Policies and activities of a business

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(TCO 1) People who stand to gain or lose by the policies and activities of a business and whose concerns the business needs to address include which of the following? (Points : 5)       Bankers       Government employees       Surrounding/competing businesses       Foreign business leaders       Domestic business leadersQuestion 3.3. (TCO 1) As a pharmacist in your community, you are concerned with the level of service provided to those in need at odd hours and after hours and in the neighborhoods where such extended service is needed. Your concerns are centered on which of the following? (Points : 5)       Making products and counseling available when consumers need them       Changing the buying behaviors of consumers       Understanding the risks of some of the products offered for sale       Doing whatever is necessary to provide credit through debit cards and credit cards       Providing open and free-flowing communication to the consumersQuestion 4.4. (TCO 3) Which of the following is true about a small business? (Points : 5)       A small business is one that employs between 500 to 1000 employees.       A small business is usually funded by personal lines of credit and not through bank loans and microlenders.       A small business is one that is not dominant in its field.       A small firm usually curtails the freedom to innovate.       A small firm avoids risks that larger firms are willing to take.Question 5.5. (TCO 1) Performing a SWOT analysis is part of the _____. (Points : 5)       planning function       organizing function       leading function       controlling functionQuestion 6.6. (TCO 2) These are government policies aimed at shielding a country’s industries from foreign competition. (Points : 5)       Tariffs       Free-market capitalism       Protectionism       Import quotasQuestion 7.7. (TCO 3) One disadvantage of free trade is _____. (Points : 5)       domestic companies can lose their comparative advantage       uninterrupted flow of capital provides for lower interest rates       workers will be given across-the-board pay increases       a company’s productivity grows when it has an absolute advantage       domestic workers can be trained for additional jobsQuestion 8.8. (TCO 3) Advantages of a Limited Liability Corporation (LLC) include all of the following EXCEPT (Points : 5)       unrestricted member participation in management.       pass-through taxation benefits of a partnership.       advantages of limited liability.       limited number of shareholders.Question 9.9. (TCO 2) What does the term CSR stand for in a corporate setting? (Points : 5)       Corporate Social Reasoning       Corporate Social Responsibility       Corporate Social Reporting       None of the AboveQuestion 10.10. (TCO 3) Starting your own business (Points : 5)       is an alternative to unemployment.       is not risky.       allows others to control your future.       is not difficult and does not require sacrifice.Question 11.11. (TCO 4) Consumers have needs for living and wants, which are desires and to know them helps businesses to meet market demands. From the following list, identify which combination is just needs, or just wants. (Points : 5)       Food and Big Mac       Motorcycle and car       Shelter and condo       Water and Coca-ColaQuestion 12.12. (TCO 4) The rapid spread of brand communities has been one of the major impacts of social media. The Harley Davidson Owners Group is one example of an informal network of people with similar interests who use social media to bond and share information. Why are these brand communities effective? (Points : 5)       The cost of consumer-oriented publications is too expensive.       Consumers now trust their peers more than any source for product information.       Consumers no longer trust salespeople.       State and local consumer protection agencies no longer review products.Question 13.13. (TCO 4) Successfully distributing goods to customers involves low cost and customer satisfaction. Several steps must take place in order to reach this goal. Which step need NOT be considered in the physical distribution of goods? (Points : 5)       Order processing       Market segmentation       Inventory control       TransportationQuestion 14.14. (TCO 5) Which one of these listed below is NOT a classical motivation theory? (Points : 5)       Maslow’s Hierarchy of Needs       Herzberg’s Theories of Motivation       Theory X and Theory Y       Gibson’s Motivational Theories on EmployeesQuestion 15.15. (TCO 6) Production and operations management is best described by which of the following? (Points : 5)       Overseeing all of the activities involved in producing goods and services       Designing machines to do multiple tasks       Tailoring products to meet the needs of a large number of customers       Using technology and robotic units to assist with plant operations       Short production runs and the machines being adjusted frequentlyQuestion 16.16. (TCO 7) An accounting system includes which one of the following? (Points : 5)       Tax return information       Regulatory information       Summarization of accounts information       Personnel information       Eleemosynary informationQuestion 17.17. (TCO 7) Imagine that you have just earned your business degree and have been hired as a hospital administrator at a small hospital that, like many others, is experiencing financial problems. A suggestion that you would make to help improve the financial position of the hospital and correct the financial problems is to (Points : 5)       improve the efficiency of the hospital’s cash management system.       use a carefully planned lawn care service.       continue the hospital’s large stockpile of drugs.       cease using a just-in-time inventory system.       use a carelessly planned inventory control system.

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