Business 120 Test 1 – Flashcards
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Consumerism is a widely accepted social movement. Proponents of this believe that__________________is a right of all consumers.
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the right to be informed
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_____________________provides info to businesses about where people live and their traits, such as race, gender, age, income, and education
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demographics
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Which of the following is a duty of socially responsible organizations
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to deliver consumer value by providing quality products at fair prices
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________________is the most basic level of international market development and involves shipping domestic products overseas
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exporting
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________________________refers to sets of beliefs about right, wrong, good, and bad
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ethics
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the production of high-performance cars has the lowest opp. cost in germany than in any other country. This means that Germany:
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has an absolute advantage in the production of high-performance cars
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A __________________ is an agreement between 2 or more companies to join forces to pursue specific opportunities without actually merging their operations
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joint venture
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During the Relationship Era, businesses believed it was more profitable to
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cultivate current customers using technology
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Which of the following eras in the history of American business saw a raise in the overall standard of living across the country?
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the entrepreneurship era
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_________________refers to the quality and quantity of goods available to a population
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standard of living
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a company with international operation may rely on universal ethical standards to guide:
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decision making across a broad spectrum of situations
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Which of the following statements indicates the conditions under which the codes of conduct work best
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committing to finding solutions that have max financial gain
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Which of the following is a key feature of an organization that adopts the marketing concept
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departments throughout the organizations adopt a customer orientation
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Lisa is a marketing consultant who is trying to help a regional company design an advertising campaign that will appeal to the local population. Her report should take into account _______________ factors such as the age, income, and ethnic composition of the population
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demographics
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The purpose of the General Agreement on Tariffs and Trade (GATT) was to
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encourage worldwide trade
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With the passage of the Sarbanes-Oxley Act, the US govt. now provides more protection to workers who engage in:
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whistle-blowing
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Socially responsible empoyers
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ensure that hard work, commitment, and talent pay off
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Economics is divided into two core areas of study known as
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macro and microeconomics
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A basic characteristic of ______________ is that both producers and consumers are free to make their own economic decisions on many basic issues
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capitalism
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In countries like China and India, the availability of cell phones
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has enabled these nations to greatly telecommunications without investment in conventional landlines
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Too much taxation, an overuse of regulation, and limited choices in the broader bus. environment are likely to result in:
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a decrease in entrepreneurial activities
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Which of the following illustrates a true ethical dilemma
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Jack has to cover for his manager who has been stealing from the cash register or else he loses his job
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For whhich of the following reasons has the fed. govt. become part owner of a number of financial institutions
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Bailouts from the 2008 economic crisis
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Macroeconomics focuses on
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the major issues facing the national economy that may seem abstract, but affect an individual's day to day life
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Which of the following is the most important factor of production in order for an economy to thrive
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entrepreneurship
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A written code of ethics
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is the cornerstone of any formal ethics program
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Which of the following are included in the capital factor of production
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machines and tools
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In an effort to embrace ______________, a large community college system recently built a new "green" campus where facilities were designed and constructed to use energy and water more efficiently in order to conserve the environment and its resources for future generations
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sustainable development
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Most bus. enterprises in the US are privately owned but the fed govt owns a number of major enterprises e.g. the US Postal Service. This suggests that the US economy is best classified as a
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mixed economy
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A foreign auto company were able to beat the competition by changing subtle aspects of their cars sold in India to include turban headspace. The company's understanding of the nation's ____________________ lead to its success
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sociocultural differences
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human resources
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people
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which of the following is a legal and ethical practice
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producing high-quality products
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Max Education is an organization focused on educating the children from poor families. The funds for the organization are raised by the corporate organizations in the state. Max Ed. is an example of
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nonprofit organization
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During which era did businesses begin to dominate their markets forcing out competitors, manipulating prices, and exploiting workers, which led to govt to pass laws regulating business
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the entrepreneurship era
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Neil notices some unethical behavior at his company. If he reports this, he is a
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whistle-blower
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Nonprofit organizations contribute to our region's economic stability and growth by employing approximately one in ___________________ workers nationwide
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ten
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Suppose the value of the US dollar strengthened considerably against the Euro. Who among the following would benefit the most in such a situation
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European firms exporting goods to America
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Firms that participate in cause-related marketing
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find that such programs help build their brands and increase sales
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The creation of the World Wide Web has resulted in the rise of ______________________ or online sales which allow businesses to tap into a worldwide community of potential customers
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e-commerce
