BUSN 115 Week 4 MIDTERM 1. Question : (TCO 1) Employers provide tools and technology for their employees in order to: Question 2. Question : (TCO 1) Which of the following statements most accurately identifies a serious limitation of the free-market economic system? Question 3. Question : (TCO1)____________ is the amount a business earns over and above what it spends for salaries and other expenses. Question 4. Question : (TCO 1) The total value of final goods and services produced within a nation’s borders in a given year is known as that nation’s Question 5. Question : (TCO 4) Which of the following statements about the operation of a corporation is correct? Question 6. Question : (TCO 4) One reason limited liability companies have become so popular is that they: Question 7. Question : (TCO 2) All of the following are reasons why a business should be managed ethically except Question 8. Question : (TCO 2) Obeying the law is ________ ethical behavior Question 9. Question : (TCO 4) Todd and Jorge have considered starting their own business but are concerned about the possibility of losing their personal assets if the business fails. One way for both Todd and Jorge to avoid this risk would be to organize their firm as a Question 10. Question : (TCO 4) Erin developed a new type of exercise equipment she calls the Tush N’ Tone. After unsuccessfully searching for potential investors, she arranged a personal loan and borrowed additional money from her parents. Her willingness to continue believing in her idea and remain enthusiastic shows that Erin is: 1. Question : (TCO 2) Which of the following is the most important step to help improve America’s business ethics? Question 2. Question : (TCO 3) An unfavorable balance of trade occurs when the value of: Question 3. Question : (TCO 3) Last year the Bank of Plenty, Inc. made an all-out-effort to go paperless. The bank’s public relations arm promoted the strategy both internally and externally. Customers were strongly encouraged to utilize the bank’s online services for all their banking needs. Customers could sign up for local workshops where employees were dedicated to showing them how to navigate the bank’s new website and find the information they required. The bank’s initiative demonstrates: Question 4. Question : (TCO 3) Free trade between nations generally results in Question 5. Question : (TCO 4) As a high net worth individual, Allison searches for growth firms in need of additional funding to achieve their goals. In return for this ____________, Allison expects to assume ownership in the business. Question 6. Question : (TCO 2) International issues of social responsibility and ethical behavior are: Question 7. Question : (TCO 2) If management adopts Bo’s suggestion of reducing U-Scream Ice Cream’s charitable donations until profits stabilize, the company will essentially reduce its ___________. Question 8. Question : (TCO 3) Norvada is a small nation that has followed protectionist policies for many years. Which of the following would be an example of a nontariff barrier established by Norvada? Question 9. Question : (TCO 3) Global trade with China is: Question 10. Question : (TCO 1) Efficiency in distribution systems around the world has led to: Question 11. Question : (TCO 1) Explain what a stakeholder is. Give examples of the different types of stakeholders. Question 12. Question : (TCO 2) Identify and discuss the social responsibilities of a company, to three different stakeholder groups.
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