Sophia Pathways Introduction To Business Final Milestone

SOPHIA PATHWAYS INTRODUCTION TO BUSINESS FINAL MILESTONEThe management of a company uses an impartial third party to resolve a dispute it has with some of its employees. 1- Which of the following does this scenario describe? • Mediation • Grievance • Bargaining • Arbitration CONCEPT Labor Unions A large home improvement retail chain planned to expand its business to include several stores focused on high-end home furnishings and fixtures. The management knew the chosen financing option would be more expensive to administer and take more time to arrange. However, the company felt it could benefit from a longer repayment period of at least 20 years. 2- Which of the following types of financing did the company use? • Corporate bond • Long term loan • Stock offering • Venture capitalist CONCEPT Debt Financing 3- Which of the following is an example of a trade deficit? • China exports more goods to the United States than the US exports to China. • China can produce clothing more efficiently than the United States. • The United States imports more goods from China than China imports from the US. • China and the United States both import and export the same amount of goods to one another. CONCEPT Global Economy Guy wanted to buy the latest gaming system to fit in with his friends at school. 4- Which type of consumer behavior influence below does this illustrate? • Cultural • Psychological • Social • Personal CONCEPT Consumer Behavior Wilson was well-liked by the employees he managed, as well as by his peers. He made an effort to get to know the people he worked with on a personal level. He made sure he interacted with the key players of his company any time an opportunity arose. 5- Which personality trait below does Wilson demonstrate? • High openness • High extroversion • High agreeableness • Low neuroticism CONCEPT “Big Five” Personality Traits Martin started a custom frame shop after retiring as an engineer. He was a skilled craftsman and knew there was a market in his small town for this business. He focused on serving his customers and maintaining the daily operations of his business. 6- Which of the following would Martin be considered? • Small business owner • Business partner • Corporate owner • Entrepreneur