Business Game2222

Successful businesses benefit society by providing all of the following, EXCEPT

Student

Response

Value Correct Answer Feedback

A. higher

standards of

living for the

entire

society.

B. employment

opportunities

for members of

the

community.

C. goods and

services that

people need

and want.

D. ever-growing

business

debts and

liabilities.

In a market-based economy, which of the following is the ultimate goal?

Student

Response

Value Correct

Answer

Feedback

A. Tax

reduction

B. Greater

profit

C. Tax

exemption

D. More

investment

Which of the following is a basic assumption of a private enterprise system?

Student

Response

Value Correct

Answer

Feedback

A. Competition

antagonizes

customers.

B. Competition

favors the

government.

C. Competition

deters

investment.

D. Competition

benefits

consumers.

Theresa is leasing a small shop at a mall near her home. Her shop sells homemade perfumes. In Taiwan, a firm that manufactures electric scooters

is internationally recognized for some unique innovations in its products. Although the two businesses vary considerably, they are similar because

Student Response Value Correct Answer Feedback

A. both are

motivated by

factors other

than profit.

B. both use their

revenues to be

socially

responsible.

C. both are seeking

to make a profit.

D. both seek to

serve the

community.

Which of the following factors BEST describes why many multinational companies

seek technology services and manufactured products in countries like India?

Student

Response


A. They

manufacture

higher-quality

products.

B. They are closer

to the targeted

consumer.

C. They are

environmentally

conscious.

D. They produce

goods more

cheaply.

The Nook is the only bookstore in George's neighborhood. Which market structure is

this an example of?

Student

Response

Value Correct

Answer

Feedback

A. Communism

B. Oligopoly

C. Socialism

D. Monopoly

Christine's, a popular sportswear manufacturer, has a factory in

Louisiana and another in Thailand. Which value of the sportswear should

be counted in the United States' gross domestic product?


A. The value of

sportswear

produced in

Thailand

B. The value of

sportswear

produced in

Louisiana

C. The average

value of

sportswear

produced in both

in Louisiana and

Thailand

D. The total value

of sportswear

produced both in

Louisiana and

Thailand

When competition is strong in an oligopoly, which of the following would MOST likely

happen?

Student

Response


A. Consumers

would

complain.

B. Prices

would

differ

slightly.

C. Prices

would go

up fast.

D. Consumers

would buy

a lot.

What MOST likely happens when there are few sellers in a given market?

Student

Response

Value Correct

Answer

Feedback

A. Each seller

has to look

for possible

mergers.

B. Each seller

has to come

up with

innovations.

C. Each seller

has a fairly

large share

of the

market.

D. Each seller

has to double

its

marketing

strategy.

In a declining economy, how do businesses prefer to reduce their workforce?

Student

Response


A. Through

retirement

and natural

attrition

B. By hiring

temporary

and

contractual

employees

C. By giving

incentives

to workers

for them to

resign

D. By laying

off workers

and

rehiring

when they

need more

Recently, oil was discovered in an island in the Pacific. An oil refinery from Texas

wants to enter this foreign market without actually building their own facility on the

island. Which of the following is the BEST way for the oil refinery to enter this foreign

market?


A. Franchising

B. Turnkey projects

C. Exporting

D. Licensing

Jaime runs a plant that manufactures designer shoes. She has gained a comparative advantage over plants making similar products. Which of the following

statements is true?


A. Jaime was unable

to access the

same cheap raw

materials as her

competitors.

B. The competition

spent time on

training rather

than actual

production.

C. Jaime's workers

have improved

their production

rate compared to

their

competitors.

D. The competitors

have invested

too much in new

technology.

A country has an absolute advantage in oil production compared to its nearest neighbors. A neighboring country can produce oil in a given period

of time at half the cost. Which of the following statements is definitely false?


A. The country

exports much of

its oil to

neighboring

countries.

B. The country

produces oil

more effectively

than its

neighbors.

C. The country

should allocate

more resources

to oil

production.

D. The country

produces more

oil than its

neighbors.

Which of the following is an impact of globalization of production rather than an

impact of globalization of markets?

Student

Response


A. A soda company

tweaks its

recipes to

appeal to the

tastes of

consumers in

different

countries.

B. A Japan-based

car

manufacturing

company sells

to more than

20 different

countries

worldwide.

C. A British shoe

company

establishes a

factory in

Taiwan.

D. A

foreign-owned

company

advertises

its products

for sale in

the United

States to

attract

consumers.

Which of the following is a long-term effect of protectionist trade barriers?

Student

Response


A. There is a

decrease in

prices of

domestic

products as

consumer

consumption

rises.

B. There is an

increase in

demand for

imports and

a

subsequent

increase in

sales.

C. The local

market

becomes

more

accessible

to foreign

companies.

D. There is an

increase in

supply of

domestic

products

leading to

market

expansion.

Which of the following represents the biggest difference between partnership and sole

proprietorship?

Student

Response


A. The amount of

actual

production

costs

B. The number of

people

contributing

resources

C. The number of

consumers

buying the

product

D. The amount of

promotional

expenses

Rupert owns a small gift shop. In the first three years of the operation, he has

ordered $20,000 worth of assorted items, including stuffed toys, mugs,

wristwatches, and personal organizers. However, when a mall is built near Rupert's

shop, there is a significant drop in demand for his products. The supplier of Rupert's

products demands payment, but Rupert does not have the available funds. He is

forced to sell his assets and spend his savings to pay the debt. Which of the

following characteristics of a sole proprietorship is BEST reflected in this situation?


A. A sole

proprietor has

full control of

management and

operations.

B. A sole

proprietorship

is easy to set up

because no legal

paperwork is

required.

C. A sole

proprietor is

personally

responsible for

all the

liabilities of

the business.

D. The income and

expenses of a

sole

proprietorship

flow through the

owner's personal

tax return.

Jaden and Noel are starting a computer repair business together. Jaden insists on

outlining rules for the departure of partners in the partnership agreement, although

Noel does not think it is necessary. Which of the following statements might Jaden

use to explain his insistence to Noel?


A. Determining the

allocation of

profits to new,

"junior

partners" is

important to

eliminate future

potential

conflicts.

B. Responsibilities

must be clearly

delineated to

avoid the

possibility of

one partner

overstepping his

or her bounds.

C. Provisions to

remove a

partner's

ownership

interest are

necessary so the

business does not

have to liquidate

in the case that

one partner needs

to or wants to

leave.

D. As the

partnership

matures and ages,

stipulations as

to how profits

and losses will

be distributed

must be made.

If a sole proprietor's business assets aren't enough to pay a liability, which of the following may the proprietor have to

use to cover the balance?

Student

Response


A. Personal

assets

B. A partner's

assets

C. Employees'

pay

D. Shares of

stock

Magda and Helen share the ownership and the profits and losses of a interior design

company. Magda and Helen are operating a

Student

Response


A. partnership.

B. sole

proprietorship.

C. corporation.

D. cooperative.

The process of monitoring, comparing, and correcting is called ________.

Student

Response

Value Correct

Answer

Feedback

A. coordinating

B. controlling

C. leading

D. organizing

Which of the following is not one of the six sets of behaviors that, according to

research, is responsible for more than 50% of a manager's effectiveness?

Student

Response


A. organizing and

coordinating

B. motivating

employees and

handling

conflicts

C. strategic

problem

solving

D. making human

resource

decisions

A manager resolving conflict among organizational members is performing what

process?

Student

Response

Value Correct

Answer

Feedback

A. controlling

B. leading

C. directing

D. commanding

An automobile manufacturer that increased the total number of cars produced at

the same cost, but with many defects, would be ________.

Student

Response


A. efficient and

effective

B. increasing

efficiency

C. concerned

with inputs

D. increasing

effectiveness

Writing an organizational strategic plan is an example of the ________

management process.

Student

Response

Value Correct

Answer

Feedback

A. organizing

B. planning

C. leading

D. coordinating

According to Mintzberg's management roles, the ________ roles involve receiving, collecting, and

disseminating information.

Student

Response


A. decisional

B. informational

C. interpersonal

D. technical

Efficiency refers to ________.

Student

Response

Value Correct

Answer

Feedback

A. increasing

outputs

regardless

of cost

B. the additive

relationship

between

costs and

benefits

C. the

relationship

between

inputs and

outputs

D. the

exponential

nature of

costs and

outputs

An automobile manufacturer that increased the total number of cars produced at

the same cost, but with many defects, would be ________.

Student

Response


A. efficient and

effective

B. increasing

efficiency

C. concerned

with inputs

D. increasing

effectiveness

Managerial Basic Training (Scenario)

Imagine that your marketing company has just merged with a manufacturing

organization. You have been asked to help provide some "basic" managerial training

to the engineers in the research and development unit of the new sister company.

To make sure you are covering the necessary issues, your boss has asked to see an

overview of materials that you will be providing the engineers.

One of the first things the engineers need to learn is that ________ are the people

who direct the activities of others in an organization.


A. line workers

B. subordinates

C. managers

D. directors

Supervisor is another name for which of the following?

Student

Response

Value Correct

Answer

Feedback

A. first-line

manager

B. team

leader

C. top

manager

D. middle

manager

All of the following are managerial roles that are more important at the higher levels

of the organization except ________.

Student

Response


A. leader

B. figurehead

C. disseminator

D. negotiator

Which of the following best describes the concept that management is needed in all

types and sizes of organizations, no matter the country in which they're located?


A. the partiality

of management

B. the universality

of management

C. the cultures of

management

D. the segmentation

of management

Whereas ________ is concerned with the means of getting things done, ________

is concerned with the ends, or attainment of organizational goals.

Student

Response


A. effectiveness;

goal

attainment

B. efficiency;

effectiveness

C. goal

attainment;

efficiency

D. effectiveness;

efficiency

According to Katz, the four critical managerial skills can be classified as ________.

Student

Response

Value Correct

Answer

Feedback

A. technical,

political,

interpersonal,

and conceptual

B. technical,

interpersonal,

political, and

controlling

C. technical,

political,

conceptual,

and empirical

D. interpersonal,

political,

empirical, and

technical

________ was a French industrialist who identified the basic management functions

referred to as the "management process."

Student

Response


A. Herzberg

B. Weber

C. Taylor

D. Fayol

Expert systems enable employee and lower level managers to make high quality

decisions that previously could have been made only by ________.

Student

Response


A. technical

experts

B. consultants

C. management

experts

D. senior

managers

Managers can make rational decisions if ________.

Student

Response

Value Correct

Answer

Feedback

A. the problem

is ambiguous

B. the

alternatives

are limited

C. the goals are

unclear

D. time

constraints

exist

Which of the following is the most effective number of people to have in a group?

Student

Response

Value Correct

Answer

Feedback

A. 2-8

B. 5-7

C. 3-12

D. 3-7

Decision making is typically described as ________, which is a view that is too

simplistic.

Student

Response

Value Correct

Answer

Feedback

A. putting

preferences

on paper

B. choosing

among

alternatives

C. processing

information

to

completion

D. deciding

what is

correct

What is a difference between a policy and a rule?

Student

Response

Value Correct

Answer

Feedback

A. A rule is

more

ambiguous.

B. A rule

establishes

parameters.

C. A policy is

more

explicit.

D. A policy

establishes

parameters.

Recruitment is the process of ________.

Student

Response


A. measuring

the pressure

in the local

labor market

B. hiring

employees

from

competitors

C. hiring from

outside the

organization

D. locating,

identifying,

and

attracting

potential

employees

To help survivors of downsizing cope with their new stress, managers might want to

________.

Student

Response


A. provide

counselors for

employees to

talk to

B. individually

call employees

into the office

intermittently

with those

being

downsized

C. provide job

search

assistance

D. offer some form

of severance

pay

Behavioral interviews involve an interviewer deliberately leading applicants into a

false sense of security and then suddenly and drastically, becoming aggressive and

hostile.

Student Response Value Correct Answer

False 100% False

The final activities of the HRM process ________.

Student

Response


A. identify for the

organization

the best

compensation

packages for the

new hires

B. ensure that the

organization

retains

competent and

high-performing

employees

C. provide

employees with

up-to-date

knowledge and

skills

D. ensure that the

organization

selects and

trains

competent

employees

Job analysis is concerned with which of the following employment planning aspects?

Student

Response


A. estimating

pay on job

level in an

organization

B. hiring

someone to do

a job

C. deciding how

well someone

is

performing

his or her

job

D. what

behaviors

are

necessary to

perform a job

Managing in the dynamic, chaotic world of global competition, organizations must

create new products and services ________.


A. that offer the

customer what

they want

B. and adopt teams

as the best way to

improve the

organization

C. at competitive

prices and in the

correct location

D. and adopt

state-of-the-art

technology if

they are to

compete

successfully

Being a manager, with no environmental uncertainty or threat of competitors' new

products, would be relatively simple without ________.

Student

Response


A. government

regulations

B. diversity

C. organizational

change

D. cultural

differences

Which of the reasons for resistance to change expressed by an employee may be

beneficial to the organization?

Student

Response


A. uncertainty

B. refreezing

C. change is

incompatible

with the

interests of

the

organization

Which of the following is not a cultural variable that

supports innovation?

Student

Response

Value Correct

Answer

Feedback

A. high

external

controls

B. focus on

ends, not

means

C. tolerance

for the

impractical

D. acceptance

of

ambiguity

All of the following are mentioned in the textbook as actions that managers can use

to deal with resistance to change except ________.

Student

Response


A. facilitation

and support

B. participation

C. diversification

D. education and

communication

The city's police department has requisitioned money in this year's budget to

upgrade some of its equipment. Which of the following technologies could benefit

police officers because it frees them from risking dangerous tasks?


A. Cyberspace

storefronts

B. Remote

conferencing

C. Smartphones and

portable

printers

D. Robotic

assistance

Some believe that corporate investment in information technology has business

value because

Student

Response


A. studies have

shown that IT

investments

lead to

increased

employee

productivity.

B. companies

believe that

having the

best IT

equipment

creates a

positive

company

image.

C. data prove

that

companies

with the best

IT equipment

make the most

sales and

highest

profits.

D. employees are

more likely to

remain with a

company that

has high-tech

equipment.

It is important to always have the latest technological gadget or equipment for your

business.

Student Response Value Correct Answer

False 100% False

Score: 100.0%

General

Feedback

:

It is extremely expensive to acquire and maintain all of the latest

technologies. A chief information officer (CIO) needs to weigh the costs

of new gadgets and equipment against the potential benefits they pose

for the business.

The key reason that off-shoring is profitable for a U.S. business is the difference in

________ between offshore countries and the United States.

Student

Response


A. language

B. taxes

C. culture

D. wages

Samari needs to hire a chief information officer (CIO) to lead his company's growing

information technology (IT) department. Which of the following skill sets is MOST

important for Samari to look for when considering whom to hire as his new CIO?


A. Organizational

skills

B. Marketing skills

C. Advertising

skills

D. Intrapersonal

skills

Business Game2222

Documents

chief information officer

correct answer false

correct answer feedback

correct feedback answer

correct answer

automobile manufacturer

sole proprietorship

actual production