Intro To Bus101

Risk is associated with reward. Business people take a risk that their business might fail in order to get a reward, which is

Which of the following is NOT true about knowledge workers?

Which of the following is NOT true about society’s demand curve?

In a publicly traded, for profit business corporation, the owners are the

Which of the following is NOT one of the trends in e-commerce today?

Peter van Stolk, founder of Jones Soda, develops offbeat flavors that appeal to teens, who he knows are also interested in the Internet and extreme sports. Peter van Stolk has a good understanding of his company’s target group.

One of the most significant drawbacks of international mergers and acquisitions is the difficulty of integrating the operations, finances, and cultures of two very different organizations.

Which of the following is NOT one of the benefits of free trade among nations?

Who or what benefits most from barriers to trade, also called protection?

Japan limits the amount of foreign-grown rice that can be sold in that country by imposing a very high import tax. This protects high-cost domestic rice producers because it forces rice importers to raise prices, making imported rice less competitive against rice grown in Japan. This type of trade barrier is called

Globalization is

When Home Depot donated millions of dollars of supplies to victims of hurricanes in New Orleans, it was primarily adopting a societal responsibility model of business governance.

A U.S. corporation’s decision to reincorporate in Bermuda may be both legal and unethical.

Jeffrey Wigand was a research scientist employed by Brown & Williamson, a tobacco firm, until he was fired following his public statements about the dangers of cigarettes. Wigand was acting as a

Elsa, Steve, and Adrienne formed a partnership to own and operate a wine shop. Elsa manages the shop and Steve travels the world buying wine. Adrienne contributed some start-up capital but does not help to run the business. Therefore, it is likely that

Economies of scale occur when

Which of the following is NOT a characteristic common to most entrepreneurs

Which of the following statements sounds most like an entrepreneur?

Which of the following is NOT one of the four basic functions of management

An organization chart represents the

Looking at their employer’s organization chart, Lisa’s name appears in a box that is directly underneath Nellie’s box and a line connects the two boxes. This means that

When managers delegate the __________ for achieving some result to a subordinate, it is very important that they also delegate the __________, to ensure that the subordinates have the power to accomplish the result.

Which of the following is NOT one of the trends having a significant impact on human resources management in the U.S. today?

Job analysis consists of

Of all of the resources commanded by a corporation, which is most likely to lead to a long-term competitive advantage?

Willie says, “I love volunteering at Big Brothers. It’s great to see the happiness on a boy’s face when I take him to a ball game or read a book with him.” Willie’s motivation is

Gordon, a salesperson, says, “My work requires long hours and lots of travel that I don’t like, but the pay is great.” Gordon’s motivation is

Which of the following is NOT part of the marketing mix?

Which of the following is the psychological factor that involves the awareness of cues or stimuli?

Which of the following is considered to be the most important reference group?

Information about which of the following aspect of competitors’ operations is considered to be the least important?

Which of the following is NOT relevant for formulating objectives?

Which of the following is NOT recommended for a brand name?

What percentage of new products fail?

Which of the following is NOT a post presentation activity that salespeople need to perform?

Which of the following is NOT indicated in the text as a recommendation as to how to successfully close.

Which of the following is NOT identified in the text as a part of a code of ethics for salespeople?

Accounting is

Theodore Roosevelt, speaking about the importance of ethics education, said, “To educate the person in mind and not in __________ is to educate a menace to society.”

The simplest form of business organization is the corporation

Most large organizations do not use just one type of departmentalization. Rather, they mix elements of several types.

A list of the duties, working conditions, and responsibilities of a job is called a job description.

Internal recruiting is likely to lead to more resentment among current employees than is external recruiting.

For a team approach to be successful in an organization, the company should focus on team accomplishments and lessen individual achievements.

Workers at Ford’s engine manufacturing plant in Cleveland learn how to do each task within their work unit, and then take turns performing each task. This is an example of job rotation.

For some products, the cost of their packages may exceed the costs of their contents.

When setting prices for their products or services, companies must consider the amount of marketing support they will receive.

Digital advertising is the fastest growing advertising medium.

The Sarbanes-Oxley Act of 2002 increased oversight of accountants and increased the penalties for professional misconduct.

In a small sole proprietorship, direct observation by the proprietor is a useful internal control on accounting systems.