quiz practice

Self-managing teams take on responsibilities previously performed by traditional supervisors. Among the activities listed below, which is the least likely to be assigned to such a team?

•  

  Firing underperforming co-workers

•  

  Scheduling work assignments

•  

  Training new team members

• Developing budgets

Actions such as stalling, deflecting, and presenting opinions as if they were facts are all examples of what kind of team roles?

• Empowering

• Blocking

• Relationship-building

• Enforcing

Which external force includes business environment information such as unemployment rates, inflation, GDP growth, and oil prices?

• Economic

• Sociocultural

• Socioeconomic

• None of these are correct

Which of the following is not considered a stakeholder in a business enterprise?

• Outside minority investors in the enterprise

• The city, town, or state in which the business operates

• A bank which has loaned money to the business

• A key competitor of the business

Which type of competition is described by the following: “many sellers, somewhat differentiated products serving a similar purpose”?

• Oligopoly

• Perfect competition

• Monopolistic competition

• Planned economy

A farming business has a fixed amount of land. When the managers decide to plant corn, the wheat that the farm does not plant represents a(n) ____________.

• Export

• Comparative advantage

• Opportunity cost

• Trade deficit

Professor Frank was offered a $5000 stipend for working on a new gaming simulation. One clause in the contract for the stipend is that he require his students to purchase the game. Which of the following is true?

• Professor Frank is faced with a conflict of interest

• Professor Frank is faced with a risk/reward decision

• The company should give Professor Frank a percentage cut of the sales

• The company is guilty of illegal contract manipulation

Setting the right minimum wage level is a societal challenge in that while most people want to “do the right thing”, agreeing on policy is difficult. This example illustrates a(n) __________.

• Ethical dilemma

• Ethical issue

• Ethical violation

• Laissez-faire economic policy

Because of high-labor costs in the USA, GE Appliances has its microwave ovens built in China by a third-party manufacturing firm and imported into the US. This type of international business arrangement is known as:

• Contract manufacturing

• Export

• Licensing

• Foreign direct investment

An extreme form of trade control, which for economic or political reasons bans the import or export of certain goods to or from a specific country.

• Boycott

• Subsidy

• Dumping

• Embargo