BUS122 Final

Card Set Information

BUS122 Final
2012-10-24 10:51:04
Business Essentials Final Exam

Chapters 8, 9, 10, 11, 14
Show Answers:

  1. Personality and attitudes are dimensions of ____________?
    A) emotionality B) emotional intelligence C) agreeableness D) individual differences among employees
  2. Self-awareness, empathy, and social skills are all part of ___________?
    A) attitudes B) personality C) emotional intelligence D) self-esteem
  3. A(n) __________ is the set of expectations held by employees concerning what they will contribute to an organization and what the organization will provide in return.
    A) employee contract B) contribution C) inducement D) psychological contract
  4. The set of forces that cause people to behave in certain ways is called _____________.
    A) behavior modification B) motivation C) morale D) satisfaction
  5. ___________ is the tendency for productivity to increase when workers believe they are receiving special attention from management.
    A) Behavior modification B) The Hawthorne effect C) Expectancy D) Positive reinforcement
  6. Douglas believes that his employees are self-motivated and growth-oriented. He is a ____________ manager.
    A) Theory Y B) classical C) Theory X D) Hierarchical
  7. Which of the following theories suggest that people are motivated to work toward rewards that they want and that they believe they have a reasonable chance of obtaining?
    A) equity theory B) scientific management C) expectancy theory D) two-factor theory
  8. Leadership ___________.
    A) means the same thing as management B) refers to both processes and behaviors used by someone, monitoring results, and working toward the behavior of others. C) focuses on outlining D) refers to a manager choosing one alternative from among several options
  9. Managers focus on plans, results, and goals, whereas leaders focus on ________.
    A) people B) sales C) profitability D) productivity
  10. Bill Lopez spends most of his time performing normal, routine tasks; he is primarily involved with ________.
    A) situational leadership B) transactional leadership C) problem solving D) transformational leadership
  11. A ________ helps a less experienced person learn the ropes and better prepare him or her to advance within the firm.
    A) neutralizer B) task-focused leader C) charismatic leader D) mentor
  12. Japan is characterized by ________, whereas the United States is based on ________.
    A) leadership traits; leadership behaviors B) ethical leadership; virtual leadership C) individualism; collectivism D) collectivism; individualism
  13. ________ lead for stability; ________ lead for change.
    A) Organizers; managers B) Managers; leaders C) Leaders; predictors D) Leaders; managers
  14. The ________ approach to leadership assumes that appropriate leader behavior varies from one situation to another.
    A) motivation B) situational C) charismatic D) trait
  15. ________ refers to the set of organizational activities directed at attracting, developing, and maintaining an effective workforce.
    A) Production management B) Human resource management C) Development of a mission statement D) Operations management
  16. The evaluation of the duties required by a particular job and the skills required to perform it is referred to as ________.
    A) staffing B) training C) job analysis D) promotion
  17. A ________ is a document outlining the duties of a job, its working conditions, and the tools, materials, and equipment used to perform it.
    A) job specification B) job analysis C) job advertisement D) job description
  18. ________ is the process of attracting qualified people to apply for jobs within an organization.
    A) Recruiting B) Validation C) Selection D) Job analysis
  19. Which of the following is designed to show precisely how well workers are doing their jobs?
    A) a performance appraisal B) MBO C) a vestibule assessment D) a job description
  20. Insurance for compensating workers injured on the job is called ________.
    A) a profit-sharing plan B) a cafeteria plan C) disability insurance D) workers' compensation insurance
  21. A plan in which a certain dollar amount of benefits per employee is set aside so each employee can choose from a variety of alternatives is called a ________.
    A) profit-sharing plan B) gain-sharing plan C) cafeteria benefits plan D) doctrine of employment plan
  22. A group of individuals, working together to achieve shared job-related goals such as higher pay, shorter working hours, greater benefits, or better working conditions is a(n) ________.
    A) labor union B) company hierarchy C) external organization D) management organization
  23. ________ is the ability of a product to satisfy a human want or need.
    A) Value B) Exchange C) Utility D) Differentiation
  24. Products used by companies to produce other products are referred to as ________.
    A) consumer goods B) consumer staples C) substitute products D) industrial goods
  25. Which of the following emphasizes lasting relationships with customers and suppliers?
    A) personal selling B) industrial marketing C) advertising D) relationship marketing
  26. Which of the following types of competition has products that are dissimilar from those of competitors but can fulfill the same need?
    A) substitute products B) international competition C) the marketing mix D) brand competition
  27. The creation of a product or product image that differs enough from existing products to attract consumers is called ________.
    A) consumption B) geographic centralization C) product differentiation D) consumerism
  28. Groups of people with similar wants and needs are ________.
    A) target points B) distribution points C) target markets D) price points
  29. Lifestyles, opinions, interests, and attitudes are referred to as ________.
    A) product use variables B) geographic variables C) psychographic variables D) demographic variables
  30. Consumers exhibit ________ by regularly purchasing products because they are satisfied with their performance.
    A) brand loyalty B) psychological influences C) need recognition D) emotional motives
  31. ________ are inexpensive products that are purchased often and with little expenditure of time and effort.
    A) Convenience goods B) Novelty goods C) Specialty goods D) Shopping goods
  32. ________ are moderately expensive and infrequently purchased.
    A) Specialty goods B) Convenience goods C) Supply goods D) Shopping goods
  33. ________ items are expensive, long-lasting, and infrequently purchased industrial goods.
    A) Convenience B) Expense C) Specialty D) Capital
  34. The group of products that a company makes available for sale, whether consumer, industrial, or both, is known as the company's ________.
    A) product assortment B) product mix C) product line D) product range
  35. The ________ is a series of stages through which a product passes during its commercial life.
    A) profit life stages B) product life cycle C) product life stage D) product profit stage
  36. A promotional tactic for brand exposure in which characters in television, film, music, magazines, or video games use a real product with a brand visible to viewers is called:
    A) brand awareness B) branding C) product placement D) loyalty
  37. ________ is a form of buzz marketing that relies on the Internet to spread information.
    A) Product marketing B) Convenience marketing C) Product marketing D) Viral marketing
  38. When a wholesaler or retailer develops a brand name and has the manufacturer place that name on the product, that product name is a ________ brand.
    A) licensed B) private C) manufacturer D) national
  39. Marketers create ________ utility when they make products available for sale where customers want to purchase them.
    A) premium B) place C) time D) essential
  40. The amount added to a product's cost in order to sell it at a target profit is called ________.
    A) revenue margin B) profit allowance C) profit points D) markup
  41. ________ costs change with the quantity of a product sold or produced.
    A) Annual B) Variable C) Margin D) Fixed
  42. Costs that are unaffected by the quantity of a product sold are ________ costs.
    A) fixed B) selling C) variable D) on-going
  43. Companies use ________ to determine the quantity of a product that must be sold before the seller makes a profit.
    A) breakeven analysis B) penetration pricing C) marginal analysis D) markup pricing
  44. Which of the following is usually associated with odd-even pricing?
    A) market pricing B) price lining C) psychological pricing D) price fixing
  45. Prices like $999.99 and $9.99 reflect ________.
    A) price fixing B) price lining C) market pricing D) odd-even pricing
  46. The ________ is the combination of distribution channels that a firm selects to get a product to end users.
    A) transportation strategy B) distribution mix C) merchandising system D) channel plan
  47. ________ sell products to other businesses, which resell them to final consumers.
    A) Retailers B) Wholesalers C) Advertisers D) Marketers
  48. A distribution channel with no intermediaries is ________.
    A) a quick channel B) a direct channel C) not possible D) very rare
  49. ________ are small retail stores carrying only one product line or category of related products.
    A) Specialty stores B) Supermarkets C) Department stores D) Hypermarkets
  50. ________ is concerned with the most effective techniques for communicating information about and selling a product.
    A) Promotion B) Advertising C) Information D) Communications
  51. ________ is paid, nonpersonal communication, by which an identified sponsor informs an audience about a product.
    A) Promotion B) Sales promotion C) Advertising D) Public relations
  52. ________ are short-term promotional activities designed to stimulate consumer buying or cooperation from distributors, sales agents, or other members of the trade.
    A) Sales promotions B) Special offers C) Movement plans D) Indirect advertising
  53. ________ is information transmitted by the general mass media to attract public attention about a company, a product, or an event.
    A) Publicity B) Advertising C) Sales promotion D) Public relations
  54. Companies often price their products to establish ________, a company's percentage of the total market sales for a specific product type.
    A) market share B) fixed costs C) a breakeven point D) sales percentage
  55. ________ is the recording of financial transactions.
    A) Controlling B) Bookkeeping C) Accounting D) Budgeting
  56. The ________ is a company's chief accounting officer.
    A) budget manager B) controller C) bookkeeper D) auditor
  57. A(n) ________ examines a company's accounting system to determine whether its financial reports fairly present its operations.
    A) audit B) company-wide analysis C) preliminary examination D) portfolio analysis
  58. A(n) ________ is an economic resource that is expected to benefit a firm or individual who owns it.
    A) account B) equity C) asset D) liability
  59. A(n) ________ is a debt owed by a firm to an outside organization or individual.
    A) liability B) account C) equity D) asset
  60. ________ is the amount of money that owners would receive if they sold all of a company's assets and paid all of its liabilities.
    A) Remaining liability B) Owners' equity C) Inventory D) An asset
  61. The financial statement detailing a firm's assets, liabilities, and owners' equity is the ________.
    A) manufacturing statement B) income statement C) balance sheet D) statement of cash flows
  62. Assets that can be converted into cash within the following year are referred to as ________.
    A) liquid assets B) long-term assets C) current assets D) quick assets
  63. ________ are current liabilities consisting of bills owed to suppliers, plus wages and taxes due within the upcoming year.
    A) Accounts receivable B) Marketable securities C) Accounts payable D) Prepaid expenses
  64. ________ represent the total cost of obtaining materials for making the products sold by a firm during the year.
    A) Operating expenses B) Cost of goods sold C) Revenues D) Net profits
  65. Subtracting income taxes from operating income reveals ________.
    A) cash flow B) leverage C) operating income D) net income