QUESTION Carl’s Clunkers used to be the only used car dealership near campus until ReRevved Engines opened a few months ago. The competition between dealerships is a(n) ________. a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER c
Date: September 3rd, 2020
QUESTION A(n) ________ invests money in a partnership, but is liable only to the extent of his/her investment. a. agent b. general partner c. limited partner d. officer ANSWER c
Date: September 3rd, 2020
QUESTION American Business Machines is organized as a corporation. Its income will be taxed first at the corporate level and also on shareholder returns as dividends. This situation is known as ________. a. double taxation b. dual costs c. regulatory costs d. dual taxation ANSWER a
Date: September 3rd, 2020
QUESTION What term describes the level of competition in which only a few businesses make up an industry and have control over the price of their product? a. monopoly b. monopolistic competition c. oligopoly d. perfect competition ANSWER c
Date: September 3rd, 2020
QUESTION Employees expect to receive certain things that do not create happiness, yet a company’s lack of these things would eventually create dissatisfaction. These rewards are called _______. a. self-actualizers b. task identities c. hygiene factors d. motivators ANSWER c
Date: September 3rd, 2020
QUESTION Choosing fiber paperboard instead of plastic for a supermarket product’s wrapping is an example of ____________________ packaging. Fill in the blank(s) with correct word ANSWER “green”
Date: September 3rd, 2020
QUESTION Which competitive strategy would NOT be used by a business in an oligopoly? a. lowering prices b. advertising to attract customers c. differentiating product d. preventing new entrants into the market ANSWER a
Date: September 3rd, 2020
QUESTION People who enjoy the things they get as a result of doing the work are motivated by ________ factors. a. neither intrinsic nor extrinsic b. both intrinsic and extrinsic c. extrinsic d. intrinsic ANSWER c
Date: September 3rd, 2020
QUESTION The employees in your company are not working in a way that supports the vision statement. As a transformational leader, what should you do? What will be an ideal response? ANSWER Leaders need to know how to lead change and influence reaction to change. Instill confidence. Help others accept change. Avoid the pitfalls […]
Date: September 3rd, 2020
QUESTION When the band Radiohead offered their album to customers for whatever price those customers wanted to pay for it and some customers received the album for free, this was an example of _______________________. Fill in the blank(s) with correct word ANSWER customer-driven pricing
Date: September 3rd, 2020
