question

Macroeconomics

answer

_____ is the study of a country's overall financial dynamics, such as the employment rate, the gross domestic product, and taxation policies.

question

Subprime mortgage loans

answer

Jermaine has a poor credit score and a high debt-to-income ratio. Based on his credit ratings, which of the following would any bank or investment house offer Jermaine

question

M1

answer

________ best refers to the money supply that includes paper bills, metal coins, checking accounts, and traveler's checks.

question

Reserve requirement

answer

The People's Bank is a member bank of the Federal Reserve. As a member, it is mandatory for The People's Bank to retain funds equal to a specific percentage of deposits held by its customers. Which of the following best refers to this percentage of fund retention?

question

Oligopoly

answer

A(n) ________ is a market structure with only a handful of competitors selling products that can be similar or different.

question

A monopoly

answer

World Oil Corp. is the sole producer of oil in the world. It completely dominates the oil industry with hardly any significant competitors. Which market structure is best illustrated by World Oil?

question

Socialism

answer

________ is an economic system based on the principle that the government should own and operate key enterprises that directly affect public welfare.

question

Communist Economy

answer

Lattonia is a country where every enterprise is virtually owned by the public. This ownership is under the influence of the country's central government. The economy of Lattonia can be classified as a(n) ________ .

question

Mixed

answer

A ________ economy represents elements of both planned and market-based economic systems.

question

Privatization

answer

The Water Conservation Unit is owned and run by the central government. After government-restructuring, the ownership of the agency shifts to a non-governmental enterprise, solely owned by Mr. Hawthorne. In this scenario, The Water Conservation Unit goes through the process of ________ .

question

Producer Price Index

answer

The ________ is a measure of inflation that evaluates the change over time in the weighted-average wholesale prices.

question

Structural unemployment

answer

Chris was working as an assembly line assistant in a bottle manufacturing company. The invention of advanced machinery replaced Chris and he was no longer necessary for the job. In this scenario, which type of unemployment does Chris face?

question

Standard of Living

answer

________ refers to the quality and quantity of goods and services available to a population.

question

Profit

answer

Zoom Inc., a camera manufacturing company, earns more money in returns than it spends on purchasing goods. The money earned by Zoom Inc. best refers to the company's ________ .

question

Marketing era

answer

During the ________ , businesses began to develop brands, or distinctive identities, to help consumers understand the differences among various products.

question

Production Era

answer

Andy Mills, the marketing director of SmartMobiles Inc., trusts the concept of "hard sell." He believes that consumers can be separated from their cash through aggressive persuasion. Andy's belief closely relates to the ________ .

question

Nonprofit organizations

answer

________ are business-like establishments that employ people to produce goods or services with the fundamental goal of contributing to the community rather than generating financial gain.

question

UnitedWorld, a philanthropic project, provides free health services to the poor

answer

Which of the following ventures best illustrates a nonprofit organization?

question

Capital

answer

Identify the factor of production that includes machines, tools, buildings, information, and technology—the synthetic resources that a business needs to produce goods or services.

question

The employees of a supermarket

answer

Which of the following is an example of human resources?

question

Speed-to-market

answer

________ refers to the rate at which a new product moves from conception to commercialization.

question

Bleeding-edge firm

answer

IntelliSense Inc., a novel gadget designing firm, launched a product to replace dishwashers. Though it was useful, it was difficult to operate and was not embraced by customers. Eventually, it lost its dominance in the market. In the context of the failed product, IntelliSense Inc. best illustrates a(n) ________ .

question

True

answer

A broader economy and an individual's own business skills influence the level of his or her personal financial success. True/False.

question

False

answer

The interdependency between individual economies around the world decreases with access to technology and reduced trade barriers. True/ False.

question

True

answer

China and India represent a much bigger opportunity in terms of both sheer size and economic growth compared to the U.S. True/ False.

question

Absolute Advantage

answer

________ is the benefit a country has in a given industry when it can produce more of a product than other nations using the same amount of resources.

question

Comparative Advantage

answer

The neighboring countries, Vardonia and Argonus produce the world's best sports cars. However, Vardonia manufactures cars at a lower opportunity cost than does Argonus. In this scenario, Vardonia has a(n) ________ over Argonus.

question

Balance of Payment

answer

A(n) ________ is a measure of the total flow of money into or out of a country.

question

Trade Surplus

answer

The country of New Kaston imports clothes worth $10 million and exports electronics goods worth $23 million. Based on the import and export values, New Kaston has a ________ .

question

Direct Investment

answer

When firms either acquire foreign firms or develop new facilities from the ground up in foreign countries, it is termed as a ________ .

question

Foreign Licensing

answer

Mobiles Inc., an American mobile company, expands its business to the international market. It grants FrenchMob, a small mobile manufacturer in France, the right to market all Mobiles Inc. products. In this example, Mobiles Inc. is involved in ________ .

question

Embargo

answer

A(n) ________ is a complete ban on international trade of a certain item, or a total halt in trade with a particular nation.

question

Embargo

answer

The government of Cantilly republic has banned any form of trade with its neighboring country Plymanthia. This scenario best exemplifies a(n) ________ .

question

World Trade Organization

answer

The ________ is a permanent global institution to promote international trade, and it monitors provisions of the GATT agreements.

question

Trading Bloc

answer

The countries of Patagon, Litvea, and Rivenia sign an agreement to reduce tariffs only among themselves for a free flow of goods. Any form of business with other countries involves levying exorbitant tax. In this example, the three countries form a(n) ________ .

question

Citizenship

answer

________ is the universal ethical standard that expects people to contribute to the community, protect the environment, and cooperate whenever feasible.

question

Legal and unethical

answer

Jeremy, the owner of a supermarket, is aware that the snacks sold at his store are high in calories and has little nutritional value. Moreover, the labels on these snacks do not carry sufficient information about the calorific or nutritive value of the product. In spite of being aware of these shortcomings, Jeremy promotes the products in his store. His action is ________ .

question

False

answer

An ethical dilemma involves clear misconduct. True/ False.

question

Ethical Dilemma

answer

Adam, the chief engineer at Global Atlas, receives a memo to lay off his team members after the completion of their current project. Ron, Adam's best friend and his team member, receives an excellent job offer from a rival company and wants Adam's say in joining the company. In this scenario, Adam faces a(n) _______.

question

Integrate ethics into mandatory staff training

answer

To bring a code of ethics to life, it is imperative for an organization to:

question

Whistle-blower

answer

Gina, a software analyst, informs the local newspaper of the unethical and fraudulent activities of her managers. Gina best illustrates a ________ .

question

Planned Obsolescence

answer

________ is the strategy of deliberately designing products to fail in order to shorten the time between purchases.

question

Corporate Philanthropy

answer

Turquoise, a leading apparel store, pays its employees for volunteering at community organizations. It frequently donates money and clothing to the "Aid for the Poor Foundation," an NGO. In this example, Turquoise is involved in ________ .

question

False

answer

Social responsibility for workers has become less complicated because of globalization. True/ False.

question

It is responsibility of business to ensure that they bring together their own values along with the laws of both their home and host countries

answer

Which of the following statements is true of globalization and social responsibility?

question

A social audit

answer

________ typically involves a systematic evaluation of how well a firm is meeting its ethics and social responsibility goals.

question

Conducting a Social Audit

answer

Encode Inc. conducts a monthly review in which each of its employees is monitored for any unethical behavior. From the given data, it can be concluded that Encode Inc. is:

question

An organizational barrier

answer

Identify the built-in communication barrier that often arises when firms have an unspoken rule that the people at the top of a firm don't talk to the people at the bottom.

question

Physical

answer

Jenny is the customer care executive at Kanvas. The chair in her office is positioned in such a manner that her visitors are forced to sit at a lower level than her. This arrangement greatly hinders the communication between Jenny and her visitors. This scenario best exemplifies ________ barriers.

question

Use confident body language

answer

For effective nonverbal communication, it is advisable to:

question

She maintains assertive eye contact with the clients

answer

Vanessa, a creative designer, has to give a presentation to prospective clients. Identify the factor that most likely indicates she has good nonverbal communication skills.

question

Voideoconferencing

answer

Identify the communication channel that is most appropriate for delivering a personal or controversial message.

question

A face-to-face meeting

answer

Felix, a manager in an IT firm, has to inform his subordinate about her dismissal. Which of the following will be the most appropriate mode of delivering this message?

question

Creates deeper trust with the audience

answer

Active voice in communication:

question

Avoid slang

answer

Frank has to give a presentation in an international conference. The audience comprises elite dignitaries from developing nations. For effective business communication, he should:

question

Using contractions as often as possible

answer

Good business writing involves:

question

Create a compelling subject line

answer

Gordon is writing an email to his team. In order to draft an excellent email, he should:

question

To avoid eye contact with the questioners after answering the question

answer

The best way to handle a hostile questioner during a presentation is:

question

She should vary her facial expressions, and body language

answer

Holly, the HR manager at Cloud Connections, has to give a presentation to the firm's new employees. Which of the following should Holly follow to facilitate dynamic delivery and hold the attention of the audience?

question

Form of business ownership with a single owner who usually actively manages the company

answer

A sole proprietorship is best described as a:

question

Limited Liability Company (LLC)

answer

Blackstone, a software firm, is owned and managed by Matt and Irene. The firm is a separate legal entity and neither Matt nor Irene is responsible for any of Blackstone's obligations. However, they have the right to decide whether to tax Blackstone as a corporation or as a partnership. Blackstone best illustrates a ________ .

question

Heavy workload and responsibilities

answer

Identify the disadvantage of sole proprietorships.

question

If Graham dies, Ice Bubbles will cease to exist

answer

Graham is the owner and manager of Ice Bubbles, a small restaurant. In the context of this scenario, which of the following is most likely to be true?

question

The ability to capitalize on complementary skills

answer

Which of the following is an advantage of general partnerships?

question

They have limited liability on debts

answer

Jonah and Alex are the owners of Robust Glass Inc., a glass manufacturer. Jonah has the right to actively participate in the company's management, whereas Alex does not have the right to do so. Based on this information, which of the following is true?

question

S Corporation

answer

A(n) ________ is best described as a form of corporation that avoids double taxation by having its income taxed as if it were a partnership.

question

A divestiture

answer

Global Keys, a software firm, wants to raise financial capital. However, its encryption division brings the firm very little profit and does not fit well with the firm's strategic goals. Therefore, Global Keys converts the encryption division into a separate company and sells it to outside investors. Which form of corporate restructuring is best illustrated in this example?

question

Flexible ownership

answer

Which of the following is an advantage of a limited liability company (LLC)?

question

Limited Liability Company (LLC)

answer

GreenPro, owned by Hal and Jon, manufactures eco-friendly products. The firm has a distinct legal identity and has been created by filing the requisite government documents. It is mandatory for the firm to pay annual franchise taxes but the owners are exempt from corporate income taxes. GreenPro is most likely to be classified as a(n) ________ .

question

Distributorship

answer

A(n) ________ is a type of franchising arrangement in which the franchisor makes a product and licenses the franchisee to sell it.

question

Franchisee

answer

TimeTune Inc., a watch manufacturer, signs a licensing agreement with WristMates, a watch dealer. According to this agreement, WristMates has the right to use TimeTune's trademark, copyrights, and business strategies to sell its products. In this example, WristMates best illustrates a(n) ________ .

question

Launch their business because they believe it is their only economic option

answer

Necessity entrepreneurs are best described as individuals who:

question

Entrepreneur

answer

Adele resigns from her job at a software company and invests all her savings to start a café in her locality. Adele has accepted unlimited liability for her business venture. Adele best represents a(n) ________ .

question

Exhibits an internal locus of control

answer

A successful entrepreneur:

question

An external local of control

answer

Bruce, an entrepreneur, believes that business ventures need a significant element of luck. He does not believe in his personal efforts and relies heavily on the support of his subordinates to complete major work assignments. Based on this example, Bruce most likely exhibits:

question

Angel Investors

answer

________ are best described as wealthy individuals who invest in promising start-up companies for the sole purpose of making money for themselves.

question

Angel Investor

answer

Anton opens a garment store. He goes to Carter, an established businessman, to request him to invest in his business. Carter agrees to invest $30,000 in Anton's business. Carter best exemplifies a(n) ________ .

question

A high risk of failure

answer

Typically, small businesses have:

question

A market niche

answer

OrthoFoot Inc. is a small firm that sells custom-made orthopedic shoes. It has very few competitors in the market and is the only store in town that caters to the special needs of each customer. In this example, OrthoFoot best exemplifies ________ .

question

Allows small businesses to access its resources

answer

The Small Business Administration:

question

Develop an effective business plan

answer

Elliot is the owner of CandyGoods, a small sweet treats venture. The business brings him good profits and Elliot is looking for strategies to succeed over the long term. He should ideally:

question

False

answer

Small businesses are less likely to develop revolutionary new ideas in comparison to their large-firm counterparts. True/ False

question

High in low-income countries

answer

The necessity entrepreneurship rate is:

question

Accounting

answer

________ is a system for recognizing, organizing, analyzing, and reporting information about the financial transactions that affect an organization.

question

Government Accountant

answer

Jordan works as an accountant for the Water Conservation Corporation, a state agency. It is his responsibility to ensure that the organization's tax revenues and expenditures are recorded and reported in accordance with regulations and requirements. In this example, Jordan best illustrates a(n) ________ .

question

Financial Accounting Standards Board (FASB)

answer

In the United States, the ________ is the private board that establishes the generally accepted accounting principles used in the practice of financial accounting.

question

He is required to sever all ties with the firm he served prior to joining the Board.

answer

Dylan has been appointed as a member of the Financial Accounting Standards Board. Which of the following statements is true of Dylan?

question

Statement of Cash Flows

answer

A(n) ________ is the financial statement that identifies a firm's sources and uses of money in a given accounting period.

question

$195,000

answer

The balance sheet for Jerry's Steaks Corp. shows the following entries:

question

Horizontal

answer

A ________ analysis compares account values reported on financial statements over two or more years to identify changes and trends.

question

Unqualified

answer

Jerry, an external auditor, performs an annual audit at Grey Gadgets Inc. He does not find any serious flaw or any misappropriation of funds in the financial reports of Grey Gadgets. In this context, Jerry's audit report best offers a(n) ________ opinion.

question

Budgeting

answer

________ is a management tool that explicitly shows how a firm will acquire and use the resources needed to achieve its goals over a specific time period.

question

Budgeted balance sheet

answer

Lily is the accountant at BloomJay Corp. She prepares the firm's financial budget by identifying possible short-term fluctuations in cash flows and the firm's planned investments in major long-term projects. She combines this information with the budgeted income statement to prepare the ________ .

question

Implicit cost

answer

A(n) ________ is the opportunity cost that typically arises when a firm uses owner-supplied resources.

question

Indirect

answer

Chris and Blake plan to set up a convenience store. They identify the costs involved to start the business. While Chris focuses on the wage payments for workers, Blake centers on the costs the store is likely to incur in maintenance and quality control of their products and services. In this example, Blake is evaluating the ________ costs.

question

Financial Capital

answer

_____ is the term that refers to the funds a firm uses to acquire its assets and finance its operations.

question

MultiSys Corp. is a socially responsible firm

answer

Rick and David own MultiSys Corp. The Firm produces high-quality goods at competitive prices. It strongly emphasizes on a fine balance between maximizing shareholder wealth and respecting the needs of its employees, suppliers, and customers. Based on this example, which of the following statements is most likely true?

question

The leverage ratio

answer

Identify the key financial ratio that measures the extent to which a firm relies on debt to meet its financing needs.

question

The customers of Maraine take an average of 40 days to pay for their credit purchases

answer

The average collection period for Maraine, a supermarket, has been calculated to be 40. In the context of this scenario, which of the following statements is true?

question

Trade credit

answer

____ refers to stontaneous financing granted by sellers when they deliver goods and services to customers without requiring immediate payment. Greyson Corp. is a well-established company with excellent credit ratings. It requires funds to finance a project and thereby issues short-term promisorry notes for 60 days. The biggest advantage to Greyson Corp. in issuing these notes is that it does not require pledging any collateral in exchange for funds. Which source of short-term finance is best illustrated in the example?

question

Capital Structure

answer

The mix of equity and debt financing that a firm uses to meet its permanent financing needs is termed as ___

question

Debt Financing

answer

Mortar Inc., a construction company, is in need of fund to finance one of its projects. It sells corporate bonds to investors with a maturity period of ten years and also takes a sizeable loan from the local bank after pledging collateral. Which form of financing is Mortar Inc. employing in this example?

question

T-bill

answer

___ is a cash equivalent issues and backed by the U.S. government.

question

Money market mutual funds

answer

FlyAsh Inc. sells company shares in investors. With the funds received from the investors, it purchases liquid assets as a short-term security. The cash equivalent used by FlyAsh best illustrates ____

question

Capital budgeting

answer

___ refers to the procedure that a firm uses to plan for investments in assets or projects that it expects will yield benefits for more than a year.

question

$100,000

answer

The operations manager at ElectroSupply suggests that the power plant needs to modify its safety infrastructure. Dory, the financial manager, analyzes this proposal. She estimates the initial investment cost of the project to be $50,000 and the present values of all of its estimated furute cash flows to be $150,000. What is the net present value (NPV) of ElectroSupply's modification project?

question

Securities Broker

answer

Identify the financial intermediary that acts as an agent for investors who want to buy or sell corporate stocks or bonds.

question

Credit Union

answer

We Help is a nonprofit organization. It runs as a cooperative. Members of the organization deposit funds every month in the cooperative. It has higher interest rates on all member deposits and lower interest rates on loans. We Help best exemplifies a(n):

question

The Financial Services Modernization Act of 1999

answer

Which act reversed the Glass-Steagall Act's prohibition of banks seeling insurance of acting as investment banks?

question

Insider Trading

answer

Nora, an employee of Core Solutions, uses sensitive process information of her company to profit unfairly from trading in a company's securities. In this scenario, Nora is responsible for ___.

question

Convertible Security

answer

A _____ is best described as a bond or share of preferred stock that gives its holder the right to exchange it for a stated number of shares of common stock.

question

A bond

answer

Robbie owns a formal debt instrument from Identity Inc. that will mature in 30 years. The par value of the instrument is $4,000 and its coupon rate is 6.5%. Robbie has the advantage of selling the instrument to another investor before it matures, at a premium or at a discount. Which instrument is being discussed in this example?

question

Underwriting

answer

_____ is an arrangement under which an investment banker agrees to purchase all shares of a public offering at an agreed-upon price.

question

Over-the-counter market

answer

Gremson Inc. is unable to list its stock in any organized stock exchange because it does not want to pay the listing fees. Hence, it trades all its stock through a system much similar to that of stocks traded in the NASDAQ exchange known as a(n) _____.

question

Market Order

answer

A ___ instructs a broker to buy or sell a specific security at the best currently available price.

question

Buying and holding

answer

Josh purchases mutual funds and exchange traded funds (ETFs). He invests in these securities for a long time with the belief that the ability of the overall market will sustain the long-run upward trend.

question

Wilshire 5000

answer

Identify the stock price index that tracks stock prices of all U.S. corporations with actively traded stocks.

question

False

answer

A stock index is the amount of interest earned on a bond, expressed as a percentage of the bond's current market price. True/ False.

question

Utility

answer

_____ is the term that refers to the ability of goods and services to satisfy consumer "wants."

question

Event Marketing

answer

Acumen Inc. annually hosts the Acumen Marathon to raise funds for African people. It often promotes cultural activities to benefit nonprofit organizations. Which marketing strategy is best exemplified by Acumen?

question

Value

answer

____ refers to a customer perception that a product has a better relationship than its competitors between the cost and the benefits.

question

The high perceived value of tis goods

answer

Christi's Den is a newly-opened garment store that sells elegant clothing at competitive prices. However, it is struggling to increase its market share against Collette's Crew, an established luxury fashion store. This is because Collette's Crew heavily advertises all its products and Christi's Den does not. In the context of the scenario, which of the following factors uniquely aids Collette's Crew's market share?

question

Market Segmentation

answer

____ involves dividing marketing into groups of people that are similar to one another and different from everyone else.

question

Demographic segmentation

answer

Octagon Corp. manufactures and sells miniature cars. It segments its customer market based on the customers' age groups and gender. This best exemplifies:

question

Cognitive dissonance

answer

_____ is best described at the discomfort that a customer experiences with a purchase decision, typically for a higher-priced item.

question

Social

answer

Eleanor wishes to buy a sports car that is red in color and has great visual appeal. However, her friends and family insist that she give preference to mileage over the color and car design. Finally she buys the car suggested by her friends and family. Which of the following influences had the most profound influence in changing Eleanor's buying decision?

question

It typically refers to fresh data

answer

Which of the following statements is true of primary data?

question

Survey research

answer

Hamish, the research analyst at Recycle Corp., analyzes how much of home waste can be recycled. For this purpose, he visits every home in a small village and requests people to answer questionnaires. He combines the results from all the questionnaires to evaluate the recycle coefficient. This scenario best exemplifies _____.

question

Green Marketing

answer

The development and promotion of products with ecological benefits is termed as _____.

question

Green Marketing

answer

Erik's Electronics promotes its refrigerators as agents that would help reduce environmental pollution. This strategy best exemplifies ____.

question

Business Products

answer

_____ are products that are purchased to be used either directly or indirectly in the production of other products.

question

A violin lesson

answer

Which of the following best exemplifies a pure service?

question

Line Extension

answer

When similar products are offered under the same brand name, it is referred to as _____.

question

Licensing

answer

Vanilla Bean, a small cake shop, plans to boost its popularity to gain more profits. Uncle Fred is a popular cartoon character and is a hit with the kids. To gain recognition, Vanilla Bean purchases the rights to use Uncle Fred's logo on their products. This strategy of Vanilla Bean best exemplifies ____.

question

The maturity stage

answer

Which stage of the product life cycle entails flat sales and declining profits and requires implementation of marketing strategies such as competitive advertising, promotion, and price cuts?

question

A continuous innovation

answer

FreshBites, a food manufacturing company, redesigns the packaging of all its products to make them look more appealing. It also introduces new flavors of snacks in various pack sizes. This scenario best exemplifies ____.

question

Promotion

answer

____ is designed to influence consumer purchase decisions through information, persuasion, and reminders.

question

Integrated Marketing Communication

answer

Fenton Corp. wants to ensure that customers keep hearing about their products from every possible promotional source. Therefore, they ensure that all the channels involved in creating an impact are managed correctly. Darla, the marketing manager at Fenton Corp., coordinates the promotional activities of all its products. To create the same impression of each product in the minds of customers, Darla oversees and monitors the company's advertising and sales teams. This way, the two teams succeed in avoiding misinterpretations and work more efficiently. Darla's responsibility in coordinating the two teams to create a unified image of the product best exemplifies ______.

question

The positioning statement

answer

Which of the following elements best articulates how a marketer would want the target market to envision a product relative to the competition?

question

False

answer

A positioning statement typically translates directly into a promotional message. True/ False.

question

Trade Promotion

answer

____ is typically designed to stimulate wholesalers and retailers to push specific products more aggressively over the short term.

question

Product Placement

answer

SmartT, a smartphone brand, paid a huge sum of money to be incorporated into the popular TV show, The Hendersons. They signed an agreement with the show whereby all the characters on the show would carry SmartT cell phones. This eventually boosted the sales of SmartT cell phones. Which of the following marketing strategies was employed by SmartT?

question

Wholesalers

answer

_____ are distributors that buy products from producers and sell them to other businesses or non-final users such as hospitals, nonprofits, and the government.

question

Broker

answer

The Organic Shop, a local store, purchases fresh produce from farmers, stocks them in small quantities, and sells them to the local townspeople. The Organic Shop best represents a(n) ______

question

Truck Jobbers

answer

Identify the wholesalers who typically work with perishable goods and drive their products to their customers, whoa re usually smaller grocery stores.

question

Broker

answer

HomeCatch handles real estate transactions between buyers and sellers. It does not take legal ownership of any transaction but charges the party it represents a commission for every transaction. HomeCatch best exemplifies a(n) _______

question

A convenience store

answer

Identify the retail store that sells a small range of everyday and impulse products at easy-to-access locations with long hours and quick checkout.

question

Catch Ur Choc, which operates vending machines that allow customers to choose chocolates and coffee

answer

Which of the following is a nonstore retailer?

question

Supply Chain

answer

The ____ refers to all organizations, processes, and activities involved in the flow of goods from the raw materials to the final consumer.

question

Logistics

answer

Maxine is the supply chain manager at Creative Spaces Inc. She identifies and compares various service providers for transporting raw materials from her company's warehouses to the primary and secondary production facilities. In this context, Maxine typically handles her company's ____

question

Skimming Price

answer

Identify the pricing strategy that aims to maximize profitability by offering new products at a premium price

question

Penetration Pricing

answer

Z-Mobile launches a new range of smartphones, Z-1A. It sells the phones at the lowest possible price, to increase sales and captures as much of the smartphone market as possible. At this juncture, it does not focus on making huge profits. Which pricing strategy is adopted by Z-Mobile in this example?

question

Breakeven Analysis

answer

____ is the process of determining the number of units a firm must sell to cover all costs.

question

A premium laptop is manufactured at $300 per piece and is priced at $399

answer

Which of the following scenarios best illustrates odd pricing?

question

Leading

answer

____ primarily involves directing and motivating people to achieve corporate goals.

question

Middle Management

answer

Jim works as a manager at the SouthEast Bank. His primary role involves coordinating between his higher authorities and his group of team leaders. Jim belongs to the category of:

question

The expectancy theory

answer

Identify the motivation theory that is primarily concerned with the relationship among individual effort, individual performance, and individual reward.

question

A creative and stimulating task

answer

Holly is an affluent employee with a wide social network. She is successful at work and feels secure about her job profile. She enjoys taking up new challenges and testing her potential. According to Maslow's hierarchy of needs theory, which of the following is most likely to satisfy Holly's self-actualization needs?

question

Strategic Planning

answer

Which of the following best describes high-level, long-term planning that establishes a vision for the company, defines long-term objectives and priorities, determines broad action steps, and allocates resources?

question

Operational Planning

answer

Adam is a team leader at Circles Corp. Every week, he plans his team members' work schedules, the deadlines on promised deliverables, and ways to provide efficient customer service. The planning done by Adam best exemplifies.

question

Degree of Centralization

answer

____ is best defined as the extent to which decision-making power is held by a small number of people at the top of the organization.

question

Process

answer

Bagzone, a bag manufacturer, groups its employees into departments based on the type of work they do. Its major divisions include cutting, sewing, designing, and accessorizing. Bagzone departmentalizes its employees by _____.

question

Democratic

answer

_____ leaders share powers with their followers and typically solicit and incorporate inputs from them.

question

Free-rein

answer

Gerry is a manager. He believes that his team members would progress if they are given more powers. He assigns work to his members but gives them the liberty to choose the methods of achieving the assigned task. Gerry best illustrates a(n) ____ leader.

question

Controlling

answer

Which of the following best describes the process of monitoring the performance of a firm or its employees and making improvements when necessary?

question

Challenging but achievable

answer

The primary objective of establishing clear performance standards in the control process is that it should be:

question

True

answer

As competition accelerates across the globe, leading firms in every business category have recognized that a quality workforce can vault them over the competition. True/ False

question

They portray a sense of team orientation

answer

Which of the following statements is true of the younger workforce?

question

He has high expectations for his pay

answer

Dan is a 25-year-old software engineer who has recently joined his first job. He brings with him an unprecedented sense of entitlement. He plans to hop jobs to ensure that his career path does not remain stagnant. Which of the following is most likely to be true of Dan?

question

True

answer

Respected HR departments typically figure out ways to quantify their impact on the company in dollars and cents.True/ False

question

Probationary Period

answer

____ is a specific timeframe during which a new hire can prove his worth on the job.

question

Apprenticeship Programs

answer

Which of the following is a type of on-the-job training?

question

Stimulation Training Program

answer

The Grand Hospital group trains its interns before letting them work with real patients. In the training program, they work on dummy patients with replicas of surgical instrument that they would use later in their jobs. This training program used by the Grand Hospital group best exemplifies a(n) ____.

question

A compressed workweek

answer

In B;W Corp., employees have the option of working for four ten-hour days rather than five eight-hour days. This is an example of _____

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Affirmative action

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Which of the following refers to the policies meant to increase employment and educational opportunities for minority groups-especially groups defined by race, ethnicity, or gender?

question

Sexual Harassment

answer

At Blue Metals, a car repairing store, the male employees often pass lewd comments at their female counterparts. This scenario best exemplifies ____.

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