BUSI 1301 FINAL EXAM QUESTIONS WITH VERIFIED
ANSWERS
Products have tangible attributes only - Answers - False
The goal of business activities is profit - Answers - True
Nonprofit organization such as habitat for humanity do not engage in management,
marketing, or finance activities. - Answers - False
Profit is what it cost to make and sell a product - Answers - False
Businesses have the right to keep and use their profits as they choose, without
limitations. - Answers - False
Businesses differ from nonprofit organizations in that a business's focus is on - Answers
- profit
When purchasing a product, the consumer is actually buying its anticipated benefits and
- Answers - satisfaction
If a business is to be successful in the long run, it must treat its customers, employees,
and community with social - Answers - responsibility
Which of the following is not a product? - Answers - business proft
The goal of business is to earn - Answers - a profit
Which of the following has been cited ass incidents fo unethical business activity
recently? - Answers - unfair competitive practices in the computer industry
Deceptive advertising of food and diet products
accounting fraud
Improper use of the internet
Which of the following statements is false? - Answers - ethical issues are limited to for-
profit organizations
What is business ethics? - Answers - is a form of applied ethics or professional ethics
that examines ethical principles and moral or ethical problems that arise in a business
environment
, An ethical issue is an idnetfiable problem, situation, or opportunity that requires a
person or organization to choose from among several actions that may be evaluated as
ethical or unethical. - Answers - True
The best way to judge the ethics of a decision is to look at it from a manage's or
employee's point of view. - Answers - False
The size of the transaction, the history or personal relationships within the particular
company, and many other factors may determine whether a customer gift will be judged
as ethical. - Answers - True
Conflicts of interest are payments, gifts, or special favors intended to influence the
outcome of a decision. - Answers - False
Ethics is related to the culture in which a business operates. - Answers - True
The best way to judge the ethics of a decision is to - Answers - look at the situation
forms a customer's or competitor's viewpoint.
In the united states, if a business person brought an elaborately wrapped gift to a
prospective client on their first meeting, it might be viewed as - Answers - a bribe
The Webb - pomerence export trade act allows selected american firms desiring
international trade to form monopolies to compete with foreign cartels. - Answers - True
Protective tariffs raise the price of foreign goods to allow competition with more
expensive domestic goods. - Answers - True
A common reason for esablishing quotas or tariffs is to prohibit dumping. - Answers -
True
Political considerations change slowly, while laws change rapidly. - Answers - False
Differences in spoken language and body language have no impact on international
business. - Answers - False
When a company decides to do business outside its own country, it must research
several factors, including potentail barriers to international trade. which of the followin is
not a potential barrier cited in your text? - Answers - Scientific
The united states, great britain, and japan - Answers - are industrialized nations
When a country devalues its currency, this encourages the sale of its - Answers -
domestic goods to foreign countries.
ANSWERS
Products have tangible attributes only - Answers - False
The goal of business activities is profit - Answers - True
Nonprofit organization such as habitat for humanity do not engage in management,
marketing, or finance activities. - Answers - False
Profit is what it cost to make and sell a product - Answers - False
Businesses have the right to keep and use their profits as they choose, without
limitations. - Answers - False
Businesses differ from nonprofit organizations in that a business's focus is on - Answers
- profit
When purchasing a product, the consumer is actually buying its anticipated benefits and
- Answers - satisfaction
If a business is to be successful in the long run, it must treat its customers, employees,
and community with social - Answers - responsibility
Which of the following is not a product? - Answers - business proft
The goal of business is to earn - Answers - a profit
Which of the following has been cited ass incidents fo unethical business activity
recently? - Answers - unfair competitive practices in the computer industry
Deceptive advertising of food and diet products
accounting fraud
Improper use of the internet
Which of the following statements is false? - Answers - ethical issues are limited to for-
profit organizations
What is business ethics? - Answers - is a form of applied ethics or professional ethics
that examines ethical principles and moral or ethical problems that arise in a business
environment
, An ethical issue is an idnetfiable problem, situation, or opportunity that requires a
person or organization to choose from among several actions that may be evaluated as
ethical or unethical. - Answers - True
The best way to judge the ethics of a decision is to look at it from a manage's or
employee's point of view. - Answers - False
The size of the transaction, the history or personal relationships within the particular
company, and many other factors may determine whether a customer gift will be judged
as ethical. - Answers - True
Conflicts of interest are payments, gifts, or special favors intended to influence the
outcome of a decision. - Answers - False
Ethics is related to the culture in which a business operates. - Answers - True
The best way to judge the ethics of a decision is to - Answers - look at the situation
forms a customer's or competitor's viewpoint.
In the united states, if a business person brought an elaborately wrapped gift to a
prospective client on their first meeting, it might be viewed as - Answers - a bribe
The Webb - pomerence export trade act allows selected american firms desiring
international trade to form monopolies to compete with foreign cartels. - Answers - True
Protective tariffs raise the price of foreign goods to allow competition with more
expensive domestic goods. - Answers - True
A common reason for esablishing quotas or tariffs is to prohibit dumping. - Answers -
True
Political considerations change slowly, while laws change rapidly. - Answers - False
Differences in spoken language and body language have no impact on international
business. - Answers - False
When a company decides to do business outside its own country, it must research
several factors, including potentail barriers to international trade. which of the followin is
not a potential barrier cited in your text? - Answers - Scientific
The united states, great britain, and japan - Answers - are industrialized nations
When a country devalues its currency, this encourages the sale of its - Answers -
domestic goods to foreign countries.
