krishnagupta11
For businesses to behave ethically and responsibly, their employees…
For businesses to behave ethically and responsibly, their employees need
higher salaries
good benefits
higher education
strong moral guidance from the leadership
“Newman’s Own” is a food product line that gives 100 percent of its after-tax profits to charity. This company is practicing ______.
business ethics
social responsibility
customer satisfaction
creativity
______ refers to standards of conduct and moral values of a firm.
Business ethics
Social responsibility
A social audit
Creativity
Steve Jobs is a business leader who was able to anticipate what customers are looking for, and led his company to create products that meet those needs. This is an example of _____.
decision making
market research
outsourcing
critical thinking
Which of the following is NOT an example of an internal force that requires organizational change?
labour union demands
production problems
new technologies
new company goals
Feedback from customers is an example of a(n) ______ that requires organizational change.
internal force
external force
change agent
marketing issue
In business, ______ refers to the ability to see better and different ways of doing business.
critical thinking
social responsibility
vision
creativity
Emily works for a pharmaceutical company and gives a presentation on the need to expand the company’s geriatric division within the next ten years. Emily is helping to establish the company’s ______.
creativity
productivity
vision
critical thinking
For today’s managers, which of the following is least important?
the ability to work by strict rules
vision
critical thinking skills
creativity
All of the following statements are correct EXCEPT
successful businesses seek to meet their social and ethical responsibilities.
business is the economic pulse of a nation.
business includes not-for-profit organizations that provide services to the public.
business provides goods and services necessary to an economic system.
A manager’s only obligation is to environment for creativity and critical thinking. The implementation of those ideas is carried out by other departments.
True
False
Natural resources are essential for certain companies but are NOT required for all economic systems.
True
False
Fortune Magazine publishes a list of most admired companies in the world each year. What criteria do companies have to meet in order to make the list?
Define profit. Explain why you agree or disagree with the following statement: “The success of a business is measured only by the profit it earns.”
A company removes a profitable product from the market because it may be dangerous. This company is demonstrating ___.
ethical behaviour
green marketing
conflict of interest
social welfare
Which of the following statements best justifies why a company should act in an ethical manner?
The government will take action if a firm fails to act ethically.
Acting ethically always maximizes profits in the short run.
Acting ethically will help a company to prosper in the long run.
The right thing to do is always the least expensive alternative.
___ refers to the way in which a business tries to balance its commitments to ___.
Business ethics; organizational stakeholders and society as a whole
Corporate social responsibility; organizational stakeholders and society as a whole
Business ethics; investors
Corporate social responsibility; the government
Tanisha is a diabetes educator at a local clinic. Recently, she was offered a lavish trip by a sales representative who has been pushing the clinic to use his company’s diabetes supplies. Tanisha declined the gift. Which ethical challenge did she face?
whistle-blowing
honesty and integrity
cultural consequences
conflict of interest
Harold knows of a defect in a product his company sells. He will disclose the defect but only if the customer specifically asks about it. Harold’s ___ could be called into question.
loyalty
truthfulness
integrity
whistle-blowing
Canada’s Bill 198 and the Sarbanes-Oxley Act of the United States can both ___.
replace a company’s code of ethics
protect corporate executives who engage in wrongdoings
guarantee ethical behaviour
motivate businesses to develop written codes to guide ethical behaviour in the workplace
On average, women with a college degree earn less money than men with a college degree. This is an example of
social responsibility.
sexual harassment.
sexism.
whistle-blowing.
The ___ defines the standards for safety and advertising to be followed by makers of drugs, cosmetics, and therapeutic devices.
Food and Drug Act
Occupational Safety and Health Administration (OSHA)
Consumer Compliance
Securities and Exchange Commission (SEC)
A marketing strategy that promotes environmentally friendly products and production methods is called ___.
consumerism
recycling
ethical awareness
green marketing
24. The sales manager decides to double each salesperson’s monthly quota. What impact is this action likely to have on the company’s ethical climate?
It will improve.
It will remain the same.
It will deteriorate.
Not enough information is provided to determine the effect.
25. An advertising agency representing two companies that compete with one another has an obvious conflict of interest.
True
False
26. Employees should always be loyal, regardless of the situation.
True
False
27. A corporate culture that supports business ethics develops on four levels. Mention and explain each of those levels.
28. In general, as price of a good or service increases, the quantity demanded
increases.
decreases.
stays the same.
depends on the type of product or service.
29. ______ refers to the willingness and ability of buyers to purchase goods and services.
Consumer behaviour
Customer preference
Supply
Demand
30. As the number of suppliers of a product increases, the supply curve shifts to the ______ and the price will ______.
right; fall
right; rise
left; fall
left; rise
31. The three major types of economic systems are ______.
capitalism, planned economies, and mixed economies
capitalism, pure competition, and planned economies
capitalism, monopoly, and mixed economies
capitalism, oligopoly, and planned economies
32. Which of the following market structures best describes the Canadian auto industry?
monopoly
pure competition
monopolistic competition
oligopoly
33. Before the patent expired on allergy medicine Claritin, pharmaceutical company Schering-Plough was able to set its own price in the marketplace. From which type of competition did the company benefit?
oligopoly
pure competition
monopolistic competition
monopoly
34. Consumers often turn to lower-priced retailers for the goods they need during a business cycle of ______.
recession
recovery
prosperity
depression
35. ______ provides a running measure of consumer price changes.
The Consumer Price Index (CPI)
Devaluation
Per capita income
The Producer Price Index (PPI)
36. A balanced budget occurs when ______.
all of the national debt is repaid
taxes, fees, and borrowings are equal to government spending for the year
taxes and fees equal all government spending except for capital expenditures
all federal taxes and fees equal all federal government spending
37. High ________ unemployment is a global economic challenge.
frictional
structural
seasonal
cyclical
38. When a manager tries to predict prices and quantities that will be sold, he or she is dealing with microeconomics.
True
False
39. Canada has a small portion of the world’s population. If a Canadian company seeks growth, it must expand globally.
True
False
40. Differentiate between macroeconomics and microeconomics. What types of economic activities might be included in each category?
41. Differentiate between a monopoly and an oligopoly in the private enterprise system.
42. Computers that are manufactured in Japan and sold in Norway are categorized as Japanese ______.
imports
exports
countertrades
outsourcing
43. An absolute advantage occurs when a country can maintain ______.
a monopoly by outlawing foreign imports
a monopoly by levying high taxes on imports
a monopoly by being the lowest-cost producer of a good or service
its advantage by producing a good or service more efficiently
44. The country Artesia exported products totaling $86 billion last year. During the year, Artesia imported products valued at $43 billion. Artesia has a(n) ______.
exchange rate of 2 to 1
trade deficit of $43 billion
trade surplus of $43 billion
unfavourable balance of payments
45. Which of the following would result from devaluation of the Canadian dollar?
Canadian goods would sell for less abroad.
The cost of foreign vacations for Canadian citizens would be reduced.
Foreign firms would have to pay more to purchase Canadian assets.
Canadian goods would be more expensive for American consumers.
46. Goto, Inc. is trying to establish a supplier relationship with a parts manufacturer in a small Asian country. Filipe, the purchasing manager, is attempting to get to know the general manager and staff of the company to help finalize the agreement. Filipe is attempting to overcome what type of barrier?
physical barrier
tariff restriction
exchange controls
cultural barrier
47. A foreign-made household appliance is popular and is highly competitive with the same product manufactured domestically. To give the domestic industry a better chance to operate profitably, the government restricts the number of these appliances that can be imported by applying a(n) ______.
import quota
embargo
protective tariff
revenue tariff
48. Which of the following is NOT a social or cultural barrier in international trade?
language
religion
consumer attitudes
currency exchange
49. A less-developed nation is facing a financial crisis due to the rapid devaluation of its currency. Which of the following might aid this country?
International Monetary Fund
World Bank
United Nations
World Trade Organization
50. All of the following are part of the European community’s plan to eliminate all barriers to free trade among its members with the exception of ______.
business regulation and requirements being standardized
trade duties and value-added taxes being standardized
custom checks being eliminated
legal systems being standardized
51. The most common first step in engaging in international business is ______.
countertrade
foreign licensing
indirect exporting
direct exporting
52. Trading internationally allows companies to spread their risks.
True
False
53. An import quota is an example of a cultural barrier to global business.
True
False
54. What is dumping? How do countries counteract this practice?
