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

Student Response 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.

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

Student Response A. Tax reduction B. Greater profit C. Tax exemption D. More investment

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

Student Response A. Competition antagonizes customers. B. Competition favors the government. C. Competition deters investment. D. Competition benefits consumers.

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Theresa is leasing a small shop at a mall near her home. Her shop sells homemade perfu is internationally recognized for some unique innovations in its products. Although the Student Response Value 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?

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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.

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The Nook is the only bookstore in George's neighborhood. Which market structure is this an example of?

Student Response A. Communism B. Oligopoly C. Socialism D. Monopoly

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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?

Student Response Value A. The value of sportswear

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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.

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

Student Response 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.

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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

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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?

Student Response Value A. Franchising B. Turnkey projects C. Exporting D. Licensing

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Jaime runs a plant that manufactures designer shoes. She has gained a comparative advantag statements is true? Student Response Value 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 Correct Answer Feedback

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 neighbor of time at half the cost. Which of the following statements is definitely false? Student Response Value 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?

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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.

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

Student Response A. There is a

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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 Value Correct Answer Feedback

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?

Student Response Value 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

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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?

Student Response Value 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

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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 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

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Student Response A. partnership. B. sole proprietorship.

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C. corporation. D. cooperative.
The process of monitoring, comparing, and correcting is called ________.

Student Response A. coordinating B. controlling C. leading D. organizing

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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

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A manager resolving conflict among organizational members is performing what process?

Student Response A. controlling B. leading C. directing D. commanding

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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

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Writing an organizational strategic plan is an example of the ________ management process.

Student Response A. organizing B. planning C. leading D. coordinating

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

disseminating information. Student Response A. decisional B. informational C. interpersonal D. technical

Efficiency refers to ________.

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Student Response 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

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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

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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.

Student Response Value A. line workers B. subordinates C. managers D. directors

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Supervisor is another name for which of the following?

Student Response A. first-line manager

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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

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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?

Student Response Value A. the partiality of management B. the universality of management C. the cultures of management D. the segmentation of management

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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

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

Student Response A. technical, political, interpersonal, and conceptual B. technical, interpersonal, political, and controlling C. technical, political, conceptual, and empirical D. interpersonal, political, empirical, and technical

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________ 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

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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

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Managers can make rational decisions if ________.

Student Response A. the problem is ambiguous B. the alternatives are limited C. the goals are unclear D. time constraints

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

Student Value Correct Response Answer A. 2-8 B. 5-7 C. 3-12 D. 3-7

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

Student Response A. putting preferences on paper B. choosing among alternatives C. processing information to completion D. deciding what is correct

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What is a difference between a policy and a rule?

Student Response A. A rule is

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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

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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

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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 False

The final activities of the HRM process ________.

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Student Response A. identify for the organization the best compensation packages for the new hires

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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

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are necessary to perform a job

Managing in the dynamic, chaotic world of global competition, organizations must create new products and services ________.

Student Response Value 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

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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

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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

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Which of the following is supports innovation? Student Response A. high external controls B. focus on ends, not means C. tolerance for the impractical D. acceptance of ambiguity

not a cultural variable that

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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

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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?

Student Response Value A. Cyberspace storefronts B. Remote conferencing C. Smartphones and portable printers D. Robotic assistance

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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

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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 False Score:

General :

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It is extremely expensive to acquire and maintain all of the latest of new gadgets and equipment against the potential benefits they pose for the business.

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

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

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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?

Student Response Value A. Organizational skills B. Marketing skills C. Advertising skills D. Intrapersonal skills

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