ANSWERS TO CHAPTER 1 QUIZ - Islamic University of Gaza



Answers to Chapter 1 Quiz

1. profit

2. d

3. economic system

4. c

5. true

6. a mechanism for exchange between the buyers and sellers of a particular good or service.

7. mixed market economy

8. false

9. surplus, shortage

10. private property rights, freedom of choice, profits, competition

11. a (2), b (4), c (3), d (1)

12. stability, full employment, growth

13. inflation

14. true

15. the value of all goods and service produced in a year through domestic factors of production

16. exports and imports

17. reduce spending, raise taxes

18. Monetary

19. b

20. true

Answers to Chapter 2 Quiz

1. NORTH AMERICA, EUROPE, ASIA

2. a.

3. comparative advantage

4. true

5. floating

6. true

7. c.

8. exporter; importer

9. d.

10. independent agent

11. false

12. strategic alliances

13. d.

14. Sweden or France

15. true

16. tariff

17. b.

18. protectionist

19. raises

20. true

Answers to Chapter 3 Quiz

1. ETHICS

2. true

3. a

4. a–3

b–1

c–4

d–2

5. privacy

6. true

7. the stakeholder model of responsibility

8. d

9. the local community

10. false

11. c

12. waste industrial gases that trap heat in the atmosphere

13. true

14. FTC, FDA

15. the right to have safe products, to be informed about all relevant aspects of a product, to be heard, and to choose what to buy

16. collaborate

17. false

18. d

19. proactive

20. false

Answers to Chapter 4 Quiz

1. TRUE

2. business success

3. d

4. the desire to make the business expand and grow

5. b

6. false

7. declining

8. managerial incompetence or inexperience, neglect, weak control systems, insufficient capital

9. hard work and dedication, market demand for the product or service provided, managerial competence, luck

10. false

11. buy an existing business and start one from scratch

12. d

13. to work in it before going into business in it

14. A document that tells potential lenders why money is needed by the business, how it will be used, and when it will be repaid.

15. true

16. Government-regulated investment companies that borrow money from the SBA to invest in or lend to small businesses.

17. a

18. Service Corps of Retired Executives

19. franchise

20. true

Answers to Chapter 5 Quiz

1. C

2. true

3. five; one

4. d

5. Operational

6. false

7. contingency

8. planning, organizing, directing, and controlling

9. organizing

10. false

11. c

12. true

13. operations

14. c

15. financial

16. false

17. a

18. true

19. Corporate culture

20. c

Answers to Chapter 7 Quiz

1. A PRODUCT’S FITNESS FOR USE PLUS ITS SUCCESS IN OFFERING FEATURES THAT CONSUMERS WANT.

2. true

3. level of productivity

4. manufacturing

5. d

6. Japan

7. Total quality management, or TQM, or quality assurance

8. true

9. competitive product analysis

10. a. 4, b. 1, c. 2, d. 3

11. true

12. To plot test sampling results on a diagram determining when a process begins to depart from normal operating conditions

13. before

14. quality improvement (or QI) teams

15. A certification program attesting to the fact that a factory, lab, or office has met rigorous quality management requirements set by the International Organization for Standardization.

16. business process reengineering

17. false

18. An ongoing commitment to improving products and processes in the pursuit of ever-increasing customer satisfaction.

19. adopt a policy of employee empowerment and implement appropriate employee training

20. d

Answers to Chapter 9 Quiz

1. TRUE

2. a. 2, b. 1, c. 3

3. b

4. true

5. false

6. the process of introducing new employees to the organization so they can more quickly become effective contributors

7. a

8. is

9. The supervisor should provide feedback, coaching, counseling.

10. ranking, rating

11. true

12. d

13. a. 3, b. 1, c. 4, d. 2

14. gainsharing

15. Workers’ compensation

16. false

17. Title VII

18. Occupational Safety and Health Act of 1970, or OSHA

19. a

20. contingent

Answers to Chapter 10 Quiz

1. TRUE

2. relationship

3. d

4. economic

5. b

6. promotion

7. false

8. a. 4, b. 1, c. 2, d. 3

9. Study current situation, select research method, collect data, analyze data, prepare report.

10. b

11. true

12. after

13. postpurchase evaluation

14. a

15. hospitals, churches, museums, charitable organizations

16. false

17. derived demand

18. b

19. true

20. distribution

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