Marketing
Which of the following is a benefit of channels of distribution?
a) Producers must spend more money
b) We can more easily obtain products from all over the world
c) Retailers must spend more money
d) We spend more time looking for products we want
b) We can more easily obtain products from all over the world.
In a private enterprise economic system, the interaction of supply and demand primarily determines:
a) the extent of pollution
b) economic choices
c) product prices
d) government regulation
c) product prices
A business exhibits ethical behavior in customer relationship management by implementing policies that:
a) offer exclusive benefits.
b) require customer feedback.
c) protect its customers' privacy.
d) encourage repeat sales.
c) protect its customers' privacy.
What type of technology do businesses use to inspect financial transactions and to ensure that they are in compliance with government regulations?
a) Virtual Auditors
b) Cyber Mapping
c) Domain Computing
d) Simulation browsers
a) Virtual Auditors
Which of the following is one of the deciding factors in determining whether an item is a consumer or industrial good:
a) Price of the purchase
b) Who makes the purchase
c) How the purchase is made
d)When the purchase is made
b) Who makes the purchase
A grocery store keeps track of customers’ purchases through their loyalty cards. This is an example of:
a) Data encryption
b) Illegal data collection
c) Data security
d) Big data
d) Big data
Small businesses have a positive effect on the local community because they:
a) reduce competition.
b) pay taxes.
c) limit job growth.
d) charge interest.
b) pay taxes.
Which of the following statements is true about the economic impact of hospitality and tourism:
a) They are increasing overcrowding in cities.
b) They are important in most countries' balance of payments.
c) They foster world peace.
d) They represent most countries' greatest imports.
b) They are important in most countries' balance of payments.
To reduce the risk of loss due to fire or power outages, a financial business should protect its computer data by
a) Using encryption techniques
b) Conducting backup procedures
c) Implementing an authorization process
d) Monitoring data-transmission rates
b) Conducting backup procedures
Marsha wants to invest her savings in a business. However, she wants to protect all of her personal assets. Which type of business ownership would be most appropriate for Marsha?
a) Sole proprietorship
b) Franchise
c) Partnership
d) Corporation
d) Corporation
If the total cost is $3,000 with zero quantity produced and $6,500 with 1,000 items produced, what is the marginal cost of producing each item?
a) $3.50
b) $3.00
c) $6.50
d) $1.00
a) $3.50
A primary purpose of data mining is to:
a) summarize ideas.
b) stabilize sales.
c) develop services.
d) discover relationships.
d) discover relationships.
Because the leaders of a business set the tone for the business's beliefs and values, they are part of the business's ___________ subculture.
a) power
b) natural
c) independent
d) achievement
a) power
By deciding to buy or not to buy, consumers control what goods and services will be produced and at what price through their
a) Capital investment
b) Gross income
c) Limited wants
d) Economic votes
d) Economic votes
After finding several inconsistencies with its financial data, the MSV Company hired a compliance officer to monitor its financial processes and to ensure that the company is complying with regulations. What type of internal control has the business implemented?
a) Product
b) Preventative
c) Corrective
d) Conditional
c) Corrective
A commission or bonus is an example of a form of:
a) Compensation
b) Assistance program
c) Benefit
d) Employee contract
a) Compensation
Every task in a business process should have defined roles and responsibilities, which can be documented in an ARCI matrix. ARCI stands for accountable, responsible, __________, and informed.
a) constant
b) consulted
c) collaborative
d) controlled
b) consulted
Which of the following is always a true statement about marketing information used in hospitality and tourism:
a) Hospitality and tourism information is costly to obtain.
b) Little marketing information is available for hospitality and tourism.
c) Its value is in the insights it provides and the decisions it influences.
d) Its value lies in the number of studies that are conducted and the resources that are used.
c) Its value is in the insights it provides and the decisions it influences.
Which of the following statements about working in the financial-services industry is false?
a) Financial services professionals can be found in all kinds of companies, from large corporations to sole proprietorships.
b) Someone who works in financial services is limited to working at an investment firm, a bank, or an insurance company.
c) Financial services professionals can expect to earn higher-than-average salaries.
d) The financial-services industry includes real estate brokers, fund managers, and auditors.
b) Someone who works in financial services is limited to working at an investment firm, a bank, or an insurance company.
Two Sleep-n-Go Motel franchisees that are located five miles apart compete for the same customers. What type of channel conflict does this exemplify?
a) Horizontal
b) Vertical
c) Differential
d) Functional
a) Horizontal
A plant manager or a department head would be an example of which level of management?
a) Middle
b) Operating
c) Top
d) Supervisory
a) Middle
Which of the following is a legal concept that affects businesses that operate in foreign countries:
a) Sovereign immunity
b) Eminent domain
c) Absolute privilege
d) Social responsibility
a) Sovereign immunity
A restaurant wants to predict how their customers will react to a new menu. What type of relationship should the restaurant mine from blogs?
a) Clusters
b) Classes
c) Sequential patterns
d) Associations
c) Sequential patterns
As an employee Of Financial-services firm,Elise helps her clients reduce their debt, build their wealth, and save for their retirement. Which certification is Elise mostly likely to need to perform her job:
a) Certified Loan Officer (CLO)
b) Certified Tax Specialist (CTS)
c) Certified Financial Planner (CFP)
d) Chartered Market Technician (CMT)
c) Certified Financial Planner (CFP)
A business that fails to protect its employees from unnecessary risk or health hazards on the job may be sued for:
a) libel.
b) misrepresentation.
c) negligence.
d) incompetence.
c) negligence.