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Intro to BUSN
Test 1-4
| Question | Answer |
|---|---|
| The _____ is an organization of 188 member nations that promotes global economic cooperation and stable growth. | International Monetary Fund |
| Which of the following statements is true of foreign outsourcing? | It drives down the cost of production. |
| The total value of the goods exported by Maulini, a South American country, in the last fiscal year was lower in comparison to the total value of the goods imported by it. Given this information, Maulini had a _____ in the last fiscal year. | trade deficit |
| Onyi Muro, a boutique restaurant, has dining tables with interactive screens on them. The customers can place their orders, watch their food being prepared, and provide feedback to the chefs using these screens. | The technological environment |
| Quinbeck Inc., a computer manufacturing company, annually donates 6% of its total profits to an orphanage. The company also provides free personal computers to children to promote learning among them. | Corporate philanthropy |
| Menoth, a recreational resort for the elderly, saw a sharp increase in its customers in the last decade compared to the period between 1996 and 2006. This was because 65% of working individuals retired in the last decade. | Aging Population |
| In the context of the global environment of business, the migration of jobs from the United States relates closely to the global movement toward _____, which is an international economic and political movement designed to help goods and services flow more | Free trade |
| Niconti Inc. sells premium quality tea leaves. The company owns 400 acres of land on which it has established a large tea plantation with a tea processing factory. In this scenario, the land owned by Niconti Inc. can be classified as _____. | Natural Resources |
| However, when Hestonia faced an economic downturn and its citizens began to reduce their expenditures, Merticao began to focus more on its domestic market. As a result, Merticao was able to survive the loss of its primary market because of _in global tra | Reduce Risk |
| Verti, a North American country, engages in business with Jerg, a South American country. Verti imports agricultural products from Jerg, whereas Jerg outsources its technological operations to workers in Verti. The two nations are able to carry out these | Free Trade |
| Rochester, an Asian country, follows an economic system that facilitates private ownership. The country's economy is based on economic freedom and fair competition. Given this information, the economic system followed by Rochester is | Capitalism |
| The government of Lebitz, a European country, learns that low-priced textile imports from Pruneia, an Asian country, are affecting the sales of domestic textile companies. The Lebitzian government decides to levy a 6% tax on all textile goods imported fro | A tariff |
| Research from the Ethics Resource Center (ERC) showed that companies behave differently during economic difficulties. When employees perceive the decisions and behaviors of their leaders as a heightened commitment to ethics, they are most likely to: | adopt a higher standard of conduct for themselves. |
| In the context of the code of ethics of a company, which of the following is a step that is virtually always included when experts advocate a forceful, integrated approach to ethics? | Communicate about the importance of ethics. |
| In the context of fiscal policy, which of the following actions by the government helps boost the economy in the long term? | Invest in public assets, such as a national renewable energy grid. |
| To bring a code of ethics to life, experts advocate a forceful, integrated approach to ethics. According to this, _____. | Integrating ethics into mandatory staff training |
| In the context of monetary policy, which of the following is a result of an increase in the reserve requirement? | Interest rates begin to rise. |
| Western Transit Bank has 150 automated teller machines (ATMs) across the country. Customers can use these machines to withdraw money, deposit money in their bank accounts, check their account balance, and transfer money to other accounts. These machines e | Capital |
| In the context of business ethics, _____ involves clear misconduct, unlike an ethical dilemma that involves a conflict of values. | An Ethical lapse |
| In the context of the history of American business, during the entrepreneurship era, _____. | Large-scale entrepreneurs emerged in the second half of the 1800s, building business empires |
| Which of the following statements is true about socialist economy? | Tax revenues fund services that citizens in free enterprise systems would have to pay for themselves. |
| Ronnie works on a part-time basis for a company that provides home repair and maintenance services. Ronnie is specialized in handling the central heating systems in homes and is therefore needed to be at work only during the winter. He is mostly unemploye | Seasonal Employee |
| Troboli is a North American country. The total value of all final goods and services produced in Troboli in the last fiscal year was 3.3% more than the year before that. This growth placed Troboli in a better position than most of its allies. In this scen | Gross Domestic Product |
| Trexlex, a sports retailer, employs Olympic hopefuls in its stores through the Olympic Job Opportunities Program. It offers athletes full-time pay and benefits for a flexible 20-hour workweek to accommodate their training schedules. In the context of a bu | Corporate Responsibility |
| Buba Joe's Pizzeria, a fast food chain, wants to expand its customer base. It introduced a new range of vegan pizzas to cater specifically to the vegan market. It also introduced new flavors to cater especially to Hispanic Americans. In this context, whic | The social Environment |
| In the context of the barriers to international trade, which of the following is the best way to jump over sociocultural barriers? | Conducting thorough customer research |
| In the context of the fundamental principles of a free market system, the _____ is associated with the point at which the quantity demanded of a product equals the quantity supplied. | Equilibrium Price |
| Pyoiunalek's, a restaurant chain, markets and endorses its businesses in other countries by offering buyers the rights to launch and operate the restaurant in that country. It lends financial and marketing assistance to the buyers. In this scenario, Pyoiu | Foreign Franchising |
| Which of the following statements is true of productivity? | For companies, higher productivity can lead to lower costs. |
| Touca Ness, a fantasy movie franchise, was initially created for children in the early 1960s. However, as the franchise started to gain a cult following, the content of the franchise began to include mature themes to maintain popularity among its existing | Aging Population |
| Crumbie, a cereal company, not only provides nutritional information on the packaging box of its product but also goes a step ahead by providing a pamphlet that gives a detailed description of the production process. Given this information, it can be dedu | Consumerism |
| Yanmei, an employee at a news agency, learns that the reason her colleague was asked not to pursue a news story further was because the editor of the newspaper was bribed by the concerned party to suppress the matter. Yanmei reveals this information to th | Whistleblower |
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