Posted:

According to a supply curve, ________. a. as prices rise, quantity of a product supplied falls

MULTIPLE CHOICE1) According to a supply curve, ________.a. as prices rise, quantity of a product supplied fallsb. as prices fall, quantity of a product supplied increasesc. as prices rise, consumers will buy in larger quantitiesd. as prices rise, the quantity of a product that is supplied also rises2) If buyers’ incomes decrease, the demand curve will shift to the ________ and the price will ________.a. right; fallb. left; fallc. right; rised. left; rise3) The curve that shows the relationship between different prices and the quantity requested at each price is the ________ curve.a. Equilibriumb. Supplyc. Buyingd. Demand4) Consumers can choose from hundreds of different kinds and producers of cheese, each with a slightly different flavor and texture. This type of market structure is known as ________.a. pure competitionb. monopolistic competitionc. a monopolyd. an oligopoly5) RSX Plastic is an Asian company that manufactures commercial plastic products. The company plans to open a production facility in the United States. In order to enter the U.S. market, the company is required to set up a plastic recycling plant that attracts huge fixed costs. This requirement is an example of a(n) ________ for the company.a. opportunityb. weaknessc. strengthd. threat6) During an economic recovery, consumer spending ________ and unemployment ________.a. increases; increasesb. increases; decreasesc. decreases; increasesd. decreases; decreases7) Which of the following functions is typically performed by top managers?a. establishing the structure for the organizationb. supervising lower-level managersc. translating strategic goals into actionsd. putting the systems and resources in place8) Technology has ________ ethical issues.a. expanded the range ofb. reduced the range ofc. made little difference on the range ofd. eliminated most9) Mica learns that her company is secretly dumping untreated waste into the city sewer systems, and she informs the local EPA office. All of the following describe Mica’s ethical situation EXCEPT:a. She is acting as a whistle-blower.b. She has a conflict of interest.c. She is showing integrity.d. She is showing loyalty.10) When Target stores donate 5 percent of its federally taxable income to nonprofit groups, the company is highlighting its ________.a. social auditb. code of conductc. business ethicsd. social responsibility11) Mike was a foreman at Hi-Way Construction and discovered his company was deliberately using faulty materials for a project. Although Mike was worried about his family’s financial security if he lost his job, he went to authorities and informed them of the potentially dangerous construction. Mike’s action is called ________.a. ethical complianceb. Good intentionsc. whistle-blowingd. ethical allegations12) An absolute advantage occurs when a country can maintain ________.a. a monopoly by outlawing foreign importsb. a monopoly by levying high taxes on importsc. a monopoly by being the lowest-cost producerd. its advantage by producing a product more efficiently13) A comparative advantage in a good or service means that ________.a. compared to another country, a nation can produce it more cheaplyb. the nation with the comparative advantage has a monopoly on the good or servicec. a nation must be the absolute best at producing somethingd. compared to another good or service, a nation will produce the one that it produces most efficiently14) A trade deficit occurs when ________.a. imports exceed exportsb. foreign-aid payments exceed exportsc. imports are sold at low profitsd. there is a net flow of money into a country15) Andy works as a junior accountant in a firm. He has a nice house, a good insurance plan, a secure job, an affectionate family, and a close circle of friends. However, he is always sidelined at work, and his contributions and initiatives go unrecognized. His suggestions to improve the work environment are also overlooked. He feels that his superiors at his firm do not respect him. He begins to feel unsatisfied and his productivity reduces. Andy’s manager uses Maslow’s hierarchy, and identifies that Andy is on ________ needs level.a. socialb. safetyc. esteemd. self-actualization16) Which of the following is the first step in the decision for a business to expand globally?a. Determining which foreign markets to enterb. Determining how much it will cost to enter a new marketc. Deciding how to organize the overseas operationsd. Applying for special export credits17) All of the following are social and cultural barriers EXCEPT ________.a. languageb. gift-giving traditionsc. religious attitudesd. currency shifts18) Which of the following would result from devaluation of the U.S. dollar?a. U.S. goods would sell for less abroad.b. The cost of foreign vacations for U.S. citizens would be reduced.c. Foreign firms would have to pay more to purchase U.S. assets.d. Foreign goods would be less expensive for American consumers.19) Of the following industries, which is most likely to be owned by a small business owner?a. nursing homesb. paper millsc. home buildingd. railroad car makers20) Carrey works as a bank teller who handles deposits and disbursement. In an attempt to improve her motivation, Carrie’s manager asks her to distribute traveler’s checks and sell certificates of deposit as well. Though the additional tasks are not more challenging than what Carrey has been doing, they give her more to do. This is an example of ________.a. job rotationb. cross-trainingc. job enlargementd. benchmarking21) Megan is an HR representative at Canales Investment firm. The firm needs to recruit new sales representatives, as the firm plans to expand its business. Megan is asked to review the job responsibilities of the current sales representatives, and makes a list of the key tasks and responsibilities associated with the position. She is also asked to create an optimal employee profile to fill the sales representative position. The task assigned to Megan can be classified under which of the following processes?a. job analysisb. job enrichmentc. job enlargementd. job rotation22) Which of the following statements best describes how entrepreneurs view failure?a. They view failure as a learning experience.b. They don’t worry about failing because something better always comes along.c. They enjoy risk and gambling.d. They worry that if they fail they’ll never get another opportunity23) Sole proprietorships have all of the following advantages EXCEPT ________.a. ease of formationb. unlimited lifec. ease of liquidationd. profits subject only to a single tax24) Creative Solutions, a Chicago based advertising agency, allows its team of copywriters to control the pace of work and determination of work assignments. The team is comprised only of copywriters, and team members have the freedom to make their own decisions. The firm has a strong policy against work-from-home. This is an example of which of the following forms of teams?a. cross-functional teamb. virtual teamc. manger-led teamd. self-managed team25) Which of the following is an advantage of buying into a franchise system?a. It comes with an established business system.b. It comes with a workforce.c. It already has a customer base with ongoing sales.d. It allows the owner to have a very high level of freedom.e. It requires the owner to establish brand recognition from scratch.TRUE OR FALSE26) All companies consistently set and meet high ethical standards.27) Some people engage in activities that are contrary to their personal and moral values because they feel pressured on their jobs.28) In a partnership, each partner is liable for the business-related debts of the other partners.FILL-IN-THE-BLANK29) A ___________________ is exempt from paying income taxes and is not formed for financial gain.30) A ________________summarizes a proposed business venture, communicates the company’s goals, highlights how management intends to achieve those goals, and shows how customers will benefit from the company’s goods or services.

Order | Check Discount