Business 1010 Final

Jose called an electrician to repair some appliances in his home. Which of the following terms BEST describes the electrician’s repairs?
a. a liability
b. a benefit
c. a service
d. an appointment
e. a good
c. a service
Which of the following is an example of real capital?
a. computer software
b. natural gas
c. a business loan
d. personal savings
e. a manufacturing plant
e. a manufacturing plant
Competition affects companies in all of the following ways EXCEPT ________.
a. forcing them to lower their prices
b. forcing them to increase their production levels
c. forcing them to deliver customer satisfaction
d. forcing them to improve their products
e. forcing them to aggressively promote their brands
b. forcing them to increase their production levels
Which of the following would MOST likely happen to companies that are less efficient than their competitors?
a. They would become a target for a hostile takeover.
b. They would be taken over by the government.
c. They would close down.
d.They would continue to do business as usual.
e. They would receive additional money from investors.
c. they would close down
Jarvis runs a restaurant that has had a lot of complaints from customers lately. Jarvis is a strict manager and prefers to make all the decisions himself. A concerned friend recommends that Jarvis delegate more decision-making responsibility to his employees. Which of the following would be the MOST likely result of Jarvis’ delegating responsibility?
a. Customer satisfaction will improve because employees can be more responsive to customer needs.
b. Customer satisfaction will decrease because employees will make the wrong decisions.
c. Customers will be upset because the restaurant is being run differently.
d. Employees will quit because of the change in Jarvis’ management style.
e. The restaurant will need to increase its prices.
a. Customer satisfaction will improve because employees can be more responsive to customer needs.
Which of the following events would MOST likely change the racial demographic of a population?
a. a political scandal
b. an influx of immigrants
c. the green movement
d. an economic slump
e. an aging population
b. an influx of immigrants
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?
a. sell t-shirts with environmental slogans
b. raise prices to include the cost of a donation to a green nonprofit organization
c. install solar panels on her store’s roof to provide electricity
d. mail out paper fliers advertising her business
e. giving a discount to customers who claim to be environmentally conscious
c. install solar panels on her store’s roof to provide electricity
________ 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.
Offshoring
“Computers are outdated after three years and obsolete after five.” What aspect of technology does that statement BEST represent
a. Technological innovation is expensive and time-consuming.
b. Technological innovation is necessary in order to remain competitive.
c. Technological innovation can help streamline businesses and cut costs.
d. Technological innovations can be used to keep a company well-organized.
e. Technological innovation is changing the focus of how many businesses are run.
a. Technological innovation is expensive and time-consuming.
Which of the following poses the MOST COMMON financial threat to local and regional businesses?
a. inefficiency
b. undercapitalization
c. low productivity
d. limited customer base
e. employee retention
b. undercapitalization
Your life is similar to a small company in that it requires careful planning, precise record keeping, and ________.
a. physical fitness
b. a current resume
c. openness to change
d. a good memory
e. an outgoing personality
c. openness to change
A free market economy is one in which ________.
a. individuals determine what to produce with some level of government involvement
b. privately owned, profit-seeking enterprises are converted to government-owned production and services
c. the government or other centralized group determines what to produce
d. a tightly knit social network barters and trades for goods at a market
e. individuals and private firms make decisions based on consumer needs and wants
e. individuals and private firms make decisions based on consumer needs and wants
Socialism is similar to communism in that ________.
a. the government provides all of the social services
b. the government distributes goods and services
c. the government experiences shortages of goods and services
d. the governments fail under economic stress
e. the government does not intervene in industry
b. the government distributes goods and services
A supply curve illustrates ________.
the effects of price on quantity supplied
A demand curve illustrates ________.
the effects of price on quantity demanded
Taken together, iPod and iTunes are ________.
complementary goods
What are substitute goods?
goods that can be used in place of others
The ________ and the Department of Justice must review mergers between large competitors to determine whether the combined firm would be a monopolistic corporation.
Federal Trade Commission
Which of the following industries is LEAST likely to form an oligopoly?
a. automobile
b. airline
c. consulting
d. pharmaceutical
e. tobacco
c. consulting
The gross national product (GNP) measures ________.
a country’s overall income resulting from production in a year
A continuous decrease in the level of prices over time is called ________.
deflation
The average total of goods and services required to maintain a particular standard of living is called ________.
the cost of living
________ unemployment measures those out of work during the off-season, such as those employed in snow- or beach-related industries, agriculture, and/or holiday activities.
seasonal
i love you
love BRITT
The government manages the supply of money through its ________.
monetary policy
In which part of the business cycle is the Federal Reserve most likely to increase the discount rate to discourage banks from borrowing?
a. peak
b. recession
c. depression
d. trough
e. expansion
e. expansion
Unethical behavior is defined as behavior that does not conform to a set of approved standards of ________ behavior.
social
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 ________.
personal ethics
In business relations all of the following are influenced by our personal ethics EXCEPT ________.
a. job titles
b. thoughts
c. behavior
d. words
e. actions
a. job titles
Which of the following is NOT an example of how corporate social responsibility can be consistent with profitability?
a. encouraging employees to volunteer within the local community
b. offering bonuses to employees who embellish profit and loss statements
c. improving environmental practices in their factories and plants
d. paying employees in a developing nation more than the minimum
e. using recycled styrofoam as cups in a coffee shop
b. offering bonuses to employees who embellish profit and loss statements
When a community gives Walmart subsidies to attract them to the area and then the workers are paid so poorly that they have to apply for public assistance, this is an example of the failure of which of the pillars of corporate social responsibility?
a. ethical sourcing and procurement
b. community and “good neighbor” policies
c. human rights and employment standards in the workplace
d. marketing and consumer issues
e. environmental, health, and safety concerns
b. community and “good neighbor” policies
Which of the following is NOT a benefit of corporate social responsibility?
a. Costs for materials and labor are lower.
b. A company enjoys strong recruitment and retention of the best available talent.
c. The best available talent is retained.
d. Efficiency increases when companies use materials efficiently and minimize waste.
e. Sales increase through environmentally and ethically conscious labeling.
a. Costs for materials and labor are lower.
Which of the following is an internal examination by a company to measure its performance in relation to corporate social responsibility?
a. a corporate watchdog analysis
b. self-reporting
c. code of ethics
d. a social audit
e. public ratings and rankings
d. a social audit
A toy company regularly donates some of its profits to charitable organizations. This company is exercising ________.
corporate philanthropy
________ are the specific laws that govern the products and processes of an industry.
Legal regulations
Conducting a business within the boundaries of all laws that govern that industry is referred to as legal ________.
compliance
The Sarbanes-Oxley Act requires that ________.
CEOs verify their companies’ financial statements and vouch for their accuracy with the SEC
Which of the following steps would be LEAST likely to improve the culture of ethical and responsible conduct in a business?
a. Calendars with the mission statement of the company can be printed and distributed for all employees to use at home and to give away at holiday time.
b. Orientation programs can be offered to inform new employees of ethical standards in place and conduct expected of them.
c. The mission statement can be posted throughout the workplace.
d. Managers can set clear examples for the standards of behavior expected.
e. Companies can employ ongoing ethics training programs designed to boost the awareness of their employees about ethics issues.
a. Calendars with the mission statement of the company can be printed and distributed for all employees to use at home and to give away at holiday time.
The link between labor costs in China and the price of MP3 music players in the U.S. is an example of ________.
globalization
A term that describes the movement of production away from a domestic production site to a foreign location is ________ outsourcing.
offshore
Which of the following is contributing to the acceleration of globalization?
a. a rise in the number of non-U.S. small, local businesses
b. increasing democratization
c. the dominance of the U.S. economic system
d. restricting the amount of foreign direct investment
e. a shrinking role for developing nations
b. increasing democratization
The nation of Baa-Baa raises sheep relatively 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 international trade illustrates ________ advantage.
comparative
If the nation of Epsilon places a tax on all grapes imported from the nation of Zeta, Epsilon has imposed a(n) ________.
tariff
The cheap foreign labor argument for protectionism relates to ________.
a lower wage often earned by many foreign workers
A free trade area that includes Canada and the U.S., but not Japan, is the ________.
North American Free Trade Agreement (NAFTA)
A consumer products company competes around the world primarily by customizing or differentiating its products to meet unique local needs, tastes, or preferences. The company is using a ________ strategy.
multidomestic
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) ________.
joint venture
U.S importers prefer a(n) ________ dollar.
strong
Most countries operate under a(n) ________ exchange rate system.
freely floating
International businesses prefer ________ economies to ________ economies because the bureaucratic hassles associated with government intervention drive costs up.
free market; state-run
If a Turkish company closes its U.S. offices on Easter Sunday, the company is giving PRIMARY consideration to ________.
religion
Which of the following is LEAST likely to be a characteristic of successful entrepreneurs?
a. prefers not to work for other people
b. is motivated to succeed
c. likes to take risks
d. is flexible and self-directed
e. prefers not to work around other people
e. prefers not to work around other people
Lifestyle entrepreneurs ________.
want flexibility and freedom in the way they balance their personal and work lives
A(n) ________ is defined as a business that is independently owned and operated and is not dominant in its field of operations.
small business
Small businesses are important to the economy because ________.
they generate about 65 percent of net new jobs in the United States
Which of the following BEST explains why small businesses can be so effective in fostering innovation?
a. Small business’ flexibility allows them to react quickly to changing market needs and trends.
b. SBA’s venture capital program provides funding needed for rapid new product development.
c. Employees of small businesses tend to be more creative than those of large businesses.
d. Entrepreneurs typically prefer to work in small businesses rather than large ones.
e. Small businesses don’t need to adhere to all the regulations that larger companies do
a. Small business’ flexibility allows them to react quickly to changing market needs and trends.
All of the following are reasons why people start small businesses EXCEPT ________.
a. more control of business decisions
b. financial independence
c. idea for product or service not currently available
d. reduced levels of responsibility
e. lack of other employment opportunities
d. reduced levels of responsibility
Since Ben opened his own computer repair business, he has had to take a lot of time off to care for his mother who has been seriously ill. In his old job, he would not have been allowed to take so much time off. What advantage of owning a small business is BEST displayed by Ben’s situation?
a. less bureaucracy
b. innovation
c. financial independence
d. flexibility
e. opportunity
d. flexibility
If you are planning to start a new business, how long should you realistically expect it to take for your business to earn a profit?
three to five years
Which of the following statements is TRUE about franchising?
a. Franchisees have relatively lower risk than other small business start-ups.
b. Franchisers encourage franchisees to be independent and creative in running their operations.
c. Franchisees don’t need to pay royalty fees to their franchisers.
d. All franchises restrict the location and number of their franchise locations.
e. Franchisees enjoy guaranteed minimum annual revenues based on their territory.
a. Franchisees have relatively lower risk than other small business start-ups.
Isaac is a franchise owner of a fast food restaurant. When another franchisee is accused of using artificial meat in its hamburgers, sales at Isaac’s franchise location drop dramatically. What disadvantage of franchising is BEST demonstrated by Isaac’s situation?
a. lack of advertising support
b. lack of control
c. competition
d. sharing common problems
e. poor initial training
d. sharing common problems
Regardless of how well or poorly a franchise business is doing, franchisees must give the franchiser a monthly ________.
royalty fee
Which of the following is NOT an advantage of buying an existing business?
a. An existing business has an existing customer base.
b. It is simpler than beginning a new business from scratch.
c. There is a reduction in start-up time and energy.
d. It might be easier to obtain financing to purchase the existing business.
e. An existing business has less competition.
e. An existing business has less competition.
________ is the process of performing research and analysis of a business to uncover any hidden problems associated with it.
Due diligence
Fred started his new landscaping business with a commercial loan. He uses his credit card to pay for weekly supplies such as fertilizer and mulch. Business growth has been slow and Fred is having a difficult time keeping up with his monthly loan and credit card payments. He is now considering borrowing against his home to stay current with his initial loan and for other needed expenses. Fred’s business is MOST at risk because ________.
a. Fred is too lenient on the terms of collection.
b. Fred has not acquired enough customers.
c. Fred is taking on too much debt.
d. Fred’s business does not have enough revenue.
e. Fred’s home may not have enough equity to qualify him for an additional loan.
c. Fred is taking on too much debt.
A ________ is a formal document that states the goals of the business as well as the intended process for reaching those goals.
business plan
The government agency whose sole purpose is to cater to the needs of small businesses is ________.
the Small Business Administration
Small business owners can seek professional advice at no cost through ________.
the Service Corps of Retired Executives
What would be the GREATEST advantage of having a partner as opposed to having an advisory board?
a. A partner would be able to make decisions that differed from that of the other owner.
b. A partner would provide more varied perspectives than that of an advisory board.
c. A partner would not be authorized to make decisions.
d. A partner would be less likely to disagree with the other owner’s ideas.
e. A partner would be more committed to the success of the business than an advisory board.
e. A partner would be more committed to the success of the business than an advisory board.
What is the most common reason small business owners neglect to seek outside help when starting a business?
a. They think outsiders would not act in the best interests of their business.
b. They believe that it is exclusively up to the business owner to make a small business succeed.
c. They assume that no one outside of their family would be interested in helping them.
d. They think that they cannot afford professional advice.
e. They believe that professional advice is not necessary.
d. They think that they cannot afford professional advice.
If you’re purchasing an existing business or a franchise, banks may offer lines of credit to help you ________.
make payroll when business is slow
________ are private venture capital firms licensed by the Small Business Administration to make equity capital or long-term loans available to small companies.
Small Business Investment Companies
One disadvantage of sole proprietorship is the ________.
unlimited liability the owner has for the debts of the company
A sole proprietor’s income and expenses flow through ________.
his or her personal tax returns
The most significant difference between a partnership and a sole proprietor is the ________.
number of people contributing resources
It’s important for partners to spell out the details of their partnership arrangements in writing because ________.
a written agreement will help reduce misunderstandings and disagreements among the partners
In a partnership, the type of partner that is responsible for all claims against the company is called a(n) ________.
general partner
Which of the following parts of a partnership agreement spells out the policy regarding partners entering into key financial or contractual agreements?
a. addition of partners
b. responsibilities of partners
c. departure of partners
d. capital contributions
e. decision-making process
b. responsibilities of partners
Nick is investing $25,000 in a partnership with his sister and brother. Nick does not want to be an active part of the partnership and can only afford to risk the $25,000 he is investing. His brother and sister agree to let him share a proportionate amount of the profits. Nick is a ________ in this partnership.
limited partner
Which of the following is the MOST compelling argument for incorporating a business?
a. to protect the owners’ personal assets
b. to avoid paying federal taxes
c. to avoid lots of paperwork
d. to complete minimal legal requirements
e. to hire more employees
a. to protect the owners’ personal assets
Owners of limited liability companies are referred to as ________, while owners of corporations are called ________.
members; shareholders
In a large corporation, shareholders responsibilities include ________.
electing a board of directors
Which of the following is a disadvantage of forming a corporation?
a. limited life
b. double taxation
c. less flexibility raising capital
d. unlimited liability of owners
e. difficult transfer of ownership
b. double taxation
Which of the following types of ownership is limited to 100 owners?
a. C corporation
b. S corporation
c. limited liability company
d. sole proprietor
e. general partnership
b. S corporation
Compared to the C corporation, the limited liability company is an attractive form of business ownership because ________.
a limited liability company does not require the firm to hold annual meetings and it can avoid double taxation
All of the following are reasons business owners consider using a corporation structure of ownership EXCEPT ________.
a. protection from significant loss of personal assets
b. ease of forming and setting up the structure
c. the appearance of stability and legitimacy
d. eased ability of raising capital
e. ease of transferring ownership
b. ease of forming and setting up the structure
Which of the following methods do not-for-profit corporations primarily use to generate revenues?
a. not providing employees with health insurance
b. withholding employees’ salaries
c. organizing fund-raising events
d. issuing shares of corporate stock
e. scaling down big-budget projects
c. organizing fund-raising events
A cooperative is a type of business that is owned by ________ who use its products or services.
members
Companies MOST often resort to mergers and acquisitions when they want to expand their markets and product lines because ________.
a. it minimizes time and investment to research and develop new products
b. it minimizes conflicts that are rooted on hidden agendas and power struggles
c. upper management prefers to concentrate on day-to-day activities
d. employees are motivated to work harder because of the resulting stability
e. more than 70 percent of all mergers exceed financial expectations
a. it minimizes time and investment to research and develop new products
Which of the following moves would MOST likely initiate a hostile takeover?
a. The buying company delivers an ultimatum to the target company’s shareholders to give up their shares.
b. The acquiring company offers to buy the target company’s stock at a lower price, indicating the vulnerability of the target.
c. The buying company offers to buy the target company’s stocks at a price higher than their current value.
d. The target company’s shareholders agree to sell their company’s stocks all at the same time.
e. The target company’s shareholders offer their company’s stocks at an attractive rate to the buying company.
c. The buying company offers to buy the target company’s stocks at a price higher than their current value.
When two companies in entirely different industries combine, it is known as a ________.
conglomeration
Regulatory bodies like the SEC and the FTC have the power to pass ________ law
administrative
Statutory law is ________.
written law determined by the legislative branch of the government
Common law ________.
is created by the judicial branch
________ form the basis for much personal and business interaction, including when a company hires another company or individual to do work for them or when property is bought and sold.
Contracts
A customer was dissatisfied after an experience at a hair salon. She posted extensively about her dissatisfaction on the Internet, making derogatory remarks about the stylist’s abilities and the hygiene at the salon. If the hair stylist wanted to sue the customer, under which law could the stylist proceed?
intentional tort
________ is most often associated with manufacturing defects, design or marketing defects, and a failure to warn.
Product liability
The Nike swoosh, McDonald’s golden arches, and Apple’s apple are all examples of ________.
trademarks
What government body was established in 1970 to “protect human health and the environment?”
EPA (Environmental Protection Agency)
Truth-in-advertising rules do all of the following EXCEPT
a. ensure that advertisements do not cause unavoidable consumer injury that is not outweighed by the benefit
b. ensure that cigarette packages contain warning labels
c. ensure that advertisements are nondeceptive
d. ensure that there is sufficient evidence to support claims made in advertisements
e. ensure that the advertisements are not unfair
b. ensure that cigarette packages contain warning labels
Chapter 11 bankruptcy ________.
allows a business to pay its creditors over time
Which is a primary function of management?
a. organizing
b. planning
c. all of the above
d. leading
e. monitoring
c. all of the above
Which of the following processes BEST describes how managers identify unseen problems?
a. looking at the most recent sales figures
b. setting aside time to talk to middle managers
c. listening to messages on the consumer complaint line
d. analyzing data and searching for trends
e. looking at sales projections and comparing current figures
d. analyzing data and searching for trends
________ and organizing are two of a manager’s most important responsibilities.
Planning
Mission statements reflect the personality of ________.
a company
________ plans depend on daily or weekly schedules and focus on specific departments or employees.
Operational
Which type of plan will keep an organization running in the event of a disruption?
contingency
A(n) ________ organization has few people in power and many following.
vertical
In an organizational chart for a company, training will generally fall under what division?
human resources
Network organization is an emerging business structure in which ________ collaborate.
a group of companies
Luis works as a marketing manager for a consumer products company. He feels strongly about the product lines he manages and is dedicated to the company’s mission and ideals. Luis’ product lines are among the best sellers in the company. According to the Q12, Luis is classified as ________.
a. moderately disengaged
b. unengaging
c. not engaged
d. actively disengaged
e. engaged
e. engaged
According to Maslow, which need are people striving to satisfy when they seek stable places to live and work?
safety
Martin was named “Employee of the Month” for his outstanding customer service. According to Maslow, this award may help satisfy Martin’s need for ________.
esteem
The need for affiliation in McClelland’s “three-needs” theory most closely resembles which need in Maslow’s hierarchy?
belonging
Which statement about a Theory Y management style is FALSE?
a. People mainly want security in their jobs.
b. People see work as a natural part of life.
c. Managers allow employees to create their own motivation.
d. People mainly seek intellectual stimulation in their work.
e. People will inherently seek responsibility.
a. People mainly want security in their jobs.
Which statement about Theory Z is FALSE?
a. It often creates high productivity.
b. It often creates high morale in the workplace.
c. It relies on collaborative decision making.
d. It often creates high turnover.
e. It is based on a Japanese management style.
d. It often creates high turnover.
According to the Hawthorne effect, ________.
workers will be more productive when they know they are being studied
Timothy is president of a large company. He is known for being an excellent listener and collaborator. He believes that the working environment would improve if employees were organized into cross-functional work teams instead of functional departments. In order to build a consensus for this new environment, Timothy asks for employee input and participation. Which of the following best describes Timothy’s leadership style?
a. democratic
b. visionary
c. laissez-faire
d. affiliative
e. autocratic
a. democratic
Jeffrey runs a small magazine, which has always been printed and mailed to subscribers. Jeffrey has dreamed of creating a way to provide customers with an inexpensive, portable, electronic resource for reading magazines. To inspire his employees and move them toward sharing in his dream, he holds small group meetings to explain how their efforts can contribute to his goals. Which of the following best describes Jeffrey’s leadership style?
a. democratic
b. visionary
c. autocratic
d. laissez-faire
e. affiliative
b. visionary
Maxwell is a freshman in college and believes in his self-worth and value. He has high expectations for his achievement in his eventual career. Maxwell spends a good deal of money each month, often making “copurchases” with his parents. Maxwell is most likely from which generation?
Millennial
Elizabeth saw a posting for a new job on the company’s intranet. She was interested in the new challenges this job could provide her, so she applied right away. Elizabeth’s company was performing ________.
internal recruiting
Roseanne is in the process of hiring a new administrative assistant. What is the last step in this hiring process?
monitor through probationary period
Tyrone is an African American and, during a recent job interview, was told that he would not be hired because the interviewer had issues with the color of his skin. Which federal law was created to combat this kind of discrimination?
Civil Rights Act of 1964
An insurance company was posting a job notice about a new position within the company. The notice stated that a younger employee was desirable because they thought he/she would stay with the company for a longer period of time. This kind of behavior is considered illegal under the ________.
Age Discrimination in Employment Act
Yvette was recently hired as a restaurant manager for McDonald’s and must attend classes at Hamburger University. This is an example of ________.
off-the-job training
Kathleen wants to be a nurse manager at a local children’s hospital. She is studying for this position through a distance learning program and is taking a class offered by a university in another state. The type of training Kathleen is experiencing is ________.
programmed learning
Chelsea is a marketing manager and receives a lump sum payment from her company based on the company’s higher-than-normal profits from last year. Chelsea’s compensation is called a ________.
bonus
Carson is involved in a defined contribution plan where he actually owns part of his company without his having to purchase stock. Instead his company contributes its stock to his plan. Because of this, Carson feels more connected to the business and is motivated to ensure its success. Carson is participating in a(n) ________.
ESOP
Which of the following is also known as a “cafeteria plan?”
flexible benefit plan
Benjamin has a full-time job and has decided to work toward earning his master’s degree at a local university. Some days he works from 7:00 A.M. until 3:30 P.M. so he can leave in time to attend his 4:00 P.M. classes. The rest of the week, Benjamin works from 8:00 A.M. until 4:30 P.M. From this example, we know Benjamin’s company allows ________.
flextime schedules
Linda owns a bakery and wants to hire Bill, a Web-page developer, to create a new site for her company. Linda does not need Bill on staff permanently. Bill would be considered a(n) ________.
independent contractor
Which of the following is NOT a legally defensible reason for terminating an employee?
testifying against the company in a legal proceeding
Veronica is reentering the workforce after years away caring for her elderly parents. She is making many assumptions about today’s workplace. Which of Veronica’s assumptions is FALSE?
a. Women receive fewer promotions than their male counterparts.
b. The number of women in the workforce is growing.
c. Women may face sexual harassment in the workplace.
d. Women receive pay equal to their male counterparts.
e. Women battle sexism in the workplace.
d. Women receive pay equal to their male counterparts.
Orson works with a group of employees who would like to form a union. Orson and a majority of his coworkers band together to form a group responsible for negotiating better working conditions or pay. Orson and his coworkers formed ________.
a bargaining unit
When Firefighters Local 48 negotiates directly and only with its employers for better work conditions and terms of employment, it is called ________.
collective bargaining
Recently, negotiations between a local housepainters union and their employer came to an impasse. The employer felt he had a legitimate position in the negotiations and refused to allow union member painters from entering the premises. This is called a ________.
lockout
When plumbers from a local union stopped working during negotiations, management hired replacement plumbers so the effects on their business would be lessened. These replacement plumbers are called ________.
strikebreakers
The online advertising acronym PPC stands for ________.
pay-per-click
Viral marketing is least likely to occur via ________.
a. websites
b. social networks
c. e-mail
d. YouTube
e. television
e. television
UPS has a(n) ________ that allows businesses to examine UPS services and prices and track shipments.
company website
The person in charge of technology-enabled information processing in companies is most often called the ________.
chief information officer
Which of the following is a function of a company’s IT department?
a. identifying new locations for company offices
b. setting sales targets for technology products
c. marketing new technologies to consumers
d. determining shipping and gift wrap options for items sold online
e. managing the use of mobile computing
e. managing the use of mobile computing
Which of the following BEST describes how businesses convert raw data into information?
a. using the prevalent automatic process
b. asking information technology experts to review data for accuracy
c. storing the data in a data warehouse
d. maintaining the representations of facts or ideas in their original form
e. organizing the data in a way that helps make decisions
e. organizing the data in a way that helps make decisions
What best describes a data mart?
a. a type of business intelligence software used for making purchasing decisions
b. a store where companies can purchase data
c. a process that transforms data into useful business intelligence
d. a collection of data about a single product or department that is part of a larger collection of data
e. a collection of network servers dedicated to hosting database management systems on the Internet
d. a collection of data about a single product or department that is part of a larger collection of data
Which of the following statements BEST supports why hackers present risks to a company’s security?
a. They use encryption schemes to access corporate websites.
b. They distract employees from completing their assigned tasks.
c. They overload a website with traffic to the point that it crashes.
d. They gain unauthorized entry into a company’s computer system.
e. They steal important papers from workers’ desks and offices.
d. They gain unauthorized entry into a company’s computer system.
________ involves tricking a person into entering sensitive personal or financial information into a form on a website or in an e-mail, typically by convincing the person that she is dealing with a site she normally interacts with, such as her bank.
Phishing
What is MOST important for cloud computing?
a. computer backup systems
b. laptops
c. wireless connections
d. Internet
e. smartphones
d. Internet
Which of the following uses of social media would be most most likely to hurt rather than promote one’s business?
a. Making snide comments to undermine one’s competition on social media sites.
b. Using Twitter to announce special promotions that cater to one’s customer base.
c. Studying the users who visit one’s Facebook page to detect patterns.
d. Appealing to the preferences of one’s customer base on social media outlets.
e. Offering people ways to use mobile apps to simplify and improve their customer experience.
a. Making snide comments to undermine one’s competition on social media sites.
One good way to practice active listening skills is to ________.
a. try to think of what you are going to say next on the same subject while you listen
b. jot down your opinions on the subject matter while you listen
c. discuss your own thoughts on the subject when the speaker is finished
d. repeat back points that the speaker made when the speaker is finished
e. make sure you have a solution in your mind before hearing what everyone else has to say
d. repeat back points that the speaker made when the speaker is finished
Which of the following is the most used form of digital communication in the business world?
a. e-mail
b. chat rooms
c. social networks
d. blogs
e. wikis
a. e-mail
Pamela Davis was lauded by her audience after her PowerPoint presentation. Her design was clean and uncluttered. She edited her presentation to make sure there were no unnecessary animations or special effects. Which PowerPoint tip does this reflect?
a. Have a professional design your presentation.
b. Never use special effects.
c. Follow the 6 × 6 × 24 rule.
d. Practice makes perfect.
e. Keep it simple.
e. Keep it simple.