Mod 1
Which of the following best describes a negative outcome that could arise as a result of markets, even when markets function efficiently?
1) Wealth disparities and income inequality
2) Increased product variety
3) Greater competition
4) Innovation stagnation
5) Crippling market power
Wealth Disparities and income inequality
What are the 4 components of SWOT.
Strengths, Weaknesses, Opportunities, Threats
Which company faced criticism for calculating the cost of lawsuits versus fixing fuel tank issues in the Pinto model?
Ford
Who CURRENTLY has the most social media followers across ALL platforms.
Cristiano Ronaldo
What is the main goal of Porter's 5 Forces?
To analyze industry profitability.
What is a Matching Market?
A market where prices are NOT sufficient to determine transactions.
What cognitive limitation often prevents people from recognizing their unethical behavior?
Motivated Blindness
Which floor of Questrom is the Metcalf Ballroom?
9th
The complex mix of tangible and intangible attributes that provide satisfaction and benefits is referred to as which P of marketing?
Product
Which of the following is an NOT example of a firm that competes in a platform market?
1) Coca Cola
2) Apple
3) Amazon
4) Uber
Coca Cola
What term describes the phenomenon where individuals fail to see ethical dimensions due to treating decisions as purely business-oriented?
Ethical Fading
What is the current highest grossing movie of 2024?
Inside Out 2
What is the primary goal of customer relationship management (CRM) systems?
To enhance customer satisfaction and loyalty
What does Pareto optimality signal in a market?
No consumer or producer can be better off without making someone else wore off
What ethical theory emphasizes fairness in distributing societal goods?
Social Justice Theory
Who was the 14th President of the USA?
Franklin Pierce.
Uncle Cracker’s Farm Stand sells apples at $8 per bag, with a WTP of $10 and a cost of $5 per bag, what is the Value Captured by the Firm?
$3/Bag
What accounting standard is used by most of the world outside of the US (which uses GAAP).
IFRS
What strategy did Slice Insurance use to reduce fraud among its policyholders?
Claimants recording videos of their claims
Who was the first musician to sell over 1 billion physical records?
Elvis Presley