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Just check your answers against mine before submitting it, thank you. Business Essentials, Ebert and Griffin 8e
In the United States, milk is produced on thousands of farms, with no producer dominating the market. Producers sell milk at the going price and are unable to influence this price. Millions of gallons of milk are purchased every day. The market for milk is best described as
A) a monopoly
B) an oligopoly
C) perfect competition
D) monopolistic competition
Which of the following would be included in the gross domestic product of Brazil?
A) the profits earned by a U.S.-owned automobile plant in Brazil
B) the profits earned by a Brazilian coffee company operating in the United States
C the profits earned by a Brazilian coffee company operating in Peru
D none of the above
When evaluating a decision based on the ethical norm of rights, a manager will consider which of the following questions?
A Is the decision consistent with what we regard as fair?
B Does the decision respect the rights of the individuals involved?
C Is the decision consistent with people's responsibilities to each other?
D Does the decision optimize the benefits for those who are affected by it?
Today, about ___ of all businesses in the United States are sole proprietors.
A 94 percent
B 72 percent
C 28 percent
D 10 percent
American Business Machines is organized as a corporation. Its income will be taxed first at the corporate level and also on shareholder returns as dividends. This situation is known as ___.
A dual costs
B double taxation
C regulatory costs
D double ownership
The World Bank uses ___ to make distinctions among countries.
A population figures
B industrial capacity
C per capita income
D literacy levels
As the value of a country's currency falls, its balance of trade should ____.
C remain the same
D either increase or decrease
What is a difference between an international firm and a multinational firm?
A Multinational firms design, produce, and market products in many nations.
B Multinational firms are basically domestic companies with international operations.
C International firms design, produce, and market products in many nations.
D The main concern of international firms is their foreign markets.
Critics of protectionism may argue that the practice ____.
A reduces prices
B reduces competition
C creates friendships between nations
D creates price stability
Systems by which a firm produces goods and services are called _______.
A human resources
Which of the following are responsible for production and quality control?
A information managers
B human resource managers
C first-line managers
D operations managers
Amy Madison has been tracking product sales for McCoy Industries. She notices that sales of surgical supplies have fallen off in the past six months and she is considering strategies to reverse this trend. This is an example of the ________ management function.
______ managers work in a variety of areas, including human resources, operations, and marketing.
D All of the above
Specialized jobs can be learned and filled more easily and performed more efficiently than non-specialized jobs, however, jobs at lower levels of the organization are especially susceptible to
A becoming too narrowly defined and overspecialized causing boredom and carelessness.
B causing employees to derive less satisfaction from their jobs.
C causing employees to lose sight of their roles in the organization.
D all of the above.
Which statement about departmentalization is NOT true?
A Managers departmentalize jobs randomly.
B Managers departmentalize jobs logically.
C Control and coordination are narrowed and made easier.
D Top managers can see more easily how various units are performing.
Which statements about organizational structure is true?
A As a company gets larger, it tends to adopt a decentralized structure.
B As a company gets larger, it tends to adopt a centralized structure.
C The purpose of centralization is to make a company more responsive to a changing, complex environment.
D In a centralized organization, most decision-making authority is held by lower-level managers.
At XYZ Enterprises, cloth is cut in the front room of the facility. The cut cloth then moves to the sewing department in the back room. What type of layout is utilized?
When Ford assembles parts into a Ford Explorer, it creates ______ utility.
The driving force behind all business activity is ______.
B methods planning
Which of the following is NOT considered a part of total quality management?
A Planning for quality
B Advertising for quality
C Organizing for quality
D Directing for quality
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