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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