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- 1. Multiple ChoiceA basic principle of procedural due process involves _________ before taking action.awarding damagesobtaining witnessesproviding noticecreating evidence
- 2. Multiple ChoiceWhich of the following statements is true regarding joint ventures?Large corporations are the only business structures that can benefit from joint ventures.Joint ventures are used only when it is necessary to raise a lot of capital.Joint venture arrangements are usually short-term relationships.An independent attorney must always be consulted before signing a joint venture agreement.
- 3. Multiple ChoiceProviding marketing information is an important channel activity. Businesses rely on marketing information to determine...their target markets' needs and wants.how intermediaries are performing.how much to charge for their products.what to name their products.
- 4. Multiple ChoiceWhich of the following is a benefit of channels of distribution?Producers must spend more money.We can more easily obtain products from all over the world.Retailers must spend more money.We spend more time looking for products we want.
- 5. Multiple ChoiceA manufacturer that has 65% of the market share is pressuring its wholesalers to sign an agreement stating that they will not sell competing products. In this situation, the agreement is illegal because it...controls resale prices.prohibits monopolies.violates antitrust laws.limits producers' rights.
- 6. Multiple ChoiceA producer can minimize channel conflict among its distributors and retailers by...offering different products through each channel.selling its items directly to the end users.establishing slotting fees for certain channels.requesting that the channel members carry only its brand.
- 7. Multiple ChoiceWhich of the following is a leading question?Mia is a great manager, isn't she?How was your weekend?What did you discuss in the meeting?What are you having for lunch?
- 8. Multiple ChoiceDuring a brainstorming session, should participants be allowed to add new ideas to the list that are based on another group member's idea?Yes, because ideas that are too outrageous should be immediately modifiedNo, because using someone else's idea is considered stealingNo, because it can be interpreted as a poor evaluation of the ideaYes, because other participants' ideas can trigger new ideas
- 9. Multiple ChoiceWhen businesses need to formalize the information provided to employees, customers, or other businesses, they often use __________ communication.writtenlateralupwardverbal
- 10. Multiple ChoiceWhat is one reason why businesses write informational messages?To analyze sales proposalsTo develop research reportsTo explain new policiesTo obtain positive feedback
- 11. Multiple ChoiceBecause Caroline does not have enough time to read an entire 400-page business report, what section of the report should she review to obtain an overview of the most important content?AppendiciesTable of contentsExecutive SummaryConclusion
- 12. Multiple ChoiceWhich of the following is a type of simple written report that usually is distributed to employees within a business:NewsletterProposalHandbookMemorandum
- 13. Multiple ChoiceWhen taking notes during a seminar, a businessperson should write downAll detailsInformation of interestInaccurate statementsKey points
- 14. Multiple ChoiceA customer has purchased an item from you and is now faced with carrying six packages. You can use a practical idea to create positive customer relations bywishing the customer luck in carrying all the packagesthanking the customer for making so many purchasesoffering to place all the packages in one large bag.complimenting the customer for getting a lot accomplished.
- 15. Multiple ChoiceWhich of the following is an example of an employee using nonverbal communication effectively to reinforce his/her service orientation:When Mrs. Jones complained that her steak was not cooked the way she wanted it, Leah rolled her eyes.Molly nodded and maintained eye contact as Ms. West explained the problem with her computer.Tristan answered his office telephone and said, “Blanton Industries. How can I help you?”Paul crossed his arms and tapped his foot impatiently as Mr. Cook asked about a charge on his bank statement.
- 16. Multiple ChoiceA grocery store keeps track of customers' purchases through their loyalty cards. This is an example ofdata encryption.illegal data collection.data security.big data.
- 17. Multiple ChoiceWhen a manufacturer asks a business to collect information from customers concerning how to improve a product, which type of utility is most likely to be affected?PossessionPlaceTimeForm
- 18. Multiple ChoiceIn a market economic system, who owns most of the means of production of goods and services?EntrepreneursPolitical partiesBusinesses and individualsGovernment
- 19. Multiple ChoiceResearch and development speed up production byproviding employees with adequate job training.simplifying existing products.limiting inflation.reviewing company goals with employees.
- 20. Multiple ChoiceIf total cost is $3,000 with zero quantity produced and $6,500 with 1,000 items produced, what is the marginal cost of producing each item?$3.50$3.00$6.50$1.00
- 21. Multiple ChoiceAccording to the Keynesian theory of unemployment, the best solution for unemployment is tokeep prices the same.cut wages.increase demand.increase inflation.
- 22. Multiple ChoiceWhich of the following is considered an external cause of business cycles:Climatic changesAggregate demandMoney supplyInventory levels
- 23. Multiple ChoiceLevels of inflation and unemployment are factors that affect __________ in the world market.communicationspecializationsatisfactioncompetition
- 24. Multiple ChoiceA nation's currency exchange rate is likely to increase whenthe labor force shrinks.consumer confidence is high.an economic contraction occurs.stock values fluctuate.
- 25. Multiple ChoiceWhat type of law focuses on issues regarding the promises that businesses make with their customers, vendors, and other business partners?PatentConstitutionalProbateContract
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