managment Question bank

managment Question bank

Question

45.

Explain time studies.

46.

Explain time and motion studies.

47.

Who is Henri Fayol and what did he contribute to the field of management?

48.

What is the difference between “unity of command” and “unity of direction”?

49.

Name 5 principles of management as identified by Fayol?

50.

What is an initiative, according to the principles of management as created by Fayol?

51.

What is Taylorism?

52.

Why did the work of Fayol, Taylor and the Gilbreths become less effective over time?

53.

Who was Peter Drucker?

54.

What is the difference in the early view and modern view of manager-as-leader?

55.

How do Peters and Waterman describe the principle of Hands-On, Value-Driven?

56.

Companies use social networking systems internally to help their employees identify new ideas.

A)

True

B)

False

57.

The use of online social networking principles can open the door to outside collaborations.

A)

True

B)

False

58.

In a learning organization, sharing knowledge quickly throughout the organization is the way to make everyone a smart, contributing member.

A)

True

B)

False

59.

One-on-one communication in a virtual organization is preferable because it keeps everyone up to speed and promotes learning across the organization.

A)

True

B)

False

60.

Wikis let people contribute to a project anytime.

A)

True

B)

False

61.

The term social movement refers to a type of group that:

A)

Imitates corporations to improve employee morale in organizations

B)

Is focused on specific political or social issues

C)

Mimic society

D)

Performs activities outside the workplace

62.

Just as companies are outsourcing specific jobs, so social movements can:

A)

Hire outsourced employees

B)

Outsource employees

C)

Contract out projects

D)

Contract out tasks like lobbying and fundraising

63.

In the corporate world, social networks are starting points for corporate innovation:

A)

Building relationships between managers and employees

B)

Improving policies on sick leave and other benefits

C)

Bringing limitless arrangements of individuals inspired by opportunities or tasks

D)

Building diversity among the workforce

64.

Some companies maintain a physical presence on Facebook because:

A)

Everyone else does

B)

It allows consumers to chime in about their passions

C)

Their employees insist the organizations have a presence on Facebook

D)

Their regular marketing needs are not met

65.

In the information age, what do social networks do best?

A)

Share customers

B)

Promote products

C)

Allow employees to build relationships

D)

Create secure sites for employees to collaborate on projects

66.

How did Netflix use social networking principles to improve efficiency?

A)

Netflix improved algorithms that match movie lovers to titles they enjoy

B)

Netflix matched individual employees to customers

C)

Netflix hired inventors from outside the company

D)

Netflix offered rewards for the best ideas in improving efficiency

67.

A way to test ideas in small steps is:

A)

Experimentation

B)

Learning from past experience

C)

Learning from others

D)

Transferring knowledge

68.

The company that relies on computer and telecommunications technologies instead of physical presence for communication between employees is a:

A)

Learning organization

B)

Social organization

C)

Service organization

D)

Virtual organization

69.

Virtual companies present special leadership challenges because:

A)

Emails, wikis and web meetings require special technological know how

B)

Employees are located in the same city but just not at one location

C)

Communication is not the most important aspect of the organization

D)

It's essential for leaders to keep people informed of what they are supposed to be doing and what other arms of the organization are doing.

70.

Leaders of social movements depend on ________ rather than _________ to motivate participants to action.

71.

___________ refers to systems that allow members of a specific site to learn about other members' skills, talents, knowledge, or preferences.

72.

In the corporate world, a social network is made up of individuals who share a(an) ______________ and other interests.

73.

______________ is an organization skilled at creating, acquiring, and transferring knowledge, and at modifying its behavior to reflect new knowledge and insights.

74.

_____________ infers that a company must have a consistent method for solving problems, using data and statistical tools rather than assumptions.

75.

In a learning organization, sharing ____________ throughout the organization is the way to make everyone a smart, contributing member.

76.

An organization where employees work remotely, sometimes within the same city, but more often across a country and across national borders is called a(n) __________________.

77.

A _________ is a way for many people to collaborate and contribute to an online document or discussion.

78.

The most famous wiki is _____________.

79.

What is social networking in the corporate world?

80.

Why was Facebook started?

81.

Why do some companies maintain a physical presence on Facebook?

82.

How are companies applying online the social networking model?

83.

Why do virtual organizations present special leadership challenges?

84.

What benefits do Wikis provide companies?

85.

Many nations have signed the Kyoto Protocol on climate change and pledged to begin the long process of reducing greenhouse gas emissions.

A)

True

B)

False

86.

Executives across the world believe that business has a responsibility to address issues like environmental concerns only so far as the law requires .

A)

True

B)

False

87.

The field of transportation and shipping has now required employees to know science and math.

A)

True

B)

False

88.

Organizations and social movements alike are using wikis to help people find others with the skills and talents to solve pressing problems.

A)

True

B)

False

89.

By the end of 2008, 60% of the world's population was using mobile phones.

A)

True

B)

False

90.

The low cost of computers compared to phones puts them in the hands of more people around the world.

A)

True

B)

False

91.

The fastest phone growth is in developing countries.

A)

True

B)

False

92.

In some countries, it is considered rude to say “no”.

A)

True

B)

False

93.

In countries like Russia and Greece, family and background count for more than performance does.

A)

True

B)

False

94.

Why are employees today in the transportation and shipping industry required to know advanced math?

A)

They're called upon to do mathematical models of networks

B)

They're called upon to figure out warehousing

C)

They're called upon to deliver products to other countries

D)

They're no longer called knuckle-dragging box pushers

95.

What kind of expertise do supply chain masters need at Intel?

A)

Science, communication, engineering

B)

Statistics, risk management and modeling

C)

Transportation planning, green energy, and global supply

D)

Math, science and engineering

96.

The penetration of mobile phones is changing the way we do business because:

A)

The cost of phones is low

B)

Increasing sophistication of phones

C)

We can send text instead of voice

D)

People are more connected and able to share more information

97.

OhmyNews is a popular newspaper that:

A)

Is written by 60 citizen reporters

B)

Is written by 60,000 citizen reporters

C)

Is written by 600 citizen reporters

D)

Is written by 6 citizen reporters

98.

Working with people from different countries can be a challenge because of:

A)

Language issues and different cultural norms

B)

Cross-cultural misunderstandings

C)

Different work skills according to cultural norms

D)

Global strategic communication

99.

The GLOBE project describes a project that includes all EXCEPT:

A)

Included 170 researches working together

B)

Collected attributes from over 17,000 managers

C)

Collected data in 62 societal cultures

D)

Proposed and validated a theory of relationship between culture and government

100.

______________ is leading to failing crops, rising sea levels, shortages of drinking water, and increasing death tolls from outbreaks of disease like malaria and dengue fever.

101.

Currently there are ______ nations that have signed the Kyoto Protocol.

102.

___________ is a term that means to pretend to be green through tiny steps and heavy advertising.

103.

The field of transportation and shipping has become known as _____________.

104.

By the mid 2008, more than _______ people were online, and that number continues to increase each year.

105.

The __________ gives managers the tools to help problems find solutions, customers find suppliers, and innovators find markets.

106.

Organizations and social movements alike are using ________ to help people find others with the skills and talents to solve pressing problems.

107.

By the end of 2008, _______ of the world's population were using mobile phones.

108.

By the end of 2008, ________ people in the world were using mobile phones.

109.

In South Africa, _______ of small black-owned businesses rely solely on mobile phones.

110.

OhmyNews is a popular newspaper written by __________ contributing citizen reporters.

111.

Some experts have argued that most U.S. companies are not positioned to implement global strategies due to a lack of global ____________ capabilities.

112.

___________ reflects the extent to which members of a society attempt to cope with anxiety by minimizing uncertainty.

113.

According to McKinsey's global survey of trends, business executives think that which trend will have the greatest impact on their companies in the next five years?

114.

How has the field of transportation and shipping changed the demands on employees?

115.

What is an e-lance economy?

116.

What does mobile connectivity mean to the work place?

117.

Why is the MIT-based Vehicle Design Summit virtual?

118.

Should you reward people for performance improvement and excellence in the United States the same way you reward in Singapore?

119.

Briefly identify the nine dimensions of culture identified by the 2006 GLOBE report?

120.

Should an employer establish rules, procedures and social norms to help their employees deal with uncertainty?

121.

Countries where uncertainty avoidance is high are Brazil and Switzerland.

A)

True

B)

False

122.

In highly assertive countries, competition between individuals and groups is discouraged.

A)

True

B)

False

123.

The United States and Austria are highly assertive countries.

A)

True

B)

False

124.

Sweden and New Zealand are high assertive countries.

A)

True

B)

False

125.

In high power distance countries, decision-making power is distributed equally among the groups.

A)

True

B)

False

126.

People in positions of authority in high power distance societies expect obedience.

A)

True

B)

False

127.

Countries with low gender egalitarianism are male-dominated.

A)

True

B)

False

128.

Countries with low institutional collectivism emphasize individual achievement and rewards.

A)

True

B)

False

129.

People in societies where uncertainty avoidance is high want:

A)

Are less rule-oriented

B)

Tolerate a variety of opinions

C)

Are open to change and taking risks

D)

Want strict rules, laws and policies

130.

People, in societies where assertiveness is low:

A)

Prefer harmony in relationships

B)

Want to be rewarded for the best ideas

C)

Are encouraged to compete among themselves

D)

Take risks more often

131.

People in high-power distance societies expect:

A)

Cooperative interaction across power levels

B)

Equality

C)

Opportunity for everyone

D)

Unequal power distribution and greater stratification

132.

In countries with low institutional collectivism:

A)

Emphasize individual achievement

B)

Reward groups rather than individuals

C)

Tolerate diversity of ideas

D)

Encourage hierarchical decision-making

133.

Company structures which are hierarchical and decisions are made only by top managers represent:

A)

High on power distance dimensions

B)

Low on power distance dimensions

C)

High on institutional collectivism

D)

Low on institutional collectivism

134.

_____________ reflects the extent to which members of a society attempt to cope with anxiety by minimizing uncertainty.

135.

Hong Kong and Malaysia are countries with ____________ uncertainty avoidance.

136.

Sweden and New Zealand are ________ assertive countries.

137.

People in low assertive countries prefer harmony in _____________ and emphasize loyalty and solidarity.

138.

______________ reflects the extent to which the less powerful members of institutions and organizations expect and accept that power is distributed unequally.

139.

Thailand, Brazil, and France are countries which reflect____________ power distance.

140.

Egypt and South Korea are countries with __________ gender egalitarianism.

141.

________________ refers to the extent to which people act predominantly as a member of a life-long group or organization.

142.

The United States is a country with ________ institutional collectivism.

143.

_____________ is defined as one's expectations and the degree to which one is thoughtful about the future.

144.

China and Singapore are countries with __________ future orientation.

145.

Mexico ranks _________ on the power distance dimension than the U.S.

146.

What kind of incentives do managers offer for employees in countries where competition between individuals and groups is encouraged?

147.

What do people in Australia expect in their workplace because of their power distance rating?

148.

What differences might you expect as a manager in a society with low gender egalitarianism?

149.

Should you reward people for being fair, altruistic, generous, and kind to others?

150.

Explain the multifaceted concept of future orientation.

151.

What was the cause of the failure of the joint venture between the American company Corning and the Mexican glass manufacturer Vitro?

152.

What does a global manager need to know in order to be successful?

153.

People who behave unethically have a character flaw.

A)

True

B)

False

154.

Leaders of an organization set the moral tone of the organization.

A)

True

B)

False

155.

Ethics implies deciding on a course of action when clear decision rules are available.

A)

True

B)

False

156.

The ________________ sought to reform corporate governance practices in large U.S. public companies.

157.

One way to tackle ethical dilemmas is to follow a(an) _________________ process.

158.

A global study of business ethics, published by the American Management Association found what three reasons for a lapse of business ethics?

159.

What is the purpose of the Sarbanes-Oxley Act?

160.

What is the importance of ethical behavior among managers in an organization?

161.

What are the steps to ethical decision-making?

saint MBA565 quiz 6

saint MBA565 quiz 6

Question

1.A(n) ________ appeal elaborates on a non-product-related benefit or image when advertising a product or service. (Points : 5)

informational
destructive
involving
creative
transformational

Question 2. 2.One of the advantages of television is that it combines sight, sound, and motion, appealing to the senses, high attention, and high reach. One of the disadvantages of television is its ________. (Points : 5)

use of the "remote control" to zap through commercials
high clutter
cable channels
fragmented markets
censorship possibilities

Question 3. 3.________ is the specialized knowledge that the communicator possesses to back the advertising claim. (Points : 5)

Likeability
Source
Expertise
Trustworthiness
Faith

Question 4. 4.Effective salespeople have more than instinct; they are trained in methods of ________ and ________. (Points : 5)

profitability; analysis
analysis; customer management
customer management; time management
pricing; time management
time; territory management

Question 5. 5.The most important source of information about reps is sales reports. Sales reports are divided between activity plans and ________. (Points : 5)

call reports
written objectives
daily plans of action
activity reports
write-ups of activity results

Question 6. 6.Messages delivered by attractive or popular sources can potentially achieve higher attention and recall. What is important is the spokesperson's credibility. Source credibility consists of trustworthiness, likability, and ________. (Points : 5)

celebrity status
experience
expertise
age
reputation

Question 7. 7.Direct-mail prospects can be identified on the basis of such variables as age, sex, income, education and ________. (Points : 5)

banking practices
previous mail-order purchases
previous purchases
response to mail-order catalogs
telemarketing response

Question 8. 8.The main advantage of nontraditional media is that a very precise and-because of the nature of the setting involved-captive audience often can be reached in a ________ manner. (Points : 5)

new
effective
cost-effective
targeted
individualized

Question 9. 9.Personal communications channels derive their effectiveness through ________ presentation and feedback. (Points : 5)

effective
group
canned
individualized
persuasion

Question 10. 10.The ________ involves correlating past sales to past advertising expenditures using advanced statistical techniques in an effort to measure the sales impact of a given promotional campaign. (Points : 5)

historical approach
experimental design approach
humanist approach
target exposure rate approach
pulsing approach

Question 11. 11.When a relationship management program is properly implemented, the organization will begin to focus as much on managing its customers as on managing its ________. (Points : 5)

finances
products
personnel
markets
brands

Question 12. 12.Sales promotions tools offer three distinctive benefits to marketers. Among these benefits are communication, invitation, and ________. (Points : 5)

credibility
impersonality
exclusion
inclusion
incentive

Question 13. 13.An effectively trained company sales force can make four important contributions: enthusiasm building, missionary selling, key account management, and ________. (Points : 5)

customer contacts
relationship selling
direct sales contacts
increased stock position
account management

Question 14. 14.Companies must consider several factors in developing their communications mix: type of product market, consumer readiness to make a purchase, and the stage in the ________. (Points : 5)

product life cycle
marketing mix
advertising mix
buying process
none of the above

Question 15. 15.Marketing managers must prepare implementation and control plans that cover the various elements of the sales promotion program. ________ is the time necessary to prepare the program prior to launching it. (Points : 5)

Sell-in time
Pretesting
Duration
Lead time
Forwarding

Question 16. 16.Marketing functions must be coordinated to ensure ________ among communications tools. (Points : 5)

significant costs
power
importance
incremental costs
substitutability

Question 17. 17.Salespeople need to know how to recognize closing signs from the buyer, including physical actions, statements or comments, and ________. (Points : 5)

products
questions
concerns
actions
objections

Question 18. 18.Call centers that initiate calls to prospects and customers are called _________. (Points : 5)

teleprospecting
telesales
telecoverage
outbound telemarketing
inbound telemarketing

Question 19. 19.Advertising objectives can be classified according to whether their aim is to inform, persuade, remind, or ________. (Points : 5)

create interest
purchase
create demand
reinforce
introduce

Question 20. 20.Marketers are using creative and unexpected ad placements to grab consumers' attentions in ________ advertising. (Points : 5)

market-specific
customer-specific
space
nontraditional
place

1.A(n) ________ appeal elaborates on a non-product-related benefit or image when advertising a product or service. (Points : 5)

informational
destructive
involving
creative
transformational

Question 2. 2.One of the advantages of television is that it combines sight, sound, and motion, appealing to the senses, high attention, and high reach. One of the disadvantages of television is its ________. (Points : 5)

use of the "remote control" to zap through commercials
high clutter
cable channels
fragmented markets
censorship possibilities

Question 3. 3.________ is the specialized knowledge that the communicator possesses to back the advertising claim. (Points : 5)

Likeability
Source
Expertise
Trustworthiness
Faith

Question 4. 4.Effective salespeople have more than instinct; they are trained in methods of ________ and ________. (Points : 5)

profitability; analysis
analysis; customer management
customer management; time management
pricing; time management
time; territory management

Question 5. 5.The most important source of information about reps is sales reports. Sales reports are divided between activity plans and ________. (Points : 5)

call reports
written objectives
daily plans of action
activity reports
write-ups of activity results

Question 6. 6.Messages delivered by attractive or popular sources can potentially achieve higher attention and recall. What is important is the spokesperson's credibility. Source credibility consists of trustworthiness, likability, and ________. (Points : 5)

celebrity status
experience
expertise
age
reputation

Question 7. 7.Direct-mail prospects can be identified on the basis of such variables as age, sex, income, education and ________. (Points : 5)

banking practices
previous mail-order purchases
previous purchases
response to mail-order catalogs
telemarketing response

Question 8. 8.The main advantage of nontraditional media is that a very precise and-because of the nature of the setting involved-captive audience often can be reached in a ________ manner. (Points : 5)

new
effective
cost-effective
targeted
individualized

Question 9. 9.Personal communications channels derive their effectiveness through ________ presentation and feedback. (Points : 5)

effective
group
canned
individualized
persuasion

Question 10. 10.The ________ involves correlating past sales to past advertising expenditures using advanced statistical techniques in an effort to measure the sales impact of a given promotional campaign. (Points : 5)

historical approach
experimental design approach
humanist approach
target exposure rate approach
pulsing approach

Question 11. 11.When a relationship management program is properly implemented, the organization will begin to focus as much on managing its customers as on managing its ________. (Points : 5)

finances
products
personnel
markets
brands

Question 12. 12.Sales promotions tools offer three distinctive benefits to marketers. Among these benefits are communication, invitation, and ________. (Points : 5)

credibility
impersonality
exclusion
inclusion
incentive

Question 13. 13.An effectively trained company sales force can make four important contributions: enthusiasm building, missionary selling, key account management, and ________. (Points : 5)

customer contacts
relationship selling
direct sales contacts
increased stock position
account management

Question 14. 14.Companies must consider several factors in developing their communications mix: type of product market, consumer readiness to make a purchase, and the stage in the ________. (Points : 5)

product life cycle
marketing mix
advertising mix
buying process
none of the above

Question 15. 15.Marketing managers must prepare implementation and control plans that cover the various elements of the sales promotion program. ________ is the time necessary to prepare the program prior to launching it. (Points : 5)

Sell-in time
Pretesting
Duration
Lead time
Forwarding

Question 16. 16.Marketing functions must be coordinated to ensure ________ among communications tools. (Points : 5)

significant costs
power
importance
incremental costs
substitutability

Question 17. 17.Salespeople need to know how to recognize closing signs from the buyer, including physical actions, statements or comments, and ________. (Points : 5)

products
questions
concerns
actions
objections

Question 18. 18.Call centers that initiate calls to prospects and customers are called _________. (Points : 5)

teleprospecting
telesales
telecoverage
outbound telemarketing
inbound telemarketing

Question 19. 19.Advertising objectives can be classified according to whether their aim is to inform, persuade, remind, or ________. (Points : 5)

create interest
purchase
create demand
reinforce
introduce

Question 20. 20.Marketers are using creative and unexpected ad placements to grab consumers' attentions in ________ advertising. (Points : 5)

market-specific
customer-specific
space
nontraditional
place

general business data bank

general business data bank

Question

11. You’ve decided to buy a house that is valued at $1 million. You have $500,000 as a down payment on the house and you take out a mortgage for the rest. Your bank is offering you a 30-year standard mortgage at a fixed nominal rate of 9% or a 15-year mortgage at a fixed nominal rate of 9%. How much more interest will you pay if you took out a 30-year mortgage instead of a 15-year mortgage?

a. $535,480.20

b. $631,866.64

c. $685,414.66

d. $738,962.68

e. $876,543.21

12. How long will it take for you to pay off $1,000 charged on your credit card, if you plan to make the

minimum payment of $15 per month and the credit card charges 24% per annum?

a. 10 years

b. 12 years

c. 15 years

d. 17 years

e. You may not be able to pay off the debt

13. Which of the following investments would have the lowest present value? Assume that the effective annual rate for all investments is the same and is greater than zero.

a. Investment A pays $250 at the end of every year for the next 10 years (a total of 10 payments).

b. Investment B pays $125 at the end of every 6-month period for the next 10 years (a total of 20 payments).

c. Investment C pays $125 at the beginning of every 6-month period for the next 10 years (a total of 20 payments).

d. Investment D pays $2,500 at the end of 10 years (just one payment).

e. Investment E pays $250 at the beginning of every year for the next 10 years (a total of 10 payments).

14. Which of the following statements is CORRECT?

a. The cash flows for an ordinary annuity all occur at the beginning of the periods.

b. If a series of unequal cash flows occurs at regular intervals, then the series is an annuity.

c. The cash flows for an annuity due must all occur at the ends of the periods.

d. The cash flows for an annuity must all be equal, and they must occur at regular intervals, such as once a year or once a month.

e. If some cash flows occur at the beginning of the periods while others occur at the ends, then we have what the textbook defines as a variable annuity.

15. You have 2 options to buy a membership. One is to pay $5,000 upfront today and the other one is to pay

$500 each year starting today. If the prevailing discount rate is 8%, how many years do you remain as a member before the $500 annual payment becomes more expensive than the one-time membership?

a. 14.5 years

b. 17.5 years

c. 18.5 years

d. 19.5 years

e. 21.5 years

16. You observed an upward-sloping normal yield curve. Which of following statement is the MOST correct?

a. Pure expectation theory must be correct.

b. There is a positive maturity risk premium.

c. If the pure expectation theory is correct, future (short-term) rates are expected to be higher than current (short-term) rates.

d. Inflation must be expected to change in the future.

e. Default risk premium or liquidity premium must be increasing in the future.

17. Charles Townsend Agency issues 15-year, AA-rated bonds. What is the yield on these bonds? Disregard cross-product terms, i.e., if average is necessary, use the arithmetic average.

Relationship between bond ratings and DRP

Rating

Default Risk Premium

U.S. Treasury

-

AAA

0.60%

AA

0.80%

A

1.05%

BBB

1.45%

Real risk-free rate (r*) = 2.8% (expected to remain constant)

Inflation rate = 5%/yr for each of next five years, 4% thereafter

MRP = 0.1*(t – 1)%, t is the security’s maturity, LP = 0.55%

a. 5.55%

b. 8.48%

c. 9.33%

d. 9.88%

e. 10.12%

18. The yield on a one-year Treasury security is 5.84%, and two-year Treasury security has a 7.88% yield. Suppose the securities do not have a maturity risk premium, what is the market’s estimate of the one-year Treasury rate one year from now?

a. 8.118%

b. 9.55%

c. 9.92%

d. 11.354%

e. 12.129%

19. Assume a scenario in which there is no maturity risk premium (MRP = 0) and the real risk-free rate is expected to remain constant, and the yield curve is likely to be normal for the next 10 years. Is inflation expected to increase, decrease, or stay the same over the next 10 years?

a. Stay the same

b. Decrease

c. Increase

d. Increase at first and then decrease

e. None of above

20. Crockett Corporation's 5-year bonds yield 6.65%, and 5-year T-bonds yield 4.75%. The real risk-free rate is r* = 3.60%, the default risk premium for Crockett's bonds is DRP = 1.00% versus zero for T-bonds, the liquidity premium on Crockett's bonds is LP = 0.90% versus zero for T?bonds, and the maturity risk premium for all bonds is found with the formula MRP = (t – 1) × 0.1%, where t = number of years to maturity. What inflation premium (IP) is built into 5-year bond yields?

a. 0.68%

b. 0.75%

c. 0.83%

d. 0.91%

e. 1.00%

21. Assume that interest rates on 20-year Treasury and corporate bonds are as follows:

T-bond = 7.72% AAA = 8.72% A = 9.64% BBB = 10.18%

The differences in these rates were probably caused primarily by:

a. Tax effects

b. Default risk differences

c. Maturity risk differences

d. Inflation differences

e. Real risk-free rate differences

22. If 0R1=5%, E(1R2)=4%, what is 0R2 according to the Expectations Hypothesis?

a. 3%

b. 3.5%

c. 4%

d. 4.5%

e. 5%

Complete Accounting Cycle

Complete Accounting Cycle

Question I have included the attachments to do all of the work I need completed. This one very short notice so I'll need it done rather quickly. I have included working papers and the questions I need answered. These questions are very important. If there are anymore questions feel free to contact.
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Doughboy Bakery would like to buy a new machine for putting icing

Doughboy Bakery would like to buy a new machine for putting icing

Question Doughboy Bakery would like to buy a new machine for putting icing and other toppings on pastries. These are now put on by hand. The machine that the bakery is considering costs $78,000 new. It would last the bakery for ten years but would require a $9,000 overhaul at the end of the seventh year. After ten years, the machine could be sold for $8,000.


The bakery estimates that it will cost $18,500 per year to operate the new machine. The present manual method of putting toppings on the pastries costs $38,000 per year. In addition to reducing operating costs, the new machine will allow the bakery to increase its production of pastries by 7,000 packages per year. The bakery realizes a contribution margin of $0.60 per package. The bakery requires a 8% return on all investments in equipment. (Ignore income taxes.)


Click here to view Exhibit 11B-1 and Exhibit 11B-2, to determine the appropriate discount factor(s) using tables.


Required:
1. What are the annual net cash inflows that will be provided by the new machine?


Annual net cash inflows $

2. Compute the new machine's net present value. Use the incremental cost approach. (Negative amount should be indicated by a minus sign. Round discount factor(s) to 3 decimal places, other intermediate calculations and final answer to the nearest whole dollar.)


Net present value $

general business data bank

general business data bank

Question

1. Instead of scattering their marketing effort (a “shotgun” approach), many companies are now embracing target marketing where the focus is on those consumers that they have thegreatest chance of satisfying (a ________ approach) with their products and services.

a. “rifle”

b. “focused”

c. “niche”

d. “macro”

e. “micro”

2. In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers.

a. group

b. mass

c. general

d. segmented

e. differentiated

3. The argument for ________ marketing is that it creates the largest potential market, which leads to the lowest costs, which in turn can lead to lower prices or higher margins.

a. niche

b. micro

c. macro

d. differentiated

e. mass


4. A ________ consists of a group of customers who share a similar set of needs and wants.

a. market target

b. market group

c. market slice

d. market segment

e. market level

5. A ________ consists of two parts: a naked solution and discretionary options.

a. differentiated market offering

b. flexible market offering

c. rigid market offering

d. vertical market offering

e. horizontal market offering

6. If a marketing manager observes that his or her market shows no natural segments and consumers seem to have roughly the same preferences, the marketing manager will most likely be faced with a ________ preferences pattern.

a. homogeneous

b. heterogeneous

c. diffused

d. clustered

e. scattered

7. Procter & Gamble has many soap brands. One reason for this is that soap users tend to group together in terms of preferences such as bleaching action, softness, stain-removal, et cetera. Which of the following preferences pattern would most likely apply to P&G’s method of response to market needs?

a. Homogeneous preferences.

b. Diffused preferences.

c. Clustered preferences.

d. Psychological preferences.

e. Cultural preferences.

8. Marketers usually identify niches by ________.

a. dividing a segment into subsegments

b. conducting VALS tests

c. allowing consumers to gravitate toward product brands

d. examining the demographics section of The Handbook of Marketing

e. producing products that can be used in a variety of ways

9. A niche is characterized as being all of the following EXCEPT ________.

a. the customers in the niche have a distinct set of needs

b. the customers will pay a premium to the firm that satisfies their needs

c. the niche is not likely to attract other competitors

d. the customers generally have smaller amounts of income

e. the nicher gains certain economies through specialization

10. Which of the following has greatly facilitated niche marketing?

a. The Internet

b. Globalization

c. Industrialization

d. Recession

e. Excessive demand

11. When Nike attempts to get close to its customers at the local level by sponsoring local school teams and providing shoes, equipment, and clothing to many of them, Nike is using which of the following marketing formats?

a. Differentiated marketing

b. Consumer marketing

c. Instructional marketing

d. Partner marketing

e. Grassroots marketing

12. According to thoughts expressed by Pine and Gilmore about a new economic era that is rapidly approaching, if you charge for the time customers spend with you, then and only then are you in the ________ business.

a. niche

b. grassroots

c. experience

d. service

e. goods

13. Through customer experience management (CEM), brands can create five different types of experiences: sense, feel, think, relate, and ________.

a. remembering

b. forgetting

c. simulation

d. act

e. bargain

14. ________ combines operationally driven mass customization with customized marketing in a way that empowers consumers to design the product service offering of their choice.

a. Consumptionization

b. Viral marketing

c. Virtual marketing

d. Regionalization

e. Customerization

15. Two broad groups of variables are used to segment consumer markets. One method uses descriptive characteristics such as geography. The other method is to form segments by looking at ________ considerations.

a. gender

b. income

c. cultural

d. interest

e. behavioral

16. If a marketer decides that segmenting a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation.

a. demographic

b. psychographic

c. geographic

d. cultural

e. social class

17. According to established methods of segmenting markets, all of the following would an appropriate segment category if the family life cycle was the segmentation base ACCEPT ________.

a. young, single

b. male, female

c. young, married

d. older, married, no children under 18

e. young, married, youngest child 6 or over


18. A marketing manager is considering several options to market to market segments identified as being either culture-oriented, sports-oriented, or outdoor-oriented. This manager has selected the ________ format for segmenting markets.

a. personality

b. behavioral occasions

c. user status

d. psychographic lifestyle

e. readiness stage

19. PRIZM (Potential Rating Index by Zip Markets) identifies clusters of consumers based on a variety of characteristics such as education and affluence. Which of the following clusters would match to a consumer group that is characterized as being in their late forties and fifties, college-educated, upper-middle-class homeowners that married late and are still raising children in comfortable suburban subdivisions and are still pursuing kid-centered lifestyles.

a. The cosmopolitans

b. Beltway boomers

c. Young digerati

d. Winner’s circle

e. Blue bloods

20. Jose and Erika have just divorced. This will obviously not only have an impact on their personal lives but their consumptive lives as well. Which of the following demographic segmentation subsegment formats might be used by marketers to reach Jose or Erika?

a. Life stage

b. Benefits

c. Age segment

d. User segment

e. Occasion segment

21. Men and women tend to have different attitudinal and behavioral orientations, based partly on genetic makeup and partly on ________.

a. income

b. occupation

c. socialization

d. heredity

e. globalization


22. Which of the following American Generations is characterized as being great acquisitors and are value- and cause-driven despite indulgences and hedonism?

a. GI generation

b. Silent generation

c. Baby boomers

d. Generation X

e. Millennials

23. ________ is the science of using psychology and demographics to better understand consumers.

a. Psychographics

b. Segmentation

c. Clustering

d. Demographics

e. Social psychology

a

24. To reach Generation Y, rock band Foo Fighters created a digital street team that sends targeted e-mail messages to members who “get the latest news, exclusive audio/video sneak previews, tons of chances to win great Foo Fighters prizes, and become part of the Foo Fighters Family. Which of the following techniques for reaching Generation Y are the Foo Fighters using?

a. Student ambassadors

b. Unconventional sports

c. Cool events

d. Computer games

e. Online buzz

25. In 2003, 4.1 million Americans turned 21. An interesting fact is that the share of college students who plan to move back home after graduation is ________.

a. 10 percent

b. 25 percent

c. 50 percent

d. 60 percent

e. 75 percent


26. According to the VALS 8-part typology segmentation system, ________ are successful, sophisticated, active, “take-charge” people with high self-esteem. Their purchases often reflect cultivated tastes for relatively upscale, niche-oriented products and services.

a. innovators

b. thinkers

c. achievers

d. experiencers

e. believers

27. According to the VALS 8-part typology segmentation system, ________ are considered to be elderly, passive people who are concerned about change. They are loyal to their favorite brands.

a. believers

b. strivers

c. makers

d. survivors

e. experiencers

28. A housewife requests a new treadmill for her birthday. With respect to consumer decision roles, which role is the housewife currently playing?

a. Initiator

b. Influencer

c. Decider

d. Buyer

e. Gatekeeper

29. With respect to occasion segmentation, Christmas, Valentine’s Day, and ________ account for just over half of gifters’ budgets.

a. Halloween

b. Father’s Day

c. Mother’s Day

d. Thanksgiving

e. Independence Day


30. Mobil identified five different benefit segments for which products and services could be designed. ________ (27 percent of the market) shops Mobil outlets for fast fuel, fast service, and fast food.

a. Road warriors

b. Generation F

c. True blues

d. Home bodies

e. Price shoppers

31. With respect to user status (a segmentation possibility), ________ tend to focus on attracting potential users because they have the most to gain.

a. smaller firms

b. niche firms

c. followers

d. aggressive specialists

e. market-share leaders

32. If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the ________ as the means to segment.

a. user status

b. usage rate

c. buyer-readiness stage

d. occasion

e. benefit

33. If a buyer is loyal to two or three different brands of soap, this buyer’s loyalty status can be described as being among the ________.

a. switchers

b. shifting loyals

c. split loyals

d. hard-core loyals

e. anti-loyals

34. A company can learn a great deal by analyzing the degrees of brand loyalty. For example, by studying the ________ the company can pinpoint which brands are most competitive with its own.

a. hard-core loyals

b. split loyals

c. shifting loyals

d. switchers

e. anti-loyals

All of the following have been designated as groups that might be found using attitude as the primary segmentation variable EXCEPT ________.

f. synergistic

g. enthusiastic

h. positive

i. indifferent

j. hostile

35. A snack chip manufacturer is concerned about consumers leaving its brand and going to competitive alternatives. Which of the following groups (based on strength of commitment) would be most likely to leave the company’s offering and go somewhere else for snack products?

a. Convertible

b. Shallow

c. Average

d. Entrenched

e. Hard rocks

36. If a consumer group is designated based on their “balance of disposition,” the ________ group can be described as one that is made up of nonusers who are as attracted to a competing brand as they are to their current brands.

a. strongly unavailable

b. weakly unavailable

c. ambivalent

d. available

e. desirable

37. If a marketer is seeking to segment a business market, which of the following variables is generally felt to be important enough by marketers to place it first among the list of other variables that can be used in segmentation process?

a. Personal characteristics

b. Demographic

c. Situational factors

d. Operating variables

e. Purchasing approaches


38. A marketer is interested in segmenting a business market based on technology and customer capabilities. Which of the following major segmentation variables would most likely be used by the marketer to assist with the task?

a. Demographic

b. Purchasing approaches

c. Situational factors

d. Personal characteristics

e. Operating variables

39. A marketer is interested in segmenting a business market on ________ if the marketer intends to eventually segment the market based on loyalty and attitudes toward risk.

a. situational factors

b. purchasing approaches

c. personal characteristics

d. operating variables

e. demographics

40. A company can be said to have used ________ if the company distinguished customers buying on the basis of price, service, and quality.

a. macrosegmentation

b. microsegmentation

c. strategic segmentation

d. global segmentation

e. short-term segmentation

Question_DOC2_12Dec_3rd

Question_DOC2_12Dec_3rd

Question 81. Andrew is enrolled in a university course on project management. His class meets at the local

community college, but the instructor’s lecture is carried over two-way television from the state

university located in another city. This is an example of

a. simulation.

b. distance learning.

c. conference training.

d. e-learning.

/

82. Combining short, fast-paced, interactive computer-based lessons and teleconferencing with traditional

classroom instruction and simulation is called

a. internship.

b. combined training.

c. blended learning.

d. job-instruction training.

/

83. Presenting training content in a gaming simulation format has all the following advantages EXCEPT

a. enhancing employee interest in training.

b. improving transfer of training.

c. performance improvement.

d. low-cost design.

/

84. All of the following are advantages of e-learning EXCEPT

a. it leads to significantly greater retention of training content.

b. e-learning allows trainees to progress at their own speed.

c. e-learning incorporates built-in feedback.

d. e-learning allows trainers to update the content relatively easily.

/

85. The director of training is evaluating whether an e-learning method should be used for a supervisordevelopment

program. The director should consider all the following factors EXCEPT

a. whether supervisors who need training are in distant locations.

b. whether current training materials can be easily adapted to an e-learning format.

c. if the supervisors are self-motivated enough to work through the training program alone.

d. whether current supervisor training is meeting organizational goals.

/

86. In order to qualify as a tax-preparer for a seasonal job at a tax-preparation chain, Martin must answer

written questions on tax terminology covered in an e-learning course. Martin’s scores on this test

evaluate the training on a ____ level.

a. results

b. learning

c. reaction

d. behavior

/

/

87. Theresa, a company trainer, is reading the results of her customer-service training program

evaluations. She has very high ratings in the areas of class enjoyability and trainee willingness to take

the program again. This evaluation of Theresa’s training is on the ____ level.

a. reaction

b. learning

c. behavior

d. results

/

88. The difficulty with evaluating results by measuring the effect of training on the achievement of

organizational objectives is

a. pinpointing whether it actually was training that caused the changes.

b. that organizational results are not clearly quantifiable.

c. the criteria are hard to obtain.

d. the difficulty of interpreting subjective performance measures.

/

89. The ____ level of evaluation involves measuring the effect of training on job performance through

interviews of trainees and their coworkers and observing job performance.

a. reaction

b. learning

c. results

d. behavior

/

90. The most difficult level of training evaluation, but the one that has the most value to the organization is

the ____ level.

a. reaction

b. learning

c. behavior

d. results

/

91. Which is the best way to determine if training is cost effective?

a. measure improvements in performance resulting from training

b. compare costs and benefits associated with training

c. calculate the cost per employee of the training

d. determine whether training expenses came within budget

/

92. What is NOT a cost of training that should be taken into account when calculating the costs and

benefits of a training program?

a. trainer’s salary and time

b. hotel and food expenses for trainees if training is off-site

c. opportunity cost of trainees being away from work

d. reduction in morale of employees who were not selected for training

/

93. Conrad, the director of training, must establish for top management the amount of financial benefit the

company has realized for the amount of money that has been put into the mechanics’ training program.

Conrad needs to prepare a

a. return on investment analysis.

b. net gain calculation.

c. actual versus proposed budget comparison.

d. results evaluation.

/

94. ____ to evaluate training, HR professionals in an organization gather data on training and compare

them to data on training at other organizations of similar size in their industry.

a. When using the results approach

b. When using benchmarking

c. To use a cost/benefit analysis

d. When implementing a return on investment analysis approach

/

95. The best way to determine if the training caused the change in performance, or whether it was some

other factor, is to use

a. a control group.

b. a pre-test measure.

c. benchmarking.

d. pre-/post-measure.

/

/

96. A problem with the pre/post measure of evaluating training is

a. the difficulty of constructing a good test.

b. whether employees were randomly assigned to the control group.

c. being able to intervene in the workplace at the appropriate times.

d. knowing if the training was responsible for any changes in performance.

/

97. The training manager is reporting on the results of the training of new cashiers at the soon-to-open

theme park. In his report, the training manager says the training program was highly effective because

90% of the cashiers could operate at the required speed when tested at the end of the program. As

director of HR

a. you are pleased that the training program is so effective, and you will ask the manager to

repeat the same program in the future.

b. you ask if the training manager tested the new cashiers before they received the training.

c. you are pleased with this results-level evaluation because the cashiers will perform at least

this well when they are on the job.

d. you ask if the director collected any data on whether the cashiers liked the training.

/

TRUE/FALSE

1. If employees view e-learning tools as an Internet game that they enjoy playing, the training has

succeeded because the employees are not avoiding the training process.

/

2. Christopher has a heart problem that makes vigorous activity dangerous. His work team is going to

Utah for a white-water rafting outdoor experience to learn team building skills. Christopher is invited

to go along, but he will have to wait at the hotel while everyone else is on the water and camping out.

Christopher may have a legal case that he has not been accommodated in this training program.

/

3. Training focuses on improving employee capabilities needed for their current job. Development

focuses on employee capabilities needed for both their current and their future jobs.

/

4. Training should be viewed tactically because it is focused on employees’ current job capabilities.

Development should be viewed strategically because it is focused on employees’ needed future

capabilities.

/

5. The frequent changes to which the organization must adapt demands that employees be continually

trained to update their capabilities.

/

6. Cross-cultural training is needed for U.S. employees being transferred to foreign assignments, but it is

less necessary for foreign employees being transferred to U.S. assignments because of the

pervasiveness of the U.S. culture through movies, television and the Internet.

/

7. Because of the U.S.’s commitment to training specialized and skilled workers, the U.S. will remain the

innovative and strategic leader in the world economy for the foreseeable future.

/

8. A gap analysis identifies the difference between what an employee knows and what the employee

should know in order to perform the job satisfactorily.

/

9. It is essential that objectives for training be related to the budgetary priorities identified in the

organizational analysis.

/

10. Many job applicants and current employees have low readiness to learn because they lack sufficient

reading, writing and math skills to comprehend the needed training.

/

11. Carlene arrives at the training facility full of enthusiasm because she is really excited about learning

how to cope with difficult customers. She has encountered a number of intransigent customers and is

eager to see what “tricks” the trainers can show her. Carlene has motivation to learn.

/

12. Adult learners are more interested in a theoretical approach to training rather than a problem-centered

approach since adults prefer seeing the “big picture.”

/

13. Alicia will be traveling extensively in Brazil for her employer. Alicia knows no Portuguese and she

will be traveling in areas where there will be few fluent English speakers. Alicia’s employer is sending

her to a two-week language immersion program, where Alicia will be in a totally Portuguese-speaking

environment. This would be classified as massed practice.

/

14. Behavior modeling is the most elementary way in which people learn, and it is one of the best.

/

15. The concept of reinforcement is based on the law of confirmation, which states that people tend to

repeat behaviors that receive an immediate confirmation.

/

16. Phillip waited a week for feedback on how he did on his first sales presentation to clients because his

boss was out of town and had to review a recording of the presentation. This undermines the Phillips

learning because of the lack of immediate confirmation.

/

17. If a year after the equine safety program, the volunteers at the therapeutic riding stable always cross-tie

the horses while they brush and saddle them, that aspect of the training could be said to have

transferred.

/

18. On-the-job training is by far the most commonly used form of training, because it can be smoothly

integrated into the regular work flow.

/

19. One problem with on-the-job training is the risk that supervisors can transfer bad habits or incorrect

information to the trainees.

/

20. Employees do not always like to do cross-training, but a learning bonus often makes completing the

training more appealing.

/

21. Like apprenticeships, internships are a type of cooperative training.

22. The primary purpose of an orientation program is to provide a realistic job preview for new hires when

joining a new organization.

23. Virtual reality can be used to create an artificial environment for police officers, training them when to

use weapons when chasing suspects in darkened and crowded areas.

24. The major cost savings of e-learning programs come from low up-front development costs.

25. Since most of the benefits of training are intangible (such as attitude changes and safety awareness), it

is rarely possible to evaluate the cost effectiveness of training programs.

26. If a training program scored high at the reaction level, the learning level and the behavior level, but

there was no improvement at the results level, one can definitely say the training failed.

ESSAY

1. What learning principles would you consider in designing a training program?

2. What is the purpose of an orientation program? What should the format and content of an effective

orientation be?

ANS:

3. What is cooperative training? Describe its usefulness.

4. How can an organization determine if its training expenditures are cost effective?

question_key3_6Dec_2nd

question_key3_6Dec_2nd

Question 31. The Mont Blanc Company plans to export expensive consumer gift items to Germany. The
best overall economic measure of market potential would be Germany's
a) gross domestic product.
b) gross domestic product per capita.
c) gross national product.
d) balance of trade.
e) unemployment rate.
32. Caterpillar would like to better understand factors that would affect its ability to market
construction equipment in various countries. Which of the following forces determine how trade
barriers affect Caterpillar's marketing efforts?
a) Political and legal
b) Interpersonal
c) Social
d) Technological
e) Industrial
33. Special interest groups and regulatory bodies are ______ forces that must be taken into
account in international marketing.
a) socioeconomic
b) technological
c) economic
d) social and ethical
e) political and legal
34. Select the true statement.
a) Legislation regulating marketing in many foreign countries is being eased.
b) A government's attitude toward cooperation with importers has little impact on marketing
to that country.
c) Refusing to give payoffs and bribes in some foreign countries may put a marketer at a
competitive disadvantage.
d) Bribes and payoffs are considered unethical in all countries and cultures.
e) Bribes and payoffs are supported by U.S. trade policies under certain conditions.
35. The Foreign Corrupt Practices Act of 1977 makes it illegal for U.S. firms to
a) attempt to make large payments or bribes to influence policy decisions of foreign
governments.
b) offer foreign businesses any type of incentive for purchasing their company's products and
services.
c) change their ethical standards when dealing with foreign firms.
d) give even small tips or gifts in countries where such gifts are customary business practices.
e) introduce any type of corruption into foreign businesses that have higher ethical standards
than those of the U.S. firm.
36. If a certain country considered handshakes in business transactions to be taboo and
preferred to use nodding, this would be an example of differences in _____ forces.
a) cultural
b) political
c) economic
d) technological
e) regulatory
37. When products are introduced into one nation from another, acceptance is far more likely
a) if prices are set very low.
b) when bribes are paid to local officials to aid distribution.
c) if there are similarities between the two cultures.
d) if packaging is adjusted to match local preferences.
e) when retailers are given incentives to push the products.
38. Marketers of computer software, music CDs, and books are particularly affected by cultural
differences in
a) socioeconomic status of citizens.
b) advances in technology.
c) differences in cross-cultural exchange behavior.
d) ethical codes of conduct for businesses.
e) standards regarding intellectual property.
39. Many companies choose to standardize their _____ across national boundaries to maintain
a consistent and well-integrated corporate culture.
a) technology
b) ethical behavior
c) language
d) dress code
e) products
40. In many developing countries around the world, technology is enabling opportunities to
“leapfrog” existing technology. What does this mean?
a) These countries are able to forgo current technological advances in order to wait for even
better technology to be developed.
b) More advanced technology is reaching these countries even though they lack technological
infrastructures.
c) Technological advances are often offered at prices considerably lower than in well-developed countries.
d) The technology in developing countries is rapidly surpassing the technology in well-developed countries.
e) The existing technological infrastructures in these countries are rapidly being replaced by
newer, more advanced technology.
41. The unconscious reference to one's own cultural values, experiences, and knowledge when
encountering new and different cultures is known as
a) the “when-in-Rome” approach.
b) the Fraedrich Principle.
c) cultural relativism.
d) the self-reference principle.
e) the self-reference criterion.
42. ____ refers to the idea that morality varies from one culture to another and that business
practices are therefore differentially defined as right or wrong by particular cultures.
a) The self-reference criterion
b) Global ethics
c) Economic relativism
d) Cultural relativism
e) Moral relativism
43. Maquiladoras are
a) exchange controls from central banks in Latin American countries.
b) production facilities in north-central Mexican states.
c) import-export agents of the Mexican government.
d) global marketing programs established in Latin American countries.
e) freight forwarders from Mexico.
44. The agreement between the United States, Canada, and Mexico that merges these three
countries into one marketplace is called
a) EU.
b) MERCOSUR.
c) APEC.
d) NAFTA.
e) GATT.
45. Walmart is currently expanding its stores into Canada and Mexico. This expansion is being
facilitated by the
a) European Union.
b) North American Free Trade Agreement.
c) Pacific Rim Unification Act.
d) International Retail Alliance Association.
e) Latin American Free Trade Association.
46. One of the effects of NAFTA is the simplification of country-of-origin rules. This will likely
hinder the international trade activities of
a) Canada.
b) Japan.
c) Brazil.
d) Cuba.
e) Panama.
47. Which of the following is not true of NAFTA?
a) The agreement has a long adjustment phase-in time period.
b) Increased competition should lead to a more efficient market.
c) It will provide additional opportunities for the United States in long-term affiliations with
other countries in the Western hemisphere.
d) It is controversial.
e) Business licensing requirements have been increased.
48. Which of the following is true about NAFTA?
a) It remains politically controversial.
b) It will increase the total output of goods and services to foreign markets.
c) It will decrease the total number of jobs in the United States.
d) It eliminated all tariffs on goods traded between the United States, Canada, and Mexico.
e) It will reduce the number of illegal aliens in the United States.
49. Another name for the European Union is
a) the Common Market.
b) the European Market.
c) the Euro.
d) NAFTA.
e) AECO.
50. The unification of Europe through the European Union (EU)
a) produced the largest single market in the world.
b) calls for greater customization of products and attention to regulations and restrictions of
European countries.
c) means that members of the EU have become more heterogeneous in their needs and wants.
d) required the countries to be segmented into many different markets.
e) permits virtually free trade among the member nations of the EU.
51. The exchange rates of several European countries are linked together to a common
currency, the
a) lira.
b) euro.
c) dollar.
d) peso.
e) ropea.
52. Johnston Chemicals' president is very excited about the possibility of the firm's British
subsidiary having access to customers in the entire EU. He realizes that it will be some time before
this area truly becomes one market, primarily because of differences in which of the following?
a) Available advertising media
b) Cultural factors
c) Legal challenges
d) Technological advances
e) Economic environmental factors
53. The trade alliance that includes Brazil, Argentina, Chile, and other countries is known as
a) OPEC.
b) APEC.
c) MERCOSUR.
d) NAFTA.
e) the Common Market.
54. Which of the following alliances/agreements is the United States not a part of?
a) NAFTA
b) APEC
c) GATT
d) WTO
e) MERCOSUR
55. The Common Market of the Southern Cone (MERCOSUR) includes countries from
a) Africa.
b) Asia.
c) Central America.
d) South America.
e) the Pacific Islands.
56. Which of the following trade alliances differs from others in its commitment to facilitating
business and its practice of allowing the private sector to participate in a wide range of activities?
a) NAFTA
b) EU
c) MERCOSUR
d) WTO
e) APEC
57. Which of the following countries has made the greatest inroads into other world markets?
a) Indonesia
b) Philippines
c) Malaysia
d) Japan
e) China
58. Many marketers claim that ____ will become the world's largest market.
a) Japan
b) the United States
c) China
d) Thailand
e) India
59. Which of the following agreements provides a forum for tariff negotiations, reducing trade
restrictions, resolution of international trade problems, and ground rules for international trade?
a) The World Trade Organization
b) The North American Free Trade Agreement
c) The Latin American Free Trade Agreement
d) The European Union Free Trade Agreement
e) The General Agreement on Tariffs and Trade
60. If a newly formed country wanted to increase its international trade and reduce worldwide
tariffs, it would most likely try to become a part of
a) NAFTA.
b) WTO.
c) MERCOSUR.
d) APEC.
e) EU.