QuestionQuestion 1.1.(TCO 1) _____ refer to a resource or capability a company must have before it can start competing in a given market.(Points : 5)Assets Economies of scaleBarriers to entryTechnological requirementsFixed costsQuestion 2.2.(TCO 1) The _____ function of an organization coordinates the incoming flow of materials and the outgoing flow of finished products.(Points : 5)financelogisticshuman resourcepurchasingsalesQuestion 3.3.(TCO 1) Which of the following positions would be responsible for establishing the long-term financial goals of the company, investing its funds and raising capital for the business?(Points : 5)Cash managerInternal auditorChief information officerForensic accountantTreasurerQuestion 4.4.(TCO 1) When the number of competitors in a market is quite small, a situation known as _____ is created.(Points : 5)monopolymonopsonyoligopolymonopolistic competitionpure competitionQuestion 5.5.(TCO 1) _____ is a steady rise in the average prices of goods and services throughout the economy.(Points : 5)Recession DepressionDeflationInflationArbitrationQuestion 6.6.(TCO 1) ________ taxes, levied on the earnings of individuals and businesses, are the government’s largest single source of revenue.(Points : 5)IncomePropertySalesExcisePayrollQuestion 7.7.(TCO 1) _____ intelligence involves reasoning, problem solving, memorization, and other rational skills.(Points : 5)CognitiveEmotionalSocialCollaborativeNetworkingQuestion 8.8.(TCO 1) The overall plan might be supported at the next level down by such plans as a research and development plan, a manufacturing plan, and a marketing plan. Such functional plans are called _____ plans.(Points : 5)appraisalstrategiccontingencytacticalcorporateQuestion 9.9.(TCO 1) _____ is the management function of keeping a company’s activities on track toward previously established goals.(Points : 5)OrganizingLeadingPlanningMotivatingControllingQuestion 10.10.(TCO 2) An embargo is a _____.(Points : 5)quantity restriction on the import of particular goods or servicessurcharge imposed on the import of certain productssubsidy offered to products exported from a countrycomplete ban on the import or export of certain productsform of financial assistance extended to domestic producersQuestion 11.11.(TCO 2) The _____ was established to foster international financial cooperation and its primary functions include providing short-term loans to countries that are unable to meet their financial obligations and working to alleviate poverty in developing economies.(Points : 5)World Trade OrganizationWorld Commerce CenterEuropean UnionNorth American Free TreatyInternational Monetary FundQuestion 12.12.(TCO 2) _____ refers to buying goods or services from a supplier in another country.(Points : 5)FranchisingImportingLicensingPartneringIntermediatingQuestion 13.13.(TCO 2) _____ refers to the degree to which information flows freely within an organization, among managers and employees, and outward to stakeholders.(Points : 5)PhilanthropyMaterialismWhistle-blowingTransparencyUtilitarianismQuestion 14.14.(TCO 2) Which of the following is an example of whistle-blowing?(Points : 5)An employee discloses confidential information about the company to a rival firm for personal gain.An employee suggests some process changes to his manager that he claims will increase the productivity of the team.An employee avoids taking ownership of his mistakes by blaming it on his coworkers. An employee informs the manager that some of his team members are misusing confidential customer details from the company database.An employee who is unsatisfied with his performance appraisal requests his manager for a re-evaluation of his performance.Question 15.15.(TCO 2) Which of the following statements is true regarding ethical decision making?(Points : 5)When an employee is unable to make a decision because more than one side of an issue can be supported with valid arguments, it is called an ethical lapse.The disclosure of information by a company insider that exposes unethical behavior by others within the organization is called an ethical lapse. Stakeholders’ needs often conflict, requiring managers to make tough decisions about resource allocation.Making objective decisions will lead to ethical lapses. When the question of what is right and what is wrong is clear, ethical decisions are easy