Question 1 0.5 pts If you are developing your own personal ethical system, which of the following would NOT be appropriate to include in your evaluation? Time Attem 1 Hoa your beliefs your age your behavior your base character Question 2 0.5 pts A code of conduct defines the core purpose of the organization gives employees guidance on how to handle themselves in challenging ethical situations describes the company's goals and aspirations reports on the legal compliance of a corporation Question 3 0.5 pts Sexual conduct outside the office will never impact the professional role of the employee involved True False D Question 4 0.5 pts A company's track record of legal compliance can be used to evaluate a company's ethical conduct. True False D Question 5 0.5 pts Which of the following is NOT an example of how corporate social responsibility can be consistent with profitability? offering bonuses to employees who embellishprofit and loss statements offering a small discount to customers of a coffee shop who bring their own reusable cup paying employees in a developing nation more than the minimum required encouraging employees to volunteer within the local community Question 6 0.5 pts Situational ethics encourages people to make ethical decisions based upon the circumstances of a particular experience, not upon foxed laws create a personal code of ethics based on their family background have no interest in the moral consequences of their actions evaluate how they can best meet their individual needs in any particular situation Question 7 0.5 pts Since goods are more widely manufactured and sold in the global marketplace, this has caused U.S. companies to face difficult decisions about ethical standards on tough issues such as child labor, pollution, fair wages, and human rights have more control over ethical standards in other countries since governments are caper to meet the expectations of companies that wish to operate within their borders close down offshore manufacturing facilities because of different ethical standards respect and care for their employees in the United States with higher ethical standards D Question 8 0.5 pts What is a company's unique responsibility to its stockholders? to make a profit to produce products that the public will find useful to provide jobs to workers e) to create a stable balance sheet between income and expenses Question 0.3 pts Conducting a business within the boundaries of all laws that govern that industry is referred to as legal compliance excellence adaptation regulation Question 10 0.5 pts A whistle-blower is someone who reports misconduct occurring in his or her workplace breaks the law when he or she informs an outside agency about violations in the workplace is someone who helps a company recover from a highly publicized ethical lapse is a new leader brought in after a scandal to set an example of the new ethical image of the company The link between labor costs in China and the price of MP3 music players in the United States is an example of localization monetization nationalization globalization Question 2 0/0.5 pts Apple's selling iPhones to customers in Africa, Asia, and Europe is an example of the globalization of outsourcing offshoring markets production 0/0.5 pts Question 3 The nation of Baa-Baa raises sheep relatively more efficiently than the nation of Snuggle. Snuggle weaves woolen blankets relatively more efficiently than Baa-Baa. Baa-Baa decides to specialize in raising sheep, to sell wool to Snuggle, and to buy blankets from Snuggle. Snuggle decides to specialize in blanket weaving, to sell blankets to Baa-Baa, and to buy wool from Baa-Baa. This international trade illustrates advantage. absolute international artificial competitive comparative comparative 0/0.5 pts Question 4 If the United States has the ability to produce more steel than any other country in the world, the United States has a(n) advantage in steel production comparative globalized absolute relative If the nation of Epsilon places a tax on all grapes imported from the nation of Zeta, Epsilon has imposed a(n) foreign content requirement quota embargo tariff 0/0.5 pts ed Question 6 The country of Kappa sells pizza for $1.00 each within its borders. But Kappa exports pizzas at a price of $0.30. This is an example of dumping an administrative trade barrier cheap foreign labor an embargo If Ecuador has a dispute with France over the importation of bananas, from which agency can Ecuador seek arbitration? WTO ASEAN NAFTA GATT red Question 8 0/0.5 pts is relatively easy and inexpensive compared with establishing a physical presence in a market, but it is not economical for heavy or bulky products with high transportation costs. Exporting Licensing Ajoint venture Franchising 9 In order to enter the Spanish market, a Moroccan firm establishes a store that is entirely owned by the Moroccan firm. This is an example of a(n) joint venture wholly owned subsidiary exporting agreement strategic alliance 0/0.5 pts Question 10 dollar. U.S. exporters prefer a(n). strong exchange appreciating weak ons Question 1 0.5 pts Aln). is defined as a business that is independently owned and operated and is not dominant in its field of operations ach Time Attemp entrepreneurship O Minu incubating business small business minority-owned business Question 2 0.5 pts Technology has had a significant impact on small businesses because most small businesses cannot afford the high costs of new technologies to help run their businesses the failure of so many Web-based businesses in the late 1990s made capital unavailable it creates new business opportunities and new ways to conduct business the information technology market has become oversaturated and unfriendly /courses/11483/quizzes/47616/take A(n) is someone who takes the risk of creating, organizing and operating a business, usually to satisfy a need in the marketplace that is not being adequately met. innovator entrepreneur opportunist business owner Question 4 0.5 pts James lives near a university and observes that almost every student uses a cell phone. He decides to open a small shop offering repair services for cell phones. His shop is an instant success. James has satisfied an area of need called an opportunity niche a bandwidth need fertile ground the marketplace Question 5 0.5 pts An entrepreneurial team is a group of students who create fictional business ventures to test out their viability O a strategic alliance among two or more companies who collaborate to launch a new product O a group of qualified individuals with varied experiences and skills that come together to form a new venture a group of individuals who come together to discuss their feelings about working for their employer 0.5 pts D Question 6 A franchise is a method of doing business in which a company's products or services are sold to independent third-party operators under the company's name a company buys ownership of another company and absorbs its employees and customer base into its own structure an entrepreneur sets up and manages a small business based on an innovative idea or product a small company is bought by a larger one and is absorbed into its existing structure Olection Question 7 0.5 pts Which of the following does a franchise company offer to people who want to start a business? lower initial costs than when starting a business from scratch marketing and financial tools to run a business guaranteed freedom from local competition creative control and flexibility 0.5 pts Question 8 Fred started his new landscaping business with a commercial loan. He uses his credit card to pay for weekly supplies such as fertilizer and mulch. Business growth has been slow and Fred is having a difficult time keeping up with his monthly loan and credit card payments. He is now considering borrowing against his home to stay current with his initial loan and for other needed expenses. Fred's business is MOST at risk because Fred's business does not have enough revenue Fred has not acquired enough customers Fred is taking on too much debt Fred's home may not have enough equity to qualify him for an additional loan Type here to search Maps Question 9 0.5 pts Many e-commerce businesses failed in the late 1990s because they did not plan for rapid growth and lacked sufficient inventory to fulfill orders their online stores were a source of identity fraud they were owned by young entrepreneurs they had too many other online competitors Question 10 0.5 pts The major advantage of borrowing money from friends or family to start a business is they will not usually expect a high rate of return on their investment will be aware of all credit problems that might affect financing do not need to be kept informed of any risks of the venture will ensure that you do not overestimate your initial funding needs V pes Lucia owns her own dog walking business and has several employees. She fled no legal paperwork! and has no partners. Lucia's business is a(n) illegal endeavor limited liability company sole proprietorship corporation Question 2 0.5 pts One disadvantage of sole proprietorship is the cost of starting or ending the company is higher than in other businesses possibility of disagreements between different owners unlimited liability the owner has for the debts of the company burden of all the required paperwork that must be filed 0.5 pts All of the following are advantages to a partnership EXCEPT increased available time pooled skills unlimited liability increased financial resources 0.5 pts D Question 4 Jenny and Rose are hairstylists that have decided to open their own salon by starting a general partnership. The first step to ensuring a successful partnership would be to draw up a partnership agreement guarantee that they each have 25 clients to bring into the partnership submit the limited liability forms before they see clients arrange for the special tax filing considerations a partnership requires 5 nts Question 5 0.5 pts All of the following are advantages of forming a corporation EXCEPT extended life capitalization an air of legitimacy ease of set up Question 6 0.5 pts Ben recently purchased 100 shares of stock in Feger's Sports, Inc. Ben is a(n) Inc. _of Feger's Sports, director employee Owner manager Type here to search A(n) occurs when two companies of about the same size mutually agree to create a new combined company. acquisition takeover merger synergy Question 8 0.5 pts acquisition occurs when one company tries to take control over another company against its wishes. e tender O hostile horizontal extension 0.5 pts Question 9 A dance studio and a dancewear manufacturer decide to combine. This type of merger is called a horizontal merger product extension merger market extension merger vertical merger Question 10 0.5 pts Owners of limited liability companies are referred to as _ called while owners of corporations are partners; members partners; shareholders members, shareholders shareholders, members