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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
WTO
B
NAFTA
C
EU
D
Trading Bloc
2) The North American Free Trade Agreement (NAFTA) is a free-trade agreement between?
A
USA, France, Britain
B
Canada, USA, Iceland
C
Canada, USA, Mexico
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
Non-tariff barriers
B
Embargo
C
Dumping
D
Sanctions
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
10
B
1000
C
100,000
D
100
5) Business activities that occur between two or more countries
A
International licensing
B
Joint venture
C
Multinational firm
D
International business
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
OSHA
B
Family Medical Leave Act
C
Americans with Disability Act
D
Fair Labor Standards Act
7) Which of the following is NOT provided protection from employment discrimination by federal law?
A
Age
B
Income
C
Citizenship status
D
Gender
8) Which is NOT an example of external recruitment of employees:
A
Advertising
B
Current employees
C
Employment agencies
D
Internet
9) The first step in processing applicants for a job is:
A
Checking an applicant's references by contacting schools or previous employers
B
Administering knowledge and skills tests
C
Reviewing applicant’s applications to eliminate unqualified applicants
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
Layoffs
B
Employment turnover
C
The application process
D
Transfers and terminations
11) Minimum wage was established by the:
A
Fair Labor Standards Act
B
Workers Compensation Act
C
Social Security Act
D
Occupational and Safety Health Act
12) Which of the following is not characteristic of entrepreneurs?
A
Enjoy working on their own
B
Self-starters
C
Work hard and for long periods
D
Make sure that others do most of the work
13) Businesses that buy products from businesses and sell them to other businesses are called
A
Industrial Companies
B
Wholesalers
C
Marketer retailers
D
Retailers
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
$5,280
C
$3,780
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
Internal, External
B
Goods, Services
C
Product, Goods
D
Consumer, Product
17) Any form of paid promotion that delivers a message to many people at the same time is called
A
Promotion
B
Sales
C
Advertising
D
Sales Promotion
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
Embargo
B
Balance of payments
C
Comparative advantage
D
Strategic alliances
*select an answer for all questions
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