ETS Major Field Practice Test): Bachelor's Degree in Business Actual
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Marketers must constantly monitor their competitors' products, prices,
distribution, and promotional efforts because the:
a) competitors may be violating the truth-in-advertising laws
b) actions of competitors may threaten the firm's monopoly position
c) actions of competitors may create an oligopoly within an industry
d) new product offerings by a competitor may require adjustments to
one or more components of the firm's marketing mix -ANSWER-d) new
product offerings by a competitor may require adjustments to one or
more components of the firm's marketing mix
The General Agreement on Tariffs and Trade (GATT) created the World
Trade Organization (WTO). The WTO activities include:
a) stimulating international commerce and resolving trade disputes.
,b) enforcement of the Foreign Corrupt Practices Act (FCPA).
c) elimination of almost all trade barriers between Canada, Mexico, and
the United States.
d) All the above are correct -ANSWER-a) stimulating international
commerce and resolving trade disputes.
A project has a net present value of zero. Which one of the following
best describes this project?
a) The project has a zero percent rate of return.
b) The project requires no initial cash investment.
c) The project has no cash flows.
d) The summation of all of the project's cash flows is zero.
e) The project's cash inflows equal its cash outflows in current dollar
terms -ANSWER-e) The project's cash inflows equal its cash outflows in
current dollar terms
,Abraham Maslow, noted psychologist, theorized that people were
motivated by:
a) money, more money, and even more money
b) time pressures
c) unmet needs
d) greed -ANSWER-c) unmet needs
A legal institution associated with an independent judiciary relying on
case precedents is called
a) common law system
b) civil law system
c) theocratic law system
d) None of the above -ANSWER-a) common law system
Primary value chain activities that involve the effective layout of
receiving dock operations (inbound logistics) and support value chain
activities that include expertise in process engineering (technology
development) characterize what generic strategy?
a) differentiation
b) overall cost leadership
, c) differentiation focus
d) stuck-in-the-middle -ANSWER-b) overall cost leadership
The central processing unit (CPU) in a personal computer contains the
a) control unit and primary memory
b) control unit and arithmetic/logic unit
c) arithmetic/logic unit and bus
d) arithmetic/logic unit only -ANSWER-b) control unit and
arithmetic/logic unit
____ planning normally is performed by middle managers and typically
has a one-year time frame
a) Strategic planning
b) Tactical planning
c) Operational planning
d) Contingency planning -ANSWER-b) Tactical planning
A problem associated with equity theory is that:
Exam 2026 || Most Recent Exam 2026|2027 Actual Complete Real
Exam Questions And Correct Answers (Verified Answers) Already
Graded A+ | Guaranteed Success!! Newest Exam | Just Released!!
Marketers must constantly monitor their competitors' products, prices,
distribution, and promotional efforts because the:
a) competitors may be violating the truth-in-advertising laws
b) actions of competitors may threaten the firm's monopoly position
c) actions of competitors may create an oligopoly within an industry
d) new product offerings by a competitor may require adjustments to
one or more components of the firm's marketing mix -ANSWER-d) new
product offerings by a competitor may require adjustments to one or
more components of the firm's marketing mix
The General Agreement on Tariffs and Trade (GATT) created the World
Trade Organization (WTO). The WTO activities include:
a) stimulating international commerce and resolving trade disputes.
,b) enforcement of the Foreign Corrupt Practices Act (FCPA).
c) elimination of almost all trade barriers between Canada, Mexico, and
the United States.
d) All the above are correct -ANSWER-a) stimulating international
commerce and resolving trade disputes.
A project has a net present value of zero. Which one of the following
best describes this project?
a) The project has a zero percent rate of return.
b) The project requires no initial cash investment.
c) The project has no cash flows.
d) The summation of all of the project's cash flows is zero.
e) The project's cash inflows equal its cash outflows in current dollar
terms -ANSWER-e) The project's cash inflows equal its cash outflows in
current dollar terms
,Abraham Maslow, noted psychologist, theorized that people were
motivated by:
a) money, more money, and even more money
b) time pressures
c) unmet needs
d) greed -ANSWER-c) unmet needs
A legal institution associated with an independent judiciary relying on
case precedents is called
a) common law system
b) civil law system
c) theocratic law system
d) None of the above -ANSWER-a) common law system
Primary value chain activities that involve the effective layout of
receiving dock operations (inbound logistics) and support value chain
activities that include expertise in process engineering (technology
development) characterize what generic strategy?
a) differentiation
b) overall cost leadership
, c) differentiation focus
d) stuck-in-the-middle -ANSWER-b) overall cost leadership
The central processing unit (CPU) in a personal computer contains the
a) control unit and primary memory
b) control unit and arithmetic/logic unit
c) arithmetic/logic unit and bus
d) arithmetic/logic unit only -ANSWER-b) control unit and
arithmetic/logic unit
____ planning normally is performed by middle managers and typically
has a one-year time frame
a) Strategic planning
b) Tactical planning
c) Operational planning
d) Contingency planning -ANSWER-b) Tactical planning
A problem associated with equity theory is that:
