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Test Bank For Business Essentials, 12th Edition. Ronald J. Ebert. Ricky W. Griffin Updated 2022
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Test Bank For Business Essentials, 12thEdition. Ronald J. Ebert. Ricky W.
Griffin
,Business Essentials, 9e (Ebert/Griffin)
Chapter 1 The U.S. Business Environment
MGT 100 Exam 1
Question: Q11. The global business environment encompasses many international
forces that influence the outcomes of companies doing business in foreign countries.
Which of the following scenarios would best count as evidence of globalization?
Correct Answer: b. A natural disaster disables factories in Country X that produce
computer chips for Company Y. Company Y reduces the number of employee shifts and
raises the price of its products.
Given Answer: c. Farmers in Country X have lost most of their wheat crops due to
a drought. The market price for wheat triples and the government pays the farmers for a
percentage of the lost wheat.
Question: Q14. A city of 150,000 people has a large commercial sector bringing in
businesses from the surrounding region. In 2010, there was 2.75 million square feet of
commercial space available. Five years later, after a building boom, there was 5.5 million
square feet of commercial space available. Which effect will most likely occur?
Correct Answer: c. The price of commercial real estate will decrease, absent a
dramatic increase in demand.
Given Answer: e. The increase in supply will cause a corresponding increase in
demand.
Question: Q26. The CEO of Perry's Pizzeria, a rapidly growing restaurant chain, is
committed to a high level of corporate social responsibility along with continued business
success. Which action by the CEO would most enhance the company's reputation for
social responsibility?
Correct Answer: a. using more nutritious, but more expensive, ingredients
Given Answer: e. taking steps that would cause competitors to close their doors
MGT 100 Exam 2
Question: Q12. What type of departments is linked to the production and sales of
specific products?
Correct Answer: c. line departments
Given Answer: e. entrepreneurial departments
Question: Q15. Which of the following organizational systems is represented by
organization chart and the formal assignment of authority?
Correct Answer: b. formal organization
Given Answer: c. informal organization
Question: Q23. Positive reinforcement is used when a company or manager provides
a reward when employee exhibit desired behaviors.
Correct Answer: a. True
. 18:36
,Given Answer: b. False
MGT 100 Exam 4
Question: Q10. Greg feels comfortable that no one can open and read his e-mails.
What does Greg have installed in his computer?
Correct Answer: c. encryption software
Given Answer: d. a Trojan horse
1) The customs, values, and demographic characteristics of the society in which an
organization functions are the principal elements of the political-legal environment.
Answer: FALSE
Explanation: These are the main considerations of the sociocultural environment. The
political-legal environment reflects the relationship between business and government,
usually in the form of government regulation of business.
Page Ref: 5
Difficulty: Easy
Objective: 1.2
Learning Outcome: Compare and contrast different economic systems
Skill: Concept
2) Physical resources include the data and other information used by businesses.
Answer: FALSE
Explanation: Physical resources are the tangible resources that organizations use to
conduct their business such as natural resources, raw materials, offices, storage and
production facilities, parts and supplies, computers and peripherals, and a variety of other
equipment.
Page Ref: 8
Difficulty: Easy
Objective: 1.3
Learning Outcome: Identify the different types of technologies used in business and
describe their uses
Skill: Concept
3) Economic systems differ in how factors of production are used.
Answer: TRUE
Explanation: Different types of economic systems manage the factors of production
differently. In capitalism, for instance, they are managed by private individuals with
capital resources, while in a command economy the government manages the factors of
. 18:36
, production.
Page Ref: 9
Difficulty: Easy
Objective: 1.3
Learning Outcome: Compare and contrast different economic systems
Skill: Concept
. 18:36
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