If a country imports more than it exports, its balance of trade is said to be favorable.

Seaport Bus 100 Mid-term Quiz


Question 1: If a country imports more than it exports, its balance of trade is said to be favorable.

Question 2: Corporate culture has little real influence on the performance of a firm.

Question 3: Accounting and investments are specialized areas within financial management.

Question 4: Middle managers implement the strategy developed by top management.

Question 5: In support of their position, proponents of the socioeconomic model argue that businesses should be allowed to ignore social issues.

Question 6: A working knowledge of our business system combined with technical skills can give an applicant an advantage in looking for a job.

Question 7: Information on evolving technologies, industry staffing practices, projected economic trends, the particular company’s future business ventures, new products, and projected expansions or contractions of certain product lines can be helpful in predicting.

Question 8: There are six steps involved in the task of organizing a firm’s structure.

Question: Blowfish Fisheries is considering hiring Hispanics to ensure the success of its newest products, blowfish enchiladas. The company expects that the additional cultural viewpoints will provide it with ___________________.

Question 9: When Serena from the United States flies to Scotland on a Canadian airline, stays in an Edinburgh hotel, and buys many wool sweaters from Scotland to bring home, she is

Question 10: President Franklin D. Roosevelt declare that consumers are entitled to safety, to be informed, to choose, and to be heard.

Question 11: A general partner is responsible for any debts of the partnership regardless of whether he or she was directly involved in the transaction that created the debt.

Question 12: A task force is a committee responsible for investigating a major problem or pending decision.

Question 13: Human resources management consists of or includes all activities involved in acquiring, maintaining, and developing an organization’s human resources

Question 14: Consumer advocates, such as Ralph Nader, take it upon themselves to protect the rights of consumers.

Question 15: Money invested in small firms with the potential to become very successful is known as venture capital.

Question 16: Lois walked into ABC Company to pick up an application for a secretarial job. When she asked about the duties and working conditions, the busy receptionist handed her a document that gave her a clear picture of the position. The receptionist gave Lois a job ______________.

Question 17: Atlas Company pays workers $500 for recommendations that result in a hiring. In two years, the company has hired at least forty people through this program. Atlas Company is fulfilling its employment needs by using __________ as a recruiting source.

Question 18: The Kingdom of Mocha enjoys no absolute advantage in crude oil, diamonds, or wool. However, the Mochans manufacture high-quality bows and arrows. Which statement about the Mochans is true?

Question 19: The company you work for recently has committed itself to implementing a program of social responsibility. After the company has gotten the commitment of top executives, planned the program, and appointed a program director, you suggest that a (n) __________________ be prepared periodically to evaluate the success of the program.

Question 20: It is important for a manager to understand the ________ of subordinates in order to encourage effective performance.

Question 21: A group of similar products that differ only in relatively minor characteristics is called _________ :

Question 22: ______________ is a necessary and extremely important by-product of free enterprise.

Question 23: In the mid-1970’s, American auto manufacturers produced big gas-guzzling cars and tried to sell them to consumers who needed fuel-efficient transportation. This happen because manufactures

Question 24: Which one of the following is the most likely example of a production industry?

Question 25:A large computer manufacturer forbids its executives and managers from serving as directors or officers for Intel Corporation or any other corporations from which it might purchase component parts. The company is trying to prevent

Question 26: The simplest form of business owned and operated by one person is called a _________.

Question 27: The results of an evaluation should be discussed with an employee soon after the evaluation is completed

Question 28: Michael Tucker operates Tucker Farms in northern Illinois. Last year his annual receipts were just under $750,000. According to the Small Business Administration Tucker Farms is a

Question 29: The partner who can lose only what he/she has invested in a business is the

Question 30: The 1998 annual report for Sears shows that, since 1978, it has experienced dramatic changes in the composition of its workforce. Sears has increased the number of women, blacks, and Hispanics in all job categories, including managerial, technical, and sales positions. This increase is most likely due to the company’s ____________

Question 31: The Acme Toy Company introduced a new electric train, the Silver Bullet, in its Christmas catalog last year. Within four days of the catalog’s mailing date, Acme had received phone orders for its entire inventory of trains. Mike Wright, the sales manager responsible for the Silver Bullet, was delighted with the product’s success. However, his excitement was overshadowed by the _________ cost resulting from lost sales that his division would suffer.

Question 32: Small businesses are typically managed by

Question 33: An executive at a U.S. steel company uses growth in gross domestic product as one way to develop trends in industry steel use, so he records GDP change for each year on a graph. However, the executive’s figures are considerably higher than those of the staff economist, who also has drawn a graph. This difference is most likely the result of

Question 34: To qualify as a small business, a manufacturing plant can employ no more than _______ people.

Question 35: The fact that insulin and xerography both originated with individual inventors and small companies is testimony to the poser of small businesses as providers of

Question 36: Carl Smith overheard that Joe Dunn was blowing the whistle on managers at XYZ Company and that a full story would appear in Sunday’s paper. Carl quickly alerted the managers, who were able to stop the newspaper from printing the article. This is an example of managers’

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