business multiple choice.docx

1- According to \_\_\_, under pure capitalism, the market serves as a self-correcting mechanism. Answer: smith Point: 0.5 2- Which of the following would NOT be a determinant of demand Answer: the prices of the inputs used to produce the good Point: 0.5 3- Flour is Answer: Both b and c are...

1- According to \_\_\_, under pure capitalism, the market serves as a self-correcting mechanism. Answer: smith Point: 0.5 2- Which of the following would NOT be a determinant of demand Answer: the prices of the inputs used to produce the good Point: 0.5 3- Flour is Answer: Both b and c are correct Point: 0.5 5- Most stock issued by corporations is \_\_\_. Answer: common stock Point: 0.5 6- Jorge is a department head, while Christina is an office manager. Both of them supervise operating employees. Jorge and Christina are considered \_\_\_ managers. Answer: first-line Point: 0.5 Point: 7- Which of the following structures may work best in a time of crisis when an organization must stay focused on immediate goals? Answer: centralized organization structure Point: 0.5 Point: 0.00 8- \_\_\_ is a process of examining an organization's current marketing situation, assessing opportunities and setting objectives, then developing a marketing strategy to reach those objectives. Answer: Strategic marketing planning Point: 0.5 Point: 0.00 9- Jason is a pitcher on his college's baseball team. He and the other players on the team regularly share information about athletic shoes and other sports gear. Jason is a member of a \_\_\_. Answer: reference group Point: 0.5 Point: 0.00 10- The \_\_\_ serves as the framework for the entire accounting process. Answer: accounting equation Point: 0.5 Point: Not Checked 12- Real GDP is the production of final goods and services valued at Answer: Market prices Point: 0.5 4- To ensure that U.S. farmers can compete favorably in the global marketplace, the United States gives its farmers \$19 billion every year. These payments are commonly referred to as \_\_\_. Answer: subsidies Point: 0.5 13- The biggest drawback of a sole proprietorship is a concept known as \_\_\_. Answer: limited liability Point: 0.5 Point: Not Checked 14- Time Warner organizes itself around four distinct units in its publishing division: magazines, textbooks, trade books, and the Internet. What type of divisional structure does Time Warner use? Answer: Product Divisional Structure. Point: 0.5 15- \_\_\_ is the division of a diverse market into smaller, relatively homogenous groups with similar needs, wants, and purchase behaviors. Answer: Market segmentation. Point: 0.5 16- Jessica stopped at the grocery store to pick up milk, bread, and toothpaste. What types of products did Jessica buy? Answer: convenience products Point: 0.5 17- Financial information is important to businesses for all of the following reasons except: Answer: It helps governments levy appropriate taxes on businesses Point: 0.0 11- Which of the following would NOT be a determinant of demand Answer: the prices of the inputs used to produce the good Point: 0.5 18- The rate at which the money of one country is traded for the money of another is known as the Answer: exchange rate 19- \_\_\_\_\_\_ businesses produce tangible goods by engaging in activities such as manufacturing, construction, mining, and agriculture. ‏Answer: Goods-producing ‏Point: 0.5 20- Mark receives a distribution from one of the stocks he holds in his portfolio. These payments are called \_\_\_. ‏Answer: dividends ‏Point: 0.5 21- Don establishes the structure for the organization as a whole, and he selects the people who can fill upper-level positions. Don is probably a \_\_\_ manager. ‏Answer: top ‏Point: 0.5 22- The government of a small country allows the \"invisible hand\" of competition to guide production and resource allocation decisions. What type of economic system exists in this country? Answer: capitalism Point: 0.5 23- Question N3 Suppose you make jewelry. If the price of gold falls, we would expect you to Answer: be willing and able to produce more jewelry than before at each possible price. Point: 0.5 24- Which of the following statements about GDP is most accurate? Answer: Nominal GDP values production at current prices, while real GDP values production at constant prices. Point: 0.5 25- \_\_\_ are politically motivated embargoes that revoke a country's normal trade relations status. Answer: Sanctions Point: 0.5 26- During an IPO, Brandon purchased stock on the open market. Brandon bought stock in a \_\_\_ corporation. Answer: public Point: 0.5 27- Dell emphasizes making money through process innovations such as e-commerce and customized product manufacturing, rather than by investing heavily in basic research, as some other companies do. This is Dell's \_\_\_. Answer: Efficiency plan Point: 0.5 28- The Kingston Tourist Board has a website designed to attract tourists and business investments. Information on the website furnishes a detailed description of the town's natural and cultural attractions along with its attractive business climate. This is an example of \_\_\_ marketing. Answer: place Point: 0.5 29- The \_\_\_ stage is marked by a rapid jump in sales and, usually, an increase in the number of competitors and distribution outlets. Answer: growth Point: 0.5 30- Bertold is preparing a(n) \_\_\_ that shows his company\'s profit performance over the past year. Answer: **income statement** Point: 0.5