BUS 101 Questions with verified answers
Alex, a barista at Higher Grounds Coffee, decides to take all the tips
from this past month - a total of exactly $1,000 - and put them in a
savings account with 8% interest compounded annually. If Alex leaves
that money in the account, adding no more and taking none of the
money out, about how much will Alex have at the end of three years?
Ans✓✓✓$1,260
Alyson is a manager at PwC. When new employees start working on her
team, she sits them down and develops evaluative metrics. Specifically,
she works with each employee to create "critical incidents" essential to
the job and designs rating systems with specific actions describing what
performance at each level of the scale looks like (in plain language).
What sort of evaluation is Alyson using?
Question options: Ans✓✓✓Behaviorally Anchored Rating Scales
(BARS)
An abnormally harsh winter in Florida has affected the ability for local
farmers to grow oranges: the frost on trees has led to a much lower yield
of oranges than usual/expected. This news impacts Tropicana, the
PepsiCo orange juice brand that is based in Chicago. How would this
weather phenomenon affect Tropicana (and its products) based on what
we learned this week in Economics? Ans✓✓✓The supply of oranges
decreases, so the supply curve shifts left and the price for orange juice
goes up.
Axe Body Spray has decided to launch a luxury fragrance (...it could
happen) priced at $299 per bottle. The company intends to bring the
price down gradually over time (e.g., $250, $200, $150, etc.) so that
, customers who couldn't afford it at launch would be able to purchase the
product. What pricing strategy is Axe using? Ans✓✓✓Price skimming
strategy
Barry's Boot Camp, a pioneer in the high-intensity interval training
(HIIT) fitness space, now faces steep competition from Orange Theory
Fitness - another HIIT fitness company that observed Barry's and then
entered the market shortly thereafter with a new-and-improved market
offering for consumers. In this scenario, Orange Theory benefited by
using which of the following strategies? Ans✓✓✓Imitation Market
Strategy
BeReal., an app that entered the social media market by asking users to
take photos of real life at a random time during the day, entered a very
saturated social media app market. Indeed, Facebook, Instagram,
Twitter, TikTok, Snap, and a number of other social apps often mimic
and copy new features launched by the others. This ability to copy or
mimic offerings so easily, thereby heating up competitive rivalry, is
likely due to which factor?
Question options: Ans✓✓✓Threat of Substitutes
Berenice was doing a quick audit of the Balance Sheet from her parents'
family business. She saw that the Assets balance was $10,000, the
Liabilities balance was $4,000, and the Owner's Equity balance was
$5,000. Because Berenice took BUS 101, she knew which of the
following was true? Ans✓✓✓There was a mistake: the Assets account
should equal the sum of the Liabilities and Owner's Equity accounts
Alex, a barista at Higher Grounds Coffee, decides to take all the tips
from this past month - a total of exactly $1,000 - and put them in a
savings account with 8% interest compounded annually. If Alex leaves
that money in the account, adding no more and taking none of the
money out, about how much will Alex have at the end of three years?
Ans✓✓✓$1,260
Alyson is a manager at PwC. When new employees start working on her
team, she sits them down and develops evaluative metrics. Specifically,
she works with each employee to create "critical incidents" essential to
the job and designs rating systems with specific actions describing what
performance at each level of the scale looks like (in plain language).
What sort of evaluation is Alyson using?
Question options: Ans✓✓✓Behaviorally Anchored Rating Scales
(BARS)
An abnormally harsh winter in Florida has affected the ability for local
farmers to grow oranges: the frost on trees has led to a much lower yield
of oranges than usual/expected. This news impacts Tropicana, the
PepsiCo orange juice brand that is based in Chicago. How would this
weather phenomenon affect Tropicana (and its products) based on what
we learned this week in Economics? Ans✓✓✓The supply of oranges
decreases, so the supply curve shifts left and the price for orange juice
goes up.
Axe Body Spray has decided to launch a luxury fragrance (...it could
happen) priced at $299 per bottle. The company intends to bring the
price down gradually over time (e.g., $250, $200, $150, etc.) so that
, customers who couldn't afford it at launch would be able to purchase the
product. What pricing strategy is Axe using? Ans✓✓✓Price skimming
strategy
Barry's Boot Camp, a pioneer in the high-intensity interval training
(HIIT) fitness space, now faces steep competition from Orange Theory
Fitness - another HIIT fitness company that observed Barry's and then
entered the market shortly thereafter with a new-and-improved market
offering for consumers. In this scenario, Orange Theory benefited by
using which of the following strategies? Ans✓✓✓Imitation Market
Strategy
BeReal., an app that entered the social media market by asking users to
take photos of real life at a random time during the day, entered a very
saturated social media app market. Indeed, Facebook, Instagram,
Twitter, TikTok, Snap, and a number of other social apps often mimic
and copy new features launched by the others. This ability to copy or
mimic offerings so easily, thereby heating up competitive rivalry, is
likely due to which factor?
Question options: Ans✓✓✓Threat of Substitutes
Berenice was doing a quick audit of the Balance Sheet from her parents'
family business. She saw that the Assets balance was $10,000, the
Liabilities balance was $4,000, and the Owner's Equity balance was
$5,000. Because Berenice took BUS 101, she knew which of the
following was true? Ans✓✓✓There was a mistake: the Assets account
should equal the sum of the Liabilities and Owner's Equity accounts
