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BAM 105 -The price at which the quantity of goods demanded and the quantity of goods supplied are..




Question;1. The price at which the quantity of goods demanded and the quantity of goods supplied areequal is referred to as price.a. the equilibriumb. consumer equalityc. the deal-makerd. the fixed point2. A (n) occurs when the quantity supplied exceeds the quantity demanded.a. overageb. shortagec. demand deficitd. surplus3. ?Buyers will purchase more of a product as its price drops and less of a product as its priceincreases.? The situation being described is referred to as.a. the law of supplyb. purchase dissonancec. the law of demandd. buyer? s remorse4. Which of the following is NOT one of the elements required in private enterprise?a. freedom of choiceb. private property rightsc. stability of cash flowd. profits5. U.S. agriculture is a good example of.a. perfect competitionb. monopolistic competitionc. a monopolyd. an oligopoly6. Which of the following best defines the term aggregate output?a. the total quantity and quality of goods and services that country? s citizens can purchasewith the currency used in their economic systemb. the pattern of short-term ups and downs in an economyc. the total quantity of goods and services produced by an economic system during agiven periodd. the conditions of the economic system in which an organization operates7. refers to ethical or unethical behaviors by employees in the context of their jobs.a. Social ethicsb. Collusionc. Business ethicsd. Social responsibility8. An employee who discovers and tries to put an end to a company? s unethical, illegal or sociallyirresponsible actions by publicizing the m is called.a. an investorb. an outside contractorc. a whistle-blowerd. top management9. The ethical norm of considers if the decision is fair.a. utilityb. justicec. rightsd. caring10. Which of the following groups is NOT considered an organizational stakeholder?a. investorsb.competitorsc. employeesd. customers11. According to analysts, who must take chief responsibility for educating employees aboutethics?a. parentsb. religious organizationsc. employersd. business school12. The current whistle-blower law stems from which of the following pieces of legislation?a. The False Claims Act of1863b. The Clayton Act of 1914c. The Sherman Act of 1890d. The Webb-Pomerene Act of 191813. A locally owned and operated restaurant is typically a(n).a. small businessb. monopolyc. corporationd. oligopoly14. is the process of seeking business opportunities under conditions of risk.a. Wholesalingb. Entrepreneurshipc. Goal settingd. Leverage15. A major drawback of sole proprietorships is.a. limited liabilityb. low startup costsc.unlimited liabilityd. flexibility16. Both sole proprietorship and partnerships lack.a. profitsb. trustc. clarificationd. continuity17. A(n) is organized to operate like a corporation but is taxed like a partnership.a. S-corporationb. professional corporationc. public corporationd. private corporation18. Kent Kauffman and Patrick McCormick have decided to start a landscaping business. One ofthe first things that they do is sign the, which describes the investments andresponsibilities of the partners and makes provisions for the allocations of profits anddissolution of the business.a. articles of incorporationb. corporate charterc. partnership charterd. partnership agreement19. A company sending some of its own managers overseas to conduct business in a local office ispracticing the international organization strategy of.a. branch officesb. joint venture arrangementsc. strategic alliancesd. direct investment20. A subsidy is a.a. taxb. global competitorc. productd. payment21. Under, Canada, the United States and Mexico will gradually eliminate tariffs and allother trade barriers.a. NAFTAb. the Pan-American Agreementc. the EURO Agreementd. CMA22. Which of the following exists when a country can produce something more cheaply and/or ofhigher quality than any other country can?a. national competitive advantageb. balance of paymentsc. absolute advantaged. comparative advantage23. Which global arrangement most closely represents a partnership?a. exportingb. enterprise resource planning (ERP)c. licensing arrangementd. strategic alliance24. The Oil Producing and Exporting Countries (OPEC) is an example of a.a. subsidyb. foreign direct investmentc. carteld. quota25. Which of the following refers to a person? s ability to think in the abstract, to diagnose andanalyze different situations and to see beyond the present situation?a. production skillsb. human relations skillsc. decision-making skillsd. conceptual skills26. The purpose of strategy is to determine what business or businesses a company willown and operate.a. functionalb. corporatec. businessd. mission27. Corporate culture.a. is difficult to changeb. can direct employees? efforts towardgoalsc. is usually determined by outside forcesd. very seldom changes28. T itles such as plant manager, operations manager and division manager designate which ofthe following levels of management?a. first-line managersb. supervisorsc. top managersd. middle managers29. Which of the following managers depend most on conceptual skills?a. top managersb. first-line managersc. marketing managersd. middle managers30. CFO and controller are titles associated with managers.a. informationb. human resourcec. marketingd. financial31. When each department targets a specific customer category, departmentalization occurs alonglines.a. functionalb. customerc. processd. product32. Decentralization is typical in companies that.a. are smaller in sizeb. focus tightly on maintaining standardizationc. face stable, predictable environmentsd. face complex and dynamic environments33. All of the following are advantages of job specialization EXCEPT specialized jobs.a. can be learned more quicklyb. are more interestingc. can be performed more efficientlyd. can be filled more quickly34. Which of the following is NOT one of the four basic forms of organizational structurementioned in the text?a. matrixb. divisionalc. functionald.production35. American Wood Products has three divisions. The Lumberjack division is involved inharvesting trees and transporting them to lumber mills. The Milling division transforms cuttimber into dimensional lumber for building. The Paper Products division makes papers andcardboard from the remnants of the milling process. This is an example of.a. functional departmentalizationb. process departmentalizationc. customer departmentalizationd. geographic departmentalization36. According to the text, Martha Stewart Living Omni media u s e s a(n) structure tomanage its lifestyle business.a. operationalb. departmentalc. divisionald matrix37. refers to the sameness of product quality from unit to unit.a. Performanceb. Quality controlc. Reliabilityd. Consistency38. includes all activities involved in getting quality products into the marketplace.a. T otal quality managementb. Quality reliabilityc. Performance qualityd. Quality control39. is the evaluation of all work activities, materials flows and paperwork todetermine the value that they add for customers.a. Quality managementb.Value-added analysisc. Groupwared. Benchmarking40. Operations produce standardized products for mass consumption.a. Make-to -orderb.Make-to-stockc. Low-contactd. High-contact41. A is an activity that is performed regularly when conducting business.a. techniqueb. processc. requestd. function42. When Ford assembles parts into a Ford Explorer, it creates utility.a. timeb. placec. formd. possession43. A good person-job fit is a situation in which.a. the employee? s contributions slightly exceed the company? s inducementsb. the employee? s contributions and the company? s inducementsbalancec. the company? s inducements slightly exceed the employee? s contributionsd. the person hired for the job is qualified for it44. When two people work part-time to share a single full-time job, it is referred to as.a. MBOb. flextimec. job sharing45. reflects a person? s comfort level with relationships.a. opennessb. extraversionc. conscientiousnessd. agreeableness46. According to Herzberg, recognition fo r a job well done is a.a. scientific factorb motivation factorc. hygiene factord. dissatisfier47. When a company pays rewards for desired behaviors in employees, it is using.a. piecemealb. equity theoryc.positive reinforcementd. punishment48. In equity theory, the social comparison made by an employee relative to the treatment by theorganization to others is similar to.a the psychological contractb. job sharingc. the Hawthorne effectd. expectancy theory49. According to Kotter, when creating an agenda, managers focus on.a. organizing and staffingb. controlling and problem solvingc. planning and budgetingd. establishing direction50. T ransactional leadership is essentially the same as.a. controllingb. planningc.managementd. organizing51. T o be an effective strategic leader, a manager needs to have an understanding of theorganization? s.a. strengths and weaknessesb. culturec. historyd. All of the above.52. Managers at Adidas had a ?hunch? that their sponsorship deal with the Yankees would be agood one. Their feelings were based on.a. escalation of commitmentb. risk propensityc. intuitiond. perception53. The approach to leadership assumes that appropriate leader behavior varies fromone situation to another.a. motivationb. traitc. charismaticd. situational54. Males tend to be more than females in making decisions.a. democraticb. charismaticc. autocraticd. free-rein55. Which of the following types of compensation are paid for time worked?a. wagesb. salaryc. benefitsd. gain sharing56. Insurance for compensating workers injured on the job is called.a. a cafeteria planb. a profit-sharing planc. disability insuranced. workers? compensationinsurance57. represent attempts to recruit, hire and develop members of relevant protectedclasses.a. Comparable worth programsb. ?Glass ceiling? programsc. Benefit plansd.Affirmative action plans58. A allows wage rates to be renegotiated during the life of a labor contract.a. wage reopener clauseb. bargaining unitc. cost-of-living adjustmentd. strike59. Cindy has identified the credentials, skills and abilities necessary for a database administratorin her organization. She will record this information in a(n).a. advertising budgetb. staffing surveyc. employee analysisd. job specification60. Bill is able to quit his job at the pickle factory at anytime and without notice under the legalconcept of.a. mutual consentb. quid pro quoc employment-at-willd. joint agreement61. Groups of people with similar wants and needs are.a. price pointsb. distribution pointsc. target marketsd. target points62. are the qualities, tangible and intangible, that a company builds into its products.a. Featuresb. Safety devicesc. Requirementsd. Benefits63. A promotional tactic for brand exposure in which characters in television, film, music,magazines or video games use a real product with a brand visible to viewers is called.a. brandingb. loyaltyc. brand awarenessd product placement64. Selling the rights to place a brand name on products such as t-shirts is referred to asbrands.a. internationalb. nationalc. licensedd. private65. The satellite dish and home television shopping provide examples of changes to which of thefollowing external environmental factors that affect marketing?a. politicalb. legalc. economicd technological66. Providing volunteer participants with new products to try and then asking them to share theinformation with their friends, family, co-workers and others in their social network is calledmarketing.a. buzzb. viralc. shared. placement67. Once called ?middlemen,? they are now known in marketing circles as.a. the marketing networkb. distributorsc intermediariesd. circulation managers68. Companies that price their product low enough to attract a large number of buyers are likelypursuing a goal of.a. market stabilityb. maximization of profitsc. high market shared. price stability69. The amount added to a product? s cost to meet profit targets is usually expressed as apercentage of.a. total costsb. sales pricec. wholesale priced. selling costs70. The value of agents and brokers lies in their knowledge of markets and their merchandisingexpertise. Which of the following do they also do?a. remove open, torn or dirty packages, arrange products neatly and generally keep goodsattractively displayed for retail stores.b. provide shelf and display merchandising and advertising layout for retail storesc. show sale items to potential buyersd. All of the above.71. Which of the following is the first stage in the buyer decision process?a. Buyers decide on specific products.b Buyers recognize the need to make apurchasec. Buyers want to learn more about available products.d. Buyers evaluate products after purchase.72. Pricing above the market plays on the common assumption that.a. although consumer will not admit it, they like to pay higher pricesb. higher price means higher qualityc. a desperate business in danger of failing must get the most for each item it sellsd. higher prices are much more popular now73. allow outsiders limited access to a firm? s internal information systems.a. Firewallsb. Extranetsc. Directoriesd. Intranets74. A(n) is a system for transmitting and transforming data into information that can beused in decision-making.a. transformation systemb. information systemc. computerd. management system75. The application of electronic technologies for searching, sifting and reorganizing pools of datato uncover useful information is referred to as data.a warehousingb. miningc. accessd. tapping76. Computers are connected by numerous applications utilizing different communicationsprotocols. Which of these is NOT an Internet protocol?a. hypertext transfer protocol (HTTP)b. simple message transfer protocol (SMTP)c. document processing protocol (DPP)d. post office protocol (POP)77. is capable of gathering e -mail addresses, credit card numbers and passwords.a. Spywareb. Spamc. A firewalld. Groupware78. Which statement is true regarding firewalls?a. They keep companies safe from hackers.b. They serve as a ?traffic switch,? telling a message where to go.c. They are located within individual monitors.d. They do none of the above.79. offer accounting services to the public and are licensed at the state level.a. Controllersb. Certified Public Accountantsc. Certified Management Accountantsd. Bookkeepers80. are costs, other than the cost of goods sold, incurred in producing a good or service.a. Depreciationb Operating expensesc. Inventory expensesd. Operating incomes81. A ratio measures a firm? s potential earnings.a. financialb. solvencyc profitabilityd. managerial82. Cash transactions involved in buying and selling goods and services would be classified ascash flows from on the statement of cash flows.a. investingb operationsc. planningd. budgeting83. Which of the following is the most commonly used liquidity ratio?a. return on equityb. quick ratioc. return on salesd. current ratio84. is the ability of a firm to finance an investment through borrowed funds.a. Leverageb. Profitabilityc. Liquidityd. Solvency85. At, deposits are only accepted from members who meet specific qualifications,usually working for a specific employer.a. mutual savings banksb. commercial banksc. savings and loan associationsd. credit unions86. The is a United Nations agency consisting of about 150 nations that have combinedresources to promote stable exchange rates, provide temporary short-term loans and serveother purposes.a International MonetaryFundb. European Unionc. Federal Reserved. World Bank87. Which of the following is NOT a function of money?a. statussymbolb. store of valuec. medium of exchanged. measure of worth88. Which of the following is NOT part of the M-2 money supply?a. M-1b. governmentbondsc. time depositsd. money market mutual funds89. How many Federal Reserve Banks are there currently in the United States?a. 15b. 6c. 10d. 1290. T -notes are treasury securities that mature to face value within.a. 30 yearsb. a few weeks to a yearc. 2 and 10 yearsd. None of the above.91. Blink credit card technology is familiar in what form?a. buying discount bonds that do not pay interest periodically but are sold at a discountand pay out the face value on maturityb. using a computer to make automatic paymentsc. familiar to any form that uses a magnetic strip or swipe methodd. toll roads with electronic passes that allow drivers to avoid waiting in line to pay92. is often used for economic planning by businesses and government agencies.a. M-2b. M-1c. Currencyd. A demand deposit93. A stock? s can be calculated by dividing total shareholders? equity by the totalnumber of shares of stock issued.a. book valueb. market valuec. par valued. All of the above.94. New stocks and bonds are sold in the market.a. primaryb. tertiaryc. private placementd. secondary95. A (n) is an organization of individuals coordinat ed to provide an institutional settingin which stock can be bought and sold.a. stock exchangeb. brokeragec. over-the-counter marketd. server96. Investors will opt for no-risk U.S. T reasury Bills or intermediate-term, high-gradecorporate bonds that rate low in terms of risk on future investments.a. Professionalb. Aggressivec. Amateurd. Conservative97. A is a formal pledge (an IOU) obligating the issuer to pay interest periodically andrepay the principal at maturity (a preset future date) to the lender.a. mutual fundb. bond indenturec. commercial bank loand. corporate bond98. A company is ripe for raiding when.a. insider trading has taken placeb. private owners lose some control of the company when shares are sold to the publicc. its stock prices are at an all time highd. its stock price falls so shares can be cheaply bought99. A is a division of stock that gives stockholders a greater number of shares but doesnot change each individual? s proportionate share of ownership.a. stock splitb. stock warrantc. stock dividendd. stock yield100. ?I am a chemist with the nation? s largest chemical company. We have secretly developed acure for three of the world? s most serious epidemics. Before this news breaks out, I?m goingto buy as many shares of stock in my company as I can get my hands on. Then I?ll sit backand watch the stock price head for the sky.? The person making this statement is about toengage in.a. insider tradingb. blue-sky tradingc. selling shares of stockd. open-market operations


Paper#51834 | Written in 18-Jul-2015

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