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11. Nearly a week before Hurricane Katrina reached New Orleans, Wal-Mart began moving trucks and
supplies into position, as specified in the company's ________ plan.
A. contingency
B. operational
C. tactical
D. strategic
12. The country Artesia exported products totaling $86 billion last year. During the year, Artesia imported
products valued at $43 billion. Artesia has a/an
A. exchange rate of 2 to 1.
B. trade surplus of $43 billion.
C. unfavorable balance of payments.
D. trade deficit of $43 billion.
13. Mario is part of a strategic planning team. He has identified that his company is the low-cost producer
in its industry. This should be listed on a SWOT analysis as a/an
A. threat.
B. weaknesses.
C. strength.
D. opportunity.
14. The salesperson's task of identifying potential customers is known as
A. selection.
B. demonstration.
C. follow-up.
D. prospecting.
15. Omar, an electrician for Quality Builders, is paid $35 for each hour he works during the day. After 5
p.m. and on weekends, he is paid the overtime rate of one and one-half times the regular hourly rate. Omar
is paid a
A. wage.
B. bonus.
C. commission.
D. salary.
16. The method of determining the minimum sales volume needed at a certain price level to cover all costs
is
A. market share analysis.
B. equilibrium pricing.
C. breakeven analysis.
D. return on sales.
17. If you seek to determine the value of one nation's currency relative to the currencies of other countries,
you should isolate the nation's
A. exchange rate.
B. governmental surplus.
C. countertrading activity.
D. international current module.
18. In the U.S. economy, ________ are considered the reward for the risk of entering business.
A. liabilities
B. profits
C. sales
D. revenues
19. One way for a country to obtain an absolute advantage in marketing a product outside its borders is to .
A. produce the good at the lowest cost.
B. adopt many trade restrictions.
C. revalue the currency.
D. enter into an orderly marketing agreement.
20. Ida works on creating ways to ensure that customers receive goods at the right time and correct
location. Ida is involved in her firm's ________ strategy.
A. promotion
B. transportation
C. pricing
D. product
21. Which of the following represents the basic accounting equation?
A. Assets = Liabilities + Owners' Equity
B. Liabilities = Assets + Owners' Equity
C. Assets + Liabilities = Owners' Equity
D. Owners' Equity - Liabilities = Assets
22. The rate the Fed charges member banks for short-term loans is called the
A. discount rate.
B. federal funds rate.
C. reserve requirement.
D. margin rate.
23. _______ planning involves choosing specific work targets and assigning employees and teams to carry
out plans.
A. Contingency
B. Strategic
C. Tactical
D. Operational
24. Student A says that if you're going to prepare alternative course of action, you need to do strategic
planning. Student B says that if you're going to prepare alternative courses of action, you need to do
contingency planning. Which student is correct?
A. Student B only
B. Student A only
C. Neither
D. Both
25. The curve that shows the relationship between different prices and the quantity requested at each price
is the ________ curve.
A. demand
B. supply
C. equilibrium
D. buying
26. A company includes an "instant coupon" as part of a product's package, giving the buyer a reduction
off the retail price. What is the company attempting to do?
A. Stabilize sales
B. Accentuate product value
C. Provide information
D. Increase sales
27. Price auctions on eBay are an ex of
A. entertainment.
B. information.
C. communication.
D. e-business.
28. Television is an attractive advertising medium because it
A. offers a rapidly growing network audience.
B. offers mass coverage and flexibility.
C. is relatively inexpensive.
D. provides instant feedback which can be used to measure effectiveness.
29. Joe is developing the marketing mix for his company's new line of power tools. A brand name, price,
and distribution system have been decided. Now Joe is concentrating his efforts on developing the best
advertising plan for the product line. The advertising plan is part of Joe's ________ strategy.
A. production
B. pricing
C. product
D. promotional
30. According to the doctrine of supply, the amount _______ will increase as the _______ increases.
A. demanded; cheapness
B. bought; cost
C. sold; demand
D. supplied; price
31. If you're developing a human resource inventory, you should exclude which of the following?
A. Perpetual inventory
B. Names
End of exam
C. Education
D. Capabilities
32. Team diversity is often established in a ________ team, by bringing together the expertise of members
from various functions in the organization.
A. self-managed
B. problem-solving
C. cross-functional
D. working
33. What is the name for a complex form of bartering in which several countries may be involved, each
trading goods for goods or services for services?
A. Countertopping
B. Exchange activity
C. Currency fluctuations
D. Countertrading