Equal Pay Act applies directly to

28

Why is market segmentation important? Describe three ways firms can segment consumer markets.

The overall market for most products consists of such a diverse set of customers that a single business could not serve the entire market effectively. Thus, firms usually try to segment the market into groups that have similar characteristics. They then target the markets they believe they can profitably serve.

There are several ways to segment markets. Among the most common approaches are:

Geographic segmentation divides the market according to geographic regions.

Demographic segmentation groups customers according to factors such as age, income, or education.

Psychographic segmentation divides the market into groups with different lifestyles, attitudes, values, and interest.

Benefit segmentation identifies groups that seek different types of benefits from a product, such as comfort, convenience, or health and fitness.

Volume segmentation separates the market according to volume of product use.

29

Because of the growth of minority-owned businesses in the U.S., franchisors are becoming more focused on recruiting minority franchisees.

30

Inability to attract and retain qualified employees is one of the most common ways for a firm to fail financially.

31

Judy is in U.S. headquarters and needs to communicate with a foreign partner in Hungary about some important developments. Which technology will help to optimize each person's comprehension of the information?

32

If you create a podcast channel, how can you keep your audience interested?

33

This function of packaging allows retail stores to keep track of which products sell and which don't and to reorder products when they run low

34

The individuals who are elected by stockholders of a corporation to represent their interests are known as _____

35

Dylan is a supervisory manager in the production department of a tea manufacturing company. Each year, he actively participates in the budgeting process of the company. His input is valued by the top management as he is able to identify the issues in his department. In this scenario, it can be said that Dylan's company follows the _____ to budgeting.

36

The ability to send vast amounts of data instantly, globally, and constantly is referred to as

37

The span of control is the number of subordinates who report directly to one manager.

38

_____ is the primary tool used by bioethicists to establish elaborate protocols to ensure that certain classical worries, such as informed consent, are not violated.

39

Two days before Deepak's midterm paper was due, his laptop broke. He quickly went to the campus bookstore and was able to purchase a new laptop. What value does this represent?

40

Define the concept of comparable worth. What do critics say about comparable worth?

41

The box, "Creating Skilled Workers with German-Style Apprenticeships," asserts that Germany is working to combat the growing skills gap by providing on-the-job education for young workers.

42

QFresh, a brand for energy drinks, launched a healthy lime-based drink without preservatives. Immediately after this another brand, Fast Fizz, which manufactures energy drinks, also announced the launch of a new refreshing drink without preservatives

43

________ is often the MOST expensive distribution cost

44

A management executive just left a meeting between his team and the company's union representatives. She headed straight for the CEO's office and she reviewed where things seemed to break down. Union representatives came to the table with three different offers to resolve the insurance and vacation benefits problems laborers were experiencing. Management offered its own resolutions-two different ones, to be exact. The problem was that a bargaining zone did not emerge. Neither side was willing to consider each other's alternatives. As she reached the CEO's door, he was ready to concede that the negotiations were probably headed to

45

Although laissez-faire competition leads to inequality of wealth, Confucius believed that equal distribution of wealth was better

46

Category killers dominate their category by offering a huge variety of one type of product

47

Mallory works for a company that produces cell phone component parts. Her company developed a component that no competitor had and was soon enjoying economies of scale as the only producers of the part. Which trade theory is most reflected in the success of this company?

48

Ginnie's, a candy manufacturing company, sees a sudden rise in the consumption of its kiwi-flavored candies. Thus, the company hires more labor and buys additional supplies to increase the production of these candies. In this scenario, the costs incurred by the company for purchasing these supplies and hiring more labor exemplify the company's _____.

49

Newspapers, magazines, television, radio, and direct mail are all examples of advertising media

50

Many small businesses have an advantage over larger businesses because they are better able to ________

51

Megan wants to start a company that makes handmade products. She has limited capital, and she does not want to spend it on maintaining a large inventory of raw materials. She plans to maintain only two weeks' worth of stock of finished goods as she does not want to end up with a large inventory of products that may not sell. Which of the following production systems would be most suitable for Megan's company?

52

Positive reinforcement is used when a company or manager provides a reward when employees exhibit desired behaviors

53

Which of the following is the foundation upon which all others rest in the pyramid of corporate social responsibility?

54

A limited-liability company is taxed like a corporation.

55

Companies use marketing research to:

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Quiz Preview 6' Business - Introduction To Business

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