Business and Society
Pre-Test Questions
Course Introduction
This course explores the dynamic relationship between businesses and the broader society in which they operate. Students will examine the economic, ethical, social, and environmental responsibilities of businesses, gaining insight into how corporate decisions impact diverse stakeholders including employees, consumers, communities, and the environment. Key topics include corporate social responsibility (CSR), ethical leadership, sustainability, stakeholder management, regulatory frameworks, and the role of business in addressing global challenges. Through case studies, discussions, and real-world examples, students will develop a critical understanding of how businesses can operate responsibly while achieving their organizational goals.
Recommended Textbook
Foundations of Business 6th Edition by William M. Pride
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20 Chapters
3720 Verified Questions
3720 Flashcards
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Chapter 1: Exploring the World of Business and Economics
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Sample Questions
Q1) As Veronica Janneck and her friends prepare to graduate from college,they are faced with numerous job offers with starting salaries better than they could have imagined when they began college four years ago.Based on this information,which stage of the business cycle would the economy be in?
A) Depression
B) Peak
C) Recession
D) Trough
E) Recovery
Answer: B
Q2) Public utilities are often referred to as
A) sole proprietorships.
B) monopolistic competitors.
C) monopolies.
D) oligopolies.
E) socialistic.
Answer: C
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Page 3
Chapter 2: Ethics and Social Responsibility in Business
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282 Flashcards
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Sample Questions
Q1) What are the three major sets of factors believed to affect ethical behavior in an organization?
Answer: Individual factors such as individual knowledge of issues,personal values,and personal goals influence the level of ethical behavior in an organization.Social factors such as cultural norms,actions and decisions of co-workers,significant others,and the use of the Internet affect ethical behavior.Also,the amount of freedom an organization gives an employee to behave unethically affects ethical behavior in an organization.
Q2) The socioeconomic model of social responsibility places primary emphasis on A) quality of life.
B) production.
C) economic return.
D) exploitation of natural resources.
E) profit.
Answer: A
Q3) Customers can't find out which firms are acting responsibly and which are not.
A)True
B)False
Answer: False
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4
Chapter 3: Global Business
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257 Flashcards
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Sample Questions
Q1) Refer to Thomas Bernerd,Inc.Which agency should the managers at Thomas Bernerd,Inc.seek assistance from?
A) GATT
B) Trade Information Center
C) World Trade Association
D) U.S.Export Assistance Centers
E) U.S.and Foreign Commercial Services
Answer: D
Q2) Purchasing products or materials in other nations and bringing them into one's own country is
A) trading.
B) balancing.
C) exporting.
D) importing.
E) dumping.
Answer: D
Q3) Countertrade is losing its importance in international trade.
A)True
B)False
Answer: False
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Chapter 4: Choosing a Form of Business Ownership
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Sample Questions
Q1) When a business incorporates,it receives articles of incorporation from the Internal Revenue Service.
A)True
B)False
Q2) Shares of Sandwich Street stock cannot be purchased on any stock exchange or by just any individual.This means that Burger House is a(n)
A) alien corporation.
B) partnership.
C) open corporation.
D) family corporation.
E) closed corporation.
Q3) Describe the ownership,operation,and size of a sole proprietorship.
Q4) Every partnership must have at least one limited partner.
A)True
B)False
Q5) Since someone must be responsible for a partnership's debts,a limited partnership must have at least one general partner.
A)True
B)False
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Chapter 5: Small Business,Entrepreneurship,and Franchises
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Sample Questions
Q1) Refer to Mc-Queen Chicken.Which of the following would not be an advantage of a franchise?
A) He gains fast and well-controlled distribution.
B) He has more capital available to expand.
C) Outlets are maintained and operated according to a set plan.
D) He has the opportunity to start a business with limited capital.
E) Success will cause another outlet to be opened nearby.
Q2) Refer to Personal Wellness.When Jackie suggested that the company contact a group,what type of group was she referring to?
A) Strategic institute
B) Small-business institute
C) HR institute
D) Management institute
E) Business institute
Q3) Few Americans take advantage of their freedom to start a business.
A)True B)False
Q4) Small businesses are typically managed by people who started and own them. A)True B)False
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Chapter 6: Understanding the Management Process
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Sample Questions
Q1) How would you expect top managers to spend most of their work time?
Q2) Define the aspects of a SWOT analysis and how it can benefit a company.
Q3) ____ is the process of developing a set of possible alternative solutions and choosing one alternative from among that set.
A) Decision making
B) Leadership
C) Implementing
D) Leading and motivating
E) Evaluating and regulating
Q4) Digital communications are used by managers
A) to manage an organization effectively and to stay informed.
B) to eavesdrop on employees.
C) to track company vehicles to prevent employees from loitering.
D) to prevent theft of company property.
Q5) Interpersonal skills permit successful managers the ability to deal effectively with other people
A) both inside and outside the organization.
B) within the organization.
C) outside the organization.
D) in other organizations.
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Chapter 7: Creating a Flexible Organization
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Sample Questions
Q1) Why is it important that owners and managers pay close attention to corporate culture when merging two organizations?
Q2) What does it mean for a manager to have a wide span of control? Would you expect the span of control to be wide or narrow when subordinates are highly trained professionals? Support your answer.
Q3) In an organization with a ____,a manager is most likely to spend considerable time supervising and working with employees.
A) flat organizational width and a wide height span
B) narrow span of control and a tall organizational height
C) flat organizational height and a wide span of control
D) wide span of control and a tall organizational height
E) narrow span of control and a flat organizational height
Q4) One's duty to do a job or perform a task is called
A) authority.
B) accountability.
C) responsibility.
D) delegation.
E) obligation.
Q5) What are the benefits of job rotation?
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Chapter 8: Producing Quality Goods and Services
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Sample Questions
Q1) Compare and contrast the ideas of labor-intensive and capital-intensive technology.
Q2) _____ are used to assemble machinery,weld joints,and a variety of other tasks by manipulating materials and tools.
A) robots
B) tools
C) droids
D) computer-aided design machines
Q3) When Company Tech decides to produce a new product line and determines the desired capacity and use of technology,the next step is to
A) decide how big to build the new factory.
B) hire new workers for the facility.
C) decide whether to build a new plant or refurbish an existing plant.
D) determine which of the company's existing plants is best suited to produce the new product.
E) determine what the magnitude of the conversion process will be.
Q4) Productivity is a measure of output per unit of time per worker.
A)True
B)False
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Chapter 9: Attracting and Retaining the Best Employees
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Sample Questions
Q1) Performance appraisal is the evaluation of an employee's current and potential levels of performance within a firm.
A)True
B)False
Q2) Over the years,EnterBank management has successfully used the process of preparing managers and other professionals to assume increased responsibility in present and future positions.This practice is referred to as
A) employee training.
B) simulation training.
C) job orientation.
D) skills inventorying.
E) management development.
Q3) Define the concept of comparable worth.What do critics say about comparable worth?
Q4) The results of an evaluation should be discussed with an employee soon after the evaluation is completed.
A)True
B)False
Q5) What is cultural diversity,and why is it an important issue?
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Chapter 10: Motivating and Satisfying Employees
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Sample Questions
Q1) Michael discovers that his mortgage company's employees are working very slowly because they are afraid that,if they finish the loans they are currently processing,they will run out of work and lose their jobs.Michael's employees are
A) displaying laziness.
B) soldiering.
C) suffering from low morale.
D) inexperienced.
E) unqualified for their jobs.
Q2) The equity theory of motivation is based on the premise that people are motivated first by rewards and then by achievement.
A)True
B)False
Q3) In the first set of Hawthorne experiments dealing with lighting,the main conclusion was that
A) the pressure of social acceptance affects production.
B) a sense of involvement affects production.
C) variations in lighting affect production.
D) the piece-rate method affects production.
E) only the amount of pay affects production.
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Page 12
Chapter 11: Building Customer Relationships Through Effective Marketing
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217 Verified Questions
217 Flashcards
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Sample Questions
Q1) David is a computer programmer for a large business-to-business firm.His project manager recently tasked him with developing a program that will continually collect data from internal sources including sales figures,product and marketing costs,inventory levels,and activities of the sales force as well from external sources from and about suppliers,intermediaries,and customers.He has been informed that the program will be used by his firm and will be sold to clients to make marketing decisions.Which of the following best describes the purpose of David's program?
A) He is developing a program for a marketing information system.
B) He is writing a program for a data mining system.
C) He is using "big data analytics."
D) He is developing a program for marketing research.
Q2) No product can be marketed successfully by using the undifferentiated approach.
A)True
B)False
Q3) Market segmentation means dividing consumers according to their wants,income,and geographic location.
A)True
B)False
Q4) What are the major forces in the marketing environment?
Page 13
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Chapter 12: Creating and Pricing Products That Satisfy Customers
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281 Flashcards
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Sample Questions
Q1) Give the characteristics of shopping products,specialty products,and convenience products.Illustrate those characteristics with examples of products that fit the categories.
Q2) Price competition occurs when a seller emphasizes the A) low price of a product.
B) high price of a product.
C) quality of a product.
D) quality of the customer service.
E) importance of the product.
Q3) A brand that is owned by a producer is called a
A) store brand.
B) generic mark.
C) manufacturer brand.
D) private brand.
E) dealer brand.
Q4) The sum of the fixed costs and the variable costs attributed to the units produced is the selling price.
A)True
B)False
Q5) What is brand equity? Describe the major factors that make up brand equity.
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Chapter 13: Distributing and Promoting Products
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Sample Questions
Q1) In a typical day working for Coors Brewing,Julio will deliver beer,restock shelves,clear out old beer,take orders for the next day's delivery,and set up promotional displays.Julio is both a ____ and an ____.
A) missionary salesperson;order getter
B) trade salesperson;order taker
C) technical salesperson;order getter
D) trade salesperson;order getter
E) missionary salesperson;order taker
Q2) Why would a marketer identify and analyze the target audience before defining the advertising objectives when developing an advertising campaign?
Q3) Refer to DME Ads Inc.Which of the following terms refers to the type of advertising DME would use to increase the demand for all brands of a product within a specific industry?
A) Brand advertising
B) Selective-demand advertising
C) Corporate advertising
D) Primary-demand advertising
E) Institutional advertising
Q4) What types of public-relations tools can organizations use?
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Chapter 14: Exploring Social Media and E-Business
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154 Flashcards
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Sample Questions
Q1) Refer to Abroad Standard,Inc.Ronald suggested that the company ____ part of production.
A) import
B) export
C) outsource
D) supply-chain
E) barter
Q2) Provide at least two examples of how crowdsourcing can be used by a company.Be specific and provide realistic scenarios.
Q3) All social media plans have a defined,clear start and stop date.
A)True
B)False
Q4) When designing a social media plan,businesses generally assume
A) social media is not free and can be quite expensive.
B) social media is free.
C) using social media is so easy a child can do it.
D) using social media effectively for marketing is not free but does not require expertise
Q5) What is inbound marketing? Mention at least four tools of inbound marketing.
Q6) Describe the internal and external forces that affect e-business.
Page 16
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Chapter 15: Using Management and Accounting Information
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Sample Questions
Q1) Since furniture and store equipment for Billy's Boutique will be held or used for a period longer than one year,they are considered
A) fixed assets.
B) owners' equity.
C) revenue.
D) current assets.
E) prepaid expenses.
Q2) Since business has been rapidly expanding,A Shot of Sugar Bakery decides to purchase a second industrial oven.The cash paid for this oven would be listed in the ____ section of the statement of cash flows.
A) operating
B) purchasing
C) investing
D) financing
E) business
Q3) According to the accounting equation,cash,inventory,equipment,and real estate are classified as owners' equity.
A)True
B)False
Page 17
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Chapter 16: Mastering Financial Management
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Sample Questions
Q1) Commercial paper is short-term promissory notes issued by large corporations.
A)True
B)False
Q2) A firm with questionable credit should expect to pay the prime interest rate minus 2 percent.
A)True
B)False
Q3) A promissory note that requires a borrower to repay funds in installments is called a(n)
A) term-loan agreement.
B) installment plan.
C) lease.
D) mortgage.
E) annuity loan agreement.
Q4) Common stockholders have the right to ___,but preferred stockholders do not have this right.
A) vote
B) buy stock
C) dividends
D) sell their stock
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Chapter 17: Understanding Personal Finances and Investments
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Sample Questions
Q1) Which of the following best describes corporate bonds?
A) Short-term debt financing
B) Bank account
C) Long-term equity financing
D) Long-term debt financing
E) Short-term equity financing
Q2) Which of the following is not one of the types of bonds issued by the U.S.federal government?
A) Treasury notes
B) Savings bonds
C) Treasury municipals
D) Treasury bills
Q3) Barry Ferrell has a monthly income of $2,500.His monthly expenses are $2,000.What amount is recommended for someone in Barry's situation to set aside to establish an emergency fund?
A) $2,000
B) $2,500
C) $7,500
D) $6,000
E) $1,500
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Chapter 18: Enhancing Union-Management Relations
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Sample Questions
Q1) The overriding theme in strategic union-management partnerships is that
A) they focus on cooperative relationships,working together,and joint decision making.
B) they benefit the unions more than the members they represent.
C) the unions become a weaker part of the decision-making process because their members,employees of the companies,are given more empowerment in the process.
D) they are concerned more about arguing over contractual rights than working toward mutual gain.
E) unions and management argue on a broad array of issues,such as performance expectations and organizational structure,and they most often disagree because they have different sets of goals in mind.
Q2) Which of the following best describes the goals of The Knights of Labor?
A) Elimination of unions
B) Use of the strike weapon
C) Strongly supporting mass-production technology because of its positive effect on workers
D) Overthrow capitalism for a better system
E) Attempting both social and moral reform among employees
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Chapter 19: Risk Management and Insurance
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Sample Questions
Q1) What is the purpose of business liability coverage?
A) Protect the policy holder from losses due to injury to another person or another person's property
B) Protect the business from embezzlement by an employee
C) Protect the business from damage due to fire or flood
D) Protect the business from losses due to negligence by a public employee
Q2) Who is responsible for paying the premiums for unemployment insurance coverage that covers eligible unemployed workers?
A) The federal government
B) State governments
C) Employees
D) Employers
E) Both employees and employers
Q3) Which of the following is not an insurable loss?
A) A loss due to a windstorm
B) A loss of a key executive
C) An undeterminable or unpredictable loss
D) A measurable loss of property
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Chapter 20: Business Law regulation and Taxation
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Sample Questions
Q1) What is the name given to laws enacted by legislative bodies?
A) Statutory
B) Administrative
C) Common
D) Federal
Q2) Which of the following entities creates statutes?
A) Judges
B) Presidents
C) Congress
D) Government agencies
Q3) What is the name given to an agreement that results from the actions of the parties rather than an exchange of specific promises?
A) Express contract
B) Void contract
C) Implied contract
D) Unenforceable contract
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Page 22