Chris orders a salad at a restaurant. What is the BEST definition of what he is buying?
1 pts
Nina’s furniture store has had a successful year and made a significant profit. Which of the following
using Nina’s store profits would BEST increase productivity?
1 pts
in advance.
The various resources used to create a company’s goods and services are collectively referred to as ________.
1 pts
inventory
Which of the following is an example of real capital?
1 pts
plant
The economy of the United States is ________.
1 pts
-based
Leroy owns a small hardware store that is known for its high level of customer service. A large chain home improvement store has just opened up in his community. Which of the following would BEST help Leroy deal with his new competitor?
1 pts
atricia owns a small electronics store in a rural area. She carries two different brands of weather radios that are equally priced. One model is
well, but the other does not seem to be attracting customers. What should Patricia do?
1 pts
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BUS 100 Exam
01 : 04 : 03
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· Addison wants her new t-shirt store to be environmentally friendly. With the concept of the green economy in mind, which of the following business initiatives would BEST make her business greener?
1 pts
________ refers to a company’s choice to relocate its production facilities overseas or subcontract at least some of the components to foreign companies at low costs.
1 pts
Which of the following BEST enables all companies, regardless of size, to compete in the global market?
1 pts
Bill is an information technology manager for a large firm. His company needs to install a new software program, which he orders from his company’s online supplier. This is an example of ________ e-commerce.
1 pts
The WAWA chain of convenience stores has over 500 locations in five states in the mid-Atlantic region of the United States. WAWA is an example of ________.
1 pts
A(n) ________ is the process by which products, information, and money move between supplier and consumer.
1 pts
chain
Celeste is interested in studying the effects that natural disasters have on the value of goods and services in the affected areas. Her area of study should be ________.
1 pts
marketing
ohn is an employee at a car manufacturer. Today he has come into work to find that production has stopped because the government has determined that the steel used in the cars will be better used in the manufacture of a new railway line. John doesn’t mind, because although his wages are low, he gets paid whether there is any work for him to do or not. John MOST likely lives in a ________.
1 pts
Which transaction best describes bartering?
1 pts
Mae’s Country Kitchen sells out of her cinnamon rolls every morning before 8:30 a.m., and her later customers ask her to make more. The next day, Mae makes an additional two dozen cinnamon rolls and raises the price of an individual cinnamon roll by 50¢. She sells all but one of them. Mae has found the ________ price of her cinnamon rolls.
1 pts
demand
A supply curve illustrates ________.
1 pts
When the supply curve and the demand curve for a single product or service are shown on the same graph, the point at which the curves intersect identifies the ________.
1 pts
What best determines the level of competition?
1 pts
_______ occurs when there are many buyers and sellers of products that are virtually
and any seller can easily enter and exit the market.
1 pts
The gross
product (GDP) measures ________.
1 pts
What does the monthly consumer price index (CPI) measure?
1 pts
________ unemployment measures permanent unemployment associated with massive industry-wide changes that lead to complete elimination of the positions formerly held.
1 pts
The government determines the appropriate level of taxes and spending through its ________.
1 pts
The government manages the supply of money through its ________.
1 pts
foreign policy
Cindy is a popular actress and has won countless acting awards in her 15 years in the industry. People always ask her what her secret is, and Cindy tells them, “Hard work always pays off!” She adds that each time she acts she’s giving her all. Cindy’s belief is most likely in line with her ________.
1 pts
“Nice guys finish last.” and “Hard work always pays off” are examples of ________.
1 pts
s
Which of the following ethical issues should be of the LEAST concern to a business?
1 pts
In business relations all of the following are influenced by our personal ethics EXCEPT ________.
1 pts
behavior
actions
Which of the following would LEAST likely be a source of a company’s values and principles?
1 pts
Victor is using the Internet to research past charges that have been filed against the pharmaceutical company Pharmacure. Victor is primarily trying to find out about Pharmacure’s ________.
1 pts
Which of the following is NOT an example of how corporate social responsibility can be consistent with profitability?
1 pts
Since goods are more widely manufactured and sold in the global marketplace, this has caused U.S. companies to ________.
1 pts
manufacturing facilities because of different ethical standards
ethical standards
When the banana supplier Chiquita begins to improve conditions for its workers by constructing schools for employees’ families, this is an example of which of the pillars of corporate social responsibility?
1 pts
What is a company’s unique responsibility to its stockholders?
1 pts
A toy company regularly donates some of its profits to charitable organizations. This company is exercising ________.
1 pts
Jeremy is a telemarketer who is hearing impaired. His hearing aid helps him take calls at work and this compensates for his disability. He accidentally broke his hearing aid and did not have the money to replace it. He asked for an advance on salary and was refused. He asked for a loan and was refused. As a result, Jeremy was unable to take calls from customers and he was fired from his job because of “poor performance.” Which government agency shall he call to help Jeremy in this situation?
1 pts
The Sarbanes-Oxley Act requires that ________.
1 pts
The link between labor costs in China and the price of MP3 music players in the U.S. is an example of ________.
1 pts
Apple’s selling iPhones to customers in Africa, Asia, and Europe is an example of the globalization of ________.
1 pts
manufacturing
An example of globalization of ________ is Toyota opening a factory in Kentucky.
1 pts
productionselling
A term that describes the movement of production away from a domestic production site to a foreign location is ________ outsourcing.
1 pts
An engineering team has members from Egypt, Malaysia, Australia, Argentina, and the U.S. They communicate by email and videoconferencing. The work of this
team is made easier because of ________.
1 pts
The nation of Baa-Baa raises sheep
ly more efficiently than the nation of Snuggle. Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa. Baa-Baa decides to specialize in sheep raising, to sell wool to Snuggle, and to buy blankets from Snuggle. Snuggle decides to specialize in blanket weaving, to sell blankets to Baa-Baa, and to buy wool from Baa-Baa. This
trade illustrates ________ advantage.
1 pts
internationalglobalization
If the U.S. has the ability to produce more steel than any other country in the world, the U.S. has a(n) ________ advantage in steel production.
1 pts
According to the theory of comparative advantage, if the U.S. and Mexico increase their trade with each other, the two countries will experience ________ standards of living.
1 pts
identicalhigher
The country of Kappa sells pizza for $1.00 each within its borders. But Kappa exports pizzas at a price of $0.30. This is an example of ________.
1 pts
If Ecuador has a dispute with France over the importation of bananas, from which agency can Ecuador seek arbitration?
1 pts
A free trade area that includes Canada and the U.S., but not Japan, is the ________.
1 pts
What is the term for the sale of a domestically produced good in a foreign market?
1 pts
An American company enters the Mexican market by sharing ownership of a subsidiary firm with a Mexican company. This is an example of a(n) ________.
1 pts
joint venture
In order to enter the Spanish market, a Moroccan firm establishes a store that is entirely owned by the Moroccan firm. This is an example of a(n) ________.
1 pts
contract manufacturing arrangement
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