Business Management Spring Teks Review Question Preview (ID: 56284)


This Review Will Assist With Preparing For The Spring Teks Test For Businesss Management. TEACHERS: click here for quick copy question ID numbers.

The international organization that creates and enforces the rules governing trade among countries?
a) NAFTA
b) WTO
c) EU
d) Trading Bloc

The North American Free Trade Agreement (NAFTA) is a free-trade agreement between?
a) Canada, USA, Mexico
b) Canada, USA, Iceland
c) Mexico, Honduras, Asia
d) USA, France, Britain

_____________ 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) Sanctions
c) Non-tariff barriers
d) Dumping

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
d) 100,000

Business activities that occur between two or more countries
a) International business
b) Multinational firm
c) Joint venture
d) International licensing

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) Fair Labor Standards Act
c) Family Medical Leave Act
d) OSHA

Which of the following is NOT provided protection from employment discrimination by federal law?
a) Age
b) Income
c) Gender
d) Citizenship status

Which is NOT an example of external recruitment of employees:
a) Internet
b) Advertising
c) Current employees
d) Employment agencies

The first step in processing applicants for a job is:
a) Face-to-face interview with applicants
b) Reviewing applicant’s applications to eliminate unqualified applicants
c) Checking an applicant's references by contacting schools or previous employers
d) Administering knowledge and skills tests

The extent to which people enter and leave employment in a business during a year is known as:
a) Layoffs
b) The application process
c) Transfers and terminations
d) Employment turnover

Minimum wage was established by the:
a) Fair Labor Standards Act
b) Occupational and Safety Health Act
c) Social Security Act
d) Workers Compensation Act

Which of the following is not characteristic of entrepreneurs?
a) Self-starters
b) Make sure that others do most of the work
c) Enjoy working on their own
d) Work hard and for long periods

Businesses that buy products from businesses and sell them to other businesses are called
a) Industrial Companies
b) Marketer retailers
c) Wholesalers
d) Retailers

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) $7,380
d) $3,780

Which performance plan pays employees a fixed rate for each unit produced?
a) Wage plan
b) Bonus plan
c) Commission plan
d) Piece rate plan

A company would use _______ and _______ research when developing new product ideas.
a) Consumer, Product
b) Internal, External
c) Goods, Services
d) Product, Goods

Any form of paid promotion that delivers a message to many people at the same time is called
a) Advertising
b) Promotion
c) Sales
d) Sales Promotion

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) Balance of payments
b) Comparative advantage
c) Embargo
d) Strategic alliances

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