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Study Resources (Business Management)

  167. Increased competition from firms in other nations is an example of the a. technological environment. b. global environment. c. command environment. d. laissez-faire environment. e. mixed environment. 168. In the last decade of the century,      became a major force in the economy in regard to business. a. reduced business profits b. high interest rates.
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  11. A nation's economy fluctuates instead of growing at a steady pace every year. These fluctuations are generally referred to as the business cycle. Describe the four different phases of the business cycle. 12. What is the difference between monetary policies and fiscal policies? How does each affect the nation's economy? 13..
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  6. Explain how the notion of scarcity is related to personal as well as business decision making. 7. Explain how the basic economic questions are answered in capitalistic and command economies. 8. Why do we say that the U.S. economy is a mixed economy? 9. How does socialism differ from communism? 10. Why is.
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  67. Who was responsible for developing Theory X and Theory Y? a. Maslow b. Taylor c. Treybig d. Herzberg e. McGregor 68. Theory X by Douglas McGregor is generally consistent with which other theory? a. Taylor's b. Herzberg's c. Maslow's d. Treybig's e. Hawthorne's 69. According to Theory X by McGregor, managers assume that employees a. do not.
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  117. Economists define a      as two consecutive three-month periods of decline in a country's gross domestic product. a. repression b. prosperity c. recession d. trough e. recovery 118. The economic term used to describe the Federal Reserve's actions to determine the size of the supply of money in the nation and the level.
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  167. Frederick W. Taylor originated the theory of satisfaction and dissatisfaction. a. True b. False 168. Herzberg thought a state of complete satisfaction was common among employees. a. True b. False 169. The concepts underlying Theory Z were first presented in the 1960 book, The Human Side of Enterprise. a. True b. False 170. The Human.
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  217. The recurrence of periods of growth and recession in a nation's economic activity is a depression. a. True b. False 218. During the peak or prosperity stage of a nation's business cycle, businesses are reluctant to offer new products and services. a. True b. False 219. Economists define a recession as two or more.
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  137. means giving employees greater involvement in their jobs and the organization's operations by increasing their participation in decision making. a. Behavior modification b. Flextime c. Job sharing d. Empowerment e. Job enlargement 138. For employee empowerment to work effectively, management must be involved and must perform all of the following functions except a. communicate standards. b. institute.
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  37. The Hawthorne studies revealed that employees who are happy and satisfied with their work will perform better. Out of this study and others like it, the        movement was born. a. human relations b. piece-rate c. social acceptance d. worker loyalty e. group dynamics 38. The Hawthorne studies showed that      are equal to salary motivation..
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  65. Western Civic Club's goals differ from those of a profit-driven business, meaning that it is part of a(n) market. a. producer b. governmental c. institutional d. consumer e. organizational 66. Dell Computer Corporation sells personal computers to colleges and universities, hospitals, civic clubs, charitable organizations, and foundations. This market is called a(n)                market. a. consumer.
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  11. What is goal-setting theory and how can an organization benefit from it? 12. Discuss the five steps of an MBO program. 13. Explain the different facets of job enrichment and behavior modification. 14. What are the advantages and disadvantages of a flextime work schedule? 15. What are the benefits and the problems associated.
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  85. The product Centrum Silver is positioned as a vitamin supplement for older adults. The makers of Centrum Silver have segmented the vitamin market on a                basis. a. behavioristic b. demographic c. psychographic d. brand-related e. geographic 86. Ikea furniture store promotes its furniture to its target market based on its customers'.
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  125. Coca-Cola wants to determine how popular its new soft drink will be before launching it nationwide. What will Coca-Cola most likely use? a. Its marketing information system b. External data c. Internal data d. Marketing research e. Employee survey 126. Kathryn, a marketing researcher, is currently analyzing the information collected and determining what possible.
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  Home Inspirations   Hailey works for her father in a family-owned business called Home Inspirations, a bedding company that has been in operation since the 1800s. When her father retires, Hailey plans on taking over the business. Hailey is aware of many things about the company that she likes, and a few.
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  Satellite Communications   Jonathan worked for Satellite Communications for twenty years. In the time that he worked there, he learned a lot about the company and how it operated. The company met its sales and revenue goals every year. However, most of the employees had similar educational and cultural backgrounds. He believed.
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1. Identify and describe the four major types of utility. Which one is influenced indirectly by marketing efforts? 2. What does it mean for a firm to have a strong production orientation? How does this differ from the marketing concept? 3. Your firm would like to implement the marketing concept. What information.
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  127. The systematic use of reinforcement to encourage desirable organizational behavior is called a. behavior modification. b. replacement theory. c. equity theory. d. expectancy theory. e. reinforcement theory. 128. Behavior modification as applied to business management is mainly based on a. reinforcement theory. b. equity theory. c. Theory X. d. employee participation. e. having an all-salaried workforce. 129..
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  6. Under Herzberg's motivation-hygiene theory, what are some of the factors that increase motivation and some that reduce dissatisfaction? If motivation factors are absent, is there an increase in feelings of dissatisfaction? If hygiene factors are absent, is there an increase in feelings of dissatisfaction? 7. How does a positive reinforcement.
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  187. Employee stock ownership plans (ESOPs) provide considerable employee incentive and increase employee involvement. a. True b. False 188. A growing number of companies are organizing their workforces into teams. a. True b. False 189. Problem-solving teams are created to work together permanently. a. True b. False 190. Self-managed teams take over most management functions. a. True b..
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  127. The rivalry among businesses for sales to potential customers a. is an unfair business practice. b. is a necessary part of a command economy. c. is referred to as competition. d. is typical in a communist nation. e. doesn't exist in the real world. 128. For firms like Target and Walmart, competition a..
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  187. Profit is the payment business owners receive for assuming the risks of ownership. a. True b. False 188. The term stakeholders refers only to the people who have invested money in a business. a. True b. False 189. Economics is the study of how wealth is created and distributed. a. True b. False 190. How.
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  97. What is the main weakness of Maslow's hierarchy of needs and Herzberg's motivation-hygiene theory? a. They are too complicated to be of any practical value to managers. b. They do not specify what motivates people. c. They do not explain why or how motivation is developed and sustained. d. They offer.
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  197. Adam Smith developed the concept of the invisible hand to explain how all economic activity should be based on a nation's needs and not the individual's needs. a. True b. False 198. A market economy is sometimes referred to as a command economy. a. True b. False 199. The U.S. business system is commonly.
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  177. The weakness in Maslow's hierarchy of needs and Herzberg's theory is that, although each one explains how motivation is caused and sustained, neither specifies what motivates individuals. a. True b. False 178. The equity theory of motivation contends that people are motivated first to achieve and then by the desire to be.
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  115. General Foods Corporation uses data such as sales figures, product and marketing costs, inventory levels, and activities of its sales force to make marketing decisions. The firm is using                data. a. internal b. external c. continual d. government e. economic 116. Greer, Inc. is developing a marketing information system to try.
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  147. A market or industry with only one seller is referred to as a. a limited command system. b. a monopoly. c. an oligopoly. d. monopolistic competition. e. a perfect competitive market. 148. If all leading corporations in the soft-drink industry merged, this would a. encourage pure competition. b. encourage monopolistic competition. c. lead to.
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  145. The income an individual receives from all sources less the Social Security taxes that the individual must pay is known as                income. a. gross b. personal c. disposable d. discretionary e. net 146. Kim Nguyen's monthly net income from all sources less Social Security taxes is $3,000. This income is called income. a. ordinary.
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  27. When an individual chooses his or her ideal career, it is most likely a reflection of one's a. values. b. hobbies. c. skills. d. education. e. desire to be rich. 28. Chris chooses to work only thirty hours a week as an engineering assistant while trying to shield himself from additional responsibilities at.
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  147. The team member that places the team's goals first is fulfilling what role? a. Leadership b. Team advocate c. Task specialist d. Expert e. Virtuoso 148. The team member concerned with the emotional needs of others is fulfilling what role? a. Caregiver b. Psychologist c. Mother hen d. Leadership e. Socioemotional 149. The personal force causing someone.
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  95. Furs Unlimited is using a combination of advertising and personal selling to increase the sales of its fur coats. This activity involves the                ingredient of the marketing mix. a. distribution b. promotion c. pricing d. timing e. product 96. The forces that make up the external marketing environment of a firm a..
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  137. Monopolistic competition is a market situation in which a. similar but not identical products are available. b. only one product is available. c. several identical products are available. d. the same price is charged for all products. e. the government regulates prices. 138. a. Advertising b. Monopolistic competition c. Product differentiation d. Branding e. Goods distinction 139. The.
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  Garrett Enterprise   Garrett Enterprise is a well-known company that has been around for many years. However, Mr. Smith, its CEO, has noticed recently that the company is not performing up to par. He has been watching the employees closely. Mr. Smith saw that his workers do only what is required and.
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  157. According to the hierarchy of needs concept, people satisfy their needs in order of importance. a. True b. False 158. According to Maslow's hierarchy of needs, the most basic needs are physiological needs. a. True b. False 159. Physiological needs are satisfied by job security, health insurance, pension plans, and good working conditions..
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  47. A sense of belonging is a characteristic of which need level? a. Social b. Esteem c. Self-actualization d. Safety e. Physiological 48. When Sara was recognized by the store manager at a store meeting for exceeding all of her past year's objectives and when the announcement of her promotion to assistant store manager was.
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  177. After getting her bachelor's degree in business, Mary Wilson realized she was much more productive at her job than she had been before. Mary's degree helped her to become a better employee. a. True b. False 178. Today, managers and employees are no longer concerned about cultural diversity. a. True b. False 179. Because.
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  207. Karl Marx is known as the father of communism. a. True b. False 208. Productivity is the total output per worker per year. a. True b. False 209. Reducing costs and enabling employees to work more efficiently are at the core of all attempts to improve productivity. a. True b. False 210. Fewer workers producing more.
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  227. The equilibrium or market price exists when the supply of a product exceeds the amount that consumers are willing to purchase. a. True b. False 228. The products available in a monopolistically competitive market are similar in nature and are intended to satisfy the same need. a. True b. False 229. An oligopoly is a.
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  105. The effects of changes that can cause a product to become obsolete almost overnight would best be called forces. a. competitive b. political c. technological d. sociocultural e. economic 106. Leslie, the marketing manager of RLS Manufacturing, is evaluating factors that could affect sales of its line of golf bags over the.
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  87. Stephanie receives high praise from her boss when she attracts a new client to her firm. This praise leads Stephanie to work hard to obtain more new clients. For Stephanie, the praise from her boss was a. Theory X in nature. b. unmotivational enforcement. c. internal reinforcement. d. negative reinforcement. e. positive.
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  157. The use of the factory system in the United States helped to usher in the a. colonial period. b. Industrial Revolution. c. Great Depression. d. Renaissance. e. twentieth century. 158. One of Samuel Slater's contributions to the development of American business was the use of a. capital. b. flexible manufacturing. c. domestic robots. d. the.
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  77. Theory Y is most suitable in a work situation in which workers are a. in need of close supervision. b. just beginning to learn their jobs. c. highly motivated. d. unskilled. e. none of the above. 78. When Hewlett-Packard assumes that employees accept responsibility and work toward company goals and thus also achieve.
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  135. Lynn walks into a local convenience store to buy chewing gum. She more than likely will employ to make that purchase. a. absolute response behavior b. extensive decision making c. limited decision making d. routine response behavior e. intensive decision making 136. Erica goes to a drugstore and purchases toothpaste. What type.
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1. How does motivation differ from morale? 2. Under Taylor's scientific management system, what did management have the responsibility to determine about an employee's work, and what did the employee have the responsibility to decide? 3. What did Elton Mayo discover in the Hawthorne Studies about human factors that led to the.
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  57. Lisa loves her work and feels that she is well recognized by her peers and superiors for the work that she does. These motivation factors are         for Lisa. a. satisfiers b. encouragers c. rewards d. bonuses e. social fulfillment 58. Under Herzberg's theory, when factors are present in the work environment, they act as satisfiers;.
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  37.      resources are the individuals who provide labor for an organization in exchange for wages. a. Human b. Material c. Labor d. Financial e. Informational 38. The monetary contributions that the owners of IBM pay for shares of the company's stock are IBM. a. material b. financial c. informational d. human e. manufacturing 39. What resource tells the managers.
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