Question 1.  A(n) _____ is a framework of how a business intends to generate revenue.

• business model
• strategic management tool
• profitability analysis
• competitive advantage
• entrepreneurial mindset

Question 2. The _____ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products.

• finance
• logistics
• human resource
• purchasing
• sales

Question 3.  The _____ function of a business involves the recruiting, hiring, and support of its personnel.

• operations
• finance
• human resources
• accounting
• information technology

Question 4. When the number of competitors in a market is quite small, a situation known as _____ is created.

• monopoly
• monopsony
• oligopoly
• monopolistic competition
• pure competition

Question 5.  _____ is a steady rise in the average prices of goods and services throughout the economy.

• Recession
• Depression
• Deflation
• Inflation
• Arbitration

Question 6. _____ taxes are levied on earnings of individuals to help fund Social Security, Medicare, and unemployment compensation.

• Excise
• Payroll
• Sales
• Income
• Property

Question 7.  _____ intelligence involves reasoning, problem solving, memorization, and other rational skills.

• Cognitive
• Emotional
• Social
• Collaborative
• Networking

Question 8.  In order to be effective, a business goal should be _____.

• broadly defined
• measurable
• time unlimited
• remotely defined
• substantially high

Question 9.  The first step in managing organizational change is _____.

• monitoring continued progress of the change effort
• identifying the need for change
• reinforcing the changed behavior
• analyzing the forces acting against the change
• choosing the technique to be used in instituting the change

Question 10.  _____ limit the amount of particular goods that countries allow to be imported during a given year.

• Import subsidies
• Embargoes
• Import quotas
• Import tariffs
• Restrictive import standards

Question 11.  The _____ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies.

• World Trade Organization
• World Commerce Center
• European Union
• North American Free Treaty
• International Monetary Fund

Question 12.  _____ refers to buying goods or services from a supplier in another country.

• Franchising
• Importing
• Licensing
• Partnering
• Intermediating

Question 13. The use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market is called _____.

• a code of ethics
• whistle-blowing
• insider trading
• utilitarianism
• strategic CSR

Question 14. Which of the following statements is true regarding whistle-blowing?

• Whistle-blowing is the normal channel through which employees can address issues involving unethical or illegal behavior within their companies.
• Whistle-blowing refers to the use of unpublicized information that an individual gains from the course of his or her job to benefit from fluctuations in the stock market.
• Whistle-blowing occurs when employees share confidential company information with external agents for personal gain.
• The federal and state laws governing whistle-blowing are simple and clear, so that they can be easily used by employees and employers to navigate through.
• Although whistle-blowing is sometimes characterized as "ratting on" colleagues or managers, it has an essential function.

Question 15. Which of the following approaches to resolving ethical dilemmas advocates choosing the option that delivers the most good for the most people?

• Individual rights
• Utilitarianism
• Strategic CSR
• Sustainable development
• Kantian ethics