BUS100- Quiz 3
Content
User | Daryl C. Limneos | Course | Intro To Business | Test | Quiz 3 | Started | 1/27/12 1:38 PM | Submitted | 1/27/12 2:32 PM | Status | Completed | Score | 100 out of 100 points | Time Elapsed | 53 minutes out of 2 hours. | Instructions | This quiz consist of 20 multiple choice questions. The first 10 questions cover the material in Chapter 3. The second 10 questions cover the material in Chapter 4. Be sure you are in the correct Chapter when you take the quiz. |

Question 1
5 out of 5 points | | | If trade restrictions among nations were eliminated:Answer | | | | | Selected Answer: | competition would increase, resulting in lower prices and increased choices for consumers. | Correct Answer: | competition would increase, resulting in lower prices and increased choices for consumers. | | | | |
Question 2
5 out of 5 points | | | Trading blocs are groups of countries:Answer | | | | | Selected Answer: | that have reduced or eliminated tariffs allowing for a free flow of goods among member nations. | Correct Answer: | that have reduced or eliminated tariffs allowing for a free flow of goods among member nations. | | | | |
Question 3
5 out of 5 points | | | In countries like China and India, the availability of cell phones:Answer | | | | | Selected Answer: | has enabled these nations to greatly improve telecommunications without investment in conventional landlines. | Correct Answer: | has enabled these nations to greatly improve telecommunications without investment in conventional landlines. | | | | |
Question 4
5 out of 5 points | | | When the total value of exports is higher than the total value of imports, a country experiences a _____Answer | | | | | Selected Answer: | trade surplus. | Correct Answer: | trade surplus. | | | | |
Question 5
5 out of 5 points | | | Foreign _____ is contracting with foreign suppliers to produce products usually at a fraction of the cost of domestic productionAnswer | | | | | Selected Answer: | outsourcing | Correct Answer: | outsourcing | | | | |
Question 6
5 out of 5 points | | | Sociocultural differences to consider when entering a foreign market include:Answer | | | | | Selected Answer: | language, attitudes, and values. | Correct Answer: | language, attitudes, and values. | | | | |
Question 7
5 out of 5 points | | | A(n) _____ is an agreement among two or more two companies to join forces to pursue specific opportunities without actually merging their operations.Answer | | | | | Selected Answer: | joint venture | Correct Answer: | joint venture | | | | |
Question 8
5 out of 5 points | | | The purpose of the General Agreement on Tariffs and Trade (GATT) was to _____Answer | | | | | Selected Answer: | encourage worldwide trade. | Correct Answer: | encourage worldwide trade. | | | | |
Question 9
5 out of 5 points | | | The _____ expresses the value of one nation’s currency in terms of another nation’s currency.Answer | | | | | Selected Answer: | exchange rate | Correct Answer: | exchange rate | | | | |
Question 10
5 out of 5 points | | | When a government places a total restriction on trade with a particular nation with the intention to pressure the targeted country to make political changes this is an example of a(n):Answer | | | | | Selected Answer: | embargo. | Correct Answer: | embargo. | | | | |
Question 11
5 out of 5 points | | | The goal of _____ is to meet the needs of the current generation without harming the ability of future generations to meet their needs.Answer | | | | | Selected Answer: | sustainable development | Correct Answer: | sustainable development | | | | |
Question 12
5 out of 5 points | | | A social audit is a systematic evaluation of:Answer | | | | | Selected Answer: | how well a firm is meeting its ethical standards and social responsibility goals. | Correct Answer: | how well a firm is meeting its ethical standards and social responsibility goals. | | | | |
Question 13
5 out of 5 points | | | When a company designs a product to fail in order to shorten the time between consumer repurchases. This practice is referred to as:Answer | | | | | Selected Answer: | planned obsolescence. | Correct Answer: | planned obsolescence. | | | | |
Question 14
5 out of 5 points | | | Deliberately designing a product to fail in order to shorten the time between consumer purchase and repurchase is known asAnswer | | | | | Selected Answer: | planned obsolescence. | Correct Answer: | planned obsolescence. | | | | |
Question 15
5 out of 5 points | | | A(n_____ is the systematic evaluation of how well a firm is meeting the goals of ethics and social responsibility.Answer | | | | | Selected Answer: | social audit | Correct Answer: | social audit | | | | |
Question 16
5 out of 5 points | | | _____ is visible when companies contribute to the well-being of society.Answer | | | | | Selected Answer: | Social responsibility | Correct Answer: | Social responsibility | | | | |
Question 17
5 out of 5 points | | | A nation’s legal system provides businesses with _____ when they establish a code of ethics.Answer | | | | | Selected Answer: | a starting point | Correct Answer: | a starting point | | | | |
Question 18
5 out of 5 points | | | _____ are the moral principles that govern behavior, while a/an _____ occurs when the behavior results in a choice among alternatives, each of which has negative consequences.Answer | | | | | Selected Answer: | Ethics, ethical dilemma | Correct Answer: | Ethics, ethical dilemma | | | | |
Question 19
5 out of 5 points | | | The function of laws in the United States is to establish and enforce _____ that apply to everyone in society.Answer | | | | | Selected Answer: | ethical norms | Correct Answer: | ethical norms | | | | |
Question 20
5 out of 5 points | | | One way Kraft demonstrated its commitment to socially responsible policies was byAnswer | | | | | Selected Answer: | pledging to stop advertising unhealthy foods to children. | Correct Answer: | pledging to stop advertising unhealthy foods to children. | | | | |