Intro to Business

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A _____ market is a period of large stock-price increases

bull

What are the four P's of Marketing?

Product, Price, Place, Promotion

Which pricing strategy features the seller charging a low price on a new product to discourage competition and gain market share?

penetration

The money used to start a business and keep it running is also called

capital

By not allowing products from other countries to be sold below cost in the U.S., the government is attempting to prohibit __________.

dumping

RUSure manufactured and sold a bad batch of pregnancy tests that give false-negative results. As required by the federal Food and Drug Administration, RUSure recalls the defective pregnancy tests at a cost in excess of $5 million. In completing the product recall, RUSure is at what level of corporate responsibility:

Compliant.

Which of the following is true of a Ponzi scheme?

Pays money to investors with funds from subsequent investors and Does not generate real returns for investors

_______ is why a customer would buy a company's product or service.

Value proposition

Another term for revenue is _________

sales

A __________ is an investment that pools individual investor dollars and invests in diversified securities?

mutual fund

McDonald's, Coca-Cola and Pizza Hut, all of which operate in many different countries, are best characterized as _____ corporations.

multinational

The free market system was espoused by _____ in his book The Wealth of Nations.

Adam Smith

Individuals brought together as a group for the purpose of asking them questions about a product or marketing strategy is an example of:

Focus Groups

_____ is the difference between the revenue that a company brings in from selling goods and services and the costs of generating this revenue.

Profit

The primary reason that nations trade is _______.

because no nation's economy can produce all of the goods and services that it needs

If the U.S. dollar goes down relative to the Euro, which of the following is true. buyers using the Euro will pay ____ for American goods and services.

Buyers using the Euro will pay less for American goods

What type of market segmentation would consider a consumer's frequency of use?

behavioral

Timberland opens a new manufacturing plant in China. This is what type of globalization strategy?

foreign direct investment

The following information is used by investors to make investment decisions

EPS, ROI, Net margin, and Revenue growth

Using _____ branding, a company makes a product and sells it to a retailer who resells it under its own name.

private

The fact that China manufacturers can generally manufacture labor intensive products at a lower cost than manufacturers located in the United States ia an example of _____________:

comparative advantage

Corporate social responsibility is based on a company's relationships with _____.

managers, customers, community members, and shareholders

When General Electric (Ticker: GE) stocks are traded on the secondary market, who gets the proceeds of the sale?

investor selling the stock

Common argument(s) in support of corporate social responsibility include

businesses benefit from society and government and so should contribute back to range of stakeholders

An industry that features high competition and low margins is categorized as _______.

mature

Debt financing will increase your company's _____.

liabilities

The _____ is a government agency that regulates banks and insures deposits in member banks up to $250,000.

FDIC

Which of the following statements is false?

Ethical issues are limited to for-profit organizations.

If a manufacturer offers a wholesaler a special incentive to carry a new product line, which strategy is being applied?

Push

Because General Motors markets vehicles that appeal to a variety of tastes and incomes, it illustrates the ___________ approach

multi-segment

An ethical dilemma is a morally problematic situation because _____.

you have to choose between two or more acceptable alternatives and it can be a "right vs. right" decision

Service-based businesses, such as hospitals or hotels, convert resources into _____ products.

intangible

Which of the following should help reduce the incidence of unethical behavior in an organization?

Understanding that individual moral standards, the influence of managers and coworkers, and opportunity influence ethical behavior.

Which of the following are external factors that impact business?

consumer trends

Policies that restrict free trade among nations are called _____.

trade controls

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