Marketing Research Process Quiz Questions

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1. A disadvantage of a general partnership is that each partner

Explanation

In a general partnership, each partner is personally liable for the business's losses. This means that if the business incurs debts or legal obligations, each partner is responsible for them, regardless of their personal investment or level of involvement in the management of the business. This can be a significant disadvantage as it exposes each partner's personal assets to potential financial risk and can lead to financial hardship if the business experiences losses or fails.

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About This Quiz
Marketing Research Process Quiz Questions - Quiz

This quiz assesses knowledge in marketing research processes, including problem-solving in staff meetings, understanding financial documents, demographic analysis for marketing, and professional etiquette. It is designed to enhance... see moredecision-making and strategic thinking in business environments. see less

2. One reason food marketing businesses usually are unable to enter into legally binding contracts with minors is because those under the legal age 

Explanation

Minors may not understand the consequences of their actions, which is why food marketing businesses are usually unable to enter into legally binding contracts with them. This is because minors are not considered to have the same level of maturity and understanding as adults, and they may not fully comprehend the long-term implications and responsibilities that come with entering into a contract. Therefore, it is important to protect minors from potentially harmful or disadvantageous agreements by limiting their ability to enter into legally binding contracts.

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3. What type of market exists when a large supply of a product and a small demand have resulted in low prices?

Explanation

A buyer's market exists when there is a large supply of a product and a small demand, resulting in low prices. In this type of market, buyers have the advantage as they have more options to choose from and can negotiate lower prices. This is the opposite of a seller's market, where there is high demand and low supply, giving sellers the advantage to set higher prices.

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4. The president of the Acme Company identifies the jobs to be accomplished and assigns responsibility for completing those jobs to specific departments. What management function is the president performing?

Explanation

The president of the Acme Company is performing the management function of organizing. Organizing involves determining the tasks that need to be done and assigning responsibilities to specific departments or individuals. In this case, the president is identifying the jobs that need to be accomplished and assigning them to specific departments, which is a key aspect of the organizing function.

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5. Whenever Melissa has to make a difficult decision, she considers how her actionsmight affect other people and their feelings. As a result, she has developed higher

Explanation

Melissa's consideration of how her actions might affect other people and their feelings indicates that she prioritizes moral values and principles. This suggests that she has developed a strong sense of ethics, which guides her decision-making process. This ethical approach likely leads to higher productivity as she takes into account the impact of her actions on others, fostering a positive work environment and promoting teamwork and collaboration.

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6. A business should conduct environmental scans on a continuous basis so that itcan

Explanation

A business should conduct environmental scans on a continuous basis in order to respond to opportunities and threats quickly. By regularly monitoring the external environment, the business can identify potential opportunities for growth and development, as well as potential threats that may impact its operations. This allows the business to adapt and make informed decisions in a timely manner, ensuring that it can take advantage of favorable circumstances and mitigate any risks or challenges that may arise.

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7. Which of the following is a product-related problem about which consumers have complained to government officials:

Explanation

Consumers have complained to government officials about the lack of product information. This means that consumers have expressed concerns or grievances to government authorities regarding the insufficient or inadequate details provided about a particular product. This could include issues such as missing or misleading labeling, incomplete product descriptions, or a lack of information about potential risks or side effects.

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8. A video store tells customers that a certain DVD will be in stock, but on the release date, it has no DVDs available. This is an example of which negative action companies should avoid taking:

Explanation

This situation of the video store not having the DVD available on the release date demonstrates the negative action of not keeping promises. The store had informed customers that the DVD would be in stock, but they failed to fulfill their promise. This is an example of a company not following through on their commitments and can lead to customer dissatisfaction and loss of trust.

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9. The scope of the Internet can be described as

Explanation

The correct answer is "worldwide" because the Internet is a global network that connects millions of devices and allows people from all over the world to communicate, share information, and access resources. It transcends geographical boundaries and is accessible to anyone with an internet connection, regardless of their location.

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10. Businesses hope that individuals who are favourably impressed with the business will tell others about it so that the business will receive __________ publicity.

Explanation

Businesses hope that individuals who are favourably impressed with the business will tell others about it so that the business will receive word-of-mouth publicity. Word-of-mouth publicity refers to positive recommendations and reviews that are shared by individuals to their friends, family, and acquaintances. This type of publicity is highly effective as it is based on personal experiences and trust. It can significantly impact the reputation and success of a business, leading to increased customer base and sales.

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11.     Brands appeal to consumers on both __________ levels.

Explanation

Brands appeal to consumers on both rational and emotional levels. This means that brands not only provide logical reasons for consumers to choose their products or services (rational appeal), but also tap into the emotions and desires of consumers to create a deeper connection and loyalty (emotional appeal). By appealing to both aspects, brands can effectively communicate their value proposition and create a strong bond with consumers.

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12. Packaging jewelry in a biodegradable or recyclable container is one way a channel member can participate in the ethical concept of 

Explanation

Packaging jewelry in a biodegradable or recyclable container aligns with the principles of green marketing, which involves promoting and selling products that are environmentally friendly. By using sustainable packaging, the channel member demonstrates their commitment to reducing waste and minimizing the impact on the environment. This practice resonates with consumers who prioritize sustainability and helps to create a positive brand image.

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13. I'm tired of the government's telling me what to do. They made me become a teacher, they determine my salary, and they even control where I can live," the worker complained. What type of economic system is this person complaining about?

Explanation

The person is complaining about a Communist Command economic system because they mention that the government determines their profession, salary, and place of residence. In a Communist Command system, the government has control over all aspects of the economy and makes these types of decisions for individuals.

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14. "Your money back if not satisfied" is an example of a

Explanation

The phrase "Your money back if not satisfied" indicates that if the customer is not happy with the product or service, they will receive a refund. This implies a promise or assurance that the customer's satisfaction is guaranteed. Therefore, "Your money back if not satisfied" exemplifies a guarantee.

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15. When a clothing designer decides to create an infomercial to advertise a new clothing line, it can maximize its customer response rate by requesting a call to action __________ the infomercial.

Explanation

When a clothing designer decides to create an infomercial to advertise a new clothing line, requesting a call to action several times during the infomercial can maximize its customer response rate. By including multiple prompts throughout the infomercial, the designer increases the chances of capturing the viewers' attention and encouraging them to take action, such as making a purchase or visiting the designer's website. This repetition helps reinforce the message and ensures that the call to action is not easily overlooked or forgotten by the viewers.

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16. Developing a pricing structure that encourages customers to buy additional services that they don't need in order to obtain the original product is often a(n) __________ tactic.

Explanation

Developing a pricing structure that encourages customers to buy additional services they don't need in order to obtain the original product is considered unethical. This tactic takes advantage of customers by pressuring them into purchasing unnecessary services, which goes against ethical business practices. It prioritizes profit over the well-being and satisfaction of customers, leading to a negative perception of the company's integrity.

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17. Which one do you like?

Explanation

The question asks for the preferred choice among the given options. The answer states "Option 1" without providing any further context or reasoning.

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18. Which of the following is a product-related problem about which consumers have complained to government officials:

Explanation

Consumers have complained to government officials about the lack of product information. This suggests that consumers are not receiving sufficient details or specifications about the products they are purchasing. This can lead to confusion, dissatisfaction, and potential harm if consumers are unaware of any potential risks or hazards associated with the product. It is important for consumers to have access to accurate and complete information in order to make informed decisions and protect their rights.

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19. The operations manager schedules quarterly reviews of office equipment whether there have been recent problems or not. This is an example of

Explanation

The given scenario describes the practice of scheduling quarterly reviews of office equipment, regardless of whether there have been recent problems or not. This approach aims to prevent any potential issues or breakdowns by proactively inspecting and maintaining the equipment. It falls under the category of preventive maintenance, which involves regularly scheduled tasks to keep equipment in good working condition and prevent unexpected failures.

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20. Rafael, a business-services employee, was assigned to greet a group of Latin American business travelers. Five minutes after their arrival, he walked up to within two feet of them, smiled while making eye contact, and politely said "Good afternoon. How can I be of service?" What did he do wrong? 

Explanation

Rafael did not greet the travelers in a prompt manner. Although he approached them within two feet, smiled, and made eye contact, he took five minutes to do so. Greeting the guests promptly is important in providing good customer service, and a delay of five minutes can give the impression of indifference or lack of attentiveness.

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21. Which of the following is demographic information that businesses might monitor when making marketing decisions:

Explanation

Businesses might monitor income as demographic information when making marketing decisions because it helps them understand the purchasing power and spending habits of their target audience. Income level can indicate the affordability of products or services, allowing businesses to tailor their marketing strategies accordingly. By analyzing income data, businesses can identify potential customers who are more likely to be interested in their offerings and adjust their pricing or promotional tactics to effectively reach and engage this specific demographic segment.

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22.  The process of coding is part of which step of the marketing research process?

Explanation

Coding is the process of assigning labels or codes to data in order to categorize and organize it for analysis. It involves transforming qualitative data into quantitative data, which can be easily analyzed using statistical methods. Therefore, coding is a crucial step in the analysis phase of the marketing research process. It helps researchers identify patterns, themes, and trends in the data, which ultimately leads to valuable insights and informed decision-making.

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23. The three-way light bulbs that supermarkets sell are all made with the same size base. This is an example of a production process that uses __________ parts.

Explanation

The fact that three-way light bulbs sold in supermarkets are all made with the same size base indicates that the production process uses standardized parts. Standardized parts refer to components that are designed to be interchangeable and uniform, allowing for efficient manufacturing and easy replacement. In this case, the use of standardized parts ensures that the bulbs can fit into any compatible socket, providing convenience for both the producers and consumers.

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24. A midpriced automobile company provides customers with free transportation while their cars are being repaired. What attribute is the company using to gain the competitive advantage?

Explanation

The company is using the attribute of service to gain a competitive advantage. By providing customers with free transportation while their cars are being repaired, the company is offering an additional service that sets them apart from their competitors. This extra convenience and support for customers can lead to increased satisfaction and loyalty, ultimately giving the company an edge in the market.

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25. An important step in the process of purchasing equipment and supplies for the business is

Explanation

When purchasing equipment and supplies for a business, selecting vendors is an important step because it determines the quality, cost, and reliability of the products or services being acquired. By carefully choosing vendors, the business can ensure that they are working with reputable and trustworthy suppliers who can meet their specific needs and requirements. This includes factors such as price negotiations, delivery schedules, product warranties, and customer support. Therefore, selecting vendors plays a crucial role in ensuring the smooth and efficient procurement process for the business.

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26. What is the total cost to the customer of an item priced at $17.99 if both a 4% state sales tax and 1% county sales tax are charged?

Explanation

The total cost to the customer of an item priced at $17.99 can be calculated by adding the state sales tax and the county sales tax to the original price. The state sales tax is 4% of $17.99, which is $0.72. The county sales tax is 1% of $17.99, which is $0.18. Adding these amounts to the original price gives a total of $18.89.

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27. Which one do you like?

Explanation

The given question asks for the respondent's preference among the four options provided. The correct answer, Option 1, indicates that the respondent likes the first option the most.

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28. Which one do you like?

Explanation

This question is asking for the preferred choice among the given options. Since the answer states "Option 1," it indicates that the person prefers Option 1 over the other options.

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29. Which of the following is an example of an economic activity:

Explanation

Buying new company equipment is an example of an economic activity because it involves the purchase of a tangible asset that is expected to generate future economic benefits for the company. This activity involves the allocation of resources (money) to acquire the equipment, which is a fundamental aspect of economic decision-making. Additionally, the purchase of new equipment can contribute to the growth and productivity of the company, making it a key economic activity.

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30. In which stage of the product life cycle would a service business decide to discount its products to appeal to a different market segment, if sales have been steadily decreasing?

Explanation

In the decline stage of the product life cycle, sales are steadily decreasing. At this point, a service business may decide to discount its products in order to appeal to a different market segment. By offering discounts, the business aims to attract new customers and stimulate sales in a declining market. This strategy allows the business to remain competitive and potentially extend the product's life cycle before it reaches the withdrawal stage.

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31. One of the benefits to auto-parts stores of regularly evaluating the performance of vendors is the opportunity to  

Explanation

Regularly evaluating the performance of vendors allows auto-parts stores to identify and correct problems. By assessing the performance of vendors, the stores can identify any issues or deficiencies in the products or services provided by the vendors. This evaluation helps the stores to address these problems and ensure that the vendors meet their expectations and standards. It also allows them to make improvements and adjustments to their vendor selection and management processes, resulting in better overall performance and customer satisfaction.

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32. In a market economic system, it is often unlawful for businesses to participate in distribution activities that

Explanation

In a market economic system, businesses are typically not allowed to engage in distribution activities that restrain free trade. This means that businesses cannot engage in practices that limit competition or hinder the free flow of goods and services in the market. This is because free trade is considered essential for a healthy and competitive market environment, where businesses can freely compete and consumers have access to a wide range of choices. Restraining free trade can lead to monopolies or unfair advantages for certain businesses, which goes against the principles of a market economic system.

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33. When the manager of a large supermarket supply company takes potential customers out for lavish dinners and buys them expensive gifts, it might appear as if the manager is engaging in the unethical practice of

Explanation

The manager's actions of taking potential customers out for lavish dinners and buying them expensive gifts indicate a form of bribery. Bribery involves offering or giving something of value to influence the actions or decisions of someone in a position of power or influence. In this case, the manager is using these extravagant gestures to sway potential customers into doing business with the company, which is an unethical practice.

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34.  When should you record bank transactions in your check register?

Explanation

The correct answer is "As soon as each check is written". Recording bank transactions in the check register as soon as each check is written helps to maintain an accurate and up-to-date record of the transactions. It allows for better tracking of expenses, helps to avoid overdrawing the account, and ensures that the check register reflects the correct balance. By recording transactions promptly, individuals can also identify any discrepancies or errors early on and take appropriate actions to rectify them.

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35. The purpose of legal procedure is to ensure that each party receives

Explanation

The purpose of legal procedure is to ensure that each party involved in a legal case is treated fairly and consistently. This means that all parties should have equal access to legal representation, evidence, and the opportunity to present their case. Consistent treatment ensures that the legal process is fair and unbiased, allowing for a reasonable verdict to be reached based on the merits of the case.

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36. A business's goal is to gain 25 percent of its sales through its direct-mail catalog. If the business has an overall goal of $845,600 in sales, and it is halfway through the sales period, how much revenue should the business have earned from its direct-mail catalog sales so far?

Explanation

Since the business's overall goal is $845,600 and it is halfway through the sales period, it means that the business should have earned half of its overall goal by now. To calculate this, we can divide the overall goal by 2, which gives us $422,800. Since the business's goal is to gain 25 percent of its sales through its direct-mail catalog, we can calculate 25 percent of $422,800, which is $105,700. Therefore, the business should have earned $105,700 from its direct-mail catalog sales so far.

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37. Effective strategic planning involves considering the input of

Explanation

Effective strategic planning involves considering the input of several sources. This is because strategic planning requires gathering information and insights from various stakeholders, such as employees, customers, suppliers, and industry experts. By considering input from multiple sources, organizations can gain a comprehensive understanding of their internal and external environments, identify potential opportunities and threats, and make informed decisions to achieve their strategic objectives. The input from several sources helps in ensuring a well-rounded and inclusive strategic planning process.

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38. Carol would rather have one product but will purchase another one if her favorite item is not available. This is an example of brand

Explanation

This scenario describes Carol's preference for a specific product. She would prefer to purchase her favorite item, but if it is not available, she is willing to buy another product instead. This demonstrates her personal preference and choice in selecting a particular brand or item. Therefore, the correct answer is preference.

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39. In a weekly staff meeting, Morgan presents a set of new procedures that she believes will improve the department's productivity levels. Jacob disagrees with Morgan's approach and provides an alternative for improvement. Although Morgan agrees with a couple of Jacob's points, she still thinks her plan will be better for the company in the long run. How can Morgan effectively defend her idea for improvement? 

Explanation

Morgan can effectively defend her idea for improvement by presenting supporting research for her suggestions in an unbiased way. By providing evidence and data that backs up her proposed procedures, Morgan can demonstrate the potential benefits and effectiveness of her plan. This approach allows her to present a logical and objective argument, which can help to persuade others, including Jacob, of the validity and value of her ideas.

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40. Which of the following is a situation that is likely to require a company's employees to obtain special training from an external source: 

Explanation

Learning a complex computer software program is likely to require employees to obtain special training from an external source because it involves acquiring specific technical skills and knowledge that may not be readily available within the company. External training can provide employees with the necessary expertise and guidance to effectively navigate and utilize the software program, ensuring that they can perform their tasks efficiently and accurately.

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41. Which of the following benefits of warranties and guarantees would benefit customers rather than businesses:

Explanation

Availability of service information benefits customers rather than businesses because it allows customers to have access to detailed information about the services provided, which helps them make informed decisions. This benefit ensures that customers are aware of what they can expect from the product or service, enabling them to utilize it effectively and troubleshoot any issues that may arise. In contrast, businesses may view this benefit as a potential risk, as it requires transparency and accountability in their service delivery, potentially leading to increased costs or customer dissatisfaction.

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42. Which of the following is a characteristic of good visions:

Explanation

A characteristic of good visions is that they lead to permanent results. Good visions are not temporary or short-term solutions, but rather long-lasting and impactful. They aim to create lasting change and improvements in a particular area. By focusing on permanent results, good visions ensure that the efforts and resources invested in achieving the vision are not wasted and have a lasting positive effect.

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43. An effective middle manager in an insurance company would do all of the following on a regular basis except

Explanation

An effective middle manager in an insurance company would do all of the following on a regular basis except work alongside subordinates. This is because a middle manager's role is to oversee and manage the work of their subordinates, rather than directly working alongside them. They should focus on making excellent use of their time, establishing immediate and long-range goals, and using their abilities to the best advantage to ensure the efficient functioning of the team and achieve organizational objectives.

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44. Julianne is going to a chamber-of-commerce luncheon where she will meet several important business leaders in her community. What is the most appropriate clothing for Julianne to wear?

Explanation

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45. Which of the following do many businesses believe to be their most important resource:

Explanation

Many businesses believe that employees are their most important resource because they are the ones who drive the success of the company. Employees contribute their skills, knowledge, and expertise to achieve the company's goals and objectives. They are responsible for generating sales revenue, managing office supplies, and operating equipment effectively. Without dedicated and talented employees, a business may struggle to compete in the market and achieve sustainable growth. Therefore, businesses prioritize investing in their employees' development, satisfaction, and well-being to ensure long-term success.

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46. Which of the following is a service that a factory representative might provide an auto-parts store in order to help the store sell products:

Explanation

A factory representative might provide the service of conducting demonstrations to an auto-parts store in order to help the store sell products. By conducting demonstrations, the representative can showcase the features and benefits of the auto-parts to the store's customers, increasing their understanding and interest in the products. This hands-on approach allows customers to see the products in action, potentially leading to increased sales for the store.

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47. Juan Rodriguez signed a promissory note for a loan. In this credit arrangement, Juan is the

Explanation

In this credit arrangement, Juan Rodriguez signed a promissory note for a loan, indicating that he is the borrower. The borrower is the individual who receives the loan and is obligated to repay the borrowed amount, along with any agreed-upon interest, to the lender. Therefore, Juan Rodriguez is the borrower in this scenario.

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48. Which one do you like?

Explanation

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49. Shelley has a $25 gift certificate and is having difficulty making a choice between a sweater and a pair of earrings. If she chooses the sweater, what is the opportunity cost of this decision?

Explanation

The opportunity cost of choosing the sweater over the earrings is the value or benefit that Shelley would have gained from choosing the earrings instead. In this scenario, the opportunity cost is the value of the earrings, which is $25. By choosing the sweater, Shelley is forgoing the opportunity to have the earrings, which she could have obtained using the gift certificate.

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50. Which of the following is a main component of an automobile's electrical system:

Explanation

A fuse is a main component of an automobile's electrical system. It is a safety device that protects the electrical circuits from excessive current flow. When there is a fault or overload in the system, the fuse will blow and break the circuit, preventing damage to the wiring and other components. By breaking the circuit, the fuse helps to prevent fires and other electrical hazards in the vehicle. Therefore, a fuse is an essential component in ensuring the safety and proper functioning of an automobile's electrical system.

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51. Which of the following is a reason a company might organize itself under the lawsof a different country than those of its "home" country:

Explanation

A company might choose to organize itself under the laws of a different country to save on taxes. Different countries have different tax laws and regulations, and some countries may offer more favorable tax rates or incentives for businesses. By establishing themselves in a country with lower tax rates or advantageous tax policies, the company can reduce its tax burden and potentially increase its profitability. This strategy is commonly known as tax optimization or tax planning, and it allows businesses to allocate their resources more efficiently while remaining compliant with legal requirements.

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52. Which of the following limits the usefulness of the Internet as an advertising tool:

Explanation

An e-mail filter limits the usefulness of the Internet as an advertising tool because it automatically sorts and blocks unwanted or spam emails from reaching the user's inbox. This means that advertisements sent via email may not even reach the intended audience, reducing the effectiveness of internet advertising.

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53. The owners of a dry-cleaning business decided to ignore the low prices offered by a new competitor and keep their prices at a higher level. What characteristic of effective pricing were the owners forgetting?

Explanation

The owners of the dry-cleaning business were forgetting the characteristic of flexibility in effective pricing. By ignoring the low prices offered by the new competitor and keeping their prices at a higher level, they were not adapting to the changing market conditions or customer preferences. Flexibility in pricing allows businesses to adjust their prices according to market demands, competition, and other factors to remain competitive and attract customers. By not being flexible, the owners may risk losing customers to the new competitor and potentially reducing their profitability in the long run.

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54. Ted is planning a new advertising campaign for his company, a stable that offersprivate horseback-riding lessons. Which of the following is data that would be usefulfor Ted's marketing decision making:

Explanation

Market share data for his company during the past year would be useful for Ted's marketing decision making because it would provide him with information on how well his company is performing in the market compared to its competitors. This data would help him understand the market dynamics, identify areas of growth or decline, and make informed decisions on how to allocate resources and develop effective advertising strategies to attract more customers and increase market share.

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55. Is it appropriate for job applicants to ask the business to let them know when the business makes a decision about filling a job?

Explanation

It is appropriate for job applicants to ask the business to let them know when the business makes a decision about filling a job because it shows their continued interest in the position and their desire for timely feedback. Including this request in a follow-up letter allows the applicant to maintain open communication with the business and ensures that they are aware of the decision-making process.

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56. If all of the individuals who own a business share unlimited liability for the business's losses, these individuals are part of a(n)

Explanation

A generation partnership is a type of business structure where all the individuals who own the business share unlimited liability for the business's losses. This means that each partner is personally responsible for any debts or obligations of the business. In a generation partnership, the liability is not limited to just the initial investment, but extends to the personal assets of the partners. This type of structure is often used in family businesses where multiple generations are involved in the ownership and management of the business.

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57. Which of the following is not a benefit to service businesses of using trade publications:

Explanation

Trade journals are usually provided free of charge. This statement suggests that service businesses do not have to pay to access trade journals, which can be seen as a benefit. However, the question asks for the option that is not a benefit. Therefore, the correct answer is "Trade journals are usually provided free of charge."

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58. Marketing strategies and tactics must always be planned and implemented with the architecture firm's __________ in mind.

Explanation

Marketing strategies and tactics must always be planned and implemented with the architecture firm's clients in mind. This is because clients are the ones who will be using the firm's services and ultimately paying for them. It is important to understand their needs, preferences, and expectations in order to effectively market and promote the firm's offerings. By focusing on the clients, the firm can tailor their marketing efforts to attract and retain them, leading to increased customer satisfaction and business success.

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59. The ZRB Company promises to ship LST Inc. 200 units of product by a certaindate, and LST Inc. promises to pay ZRB $25,000 for the product within 14 days ofreceipt. This is an example of a(n)

Explanation

This is an example of a bilateral contract because it involves mutual promises and obligations between two parties, ZRB Company and LST Inc. Both parties have made commitments to each other - ZRB promises to ship 200 units of product and LST Inc. promises to pay $25,000 within 14 days of receipt. It is a two-sided agreement where performance from both parties is expected.

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60. When the auto-parts store checker sorts each package in a shipment by style, size, and color, and makes a physical count of the contents to compare with the invoice, this is called a(n) __________ check.

Explanation

When the auto-parts store checker sorts each package in a shipment by style, size, and color, and makes a physical count of the contents to compare with the invoice, this is called a quantity check. This process involves verifying the number of items in each package against the quantity listed on the invoice to ensure that the correct amount of products has been received.

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61. Which of the following is an example of an emergency situation that business employees should know how to handle and report:

Explanation

An example of an emergency situation that business employees should know how to handle and report is a bomb threat. In the event of a bomb threat, employees need to be aware of the necessary protocols to follow, such as evacuating the premises, contacting the authorities, and providing any relevant information about the threat. This is crucial for the safety and security of everyone in the building and requires immediate action to mitigate any potential harm.

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62. Which of the following is a technologically advanced method that allows businesses to produce automotive products that are specialized for a very few customers:

Explanation

Mass customization is a technologically advanced method that allows businesses to produce automotive products that are specialized for a very few customers. This method combines the benefits of mass production with the flexibility of customization, enabling businesses to produce unique products tailored to individual customer preferences. It involves using advanced technologies, such as computer-aided design and manufacturing, to efficiently produce customized products on a large scale. This approach helps businesses meet the specific needs and preferences of their customers, while still benefiting from economies of scale and efficient production processes.

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63. Not allowing employees to bring personal belongings into the work area helps to prevent 

Explanation

Not allowing employees to bring personal belongings into the work area helps to prevent fraud because it reduces the risk of employees stealing or misusing company resources for personal gain. By prohibiting personal belongings, the organization can maintain a higher level of control and accountability over its assets, reducing the potential for fraudulent activities.

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64. What do you need to identify if there are complicated jobs that members of the group are unable to perform?

Explanation

To identify if there are complicated jobs that members of the group are unable to perform, support services are needed. Support services can provide assistance, guidance, and resources to help individuals overcome challenges and successfully complete their tasks. These services may include training, mentoring, troubleshooting, or access to experts who can provide specialized knowledge or skills. By utilizing support services, the group can ensure that all members have the necessary support and resources to effectively perform their jobs, even in complex situations.

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65. Which of the following is a true statement about inexpensive, self-service products in convenience stores:

Explanation

Sales promotion could promote inexpensive, self-service products in convenience stores successfully. This is because sales promotion techniques such as discounts, coupons, and special offers can attract price-sensitive customers and encourage them to make a purchase. Since these products are inexpensive and self-service, customers are more likely to make impulse purchases when they see a sales promotion. Additionally, sales promotion can help create awareness and generate excitement about these products, leading to increased sales.

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66. Roc's Burger Palace recently began accepting credit cards, which gives customers another method of payment. Accepting credit cards helps to create ___________ utility.

Explanation

Accepting credit cards helps to create possession utility. Possession utility refers to the value that customers derive from having access to a product or service. By accepting credit cards, Roc's Burger Palace allows customers to possess and access their food without the need for immediate cash, increasing the convenience and accessibility of their offerings.

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67. Which of the following is an example of how a business or industry has a unique relationship with its environment:

Explanation

The demand for skilled nursing care rising as the population ages is an example of how a business or industry has a unique relationship with its environment. This is because the aging population directly affects the demand for skilled nursing care services. As the population gets older, there is a greater need for healthcare services, including nursing care. This creates a specific market demand for skilled nursing care providers, making it a unique relationship between the business/industry and the environmental factors such as demographics and population trends.

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68. Which of the following statements would be the best way for a job applicant to end an interview:

Explanation

The answer "Ms. Martin, I know that I can do this job, and I would like to have it" would be the best way for a job applicant to end an interview because it demonstrates confidence in their abilities and a genuine interest in the position. By expressing their belief in their own capabilities and their enthusiasm for the job, the applicant is conveying a positive and assertive attitude, which can leave a lasting impression on the interviewer. This statement shows that the applicant is confident in their skills and genuinely wants the job, making them a strong candidate.

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69. A country's easy monetary policy is often used to correct the problem of

Explanation

A country's easy monetary policy refers to the central bank's decision to lower interest rates and increase the money supply in order to stimulate economic growth. This is done to address the issue of unemployment, as easy monetary policy encourages borrowing and investment by businesses, leading to increased economic activity and job creation. Therefore, the correct answer is unemployment.

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70. An environmental factor that would be specific to a particular business is the

Explanation

The market refers to the specific group of consumers or target audience that a business caters to. It includes factors such as consumer preferences, buying behavior, competition, and demand for the products or services offered by the business. This factor is specific to a particular business as each business operates in a unique market with its own characteristics and dynamics. The market factor influences various aspects of the business, including pricing, product development, marketing strategies, and overall business growth.

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71. Which of the following types of customer relationship management software would be most appropriate for a company that is looking for a more efficient way to track leads, prospects, and customers:

Explanation

Sales force automation technology would be the most appropriate type of customer relationship management software for a company that is looking for a more efficient way to track leads, prospects, and customers. This software is specifically designed to automate and streamline sales-related tasks and processes, including lead management, contact management, opportunity management, and sales forecasting. It helps the company to effectively track and manage its sales pipeline, improve sales efficiency, and enhance customer relationships.

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72. Which of the following is a type of technology that allows customers to purchase and receive services from businesses without dealing with the business's employees:

Explanation

Smart cards are a type of technology that allows customers to purchase and receive services from businesses without dealing with the business's employees. Smart cards are small plastic cards embedded with a microchip that can store and process data. They can be used for various purposes such as making payments, accessing secure areas, and storing personal information. By using smart cards, customers can conveniently and securely access services without the need for direct interaction with employees, making it a popular choice for self-service transactions.

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73. An example of a country that has a socialist command economy is

Explanation

Great Britain is not an example of a country that has a socialist command economy. A socialist command economy is characterized by the government having complete control over the allocation of resources and the means of production. Great Britain, on the other hand, has a mixed economy with elements of both socialism and capitalism. While it does have a welfare state and government intervention in certain sectors, it also has a significant private sector and market-driven economy. Therefore, Great Britain is not a suitable example for a socialist command economy.

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74. An economy with a high unemployment level tends to have

Explanation

An economy with a high unemployment level tends to have a high supply of money because when people are unemployed, they have less income and therefore less purchasing power. This leads to a decrease in demand for goods and services, causing businesses to reduce their prices in order to attract customers. In response, the central bank may increase the money supply to stimulate economic activity and encourage spending. This increase in the money supply can help to alleviate the high unemployment level by providing individuals and businesses with more liquidity to invest and spend.

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75. Which of the following is a type of regulation that discourages predatory pricing practices and encourages fair trade:

Explanation

Anti-dumping is a type of regulation that discourages predatory pricing practices and encourages fair trade. Predatory pricing refers to the practice of selling goods or services at very low prices in order to drive competitors out of the market. Anti-dumping regulations aim to prevent this by imposing tariffs or duties on imported goods that are sold below their fair market value. This helps to protect domestic industries from unfair competition and promotes a level playing field in international trade.

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