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Responsibility

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If a business is to be successful in the long run, it must treat its customers, employees, and community with social

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manufacturing

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In the history of the american economy, the period or stage following the industrial revolution was know for its emphasis on

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managers

answer

The functions of organizing, staffing, planning, and controlling are most closely associated with

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socialism

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has government ownership of the factors of production

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computers

answer

Is not associated with the industrial revolution

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communist societies

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appear to be efficient and equitable, at least in theory

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spending declines

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economic contraction occurs when

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monopolistic competition

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when businesses can promote different features of their products and consumers are willing to pay more for products containing the features they desire, the competitive environment is probably

question

pure capitalism there is less government regulation

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the difference between pure capitalism and modified capitalism is that under

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profit

answer

businesses differ from nonprofit organizations in that a business's focus is on

question

False

answer

nonprofit organizations such as habitat for humanity do not engage in management, marketing, or finance activities

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true

answer

economic expansion occurs when an economy is growing and people are spending more money

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true

answer

thomas edison was an american entrepreneur

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false

answer

monopolistic competition exists when there is only one producer of a product in a given market

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true

answer

a product's equilibrium price is constantly changing in response to changes in economic conditions, availability of resources, and degree of competition

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profit

answer

the goal of business is to earn

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business profit

answer

Is not a product

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true

answer

the focus of all marketing activities is customer satisfaction

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true

answer

entrepreneurs risk their wealth, time, and effort to develop for profit an innovative product or way of doing something

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...

answer

is not associated with the manufacturing economy

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...

answer

involves activities designed to provide goods and services that fulfill needs and desires of consumers

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...

answer

central government provide basic services

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...

answer

false about business ethics

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trust

answer

ethical violations destroy

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...

answer

the sarbanes-oxley act was passed to

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all of the above

answer

have been cited as incidents of unethical business activity recently

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ethical issues are limited to for-profit organizations

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which of the following statements is false

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Using your cell phone to make a doctor's appointment during your lunch break

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which of the following is not considered unethical behavior in the workplace

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a bribe

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in the united states, if a businessperson brought an elaborately wrapped gift to a prospective client on their first meeting, it might be viewed as

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conflicts of interest

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if a corporate manager makes a decision that results in personal financial benefit while the company's owners lose financially, this is an ethical issue related to

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bribery

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if the owner of a toy store seeking a price reduction givees the manager of a toy manufacturing company a new personal computer, the toy-store owner is using which approach to influence the manufacturer's decision making

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. politely turn it down and discuss the offer with her boss

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a supplier of a component part has offered karen's family a free two-week cruise if his firm gets a very large order from karen's company. the most ethical course of action for karen to take would be to

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fairness and honesty

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That businesspeople are expected not to harm customers, clients, and competitors knowingly through deception, misrepresentation, coercion, or discrimination is part of

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fairness and honesty

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When the video game marketer Nintendo was investigated for allegedly raising prices excessively during the Christmas buying season and thereby manipulating the supply of games available at that time, this was an ethical issue concerned primarily with

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communications

answer

When Kellogg changed the name of its Heartwise cereal to Fiberwise, it was in response to growing concern from the public and the government about unsubstantiated health claims. The primary area of ethical concern in this case was questionable

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Communications

answer

The Surgeon General's warning on cigarette packages about the health implications of smoking is an example of which of the following ethical issues

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keeping company secrets

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The following behavior is an example of ethical consideration within business relationships

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business relationships

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If a manager pressures a subordinate to engage in activities that he or she may otherwise view as unethical, such as accounting fraud or stealing a competitor's secrets, there exists an ethical issue related to

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plagiarism

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If an employee learned of a significant cost-saving idea from a coworker and then informed management of the idea without revealing its true source, then the employee would be involved in

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code of ethics

answer

A set of formalized rules and standards that describe what a company expects of its employees is called a

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Whistleblowing

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What occurs when an employee exposes an employer's wrongdoing to outsiders

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limiting the opportunity to behave unethically by providing punishments for violations of the rules and standards

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Codes of ethics foster ethical behavior by

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depend totally on employees' personal ethics

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Unethical behavior in business can be reduced if management does all of the following except

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...

answer

According to the text, ethical decisions in an organization are influenced by (1) individual moral standards, (2) the influence of managers and co-workers, and (3)

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Understanding that individual moral standards, the influence of managers and coworkers, and opportunity influence ethical behavior

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Which of the following should help reduce the incidence of unethical behavior in an organization

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Economic

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Being profitable relates to which social responsibility dimension

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Altruistic

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Which of the following is not one of the dimensions of social responsibility

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All of the above

answer

Which of the following began as a small business based on the entrepreneurial vision of its founders

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500 people

answer

Your textbook uses the term small business to refer to an owner-managed business that employs not more than

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It employs more than 500 employees

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Which of the following is not part of the definition of a small business

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as an independent agency of the federal government to provide managerial and financial assistance to small businesses

answer

The Small Business Administration was established

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minorities such as Hispanics, African Americans, and Native Americans

answer

Which of the following groups is most rapidly increasing their presence in the business world

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small businesses

answer

The majority of all new jobs created in the United States in recent years were generated by

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their ability to innovate and bring significant changes and benefits to customers

answer

Perhaps one of the most significant strengths of small businesses is

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Retailing and wholesaling, services, manufacturing, and high technology

answer

Which of the following fields are most attractive to small businesses

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Retailing requires a large capital investment

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Which of the following is not a reason why small businesses choose to become retailers

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equipment and distribution systems

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In the context of starting a new business, a retailer differs from a manufacturer in that the retailer is less likely to make a heavy investment in

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sell their services to consumers

answer

Many service businesses are considered retailers because they

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service providers

answer

One of the fastest growing sectors of the U.S. economy is represented by

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be their own boss

answer

One of the major reasons people want to own and operate their own business is to

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flexibility

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When market conditions change rapidly, a small business usually has fewer layers of management to work through in making decisions. This advantage of small business is

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Lower cost of formation

answer

Which of the following is an advantage of small-business ownership

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Over-optimism

answer

Which of the following is not an advantage of small-business ownership

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are better able to focus on a few key customers

answer

One advantage that small businesses have over large businesses is that they

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an enviable reputation for quality and service

answer

A small business's ability to focus on narrow niches can help it develop

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a high stress level

answer

Worries about new equipment, expanding inventory, rent increases, competition, changing market conditions, and the like may contribute to

question

very high

answer

Although some businesses are less risky than others, overall the financial risks of running a small business are

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High failure rate

answer

Which of the following is a disadvantage of small-business ownership

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reputation

answer

All of the following concerns contribute to high stress levels for small-business owners except

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is not guaranteed

answer

Small business success

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Entrepreneurial vision

answer

Which of the following is not a common cause of small business failure

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from the start

answer

Few businesses make money

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