question

In the U.S. economy, ________ are considered the reward for the risk of entering business.

answer

Profits

question

The factors of production in an economic system are ________.

answer

Natural resources, human resources, capital, and entrepreneurship

question

Henry Ford is noted in business history for introducing the moving assembly line, which greatly reduced the cost of producing a car. Assembly lines first became common during the ________.

answer

Production era

question

When Google opened offices in Tokyo, London, and Sydney, they were utilizing ________ by relocating business activities to lower-cost locations overseas.

answer

Offshoring

question

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

answer

Vision

question

"Newman's Own" is a food product line that gives 100% of its after-tax profits to charity. This company is practicing ________.

answer

social responsibility

question

Why should a company act in an ethical manner?

answer

Acting ethically will help a company to prosper in the long run.

question

Individuals who focus only on their own interests when making decisions are at the ________ stage of ethical development.

answer

preconventional - similar question .. has to do with cheating on a test

question

Jack Welch, former CEO of General Electric, is respected in business circles for focusing his company on the welfare of its customers and investors, and for ensuring GE would thrive in the long run. This type of environment is an example of ethical ________.

answer

Leadership

question

When Target stores donate 5 percent of its federally taxable income to nonprofit groups, the company is highlighting its ________.

answer

social responsibility

question

right to fair accounting

answer

something about telling the public first

question

Hailey's research firm was hired by a discount superstore to provide a detailed evaluation regarding consumer preferences. Hailey's analysis involves the study of ________.

answer

Microeconomics

question

The equilibrium price is established when the quantity ________.

answer

purchased is equal to the quantity offered

question

The four different types of market structure in a private enterprise system are ________.

answer

pure competition, monopolistic competition, oligopoly, and monopoly

question

In a ________ system, the government owns all of the nation's major industries, but still allows private ownership in less crucial areas.

answer

Socialism

question

Kim graduated from college in May and is looking for a job. She is ________ unemployed.

answer

Frictionally

question

The Federal Reserve increases the amount of money banks can lend. As a result, interest rates will ________ and economic growth will ________.

answer

fall; increase -- know if the fed DECREASES as well (rise, decrease)

question

A balanced budget will occur when ________.

answer

taxes, fees, and borrowings are equal to government spending for the year

question

Over the past decade, which of the following countries had the highest annual rate of GDP growth?

answer

China -- know that US has the highest NOW

question

A trade deficit occurs when ________.

answer

Imports exceed exports

question

Which of the following would result from devaluation of the U.S. dollar?

answer

U.S. goods would sell for less abroad.

question

A less-developed nation is facing a financial crisis due to the rapid devaluation of its currency. Which of the following might aid this country?

answer

International Monetary Fund

question

BMW and Toyota set up a factory in Brazil to produce minivans. Slightly different minivan versions are sold in Brazil -- one as a Toyota and one as a BMW. This is an example of ________.

answer

joint venture

question

All of the following are contributions of small businesses EXCEPT:

answer

They provide more job security than large corporations.

question

Know the foreign corruption act - question has to do with bribing

answer

Know the foreign corruption act - question has to do with bribing

question

The Small Business Administration (SBA) provides all of the following EXCEPT ________.

answer

Business incubators

question

The ________ industry represents the greatest percentage of minority-owned businesses.

answer

services

question

Sole proprietorships have all of the following advantages EXCEPT

answer

unlimited life

question

An acquisition occurs when ________.

answer

one company purchases the property and assumes the obligations of another company

question

A ________ would most likely be publicly owned.

answer

city sewer system

question

Information technology can help entrepreneurs in all of the following ways EXCEPT by ________.

answer

providing strategic alliances - answer is different on exam -something about financial success

question

An overall idea for how to convert a business idea into a success is called

answer

vision

question

________ are business organizations or groups of private individuals who invest in new or growing firms.

answer

Venture capitalists

question

Lisa is trying to start a new business. A women's business network puts her in touch with an investor who is willing to invest in her company in exchange for an equity stake. This investor is a(n) ________.

answer

angel investor

question

Question about finding business idea - answer: find something you like doing and do it

answer

Question about finding business idea - answer: find something you like doing and do it

question

Question about serial entrepreneurs -

answer

Question about serial entrepreneurs -

question

Intra-preneurship - what are two things CEOs need to promote intra-preneurship in their company?

answer

Intra-preneurship - what are two things CEOs need to promote intra-preneurship in their company?

question

Senior management usually spends the majority of their time on ________ plans.

answer

Strategic

question

Julian owns a bread company and is creating a SWOT analysis to see where he can make improvements and increase sales. All of the following are threats to the success of his company EXCEPT ________.

answer

economies of scale

question

Leaders establish power from all of the following sources EXCEPT their ________.

answer

work ethic

question

Question about corporate culture (easy)

answer

Question about corporate culture (easy)

question

Q: Joann likes to make decisions at top level

answer

= centralization (answer)

question

Departmentalization

answer

involves dividing an organization into different departments, which perform tasks according to the departments' specializations in the organization.

question

All of the following are core responsibilities of human resource managers EXCEPT ________.

answer

company budget forecasts

question

Pham is employed as a human resource manager. His responsibilities might include all of the following activities EXCEPT ________.

answer

projecting sales for the coming six-month period

question

Question about EEOC - discrimination

answer

Question about EEOC - discrimination

question

Antonio is paid $55,000 per year as a research analyst. This type of compensation is called a(n) ________.

answer

salary

question

Robert's company contracted with another business to provide technical and computer support. This is an example of ________.

answer

outsourcing

question

According to Maslow, an individual's first priority is given to which level of need?

answer

Physiological

question

The Fair Labor Standards Act ________.

answer

established the federal minimum wage

question

Rajendra's company posts financial results on the company intranet. This sharing of information will ________ in employee empowerment and will have ________ on product quality.

answer

result; a positive impact

question

Faith works in the bakery at Whole Foods Market. As part of a ________ team, she shares in the responsibility of managing her department's work schedule and ordering baking supplies.

answer

self managed

question

Which stage of team development is marked by conflicts over the team's mission and the roles of team members?

answer

Storming stage

question

Samuel's company has an unwritten rule which implies that all managers must attend team meetings, no matter what projects they're working on. This informal standard of conduct constitutes which type of team?

answer

Team norm

question

The communication carrier is the ________.

answer

channel - similar - has to do with Communication Process (sender)

question

________ listening is the basis for effective communication.

answer

Active

question

Question about selection of suppliers: warranty, checking out other services, speed of delivery

answer

Question about selection of suppliers: warranty, checking out other services, speed of delivery

question

Questions on Utility: pointed out place & form specifically; questioned about something to do with converting raw materials

answer

Questions on Utility: pointed out place & form specifically; questioned about something to do with converting raw materials

question

________ is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

answer

Marketing

question

Place utility is created ________.

answer

by having the good or service available at a convenient location when the consumer wants to buy it

question

The current marketing period is referred to as the ________ era.

answer

relationship

question

Companies use ________ to focus on a specific consumer market by combining product, distribution, promotion, and pricing strategies

answer

marketing mix

question

Wal-Mart uses data ________ to assess local preferences for merchandise so that the company can tailor the inventory of each store accordingly.

answer

mining

question

Developing and maintaining long-term, cost-effective exchange relationships with individual customers, suppliers, employees, and other partners for mutual benefit characterizes ________.

answer

relationship marketing -similar- dealing w. Relationship under Eras of Marketing

question

Question over Relationship Marketing

answer

Question over Relationship Marketing

question

Goods and services are classified as either consumer or business, depending on the ________.

answer

purchasers of the particular item

question

In a process called ________, products pass through a series of stages from their initial appearance to their decline.

answer

product life cycle

question

The Pampered Chef sells gourmet cooking supplies to consumers through the use of cooking parties at the homes of its salespeople. The Pampered Chef is a ________ retailer and uses ________.

answer

non-store; direct selling

question

What method of transportation accounts for the majority of finished goods finding their way to consumers?

answer

trucks

question

Question over Brand Preference

answer

Question over Brand Preference

question

Question over Guerilla Marketing

answer

Question over Guerilla Marketing

question

Question asking last step of the Sales Process = Closing

answer

Question asking last step of the Sales Process = Closing

question

Question over Point of Purchases (POP) Advertising (something about a grocery store)

answer

Question over Point of Purchases (POP) Advertising (something about a grocery store)

question

Question over Publicity that includes "unpaid placement" in the question

answer

Question over Publicity that includes "unpaid placement" in the question

question

Question over Break-Even; answer is "break-even analysis"

answer

Question over Break-Even; answer is "break-even analysis"

question

Raw facts and figures are ________.

answer

data

question

Which of the following is an application program?

answer

Microsoft Excel

question

A program that attaches itself to other programs and changes programs or destroys data is a(n) ________.

answer

computer virus

question

Deciding how to prevent system failures along with the ability to continue operating if computer systems fail is called ________.

answer

disaster recovery planning

question

Question over Malware: malicious program meant to infect computer systems

answer

Question over Malware: malicious program meant to infect computer systems

question

Question over Disaster Recovery Plan

answer

Question over Disaster Recovery Plan

question

The rules followed by accountants when preparing financial statements are referred to as ________.

answer

Generally Accepted Accounting Practices (GAAP)

question

Milwaukee Fabrication has $50 million in assets and $30 million in owners' equity. How much does the firm have in liabilities?

answer

$20 million - similar -

question

Camden Products buys a $500,000 machine by taking out a bank loan. The company's assets will ________ by $500,000 while its liabilities will ________ by $500,000.

answer

rise; rise

question

Kwane wants to assess his firm's ability to meet its short-term obligations. Which of the following ratios are the most relevant?

answer

Liquidity ratios

question

If Topeka Enterprises has a leverage ratio of 40 percent, it means that for every $1 in ________, the firm has 40 cents in ________.

answer

assets; liabilities

question

Question over Foreign Corrupt Practices Act

answer

Question over Foreign Corrupt Practices Act

question

Question of accounting equation: Assets = Liabilities + Owners' Equity

answer

Question of accounting equation: Assets = Liabilities + Owners' Equity

question

The basic form of corporate ownership is ____.

answer

Common stock

question

The two largest stock markets in the world are the ____ and the ____.

answer

New York Stock Exchange; Nasdaq stock market

question

Which of the following is a nondepository financial institution?

answer

Life insurance company - similar -

question

All of the following statements concerning the Fed are correct EXCEPT

answer

credit unions and savings banks must belong to the Fed

question

Which of the following interest rates does the Federal Reserve actually set?

answer

Discount rate

question

When the Fed sells government securities, banks have ________ money to lend and economic growth ________.

answer

less; will slow - maybe a question over this; wasn't positive

question

Question over what affects price of bonds: risk and interest rate

answer

Question over what affects price of bonds: risk and interest rate

question

More than 1 question over the Federal Reserve System

answer

More than 1 question over the Federal Reserve System

question

Question over Insider Trading

answer

Question over Insider Trading

question

Which of the following is the best definition of financial risk?

answer

Risk is the uncertainty regarding the gain or loss from an investment.

question

All of the following are sources of short-term funds EXCEPT ________.

answer

privately placed bonds - possibly a question like this

question

Which of the following assets would a firm most likely finance using long-term sources?

answer

Another company

question

Short-term assets are expected to be converted into cash within _____.

answer

a year

question

The term used to describe the benefits produced by a merger or acquisition is _____.

answer

synergy

question

Question over Financing: providing funds

answer

Question over Financing: providing funds

question

Question over Financial Planning: inflows and outflows

answer

Question over Financial Planning: inflows and outflows

question

Question about Marketable Securities, Accounts Receivable, and Inventory

answer

Question about Marketable Securities, Accounts Receivable, and Inventory

question

Know difference between Debt and Equity Capital

answer

Know difference between Debt and Equity Capital

question

Question on Private Placement: sources of long-term financing

answer

Question on Private Placement: sources of long-term financing

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