question

The ___ is the total value of a nation's exports compared to its imports

answer

balance of trade

question

Under a capitalistic system, decisions such as what goods and services to produce,what to charge, and how much to import or export are made of.

answer

individuals

question

We describe charitable donations by corporations to nonprofit organizations as

answer

corporate philanthropy

question

One of the four primary functions of MGMT is

answer

controlling

question

Workers who are paid a _____ receive a fixed mgmt compensation weekly, biweekly, or monthly

answer

salary

question

TF Nonprofit organizations use finical gains to meet stated social or educational goals of the organization rather than personal profit

answer

true

question

Which of the following is the best example of a business whose goal is to earn a profit?

answer

A. Salvation Army B. Boy Scouts C. community college D. Best Buy*

question

The resources that contribute to the creation of wealth are known as ___

answer

factors of production

question

TF Herzberg's research found that improvements in the work environment were a more effective way to motivate employers than improvements in job content

answer

false

question

TF An entrepreneurial team is a a group of experience managers who share the same skills and abilties

answer

false; have a different skills and abilities

question

TF It s usually easy to state and end a sole proprietorship

answer

true

question

TF Networking is the process of establishing and maintaining contacts an using those contacts to develop strong relationships that serve as informal development systems

answer

true

question

theory __ assumes that the average person likes work, and has a relativity high degree of imagination and creativity

answer

Y

question

TF An organizational chart shows who is accountable for the competition of specific work and who reports to whom.

answer

true

question

The ___ is an evaluation of the performance level of employees against established standards to make decisions about promotions, compensation additional training or firing

answer

performance appraisal

question

TF Limited partnerships are just the general partnerships, except that they are partners for a limited time period

answer

false; limited partnerships = limited liability

question

Which of the following is a reason why a business should be managed ethically?

answer

It is the right thing to do

question

TF Span of control refers to the number of different markets a business can serve efficiently

answer

false; span of control refers to the number of subordinates a supervisor has

question

TF Financing is one of the four key functions of management

answer

false ; four key functions organizing, leading, and controlling.

question

TF Departments are functional unit within the business such as sales, accounting, finance and marketing

answer

true

question

Economist Thomas Malthus believed that ___ would limit economic progress

answer

overpoopulation

question

For a firm to be considered a multinational corporation, which of the following conditions must be true?

answer

It must have manufacturing facilties and a physical presence in several countries

question

TF In the day of rapidly changing technology, technical skills are the most important skills for all levels of MGMT

answer

false

question

TF Sovereign Wealth Funds (a form of foreign direct investment) are investment fund controlled by governments that hold large stakes in foreign companies

answer

false

question

As a high net worth individual, Allison searches for growth firms in need of additional funding to achieve their goals. In return for this ___ to assume ownership in the business

answer

venture capital

question

An ____ - based ethics codes emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers

answer

compliance

question

Corporate ____ covers issues such as setting minority hiring practices, manufacturing safe products and minimizing pollution

answer

responsibility

question

TF A legal entity with the authority to act and have liability separate from its owners is called a partnership

answer

false ; corportation

question

TF the United States is the largest exported of the world

answer

False; china

question

TF making ethical choices is always easy

answer

false

question

TF A vision gives the organization a sense of purpose and a set of value that unite employees toward a common destiny

answer

true

question

___ used the terms Theory X and Theory Y to describe different attitudes mangers have about employees

answer

Douglas McGregor

question

___ employment refers to persons who purposefully quit their jobs and have not yet found a new job

answer

Frictional

question

TF According to Adam Smith, the "invisible hand" refer s to the gov't effort to always keep a check on the wealth creation of individuals, so that no one business would control a market for a particular good or service

answer

False; free market not gov't

question

TF Despite all of the changes in the business environment, the basic way a manager performs his or her job has remained remarkably constant

answer

false

question

TF During an interview, a manager should be careful not to ask the applicant about his of her family of other non related jobs

answer

true

question

A newer form of performance appraisal is called the ___ because it encourages feedback from all around the employee including those who report to him/her

answer

360 degree review

question

TF If you have managerial skills and leadership ability, you also posses the personality to be an entrepreneur

answer

false

question

TF to Maslow, people will try to satisfy lower order needs before thy turn their attention to higher order needs

answer

true

question

___ exists when the entire supply of a good is controlled by a single seller

answer

monopoly

question

Which of the following represents the value of one nation;s currency relative to the currencies of another currency?

answer

exchange rate

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