Business 120 Test 1

Consumerism is a widely accepted social movement. Proponents of this believe that__________________is a right of all consumers.
the right to be informed
_____________________provides info to businesses about where people live and their traits, such as race, gender, age, income, and education
demographics
Which of the following is a duty of socially responsible organizations
to deliver consumer value by providing quality products at fair prices
________________is the most basic level of international market development and involves shipping domestic products overseas
exporting
________________________refers to sets of beliefs about right, wrong, good, and bad
ethics
the production of high-performance cars has the lowest opp. cost in germany than in any other country. This means that Germany:
has an absolute advantage in the production of high-performance cars
A __________________ is an agreement between 2 or more companies to join forces to pursue specific opportunities without actually merging their operations
joint venture
During the Relationship Era, businesses believed it was more profitable to
cultivate current customers using technology
Which of the following eras in the history of American business saw a raise in the overall standard of living across the country?
the entrepreneurship era
_________________refers to the quality and quantity of goods available to a population
standard of living
a company with international operation may rely on universal ethical standards to guide:
decision making across a broad spectrum of situations
Which of the following statements indicates the conditions under which the codes of conduct work best
committing to finding solutions that have max financial gain
Which of the following is a key feature of an organization that adopts the marketing concept
departments throughout the organizations adopt a customer orientation
Lisa is a marketing consultant who is trying to help a regional company design an advertising campaign that will appeal to the local population. Her report should take into account _______________ factors such as the age, income, and ethnic composition of the population
demographics
The purpose of the General Agreement on Tariffs and Trade (GATT) was to
encourage worldwide trade
With the passage of the Sarbanes-Oxley Act, the US govt. now provides more protection to workers who engage in:
whistle-blowing
Socially responsible empoyers
ensure that hard work, commitment, and talent pay off
Economics is divided into two core areas of study known as
macro and microeconomics
A basic characteristic of ______________ is that both producers and consumers are free to make their own economic decisions on many basic issues
capitalism
In countries like China and India, the availability of cell phones
has enabled these nations to greatly telecommunications without investment in conventional landlines
Too much taxation, an overuse of regulation, and limited choices in the broader bus. environment are likely to result in:
a decrease in entrepreneurial activities
Which of the following illustrates a true ethical dilemma
Jack has to cover for his manager who has been stealing from the cash register or else he loses his job
For whhich of the following reasons has the fed. govt. become part owner of a number of financial institutions
Bailouts from the 2008 economic crisis
Macroeconomics focuses on
the major issues facing the national economy that may seem abstract, but affect an individual’s day to day life
Which of the following is the most important factor of production in order for an economy to thrive
entrepreneurship
A written code of ethics
is the cornerstone of any formal ethics program
Which of the following are included in the capital factor of production
machines and tools
In an effort to embrace ______________, a large community college system recently built a new “green” campus where facilities were designed and constructed to use energy and water more efficiently in order to conserve the environment and its resources for future generations
sustainable development
Most bus. enterprises in the US are privately owned but the fed govt owns a number of major enterprises e.g. the US Postal Service. This suggests that the US economy is best classified as a
mixed economy
A foreign auto company were able to beat the competition by changing subtle aspects of their cars sold in India to include turban headspace. The company’s understanding of the nation’s ____________________ lead to its success
sociocultural differences
human resources
people
which of the following is a legal and ethical practice
producing high-quality products
Max Education is an organization focused on educating the children from poor families. The funds for the organization are raised by the corporate organizations in the state. Max Ed. is an example of
nonprofit organization
During which era did businesses begin to dominate their markets forcing out competitors, manipulating prices, and exploiting workers, which led to govt to pass laws regulating business
the entrepreneurship era
Neil notices some unethical behavior at his company. If he reports this, he is a
whistle-blower
Nonprofit organizations contribute to our region’s economic stability and growth by employing approximately one in ___________________ workers nationwide
ten
Suppose the value of the US dollar strengthened considerably against the Euro. Who among the following would benefit the most in such a situation
European firms exporting goods to America
Firms that participate in cause-related marketing
find that such programs help build their brands and increase sales
The creation of the World Wide Web has resulted in the rise of ______________________ or online sales which allow businesses to tap into a worldwide community of potential customers
e-commerce