Which is an example of ethical business behavior?

Testing products to ensure they are safe to use

What is not Corporate Social Responsibility (CSR)?

Everything a business does to improve its customer base

What is equilibrium price?

The determined place where the supply & demand curves cross

What is the role of the corporate compliance officer (CCO) in a health care setting?

Oversee hospitals business practices & make sure that they conform to law

Which statement best explains why nations must trade?

No nation has all necessary resources.

What are four of the functional departments of a business?

operations, employment relations, marketing and finance

To maintain honesty and integrity we should

Be honest with customers, management, coworkers

people who interact to achieve goal

Characteristics of cross-functional team

Made up of employees from different departments

What is an Oligopoly?

A market controlled by a few large sellers.

External Forces That Influence Business Activities

Economy, government, customer trend, corporate citizenship

What is Perfect Competition

Not much variety, Lots of sellers

The making, passing out, and using of goods and services

What are Stakeholders

People with interest in a business

What is the Business Cycle?

The alternating periods of expansion

What is whistleblowing?

Reporting wrong-doing that occurred in your workplace.

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BUSI - 1005 Review Chapters 1 - 5

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Questions 40

Answers

1
Which is an opportunity in International Business?
All of the above
Licensing and Franchising
Strategic Alliances
Contract Manufacturing and Outsourcing
2
What is the aim of franchising for the franchisor?
Make profit on your own
Grow the business at low cost
keep control of the business
risk the brand's reputation
3
Customers have the right to which of the following
All of the above
Informed about the product
Safe product
Be heard
4
What is NAFTA?
Trade agreement between Canada, Mexico, and the U.S.
Trade agreement between South America and North America.
Trade agreement between Europe and Africa.
Trade agreement between the United States and Europe.
5
Balance of Trade is
Value of Exports - Value of Imports
Vlaue of Imports - Value of Exports
Value of Imports x Value of Exports
Value of Exports/Value of Imports
6
Which is an example of ethical business behavior?
Disclosing partial information about products
Using advertisements to confuse customers
Accepting a bribe from a prominent customer
Testing products to ensure they are safe to use
7
What is not Corporate Social Responsibility (CSR)?
Everything a business does to improve its impact on society
Everything a business does to improve the environment
Everything a business does to improve its ethics
Everything a business does to improve its customer base
8
Importing is when countries sell their products to other nations
False
True
9
What is equilibrium price?
The determined place where the supply curve stops
The determined place where the supply & demand curves cross
The demand curve alone
The determined place where the demand stops
10
Which one is not a cultural difference in international business dealings
Language
Time and sociability
Legal
High and low context cultures
11
What is the role of the corporate compliance officer (CCO) in a health care setting?
To enforce the hospital’s recycling policies
Oversee hospitals business practices & make sure that they conform to law
To ensure a high level of performance by the CFO
To ensure the hospital staff is working within the annual budgets
12
What would be reasonable monetary policy during a period of high inflation?
cut taxes
increase the money supply
raise taxes
reduce the money supply
13
Which statement best explains why nations must trade?
All nations belong to free trade agreements.
No nation can employ all of its laborers.
No nation has all necessary resources.
All nations seek out new production methods.
14
Balance of Payments is the difference between the total flow of money coming into a country and the total flow going out
True
False
15
Quotas limit the quantity of a good that be imported over a period of time
True
False
16
What would be an example of expansionary fiscal policy during a recession?
all of these
increasing government spending
increasing the money supply
increasing income taxes
17
What are four of the functional departments of a business?
operations, employment relations, marketing and finance
operations, enemies, marketing, funding
operations, earning, marketing, finance
operations, employment relations, finance
18
To maintain honesty and integrity we should
Keep to ourselves
Be honest with customers, management, coworkers
Be a whistleblower
Take office supplies for your own use
19
What is a Team?
not depending on another for livelihood or subsistence
people who like to hang out with each other
people who interact to achieve goal
tendancy of some people to avoid responsibility
20
Characteristics of cross-functional team
Frequently there is not assigned leader or manager
Formed when a problem arises
Made up of leaders from varied departments
Made up of employees from different departments
21
What is an Oligopoly?
A market controlled many small sellers.
A market controlled by many large sellers.
A market controlled by a few small sellers.
A market controlled by a few large sellers.
22
What does the Consumer Price Index (CPI) measure?
Unemployment levels
Inflation
Government spending
GDP
23
External Forces That Influence Business Activities
Economy, government, customer trend, corporate citizenship
customer trend, corporate citizenship
Mgt, Acct, Operation, Finance
Economy, government
24
How to be an ethical leader?
Understand the ethics in their leadership styles
All of the answer
Show ethical behaviour in daily life
Recognize the importance of an ethical behaviour
25
Comparative advantage exists when a country can produce a product at a lower opportunity cost compared to another nation
False
True
26
What is the defintion of ethics?
When someone is wrong
Moral principles of a person
When someone is right
All of the above
27
Reviewing a restaurant your family owns is an example of
None of the above
Conflict of Loyalty
Conflict of Interest
Bribe
28
What is Perfect Competition
Not much variety, Lots of sellers
Not much variety, 1 seller
Lots of variety, Lots of sellers
Lots of variety, 1 seller
29
Define Economics.
The making, passing out, and using of goods and services
Making money
One that buys and uses goods and services
The study of money
30
What is a government that dominates and controls all aspects of its country called?
Monarchy
Republic
Communism
Anarchy
31
To measure the health of the economy, the world's economies look at:
All of the above
High Employment
Growth
Price Stability
32
What is a factor of the Economic Environment when doing business in a foreign country?
Foreign Corruption
Legal and Regulatory Environment
All of the above
Currency Value and Exhange Rates
33
What are Stakeholders
People with interest in a business
Vampire slayers
Owners of a company
People who buy shares in a business
34
Which organization works to ease barriers to trade?
General Agreement on Tariffs and Trade
The International Monetary Fund
The World Bank
All of the above
35
What is the Business Cycle?
moving on to the next
The alternating periods of expansion
moving while going up
more work of time
36
What type of economic system is Canada?
Planned
None of the above
Free Market
Mixed
37
Labor, technology, machinery, buildings, and other resources used to produce are know as __.
outputs
externalities
productivity
inputs
38
Which of these is not an example of monopolistic competition?
Hairdressers
Cinemas
Retaurants
Hotels
39
Tariffs are taxes on exports
False
True
40
What is whistleblowing?
Reporting wrongdoing that occurred in competitor's workplace
Ignoring wrongdoing that occurred in your workplace
Ignoring wrongdoing that occurred in competitor's workplace
Reporting wrong-doing that occurred in your workplace.

BUSI - 1005 Review Chapters 1 - 5 Flashcards | StudBud