Marketing
One business promising to do something for another business in return for receiving compensation is an example of a:
A. contract.
B. benefit.
C.treaty.
D. enterprise.
A. contract.
A primary reason for a business to interpret statistical findings is to
A.increase production.
B. promote creativity.
C. aid decision-making.
D.influence buyers.
C. aid decision-making.
Akilah wants to be a loan officer. What finance career field does she want to work in?
A. Banking services
B. Accounting
C.Insurance
D. Corporate finance
A. Banking services
Businesspeople are more likely to accept a new idea if the idea will
A.require additional resources.
B.improve a situation.
C.impact the economy.
D.involve a lot of risk.
B.improve a situation.
Which of the following is a reason why innovation is important:
A. Innovation helps the economy.
B.Innovation ensures a business will succeed.
C.Innovation leads to creativity.
D.Innovation eliminates competition.
A. Innovation helps the economy.
When trying to persuade others, it is often helpful to use stories and anecdotes because they:
A. exaggerate the benefits.
B. make people feel comfortable.
C. add energy to your explanation.
D.reinforce your message.
D.reinforce your message.
Reece works for a hotel, and many of his customers are business travelers. When he learns that a customer is traveling for work, he automatically shows them where the hotel's business center is. Reece is:
A.using secondary marketing data.
B. making unfair judgments.
C. anticipating unspoken customer needs.
D. using an aggressive selling tactic.
C. anticipating unspoken customer needs.
Which of the following is a primary function of information management:
A. Storing data
B. Placing ads
C. Monitoring employees
D. Obtaining credit
A. Storing data
A business owned by two or more persons who have unlimited liability is called a
A. sole proprietorship.
B. corporation.
C. cooperative.
D. general partnership.
D. general partnership.
What type of intellectual property protection can a company obtain to prevent its competitors from imitating and selling a new invention it has created?
A. Trademark
B. Copyright
C. Patent
D. Lawsuit
C. Patent
Marketing has an effect on the quality of life and general living conditions of consumers, referred to as their:
A. value system.
B. buying power.
C. buying habits.
D. standard of living.
D. standard of living.
Hailey runs the social media accounts for a restaurant. When she sees a post complaining about the
restaurant's service, what should she do?
A. Reply to the post promptly with an apology and a promise to improve
B.Ignore the post so that it will not gain any more attention
C. Post a reply denying the accuracy of the customer's complaint
D. Flag the post as inappropriate so it will be taken down
A. Reply to the post promptly with an apology and a promise to improve
Even if an unethical action isn't illegal, it can still cause negative consequences for organizations, such as
A.imprisonment.
B. an increased customer base.
C. a poor reputation.
D. decreased managerial authority.
C. a poor reputation.
hich of the following are capital goods:
A. Roads, airplanes, and water
B. Equipment, land, and minerals
C. Buildings, roads, and equipment
D. Airplanes, minerals, and buildings
C. Buildings, roads, and equipment
When planning a new venture, an entrepreneur can use __________ to clarify their goals and vision.
A. a mission statement
B.financial forecasting
C. a SWOT analysis
D. competitive analysis
A. a mission statement
Marcy is ready to buy a new computer, and she has saved up enough money to buy the model she wants. Which of the following describes the quantity that Marcy is prepared to buy:
A. Supply
B. Elasticity
C. Demand
D. Market price
C. Demand
A restaurant has been extremely busy, but it does not have room in the budget to hire more staff to keep up with demand. What is one strategy the restaurant could take to keep customers happy during peaks in demand?
A. Only accept customers who have a reservation
B. Add a consumer-participation option such as a salad bar
C. Offer discounts for customers to come back another time
D. Expand the restaurant to accommodate more tables
B. Add a consumer-participation option such as a salad bar
Which of the following factors has influenced the geographical development of unions:
A. Right to bargain collectively
B. Availability of natural resources
C. Right-to-work laws
D. Availability of capital goods
C. Right-to-work laws
Payroll, hotel reservations, and sales orders are handled by a(n) __________ type of information system.
A.knowledge work system
B.transaction processing system
C. decision support system
D. executive support system
B.transaction processing system
What external factor might a business consider before determining the selling price of its products?
A. Company strategies
B. Desired profits
C. Trade practices
D. Economic conditions
D. Economic conditions
How can a business build its customers' trust and communicate its commitment to ethical practices?
A. Develop liberal business policies
B. Publish its confidentiality statement
C. Hire employees who have a positive attitude
D. Post its earnings on its website
B. Publish its confidentiality statement
One of the primary ways in which hospitality and tourism contribute to economic growth is through
A.the use of global positioning systems.
B.the use of sustainable resources.
C. conference space.
D. visitor exports.
D. visitor exports.
Which federal agency supervises banks and credit unions?
A. Federal Trade Commission
B. Federal Bureau of Investigation
C. Consumer Product Safety Commission
D. Consumer Financial Protection Bureau
D. Consumer Financial Protection Bureau
Operations managers have two main goals. One of these goals is efficiency (keeping costs low). What is the other goal?
A. Productivity (keeping business running continuously)
B.Legality (keeping the business in good standing with the law)
C. Effectiveness (keeping customers satisfied)
D. Reputation (keeping up the business's good name)
C. Effectiveness (keeping customers satisfied)
The primary difference between amplified word-of-mouth marketing and organic word-of-mouth marketing is that
A. amplified is passive, and organic is interactive.
B. amplified is personal, and organic is nonpersonal.
C. amplified is goods-oriented, and organic is service-oriented.
D. amplified is planned, and organic is spontaneous.
D. amplified is planned, and organic is spontaneous.