Test 15-16

Question 1

When an agent legally acts in the best interests of his/her client, the agent is establishing a(n) __________ relationship.

Answer 1

fidicuary

Question 2

When businesses want to make their products available to customers but do not want to over-distribute their goods and services, they are seeking ______

Answer 2

ideal market exposure

Question 3

Which of the following often makes it difficult for small manufacturers that have limited budgets to receive an equal opportunity to distribute their new products:

Answer 3

Slotting allowances

Question 4

The office photocopier is jammed again! Fortunately, there is an instruction manual to guide you through the process of removing the jammed paper. What is the best way to use the manual to clear the photocopier?

Answer 4

Read step one and then perform step one. Repeat this process in sequential order until all of the steps are completed and you have removed the paper.

Question 5

A memo on the bulletin board from a supervisor to staff members is an example of __________ communication.

Answer 5

downward

Question 6

Thomas does not know the answer to Mr. O’Malley’s question about a complex product. Which of the following is the best way for Thomas to respond to Mr. O’Malley’s inquiry:

Answer 6

“I’m not sure, Mr. O’Malley. My coworker, Reggie, knows a lot about this model. If you can wait a moment, I will have him speak with you.”

Question 7

One of the freedoms provided to individuals by the private enterprise system is the freedom to choose:

Answer 7

where they will work.

Question 8

Which of the following is a reason to avoid drawing distinctions between people:

Answer 8

Everyone is unique.

Question 9

Mike is thinking about expanding his manufacturing business internationally. Which of the following is a risk he might encounter:

Answer 9

Dealing with cultural and language barriers

Question 10

When the Silvers purchased their new car, the dealership representative sold their contract to another company in exchange for cash. To what type of business would the dealership have sold the Silvers’ contract?

Answer 10

Finance company

Question 11

A good way to prioritize your financial goals is to

Answer 11

assign each goal to a general category.

Question 12

Caitlin has three credit cards. She receives her credit card statement for one of the cards and has to decide how to pay the $500 she spent with that card. To pay the least for use of the credit, she should pay with __________ and make the __________ payment.

Answer 12

cash; full

Question 13

Kendra ‘s financial goal is to build wealth over time by making diversified investments. Which of the following financial services providers is most likely to help Kendra achieve her goal:

Answer 13

Asset-management firm

Question 14

Which of the following is one element of a situation analysis:

Answer 14

Environmental scanning

Question 15

Using a computer-generated slideshow to highlight product information would be most appropriate in which of the following business situations:

Answer 15

Formal sales presentation

Question 16

Which of the following would be done first in an environmental scan:

Answer 16

Identifying participants and responsibilities

Question 17

A business can protect its confidential computer information from unauthorized users by

Answer 17

encrypting computer files

Question 18

Which of the following expenses should Charlene categorize as a fixed cost:

Answer 18

Rent

Question 19

A retailer that overcharges customers for small items at the point of purchase may be engaging in the unethical practice of

Answer 19

scanner fraud.

Question 20

How food products can be used generally is determined by their

Answer 20

grades

Question 21

What can a pharmaceutical manufacturer do to help ensure that its pain reliever and allergy medications are safe for consumer use?

Answer 21

Use protective packaging

Question 22

When a customer is willing to purchase only one specific brand, this is referred to as brand

Answer 22

insistence

Question 23

How has the Internet enhanced a business’s ability to promote its products?

Answer 23

Consumers can access the business’s website at any time

Question 24

An advantage of newspaper advertising over television and radio promotion is more

Answer 24

consumer interest in the ads.

Question 25

What type of product information might a salesperson obtain from reading a business’s promotional materials?

Answer 25

Characteristics

Question 26

A manager evaluates the production output of a department by checking it against the production goals for that time period. This is an example of the __________ function of management.

Answer 26

controlling