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BAM 105 BAM105 Challenge Examination Answers (CCU)

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BAM 105 Challenge Examination Answers

California Coast University

The price at which the quantity of goods demanded and the quantity of goods supplied areequal is referred to as ________ price. 
A(n) ________ occurs when the quantity supplied exceeds the quantity demanded. 
“Buyers will purchase more of a product as its price drops and less of a product as its price increases.” The situation being described is referred to as ________ 
Which of the following is NOT one of the elements required in private enterprise? 
U.S. agriculture is a good example of ________ 
Which of the following best de nes the term aggregate output? 
_______ refers to ethical or unethical behaviors by employees in the context of their jobs. 
An employee who discovers and tries to put an end to a company’s unethical, illegal or socially irresponsible actions by publicizing them is called ________ 
The ethical norm of ________ considers if the decision is fair. 
Which of the following groups is NOT considered an organizational stakeholder? 
According to analysts, who must take chief responsibility for educating employees about ethics? 
The current whistle-blower law stems from which of the following pieces of legislation 
A locally owned and operated restaurant is typically a(n) ________. 
_______ is the process of seeking business opportunities under conditions of risk. 
A major drawback of sole proprietorships is _______ 
Both sole proprietorship and partnerships lack ________ 
A(n) ________ is organized to operate like a corporation but is taxed like a partnership 
Kent Kauffman and Patrick McCormick have decided to start a landscaping business. One of the rst things that they do is sign the ________, which describes the investments and responsibilities of the partners and makes provisions for the allocations of pro ts and dissolution of the business. 
A company sending some of its own managers overseas to conduct business in a local of ce is practicing the international organization strategy of ________. 
A subsidy is a ________. 
Under ________, Canada, the United States and Mexico will gradually eliminate tariffs and all other trade barriers. 
Which of the following exists when a country can produce something more cheaply and/or of higher quality than any other country can? 
Which global arrangement most closely represents a partnership? 
The Oil Producing and Exporting Countries (OPEC) is an example of a ______ 
Which of the following refers to a person’s ability to think in the abstract, to diagnose and analyze different situations and to see beyond the present situation? 
Corporate culture ________. 
The purpose of ________ strategy is to determine what business or businesses a company will own and operate. 
Titles such as plant manager, operations manager and division manager designate which of the following levels of management? 
Which of the following managers depend most on conceptual skills? 
CFO and controller are titles associated with ________ managers. 
Decentralization is typical in companies that ________ 
All of the following are advantages of job specialization EXCEPT specialized jobs _________ 
Which of the following is NOT one of the four basic forms of organizational structure mentioned in the text? 
American Wood Products has three divisions. The Lumberjack division is involved in harvesting trees and transporting them to lumber mills. The Milling division transforms cut timber into dimensional lumber for building. The Paper Products division makes paper and cardboard from the remnants of the milling process. This is an example of ________ 
According to the text, Martha Stewart Living Omnimedia uses a(n) ________ structure to manage its lifestyle business. 
_______ refers to the sameness of product quality from unit to unit. 
_______ includes all activities involved in getting quality products into the marketplace. 
____________ is the evaluation of all work activities, materials ows and paperwork to determine the value that they add for customers. 
______ operations produce standardized products for mass consumption. 
A ________ is an activity that is performed regularly when conducting business. 
When Ford assembles parts into a Ford Explorer, it creates ________ utility. 
A good person-job t is a situation in which ________. 
When two people work part-time to share a single full-time job, it is referred to as ____ 
_____ re ects a person’s comfort level with relationships. 
According to Herzberg, recognition for a job well done is a _______ 
When a company pays rewards for desired behaviors in employees, it is using _____ 
In equity theory, the social comparison made by an employee relative to the treatment by the organization to others is similar to _______ 
According to Kotter, when creating an agenda, managers focus on _____ 
Transactional leadership is essentially the same as _______ 
To be an effective strategic leader, a manager needs to have an understanding of the organization’s ________. 
Managers at Adidas had a “hunch” that their sponsorship deal with the Yankees would be a good one. Their feelings were based on ______ 
Males tend to be more ________ than females in making decisions. 
Which of the following types of compensation are paid for time worked? 
Insurance for compensating workers injured on the job is called _____ 
______ represent attempts to recruit, hire and develop members of relevant protected classes. 
A ________ allows wage rates to be renegotiated during the life of a labor contract 
Cindy has identi ed the credentials, skills and abilities necessary for a database administrator in her organization. She will record this information in a(n) ___ 
Bill is able to quit his job at the pickle factory at anytime and without notice under the legal concept of _______ 
Groups of people with similar wants and needs are ______ 
____ are the qualities, tangible and intangible, that a company builds into its products. 
A promotional tactic for brand exposure in which characters in television, lm, music, magazines or video games use a real product with a brand visible to viewers is called ______ 
Selling the rights to place a brand name on products such as t-shirts is referred to as ________ brands. 
The satellite dish and home television shopping provide examples of changes to which of the following external environmental factors that affect marketing? 
Providing volunteer participants with new products to try and then asking them to share the information with their friends, family, co-workers and others in their social network is called ________ marketing. 
Once called “middlemen,” they are now known in marketing circles as _______ 
Companies that price their product low enough to attract a large number of buyers are likely pursuing a goal of ______ 
The amount added to a product’s cost to meet pro t targets is usually expressed as a percentage of ________. 
The value of agents and brokers lies in their knowledge of markets and their merchandising expertise. Which of the following do they also do? 
Which of the following is the rst stage in the buyer decision process? 
Pricing above the market plays on the common assumption that _____ 
______ allow outsiders limited access to a rm’s internal information systems. 
A(n) ________ is a system for transmitting and transforming data into information that can be used in decision-making. 
The application of electronic technologies for searching, sifting and reorganizing pools of data to uncover useful information is referred to as data _____ 
Computers are connected by numerous applications utilizing different communications protocols. Which of these is NOT an Internet protocol? 
______ is capable of gathering e-mail addresses, credit card numbers and passwords. 
Which statement is true regarding rewalls? 
____ offer accounting services to the public and are licensed at the state level. 
____ are costs, other than the cost of goods sold, incurred in producing a good or service. 
A ________ ratio measures a rm’s potential earnings. 
Cash transactions involved in buying and selling goods and services would be classi ed as cash ows from ________ on the statement of cash ows. 
Which of the following is the most commonly used liquidity ratio? 
______ is the ability of a rm to nance an investment through borrowed funds. 
At ________, deposits are only accepted from members who meet speci c quali cations, usually working for a speci c employer. 
The ________ is a United Nations agency consisting of about 150 nations that have combined resources to promote stable exchange rates, provide temporary short-term loans and serve other purposes. 
Which of the following is NOT a function of money? 
Which of the following is NOT part of the M-2 money supply? 
How many Federal Reserve Banks are there currently in the United States? 
T-notes are treasury securities that mature to face value within _________ 
Blink credit card technology is familiar in what form? 
_______ is often used for economic planning by businesses and government agencies. 
A stock’s ________ can be calculated by dividing total shareholders’ equity by the total number of shares of stock issued. 
New stocks and bonds are sold in the ________ market. 
A(n) ________ is an organization of individuals coordinated to provide an institutional setting in which stock can be bought and sold. 
________ investors will opt for no-risk U.S. Treasury Bills or intermediate-term, high-grade corporate bonds that rate low in terms of risk on future investments. 
A ________ is a formal pledge (an IOU) obligating the issuer to pay interest periodically and repay the principal at maturity (a preset future date) to the lender. 
A company is ripe for raiding when ________. 
A ________ is a division of stock that gives stockholders a greater number of shares but does not change each individual’s proportionate share of ownership. 
“I am a chemist with the nation’s largest chemical company. We have secretly developed a cure for three of the world’s most serious epidemics. Before this news breaks out, I’m going to buy as many shares of stock in my company as I can get my hands on. Then I’ll sit back and watch the stock price head for the sky.” The person making this statement is about to engage in ________. 

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