Franco’s Bread Shop is introducing a new type of sandwich bread to the community this week. Which of the following descr

Promoting the new bread through advertising

When the Pretty Pictures framing business underwent internal restructuring last year, how would its primary business act

They adjusted according to the internal changes.

How has technology changed the nature of competition?

Companies must stay in step with new technologies.

A business should research corruption before it engages in trade with a particular country because it

needs to know how corruption will affect its competitiveness there.

Which of the following is a benefit that businesses receive from using the Internet:

Faster connections with suppliers

Which of the following allows the free movement of goods and services among Canada, the United States, and Mexico:

North American Free Trade Agreement

A country with a weak currency value tends to

decrease its imports and increase its exports.

Financial analysis occurs when a business

keeps accurate expense records.

Which of the following is an action a business might take to address the issue of religion in another culture:

Paying attention to holidays when scheduling meetings

When Caring Companions and Smiling Pets merged two years ago, what was the most likely effect on the primary business ac

Each primary business activity combined with the matching activity of the

An example of performing business activities in an “out of the ordinary” way is when a business

hires an outside firm to perform its marketing.

Which of the following is a method of technological information gathering that businesses can use to enhance customer re

A customer registers on the company website.

Which of the following activities demonstrates human resources management:

The business takes care of the responsibilities associated with having em

According to the marketing concept, which option shows company commitment?

Setting aside funds to research what customers want

Which of the following situations represents an absolute advantage for the United States:

Germany produces cars at $14,000, while the U.S. produces cars at $12,000

Which of the following activities demonstrates the primary business activity of marketing:

The business meets customers’ needs by offering appropriate products.

Which of the following examples best demonstrates the cultural dimension of indulgence v. restraint:

Companies from certain cultures make time for fun.

Every business must accomplish which of the following:

Produce or provide goods/services

Which of the following activities demonstrates information management:

Storing and retrieving information

Which of the following influences the process of determining price:

Customers’ perception of value

How has technology affected the travel-agency industry?

Technology has threatened the travel-agency industry.

Which of the following behaviors demonstrates the primary business activity of strategic management:

Planning and organizing for the future

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Principles of Business Project 3 Test Part Two

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1
Franco’s Bread Shop is introducing a new type of sandwich bread to the community this week. Which of the following descr
Promoting the new bread through advertising
Collecting information on last year’s new breads
Planning for the long-term results of introducing new breads
Creating a system for storing new bread recipes
2
When the Pretty Pictures framing business underwent internal restructuring last year, how would its primary business act
They adjusted according to the internal changes.
They changed radically.
They adjusted according to the external changes.
They stayed the same.
3
How has technology changed the nature of competition?
Companies must stay in step with new technologies.
Only big companies can stay competitive.
All competition is now conducted online.
Competition has significantly decreased.
4
Avoiding the use of slang falls under which guideline for dealing effectively with people from different cultures?
Show respect.
Strive to communicate clearly.
Expect differences to arise.
Be patient.
5
Phil works from his home office on Tuesdays and Thursdays. This is known as
collaborating
telecommuting.
networking.
information gathering.
6
Within a local pizza shop, financial analysis is most likely used to
attract customers.
oversee the baking process.
develop the best recipe.
obtain funding for supplies.
7
Which of the following is a method used to communicate with customers:
Personal selling
Marketing concept
Customer orientation
Manufacturing
8
A business should research corruption before it engages in trade with a particular country because it
is required to report that country to international authorities.
needs to know how corruption will affect its competitiveness there.
needs to hide bribes within its accounting records.
is required to pay bribes to set up operations in a new country.
9
A specific Internet technology that allows users to make voice and video calls online is called
Expert Systems.
Electronic Transfer of Funds.
Voice over Internet Protocol.
hardware
10
Which of the following is a benefit that businesses receive from using the Internet:
Improved methods of manufacturing
Easier use of satellite radio
The ability to call employees on the road
Faster connections with suppliers
11
George thinks his culture is superior to all other cultures. This is known as
individualism.
ethnocentrism
collectivism
stereotyping.
12
Which of the following allows the free movement of goods and services among Canada, the United States, and Mexico:
North American Free Trade Agreement
European Union
Consumer Product Safety Commission
World Trade Organization
13
How do nations track the flow of money coming in and going out of their countries?
Balance of payments
Growth in economy
Value of currency
Level of exports
14
A country with a weak currency value tends to
rely solely on trade centers to manage the flow of exports.
gain consumer confidence which limits spending.
experience high unemployment rates.
decrease its imports and increase its exports.
15
In some cultures, creating relationships during business negotiations is key; in other cultures, negotiators want a sign
styles
goals
schedules
attitudes
16
Financial analysis occurs when a business
plans for long-term success.
effectively retrieves data.
keeps accurate expense records.
communicates with potential customers.
17
Which of the following are methods that countries use to control their trade with other nations:
Embargoes, surplus charges, and product standards
Tariffs, economic sanctions, and royalties
Product standards, admission fees, and licenses
Quotas, tariffs, and subsidies
18
According to the marketing concept, which option demonstrates customer orientation?
Finding out what a buyer wants
Advertising the features of a product
Researching a firm’s competitors
Convincing a buyer to buy
19
Which of the following is an action a business might take to address the issue of religion in another culture:
Engaging in stereotyping
Creating price controls
Paying attention to holidays when scheduling meetings
Setting aside money to pay bribes to religious officials
20
Which of the following is an example of communicating with customers:
Creating a new product
Sponsoring a charity event
Developing a marketing plan
Choosing a store to distribute products
21
In an overall sense, where does marketing occur?
Wherever stores are
Wherever businesses are
Wherever customers are
Wherever advertisements are
22
When Caring Companions and Smiling Pets merged two years ago, what was the most likely effect on the primary business ac
Each primary business activity became two smaller business activities.
Each primary business activity combined with the matching activity of the
All of the primary business activities combined into one activity.
All of the primary business activities combined into two distinct activit
23
Global positioning systems (GPS) rely on the use of what type of technology?
Cell phone technology
Voice over Internet Protocol
Satellite technology
The Internet
24
An example of performing business activities in an “out of the ordinary” way is when a business
operates as the link between customers and products.
offers a new product in a popular product line.
hires an outside firm to perform its marketing.
begins long-term planning and organization.
25
Which of the following occurs when a country can produce goods at a relatively more efficient rate than another country:
Trade surplus
Trade deficit
Comparative advantage
Absolute advantage
26
Which of the following is a method of technological information gathering that businesses can use to enhance customer re
A customer registers on the company website.
A customer receives a coupon in the mail from the business.
A customer comes to the store to fill out a warranty card.
A customer writes a letter of complaint to the company.
27
Which of the following activities demonstrates human resources management:
The business gives its preferred customers a special discount.
The business acts on new information about a competitor.
The business includes top-level managers in long-term planning.
The business takes care of the responsibilities associated with having em
28
Which of the following terms describes the difference between the exports and imports of a nation:
Balance of trade
Cash flow
Trade deficit
Trade surplus
29
Which of the following items cannot be marketed:
Hawaii
Health
Health
Hopefulness
30
According to the marketing concept, which option shows company commitment?
Leaving marketing to the marketing department
Pricing a product to maximize profitability per item
Teaching marketing to college marketing students
Setting aside funds to research what customers want
31
Which of the following situations represents an absolute advantage for the United States:
Malaysia produces rubber at the same cost as the United States does.
Canada produces paper at $3.00 a ream, while the U.S. produces it at $3.2
Germany produces cars at $14,000, while the U.S. produces cars at $12,000
France produces bottled water at $.80 per gallon, while the U.S. produces
32
Which of the following activities demonstrates the primary business activity of marketing:
The business expects to merge with another business in the industry.
The business prepares for long-term success by planning and organizing.
The business meets customers’ needs by offering appropriate products.
The business hires qualified employees to perform complex job duties.
33
When an employee uses a computer program to help manage bookkeeping tasks, s/he is using
networking abilities.
expert systems.
software.
hardware.
34
Which of the following examples best demonstrates the cultural dimension of indulgence v. restraint:
A country values hierarchies and strict group roles.
Companies from certain cultures make time for fun.
Companies from certain cultures play it safe and do not take risks.
A society believes in pursuing personal accomplishments.
35
Every business must accomplish which of the following:
Trade or sell business assets/property
Produce or provide goods/services
Obtain venture capital
Issue corporate bonds
36
Which of the following activities demonstrates information management:
Researching customers’ needs
Conducting employee evaluations
Hiring appropriate employees
Storing and retrieving information
37
Which of the following is a marketing activity:
Communicating with customers
Leading a project team
Lowering operational expenses
Balancing customer needs with wants
38
Which of the following influences the process of determining price:
Purchase location
Sales promotion
Customers’ perception of value
Publicity
39
In Hofstede’s dimensions of national cultures, a country’s acceptance of inequality is measured by its score in
power distance.
uncertainty avoidance.
individualism v. collectivism.
masculinity v. femininity.
40
Marketing encourages people from different countries to __________ frequently.
train
travel
trade
think
41
Without marketing, producers and customers would be
exposed to many new and improved products.
in close communication with each other.
highly dependent on advertising agencies.
disconnected from each other.
42
Which of the following problems is connected to technology:
Oil shortages
Air pollution
Inflation
Lack of health care
43
How has technology affected the travel-agency industry?
Technology has threatened the travel-agency industry.
Technology has contributed to the growth of the travel-agency industry.
Technology has eliminated the travel-agency industry.
Technology is not related to the travel-agency industry.
44
When a business uses computer technology to manage its money and move it among different accounts, it is taking advantag
hardware.
electronic transfer of funds.
expert systems.
electronic data interchange.
45
A medical professional enters a patient’s symptoms into a computer program designed to help diagnose illnesses. This pro
Voice over Internet Protocol.
expert system.
virtual doctor.
computer-aided design.
46
Which of the following behaviors best describes the primary business activity of operations:
Producing goods and services
Hiring qualified employees
Keeping accurate financial records
Planning for future success
47
A business that buys goods and services from a company in another nation is performing which of the following activities
importing
exporting
producing
promoting
48
Kyle is part of a group of employees who are close friends and like to spend their lunch hours together, eating or playi
organizational culture
collectivist society
subculture
religious committee
49
Computers direct robots and other machines to do specific tasks in a technology known as
computer-aided manufacturing.
Internet telephony.
virtual training.
computer-aided design.
50
Which of the following behaviors demonstrates the primary business activity of strategic management:
Obtaining funds for business projects
Recruiting appropriate employees
Regularly updating business processes
Planning and organizing for the future
51
Which of the following is a likely result of a strong or highly valued currency:
Increased exports
Increased imports
Decreased interest rates
Decreased demand for bonds
52
Millie deals with customers from a certain country on a regular basis. When she meets people from this country in a soci
uncertainty avoidance
power distance
stereotyping
ethnocentrism
53
A business can be described as a(n)
unreasonable means for increasing revenues.
disorganized method of manufacturing products.
reasonable way to make a profit.
organized effort to produce goods and services.
54
What is the biggest impact of technology on the computer industry?
Technology eliminated the computer industry.
Technology is not related to the computer industry.
Technology created the computer industry.
Technology changed the computer industry.
55
Smartphones allow employees to
communicate while out of the office.
diagnose complicated business problems.
keep sensitive company information confidential.
diagnose com make manufacturing processes more efficient.
56
A country that values qualities such as assertiveness and status is known as a(n)
short-term oriented society.
“masculine” society.
indulgent society.
uncertainty-accepting society.
57
A society that focuses on future rewards and values actions such as persistence is known as a(n)
long-term oriented society.
uncertainty-avoiding society.
individualist society.
“feminine” society.
58
What does a nation develop when its imports are greater than its exports?
Trade surplus
Weak currency
Trade deficit
Balance of trade
59
Which of the following is the most likely policy that a government would follow to avoid a trade deficit:
protectionism
discrimination
isolationism
speculation
60
Which of the following is a true statement regarding the impact of religion on international trade:
Religion is an issue only when operating in Muslim countries.
Religion affects only work hours and holidays.
Religion does not have a significant impact on business.
Religion is more important in some cultures than in others.
61
Which of the following technologies has made manufacturing more efficient:
The Internet
Satellites and software
cell phones
Improved materials and methods
62
Which of the following represents a primary business activity:
Supervising
Marketing
Designing
Scheduling
63
Levels of inflation and unemployment are factors that affect __________ in the world market.
satisfaction
competition
communication
specialization
64
A country can often produce goods more cheaply than other nations because it
is not subject to tariffs and quotas.
places limits on its imports.
has easy access to raw materials.
possesses a very high standard of living.
65
A nation that exports more than it imports maintains a
trade deficit.
balance of trade.
lower standard of living.
trade surplus.
66
Janelle’s Creative Supplies is opening an additional location on the other side of town. To successfully operate the new
additional employees.
new carpet and paint.
extra free time.
more advertising spots.
67
Which of the following is a true statement regarding the process of preparing employees to deal with people from other c
Employees need to be prepared only if they are traveling overseas.
It is most important to be culturally sensitive when meeting in person.
All employees must take language training and become fluent.
Cultural training is a good way to teach employees the basic guidelines.
68
The most common form of corruption affecting international trade is
negotiation.
government involvement.
uncertainty avoidance.
bribery.
69
How can technology make entering foreign markets easier?
It makes accounting tasks simpler.
It eliminates shipping costs.
Satellite technology lessens trade barriers.
Businesses can sell products online.
70
TeJuan’s Fishing Shack demonstrates effective information management by
removing wasted materials from the process of providing goods to customer
promoting new fishing equipment in a popular trade magazine.
accessing a list of fishing equipment appropriate for a particular custom
hiring fishing experts to explain how to use the goods offered.
71
The purpose of communicating with customers is to
gather participants for a survey.
determine prices.
attract customers’ interest.
befriend customers.
72
Which of the following activities is an aspect of marketing a service:
Advertising the state of Michigan on television
Developing a new, improved cell phone
Determining how much to charge for a haircut
Finding out customers’ favorite coffee flavors
73
Which of the following demonstrates the interrelationship among primary business activities:
A business manager becomes vice president, so his/her department must adj
A business changes its goals, so its strategies and tactics change, too.
A new product is introduced, so business advertisements must adjust.
One business activity changes, so the others must adjust.
74
Japan and the U.S. buy and sell each other’s goods and services. This is an example of
importing
global trade
domestic trade
exporting
75
Which of the following is a benefit of global trade:
An improved standard of living
An increased trade deficit
Stronger trade restrictions
Higher prices for goods and services
76
The biggest communication issue for businesses engaging in international trade is
power distance.
corruption.
language.
religion.
77
Sonja works at a company with a very relaxed atmosphere among all the employees. This atmosphere is part of the company’
uncertainty avoidance.
subculture.
organizational culture.
power distance.
78
According to Hofstede’s dimensions of national cultures, a certain country has a high comfort level with insecurity and
uncertainty avoidance.
power distance.
indulgence v. restraint.
individualism v. collectivism.
79
Which of the following is not considered a technological innovation:
The weather
The cell phone
The Internet
The wheel
80
A society in which group ties are very loose is known as a(n)
collectivist society.
“feminine” society.
individualist society.
uncertainty-avoiding society.
81
Overall, what does marketing allow us to do?
Live our daily lives
Limit our spending
Stop buying online
Feel better about shopping
82
Marketing is described as creating
needs.
gaps.
advertisements.
exchanges.
83
A large trade deficit in a nation often leads to __________ opportunities.
more trade
fewer job
fewer import
more export
84
Marketing links producers to
distributors.
customers.
retailers.
marketers.
85
If a government wants to reduce the volume of imports allowed into its country, it could limit the number of __________
licenses
product standards
quotas
tariffs
86
The U.S. produces widgets faster and cheaper than Switzerland. In this example, the U.S. has a(n) _________ advantage.
absolute
predictable
comparative
constructive
87
In the marketing concept, whose point of view matters most?
Marketer’s
Buyer’s
Planner’s
Seller’s
88
To encourage people to buy domestic goods, a country wants foreign goods to be costlier. It imposes a tax on imported pr
bribe
quota
idiom
tariff
89
Some businesses sell their goods and services to individuals, businesses, or governments in other countries. This is an
domestic trading
importing
exporting
deficit trading
90
According to the marketing concept, keeping company goals in mind means
putting marketing second to other company goals.
maintaining the firm’s purpose.
containing marketing costs.
making product prices low.
91
The French-Canadian culture relies heavily on nonverbal communication to get messages across. This means it is a(n)
low-context culture.
religious culture.
ethnocentric culture.
high-context culture.
92
Of the following, which is a durable good:
Lip balm
Hamburger
Coffee mug
Insect repellent
93
How has technology changed the nature of marketing?
Marketing jobs are scarcer than they used to be.
It’s easier for businesses to communicate with customers.
Marketing is now completely electronic.
Businesses have fewer potential customers to reach.
94
A business that exists to fulfill a specific mission or undertaking is called a __________ business.
nonprofit
for-profit
focused
mission-central
95
Which of the following is the most common reason for businesses to search for ways to make their products better and che
Competition
Service marketing
E-commerce
Publicity
96
For the long-term success of the business, Stacey’s Coffee House has decided to add a self-serve laundromat. Which of th
Promoting its new service to potential customers
Determining what will put it in reach of its goals
Organizing itself for meeting its objectives
Establishing a system for retrieving information
97
A computer’s internal processor is part of its
expert systems.
hardware
virtual training.
software.
98
Making sure that a business has enough of a product in stock without having too much on hand is the goal of
production
quality control.
inventory management.
human resources management.
99
What provides the basis for all marketing goals and actions?
pricing
budgeting
retailing
planning
100
Technology is the practical application of which of the following studies to society and industry:
Economics
History
Literature
Science

Principles of Business Project 3 Test Part Two Flashcards | StudBud