Tco 1 People Who Stand To Gain Or Lose By The Policies And Activities Of A Busi

(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)
       Government employees
       Surrounding/competing businesses
       Foreign business leaders
       Domestic business leaders
Question 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 consumers
Question 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 function
Question 6.
6. (TCO 2) These are government policies aimed at shielding a country’s industries from foreign competition. (Points : 5)
       Free-market capitalism
       Import quotas
Question 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 jobs
Question 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 Above
Question 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-Cola
Question 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
Question 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 Employees
Question 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 frequently
Question 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 information
Question 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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