Homework answers / question archive / Louisiana College - BUSINESS 101  Quiz 2 (Chapters 1 and 2)      Question1)Chris chooses to work only thirty hours a week as an engineering assistant while trying to shield himself from additional responsibilities at work

Louisiana College - BUSINESS 101  Quiz 2 (Chapters 1 and 2)      Question1)Chris chooses to work only thirty hours a week as an engineering assistant while trying to shield himself from additional responsibilities at work

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Louisiana College - BUSINESS 101

 Quiz 2 (Chapters 1 and 2)     

Question1)Chris chooses to work only thirty hours a week as an engineering assistant while trying to shield himself from additional responsibilities at work. Chris seems to value

	A.	the opportunity to help others.
	B.	promotions and transfers.
	C.	recognition and rewards.
	D.	get-rich-quick schemes.
	E.	more free time.

Question 2     

When a firm's expenses are greater than its sales revenue, the firm has a...

	A.	loss.
	B.	profit.
	C.	recession.
	D.	negative cash flow.
	E.	depression.

Question 3     

Organizations that combine raw materials, machinery, and labor to produce goods are called

	A.	merchandisers.
	B.	service businesses.
	C.	processors.
	D.	manufacturing businesses.
	E.	market intermediaries.

Question 4     

Which of the following companies is an example of a manufacturer?

	A.	AIG
	B.	Broadcast.com
	C.	Walmart
	D.	Best Buy
	E.	Intel

Question 5     

Tom Watson decides to start a residential landscaping business. How would this business most likely be classified?

	A.	Marketing intermediary
	B.	Corporation
	C.	Nonprofit organization
	D.	Service business
	E.	Manufacturing business

Question 6     

At the end of the year, an individual, small business owner has made $65,000 in profit. Who does that profit belong to?

	A.	All employees of the small business
	B.	The company's CEO and top managers
	C.	The consumers of the business’ products
	D.	The banks from which the business borrowed money
	E.	The owner of the business

Question 7     

When economists study the national economy or global economy, they are using a ____ approach.

	A.	macroeconomics
	B.	fiscal
	C.	microeconomics
	D.	intuitive
	E.	monetary

Question 8     

Microeconomics is the study of...

	A.	the entire U.S. economy.
	B.	productivity in other countries.
	C.	the decisions made by individuals.
	D.	the national unemployment rate.
	E.	global economies.

Question 9     

Ed works in a position where there is very little supervision. In fact, although he considers himself ethical, he figures he could go away for a week without anyone noticing. Which general set of factors is most likely to influence Ed's ethical behavior?

	A.	Social
	B.	Moral
	C.	Circumstantial
	D.	Individual
	E.	Opportunity

Question 10     

At Ledbetter Industries, employees are allowed one-hour lunches, but it has become common that most stroll back fifteen minutes late every day. The factor affecting the ethical behavior of Ledbetter's employees is...

	A.	whistle-blowing.
	B.	social.
	C.	code of ethics.
	D.	individual.
	E.	opportunity.

Question 11     

All of the following are factors that affect the level of ethical behavior in an organization except...

	A.	social factors.
	B.	moral values.
	C.	opportunity.
	D.	individual factors.
	E.	demographic factors.

Question 12     

What is probably the most effective way for a company to encourage ethical behavior?

	A.	Post signs discouraging sexual harassment and discrimination.
	B.	Develop and enforce a written code of ethics for the organization.
	C.	Hire employees who are ethical and in agreement with the company's views.
	D.	Threaten employees with immediate termination for unethical behavior.
	E.	Have ethics training sessions for interested employees.

Question 13     

Suppose a manager at the Rolodex Corporation has recently become aware that employees are taking office supplies home and taking longer coffee and lunch breaks than the personnel policy allows. The manager finds these are widespread practices and wants to solve the problem. The best way to do this would be to...

	A.	change the code of ethics in the personnel policy manual to prohibit these practices.
	B.	call the police and arrest both the "time" thieves and the office supplies thieves.
	C.	let the union know about the problem during next year's pay negotiations.
	D.	make the corporate culture encourage more ethical behavior.
	E.	fire all those who have taken office supplies, and suspend those who have taken too much time.

Question 14     

Tom stormed into the office, exclaiming, "That's the last straw! I've experienced unethical behavior at this company one time too many. I'll be calling the press immediately." It appears that Tom is about to engage in...

	A.	trumpeting.
	B.	corporate ethics.
	C.	whistle-blowing.
	D.	whistling.
	E.	an unethical practice.

Question 15     

Which of the following scenarios provides the best example of whistle-blowing?

	A.	William gives an interview on NBC's Dateline about the opportunities available at his company.
	B.	Christine tells her husband about illegal environmental dumping she suspects her company is doing.
	C.	Geena speaks to her boss about how uncomfortable she is with the sexual jokes one of her coworkers frequently tells at the office.
	D.	Marie has grown tired of her company's unsafe practices and reports them to OSHA, a governmental agency that regulates safety.
	E.	Jonathon fails to meet his sales quota for the month and is reported to the regional manager for special review.

Question 16     

The recognition that business activities affect society and the consideration of that impact when making business decisions is referred to as

	A.	code of ethics.
	B.	corporate ethics.
	C.	business ethics.
	D.	social responsibility.
	E.	community responsibility.

Question 17     

MasterCard sends a customer a memo that discloses the true cost of borrowing with each billing statement. It does this because it realizes that the customer has the right to

	A.	choose.
	B.	be heard.
	C.	be informed.
	D.	safety.
	E.	obtain credit.

Question 18     

 

Excellent Air Incorporated (EAI)

Excellent Air Inc. is a well-known establishment in the airline business. It is currently one of the top firms in the industry. The company prides itself on good customer service and being concerned with the broader societal good. EAI management is not only concerned with doing things right, but also with doing the right things. Many of their decisions reflect this philosophy. Initially, the company had a problem with employees reporting their suspicions about unethical behavior to the press instead of to EAI management. As a result, the company made sure its employees knew the firm's guidelines on fixing ethical issues. EAI also developed a code of conduct based on standards that continue to be upheld within the company. Since the code of conduct has been put in place, there have been much fewer ethical violations.

 

Although employee salaries at EAI are not as high as those at competing firms, the company experiences very low employee turnover. The firm has created a corporate culture that not only makes its employees want to stay, but that also results in higher profits. If EAI can maintain the relationship it has built with its employees and customers, it will have little difficulty keeping up its remarkable success.  The principles that EAI chooses to pride itself on show that the company has...

 

	A.	social responsibility.
	B.	cultural diversity.
	C.	caveat emptor.
	D.	a social audit.
	E.	a moral minority.

Question 19     

Satellite Communications

Jonathan worked for Satellite Communications for twenty years. In the time that he worked there, he learned a lot about the company and how it operated. The company met its sales and revenue goals every year. However, most of the employees had similar educational and cultural backgrounds. He believed that the company could do much better if it cultivated an environment that promoted many different ideas. Additionally, Satellite Communications was mostly focused on how much revenue it earned in a given year. Jonathan felt that the most important goal should be to satisfy customers. He believed financial success would result from focusing on customers.

After a lot of consideration, Jonathan decided to open his own business called Universal Communications and hire employees that reflected a more diverse customer base. He was happy to have this opportunity because it was a dream that he had always had. He had always wanted to make his own decisions about what his company would produce and how. The only aspect of the business he was unsure of was pricing, yet he knew this would be important for his ultimate success.  Jonathan is operating in a ____ because he has the opportunity to decide what and how to do things.

	A.	command economy
	B.	mixed economy
	C.	free-enterprise system
	D.	split economy

Question 20     

 

Refer  Refer to the earlier question about Satellite Communications. When hiring people, Jonathan thinks it is important to consider...

	A.	profit.
	B.	cultural diversity.
	C.	health benefits.
	D.	wage increases.