商概期末500道选择题

CH011. What are profits?A. total money taken in by a corporationB. difference between revenues and expensesC. increases in a corporation's stock priceD. increases in income from year to yearE. none of the above2. A(n) ____ is a nation’s basis for allocating its resources among its citizens.A. capital structureB. economic systemC. distribution networkD. ownership systemE. none of the above3.The key difference between economic systems is the different ways in which they manage theA. factors of production.B. transportation of goods within their borders.C. governmental rules and regulations.D. payment of workers.E. forests and lakes.4. A(n) ___is an individual who accepts the risks and opportunities entailed by creating and operating a new business.A. directorB. proprietorC. entrepreneurD. partnerE. officer5.Which of the following is NOT an example of physical resources?A. market forecastsB. office facilitiesC. computersD. production facilitiesE. land6. A planned economy relies on a centralized government toA. support free enterprise in every way possible.B. control all or most factors of production.C. encourage citizens to buy shares of stock in small corporations.D. keep its control activities to a minimum.E. none of the above7. Which of the following is identified by the textbook as being a communist nation?A. VietnamB. Sri LankaC. IndonesiaD. MalaysiaE. Iraq8. In a(n) ___market, firms buy resources from suppliers.A. supplyB. inputC. outputD. buyerE. open9. Ford Motor Company sells its cars and trucks in a(n)A. output marketB. input market.C. supply market.D. selling market.E. open market10. Which economic system provides for the private ownership of the factors of production and also encourages entrepreneurship by offering profits as an incentive?A. socialismB. communismC. fascismD. state medical planE. capitalism11.The process of converting government enterprises into privately owned firms is calledA. supply.B. demand.C. privatization.D. socialism.E. communism.12.Which of the following responses best defines the term demand?A. willingness and ability of buyers to purchase a product, good, or serviceB. an inner desire that must be satisfiedC. an order given to a supplier of amuch-needed productD. a want and need felt by the consuming public in a free-market systemE. none of the above13."Buyers will purchase (demand) more of a product as its price drops and less of a product as its price increases." This is referred to asA. the buyers' code of conduct.B. the eternal purchase guideline.C. the "asking factor."D. the law of demand.E. the greater sucker theory.14. Which statement below best states the law of demand?A. As the price goes up, I like it better.B. When I want it, price makes no difference to me.C. As the price goes down, I like it better.D. Good advertising affects my desire for a product more than price.E. Well over 90 percent of shoppers pay no attention to price15. Under the law of demand, which situation sketched below will be accompanied by more purchasing of a product?A. the consumer's need for the productB. lowering the price of the productC. raising the price of the product as an indication that it is hign qualityD. the so-called "popularity" of the productE. the knowledge that possessing such a product can add to a person's positive image16.A ____shows how many of a given product will be demanded at different prices.A. demand curveB. supply curveC. price listD. price controlE. none of the above17. When plotted on the same graph, the supply curve and the demand curve will normallyA. run parallel to one another.B. one curve point up, one curve point downC. cross one another at some point.D. be far apart due to the "eruption factor"known for years in supply and demand.E. get closer together as demand increases,but never intersect.18. The price at which the quantity of goods demanded and the quantity of goods supplied are equal is referred to asA. the equilibrium price.B. consumer equality price.C. the deal maker price.D. the motion point price.E. market equality price.19.In the city of Westminster, market analysts have observed that all Christmas trees offered for sale will be purchased at a price of $20.00 and all demand will be satisfied. In this market, $20.00 is theA. equilibrium price.B. demand price.C. supply price.D. enterprise price.E. margin price.20. In the city of Westminster, Christmas trees are being sold for $25.00. At this price, all trees are buyers are able to satisfy their demand and some trees remain unsold. This is the market condition known asA. demand deficit.B. stoppage.C. supply deficit.D. shortage.E. surplus.21. When the quantity demanded exceeds the quantity supplied, a ____ will result.A. demand deficitB. stoppageC. equilibrium pointD. shortageE. surplus22. Of the following statements, which best captures the notion of private enterpriseA. Individuals pursue their own interests without government restriction.B. Certain business activities are to remain "private."C. Businesses can do anything they want, free of any legal restraints.D. Small businesses will do better than big businesses.E. None of the above.23. Which of the following is NOT one of the four elements required in private enterprise?A. private property rightsB. stability of cash flowC. freedom of choiceD. profitsE. competition24. In perfect competition, which of the following conditions must prevail?A. All firms in a given industry must be small.B. The number of firms in the industry must be large.C. The products offered by the firms are so similar that buyers can't tell the difference.D. All of the above are true.E. None of the above are true.25. Which of the following is NOT characteristic of perfect competition?A. many firms in industryB. firms are smallC. great similarity among products offered by different firmsD. easy entry into the industryE. products from different firms are easily differentiated from one another26. In the United States, milk is produced on thousands of farms, with no producer dominating the market. Producers sell milk at the going price and are unable to influence this price. Millions of gallons of milk are purchased every day. The market for milk is best described asA. a monopoly.B. an oligopoly.C. perfect competition.D. monopolistic competition.E. passive competition.27. Of the following, which is a way in which monopolistic competition differs from perfect competition?A. There are more sellers in a market characterized by monopolistic competition.B. It is easier for sellers to enter a market/industry characterized by monopolistic competition.C. In a perfectly competitive market, products are more dissimilar.D. In a market characterized by monopolisticcompetition, individual firms have somecontrol over price.E. None of the above.28. __________ exists when an industry has only a handful of sellers, most of which are large.A. A monopolyB. An oligopolyC. Perfect competitionD. Monopolistic competitionE. None of the above29. Which of the following is NOT true of an oligopoly?A. Competing firms have very similar prices for products.B. There are few sellers.C. Prices differ greatly among sellers.D. Entry into the industry is difficult.E. The actions of one firm will significantly affect the sales of other firms.30.In an oligopoly, when one firm reduces its prices, how do the other members of the oligopoly react?A. There is no reaction--usually.B. Others reduce theirs also--usually quite quickly.C. Others may reduce their prices, too, but only very, very gradually.D. Other companies are not even aware that a change in price has taken place.E. None of the above.31.Which of the following seems the most likely pricing approach for a monopoly?A. Charge customers whatever you please.B. Give customers a real bargain on price.C. Charge a price that will not cause consumer demand to drop.D. Undercut the prices of the competition.E. Concentrate on quality and service, and not on price.32.Which of the following is an example of a natural monopoly?A. automobilesB. sporting goodsC. motion picturesD. electric companiesE. airlines33.___ refers to the total quantity of goods and services produced by an economic system during a given period.A. The business cycleB. Aggregate outputC. The standard of livingD. The consumer price indexE. The national debt34.Increases in an economic sys tem’s standard of living results primarily from increases inA. balance of tradeB. real GNP.C. productivity.D. nominal GDP.E. imports.35.A nation’s ____is the economic value of all of the products that a company exports minus the economic value of its imports.A. standard of livingB. balance of tradeC. balance of paymentsD. national debtE. none of the above36.The chief goal of an economic system isA. stability.B. growth.C. productivity.D. equality.E. freedom of choice.37.Which of the following statements about inflation is true?A. The Consumer Price Index is a good way of measuring inflation.B. Inflation decreases the purchasing power of consumer dollars.C. Inflation increases the purchasing power of consumer dollars.D. Both a and bE. None of the above.38.Which of the following is NOT a potential result of low unemployment?A. increased prices for productsB. decreased purchasing powerC. decreased profit marginsD. economic stabilityE. all are potential results of low unemployment39.A nation manages the collection and spending of its revenues through____ policy.A. fiscalB. monetaryC. militaryD. welfareE. Congressional40.Taken together, fiscal policy and monetary policy make up ___ policy.A. economicB. financialC. militaryD. welfareE. stabilization41.The energy crisis in California was largely a result of increased regulation of utility companies.对错42. The legitimate right to pursue profits distinguishes a business from organizations such as universities, hospitals, and government agencies对错43. Land, labor, capital, and entrepreneurship are the four traditional factors of production.对错44. A planned economy relies on a centralized government to control all or most of the factors of production and to make all or most production and allocation decisions.对错45. When the quantity demanded exceeds the quantity supplied, a surplus exists.对错46. As a rule, in perfect competition there will be very few sellers.对错47. In an oligopoly, the entry of new competitorsis hard because large capital investment isneeded.对错48. Gross Domestic Product (GDP) refers to the total value of goods and services produced by a national economy within a given period regardless of where the factors of production are located.对错49. The consumer price index measures prices of typical products used by consumers in urban areas.对错50. The purpose of monetary and fiscal policy is to smooth out fluctuations in output and unemployment and to stabilize prices.对错CH021.Behavior that conforms to individual beliefs and social norms about what is right and good is referred to asA. collusion.B. check kiting.C. social reaction.D. ethical behavior.E. GAAP2.Ethics are based on individual beliefs and social concepts and vary fromA. person to person.B. situation to situation.C. culture to culture.D. all of the above.E. none of the above.3.A(n) ____ occurs when an activity may benefit the individual to the detriment of his or her employer.A. agency disputeB. loss leaderC. conflict of interestD. ethical dilemmaE. ethics code4.A firm’s customers, competitors, stockholders, suppliers, dealers, and unions are consideredA. fiduciaries.B. investors.C. sphere of influence.D. primary agents of interest.E. extended community.5.Save-a-Bunch Hardware has doubled its prices for plywood and other building supplies after a tornado strikes the area. Save-a-Bunch Hardware is likely guilty ofA. price gouging.B. price lining.C. maximization.D. price fixing.E. collusion.6.T he Brazilian term _________ means “to finda way.”A. pesoB. jeitinhoC. cartelD. anovaE. pelisse7.When evaluating a decision based on the ethical norm of utility, a manager will consider which of the following questions?A. Is the decision consistent with what we regard as fair?B. Does the decision respect the rights of the individuals involved?C. Is the decision consist ent with people’s responsibilities to each other?D. Does the decision optimize what is best for those who are affected by it?E. None of the above.8.When evaluating a decision based on the ethical norm of rights, a manager will consider which of the following questions?A. Is the decision consistent with what we regard as fair?B. Does the decision respect the rights of the individuals involved?C. Is the decision consistent with people’s responsibilities to each other?D. Does the decision optimize what is best for those who are affected by it?E. None of the above.9.The most effective step that a company can take to promote ethical behavior is toA. conduct frequent comprehensive audits ofall financial information.B. have employees sign a code of conduct upon hiring.C. monitor employee behavior on an ongoing basis.D. demonstrate top management support of ethical standards.E. publicize efforts to become more ethical.10.Through ____, companies formally acknowledge their intent to do business in an ethical manner.A. government regulationsB. EEOC guidelinesC. codes of ethicsD. blue sky lawsE. mission statements11.Software developed by Tumbleweed CommunicationsA. encrypts email messages so that only intended recipients can view them.B. creates a digital backup of email attachments.C. searches for banned words and blocks transmission of emails.D. all of the above.E. both a and c.12. The way in which a business tries to balance its commitments to groups and individuals in its social environment is calledA. business ethics.B. socialization.C. corporate responsibility.D. social responsibility.E. government regulation.13.Which of the following groups is NOT considered an organizational stakeholder?A. employeesB. investorsC. customersD. suppliersE. all of the above are organizational stakeholderspanies such as MBNA, 3M Corporation, Continental Airlines, Hoecsht Celanese, and Southwest Airlines have reputations for demonstrating a high level of social responsibility toA. the investors.B. local communities.C. their employees.D. their customers.E. their suppliers.15.The economic turmoil of the ____ led to new laws that described an expanded role for businesses in protecting and enhancing the general welfare of society.A. Great DepressionB. Middle AgesC. Era of Social ActivismD. Colonial EraE. Entrepreneurial Era16. ____ are waste industrial gases that trap heat in the atmosphere.A. ByproductsB. ExajoulesC. Greenhouse emissionsD. Energy suppliesE. Acid rain17.Under the Intergovernmental Panel on Climate Change's "worst-case" scenario for world-wide climate changes, we would find a(n)A. decrease in the number of hurricanes.B. decrease in the number of hurricanes.C. decrease in severe winter weather.D. decrease in energy supplies.E. decrease in water consumption.18.Carbon monoxide emitted by automobiles contributes toA. land pollution.B. air pollution.C. noise pollution.D. kiting.E. consumption.19.Much of the damage to forests and streams in the eastern United States and Canada has been attributed to acid rain originating in sulfur from manufacturing and power plants inA. Canada.B. the midwestern United States.C. Mexico.D. Europe.E. the rain forests of Brazil.20.Which of the following types of wastes can be separated and used as fuels in industrial boilers?A. phosphatesB. acid rainC. combustibleD. carbon dioxideE. chloride21.Dangerous chemical and/or radioactive byproducts of manufacturing processes are calledA. green rain.B. phosphates.C. exajoules.D. toxic wastes.E. spreaders.22.The reconversion of waste materials into useful products is referred to asA. acid rain.B. manufacturing.C. solidifying.D. recycling.E. proliferating.23.Which of the following organizations enforces guidelines for labeling food products?A. Securities and Exchange Commission (SEC)B. Central Intelligence Agency (CIA)C. Food and Drug Administration (FDA)D. Federal Communication Commission (FCC)E. Federal Trade Commission (FTC)24.Which of the following has NOT been identified as a basic consumer right?A. Consumers have a right to safe products.B. Consumers have a right to low prices.C. Consumers have a right to be informed about a product.D. Consumers have a right to be heard.E. Consumers have a right to choose what they buy.25.Responding to increased demand with overly steep, and often unwarranted, price increases is calledA. price fixing.B. price matching.C. unit pricing.D. segmentation pricing.E. price gouging.26.A company that provides its employees with equal opportunities for rewards and advancement without regard to race, sex, or other relevant factors is meeting itsA. legal responsibility.B. social responsibility.C. affirmative responsibility.D. all of the above.E. both a and b.27.An employee who detects and tries to put an end to a company's unethical, illegal and/or socially irresponsible actions by publicizing them is referred to as a(n)A. buyers’ agent.B. whistle-blower.C. investor.D. corporate manager.E. government inspector.28.Whistle-blowers generally receive __ of what the government collects.A. 50 percent to 60 percentB. 10 percent to 20 percentC. 25 percent to 30 percentD. 5 percent to 10 percentE. none29.Writing a check against money that has notyet arrived at the bank upon which it is drawn iscalledA. insider trading.B. GAPP financing.C. shorting the bank.D. margin purchasing.E. check kiting.30.In maintaining and reporting its financial status, every corporation must conform toA. corporate rules.B. the FDA.C. GAAP.D. insider information.E. AACSP.31.Firms that have adopted a(n) _____ stance to social responsibility have little regard for ethical conduct and will generally go to great lengths to hide wrongdoing.A. accommodativeB. obstructionistC. proactiveD. defensiveE. societal32.A(n) ___stance to social responsibility occurs when a company meets only the minimum legal requirement in its commitments to groups and individuals in its social environment.A. accommodativeB. obstructionistC. proactiveD. defensiveE. societal33.In a(n) ___ stance to social responsibility, a company actively seeks opportunities to contribute to the well being of groups and individuals in its social environment.A. accommodativeB. obstructionistC. proactiveD. defensiveE. societal34. Which of the following is NOT a step mentioned by the authors of your textbook to foster a company wide sense of social responsibility?A. Social responsibility must start at the top.B. A committee of top managers must develop a plan.C. Governmental initiatives dictate starting a plan.D. Governmental initiatives dictate starting a plan.E. The organization must conduct occasional social audits.35.Samuel Waksal faces additional charges for inappropriate use of a ___to buy 350,000 shares of stock for collateral on two loans.A. contractB. proxyC. warrantD. tradeE. organization36. Ethical behavior is behavior that individualbeliefs and social norms define as beingwrong and bad.对错37. What constitutes ethical and unethicalbehavior is determined partly by theindividual and partly by culture.对错38. A manager who discriminates against African Americans in hiring exhibits both unethical and illegal behavior.对错39. Ethical standards relating to business practices are fairly consistent around the world 对错40. The ethical norm of utility evaluates whetherthe decision is consistent with cultural standards of fairness. 对 错 41. The single most effective step a company can take to encourage ethical behavior is top management support. 对 错 42. Social responsibility refers to a business’ obligation to make decisions that benefit consumers 对 错43. Because of better customer service, largebanks have outperformed smaller banks in recent years 对 错 44. In response to the economic turmoil of the Great Depression, the government deregulated most business activity 对 错 45. Much of the damage to forests and streams in the eastern U.S. and Canada has been attributed to acid rain originating in sulfur from manufacturing and power plants in the Midwestern United States 对 错 46. American Home Products failed to inform consumers about the linkage between Pondimin and heart-valve disease. 对 错 47. Most people believe that a company’s social responsibility to employees goes beyond compliance with employment laws, such as equal employment opportunity and family leave 对 错 48.Insider trading occurs when someone uses public information to gain from the purchase or sale of stocks. 对 错49. Companies adopting an accommodative stance to social responsibility do as little as possible to solve social or environmental problems and may deny or cover up violations. 对 错 50. Small businesses must answer the same social responsibility questions as big businesses. 对 错 CH03 1.A locally owned and operated restaurant is typically a(n) A. monopoly. B. oligopoly. C. competitor. D. small business. E. corporation. 2.The SBA bases its definition of small businesses on A. number of suppliers. B. annual net income after taxes. C. number of employees. D. total annual sales. E. both c and d.3.Approximately ____of all U.S. businesses employ 20 or fewer people.A. 86 percentB. 59 percentC. 38 percentD. 19 percentE. 14 percent 4.Most of the products made by big manufacturers are sold to consumers by A. large retailers. B. large wholesalers. C. small businesses.D. large discount stores.E. middlemen.5.Which of the following industry groups is the fastest growing segment of small business enterprise?A. manufacturingB. wholesalingC. retailingD. servicesE. agriculture6.Which of the following forms of businesses buy products from manufacturers or other producers and then sell them to retailers?A. retailersB. wholesalersC. service firmsD. agriculture storesE. all of the above7.Because of the investment normally required in equipment, energy, and raw materials, a good deal of money is usually needed to start a(n)A. manufacturing business.B. retailing business.C. service business.D. agriculture business.E. wholesaling business.8.Jack Matz starts a photocopying business near a local university. His goal is to earn enough money to lead a comfortable life and retire in ten years. Matz has no plans to grow or expand. Jack Matz is a(n)A. entrepreneur, yet not a small business owner.B. entrepreneur and a small business owner.C. small business owner, yet not an entrepreneur.D. partner.E. limited partnership.9.New businesses need a(n) ____ to estimate the required size of a plant, store, or office; to decide how much inventory to carry; and how many employees to hire.A. revenue forecastB. financial planC. objectiveD. cash budgetE. credit report10.Which of the following are reasons provided by the authors of your textbook for buying an existing business rather than starting a new one from scratch?A. better odds of successB. proven ability to draw customersC. established working relationshipsD. an established track recordE. all of the above11.Of the new businesses started in the past decade, what percent were started from scratch?A. 15 percentB. 27 percentC. 64 percentD. 98 percentE. 82 percent12.Which of the following sources of funds are usually relied on by individuals starting up new businesses?A. bond marketsB. stock marketsC. capital marketsD. personal resourcesE. lending institutions13.Which of the following are federally licensed to borrow money from the SBA to invest in or lend to small businesses?A. SECB. SBICsC. USDAD. UNESCOE. Unit Investment Trusts14.Under the ____program, sponsored by the SBA, a small business can borrow from a commercial lender.A. SBDC programB. guaranteed loans programC. local development company programD. MESBIC company programE. advisory program15.Under the ___, the SBA works with a corporation founded by local citizens who want to boost the local economy to finance the small business, with the SBA's share not to exceed $500,000 for each small business.A. guaranteed loans programB. immediate participation loans programC. venture capital subsidy programD. local development companies programE. long-term progressive loan program16.McDonald's, Taco Bell, and Subway are examples of a(n)A. government entity.B. university sponsored business.C. franchise.D. networking business.E. mom and pop operation.17.Under a franchise arrangement, the buyer is called theA. franchisee.B. franchiser.C. bank.D. parent company.E. wholesaler.18.Which of the following is the most significant disadvantage of franchising?A. high startup costsB. increased chance of failureC. difficulty in obtaining financingD. lengthy contractsE. lack of managerial skills19.Which of the following is the most significant recent trend dealing with new businesses?A. entrepreneurs who cross over from big businessB. increased opportunities for minoritiesC. increased opportunities for womenD. new opportunities in global enterpriseE. emergence of e-commerce20.The number of black-owned businesses has increased by ____ over the past five-year period.A. 10 percentB. 25 percentC. 46 percentD. 60 percentE. 76 percent21.According to SBA estimates, roughly ___ of all new businesses can expect to survive for six years.A. 10 percentB. 20 percentC. 40 percentD. 70 percentE. 90 percent22.Which of the following factors contribute to small business failure?A. managerial incompetence or inexperienceB. neglectC. weak control systemsD. insufficient capitalE. all of the above23.Which of the following legal forms of business is owned and usually operated by one person who is responsible for its debts?A. corporationB. general partnershipC. sole proprietorshipD. monopolyE. cartel24.The most important benefit of sole proprietorships isA. failure.B. freedom.C. lack of privacy.D. no liability.E. lower risk.。