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Business Management Spring Teks Review
Test Description: This review will assist with preparing for the spring Teks test for Businesss Management
Instructions: Answer all questions to get your test result.
1) The international organization that creates and enforces the rules governing trade among countries?
A
NAFTA
B
EU
C
Trading Bloc
D
WTO
2) The North American Free Trade Agreement (NAFTA) is a free-trade agreement between?
A
Canada, USA, Iceland
B
Canada, USA, Mexico
C
USA, France, Britain
D
Mexico, Honduras, Asia
3) _____________ is the selling of goods in a foreign market at a price lower than cost or below what it charges in the home market.
A
Embargo
B
Non-tariff barriers
C
Sanctions
D
Dumping
4) An American dollar is equal to 80 Japanese yen. A camera made in Japan for 8,000 yen would sell in the United States for ____________ dollars.
A
1000
B
100,000
C
10
D
100
5) Business activities that occur between two or more countries
A
International business
B
International licensing
C
Joint venture
D
Multinational firm
6) Government plays a role in equal opportunity for employment by passing laws that protect workers and guide employers. A few of these laws are: Civil Rights Act, Equal Pay Act, and _____________.
A
Americans with Disability Act
B
OSHA
C
Fair Labor Standards Act
D
Family Medical Leave Act
7) Which of the following is NOT provided protection from employment discrimination by federal law?
A
Gender
B
Income
C
Citizenship status
D
Age
8) Which is NOT an example of external recruitment of employees:
A
Employment agencies
B
Current employees
C
Internet
D
Advertising
9) The first step in processing applicants for a job is:
A
Administering knowledge and skills tests
B
Reviewing applicant’s applications to eliminate unqualified applicants
C
Checking an applicant's references by contacting schools or previous employers
D
Face-to-face interview with applicants
10) The extent to which people enter and leave employment in a business during a year is known as:
A
Transfers and terminations
B
The application process
C
Employment turnover
D
Layoffs
11) Minimum wage was established by the:
A
Workers Compensation Act
B
Fair Labor Standards Act
C
Occupational and Safety Health Act
D
Social Security Act
12) Which of the following is not characteristic of entrepreneurs?
A
Make sure that others do most of the work
B
Work hard and for long periods
C
Self-starters
D
Enjoy working on their own
13) Businesses that buy products from businesses and sell them to other businesses are called
A
Marketer retailers
B
Industrial Companies
C
Retailers
D
Wholesalers
14) 17. Your employee is compensated on a commission basis. He makes 4% commission on his sales up to $75,000 and 6% of his sales over 75,001. Your employee sold $88,000 last month. How much do you owe him in commission?
A
$3,520
B
$3,780
C
$5,280
D
$7,380
15) Which performance plan pays employees a fixed rate for each unit produced?
A
Wage plan
B
Piece rate plan
C
Commission plan
D
Bonus plan
16) A company would use _______ and _______ research when developing new product ideas.
A
Consumer, Product
B
Product, Goods
C
Goods, Services
D
Internal, External
17) Any form of paid promotion that delivers a message to many people at the same time is called
A
Sales Promotion
B
Promotion
C
Advertising
D
Sales
18) A theory that states that to gain a trade advantage in a global market a country should specialize in products or services that it can provide more efficiently than other countries is called:
A
Strategic alliances
B
Balance of payments
C
Embargo
D
Comparative advantage
*select an answer for all questions
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