Quiz Fall 8-Business - Introduction To Business

In a bureaucratic organization

Which type of insurance company allows their policyowners to elect a governing body?

Millie wants to ensure she maintains and preserves order and stability in her company. She is very good at developing tactical plans to achieve her company's goals and objectives. These characteristics suggest that Millie has characteristics of an exceptional leader.

4

The main disadvantage of financial leverage is that:

5

Why was scientific management more effective a century ago in the United States that it would be today?

6

Which of the following is true of professional codes of ethics?

7

Actions taken in response to new strategic maneuvers by rival firms or other unanticipated market circumstances make up a company's _______ strategy

8

Aaron buys 300 shares in a tobacco company. Within a year, he receives a capital gain on his stocks. This means that:

9

What area was the earliest research on leadership MOST concerned with?

10

If potential customers are likely to object to the price of your product or service, what can you do?

11

National banks are chartered by the:

12

Abusive behavior is difficult to assess and manage because

13

Employees of companies with written codes of ethics are more likely to report misconduct when they see it.

14

The benefit of a(n) _____ is that the contributions you make reduce your taxable income in the same tax year, and the earnings on your contributions are tax deferred, allowing them to grow more rapidly.

15

A plan that outlines alternative courses of action is called a(n) ____ plan.

16

American automakers are concerned about the availability of so many foreign cars to US consumers, which they fear could cause loss of jobs in the American auto industry. To address the situation, they encourage Congress to:

17

________ are precise statements of results a business expects to achieve

18

Ten Thousand Villages in Chicago is a fair trade boutique that imports and sells handmade items from around the world. Which benefit of capitalism does this company offer to consumers in Chicago?

19

Which of the following statements best supports the claim that greater uniformity replaces diversity in the context of global markets?

in Business

A. Differences in business systems and legal regulations lead companies to customize their marketing strategies, product features, and operating practices to best match conditions in a particular country.

B. As rival global firms follow each other across countries, they bring with them their brand names, products, and marketing strategies from other national markets, thus creating homogeneity across markets.

C. Truly innovative companies succeed by developing products that serve specific needs of the local markets.

D. The volume of goods, services, and investment crossing national borders has expanded at a slower rate than world output for more than half a century.

E. The most global of markets are not typically markets for consumer products, as significant differences in consumer tastes and preferences still exist among national markets.

20

Which of the following is NOT an effective tool for external recruiting?

21

In the context of global economy, what has been widely accepted since the late 1980s?

22

The Boldovian government took Sea Lion Inc., a domestic, private shipbuilding firm, into state ownership to save the company from bankruptcy

23

Travis got laid off from his job at a hay and grain supply company. Before he was laid off, he was focused on selling more hay and grain than any of his co-workers. Since the layoff, he has shifted his focus to finding a new source of income. What does this scenario highlight about laid off workers in terms of Maslow's hierarchy of needs?

24

Anita has had many medical expenses over the past 3 months due to dislocating both of her knees. According to the terms and conditions of her insurance policy, Anita has to pay $2,650 herself before insurance pays its part

25

Which of the following should be considered when determining how accurate and objective information is?

26

The Federal Reserve System is organized into 10 regions, each with a Federal Reserve Bank. Each Federal Reserve Bank has regional branches.

27

Most authorities agree that business ethics should be improved.

28

A well-diversified portfolio would consist of a variety of investments and even cash for emergencies. The important thing is that the choice of investments spreads the risk. Some investments may perform very well in any one year while others may lag. Those performing well will balance out those that are underperforming.

29

Proponents of the socioeconomic model of social responsibility make all of the following arguments to support their positionexcept

30

To qualify as a small business, an agricultural company's maximum annual receipts must be no more than

31

Which of these basic questions will be answered by a well-developed mission statement?

32

Internet2 is a network that resulted from the coalition formed by several leading research universities, corporations, and other organizations to create a new generation of Internet technology in the United States based on fiber-optic cable

33

Nondiscretionary payments include your monthly rent or car payment, which are set by contract

34

The country of Delta removes its dictator and moves toward democracy and a free market. Predict what happens to Delta's connection to the global economy

35

Describe bankruptcy and three sections of the Bankruptcy Code.

Bankruptcy refers to the legal process by which a person, business, or government entity unable to meet financial obligations is relieved of those debts by a court. The three sections of the Bankruptcy Code discussed by our text include:
Chapter 7 This section is used by businesses and individuals to accomplish a "straight bankruptcy." Chapter 7 calls for a liquidation of nonexempt assets to provide cash to pay creditors.
Chapter 11 Used by businesses and some individuals, this provides temporary debt relief allowing for reorganization while the business continues to operate. A firm does not have to be insolvent to file for relief under Chapter 11. The temporary debt relief gives debtors and creditors time to find the best solution.
Chapter 13 This section permits individuals and small-business owners to pay back creditors over a period of three to five years. Chapter 13 proceedings are less complicated and less expensive than Chapter 7.

36

In general, the best persuasive messages ________ the audience's motivations