Management
What is the practice of examining the best practices in an industry or in the world and using this knowledge as a basis for improvement?
Benchmarking
Which type of shop offers a range of grocery and household items that cater for last-minute purchase needs of customers?
Convenience store
Prices are likely to be least flexible in what type of competition?
Oligopoly
During the fall of 1993, prices were increasing by 1% an hour in Bosnia, this is an example of?
Hyperinflation
In the english speaking world outside North American, Australia, and New Zealand, by what term is corn known?
Maize
What is defined as the duty to act according to the authority that has been given?
responsibility
What term describes the perception on the part of a channel member that its goal attainment is being impeded by another, with stress or tension the result?
channel conflict
For a natural monopolist, fixed costs are very _______, while marginal costs are very _________
high; low
_______________ Policy deals with government taxation and government expenditures.
Fiscal
The first woman appointed to the supreme court was _________
Sandra Day O'Connor
Supply chain management embraces four main activities. Which of the following is not one of the activities?
a.) fulfilment c.)customer service
b.) Transportation d.) stock management
C. Customer services
Segmentation pricing is where varying prices are set for different groups of customers. What do economists call this approach?
Price discrimination
For a monopolist, when the price effect is greater than the output effect, marginal revenue is __________.
negative
Money kept in a savings account is serving which function of money?
Store of value
Who wrote the Grapes of Wrath?
John Steinbeck
What do the initial of the PDCA cycle stand for?
Plan, do, check, act
In the 7 P's of the services mix, three extra dimensions to the tradional four P's are commonly used. They are People, Physical Evidence and what?
Process
A consumer's demand curve can be obtained from what?
Price consumption curve
what is the slope of a Keynesian aggregate supply curve?
Zero or horizontal
What is the tallest grass in the world?
Bamboo!
According to Herzberg, which is not a motivator?
Recognition within the job
Recognition by others
Personal growth
Working Conditions
Working Conditions
What is the concept that states new retailers begin as low-price and low-margin retailers and then convert into high priced retailers they replace?
wheel of rationing
What term best describes the lowest point on the long run average cost curve where the firm can produce such that its long run average costs are minimized?
Minimum efficient scale
If 20 million workers are unemployed and 180 million are employed, then what is the unemployment rate?
10% - 20+180=200 20/200=10%
__________ is the fear of climbing, especially when using stairs?
Climacophobia