BUS 102 Part One Quiz

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BUS 102 Part One Quiz
1. More efficient distribution systems around the world have led to:

A. increased world trade.
B. decreased world trade.
C. decreased international competition.
D. reduced standards of living around the world.
2. Your local newspaper has a story in its business section that reports that government spending will again exceed tax revenues. This means that the:

A. national debt will increase.
B. balance of payments will experience yet another deficit.
C. rate of inflation is likely to fall.
D. monetary policies pursued by the Fed have been too loose.
3. When corruption is present in the business environment of a country: A. leaders can threaten competitors and minimize competition.
B. factories are easier to build without a government permit.
C. this appears to have no effect on the creation of wealth.
D. laborers can make more money.
4. Foreigners sometimes comment on the ethnocentric attitudes of U.S. business people. This indicates that American business people:

A. follow the philosophy of "when in Rome, do as the Romans."
B. quickly accept the suggestions and ideas of others.
C. believe the American culture is superior to all others.
D. take pride in the many ethnic groups that make America a "melting pot." 5. When it comes to social responsibility, some people feel that "before you can do good, you must do well." This reflects a firm 's primary responsibility to their:

A. customers.
B. investors.
C. employees.
D. community. 6. Which of the following statements about the competitive environment is most accurate?

A. Firms that simply produce a quality product will almost always succeed in the competitive marketplace.
B. Traditional firms will be unable to successfully compete against the new Internet firms.
C. Firms that empower their employees will continue to perform poorly in the competitive environment.
D. To succeed, companies now have to offer both high-quality products and

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