Negative feedback should be directed towards _____.

1. 1. any and all shortcomings
   2. delegation
   3. behavior that can be controlled
   4. improving understanding between parties

The financial information has to be checked for _____.

1. 1. Completeness
   2. Consistency
   3. Accuracy
   4. All of the above

DELL sold most of its computers directly to its customers, thus saving _____.

1. 1. Indirect cost
   2. Direct cost
   3. Marketing and miscellaneous cost
   4. Retail markups

Which of the following is not a business opportunity generated by globalization?

1. 1. Access to low cost labour
   2. Cheap International transport
   3. Currency crises
   4. Less stringent regulation of the business environment

When a company is able to reduce fixed cost per unit by producing in large quantities, this is known as _____.

1. 1. Differentiation
   2. Economies of Scale
   3. Competitive Advantage
   4. Focus

Which of the following steps in the strategic planning process should be completed first?

1. 1. Create a mission statement
   2. Translate objectives into goals
   3. Determine actions to achieve goals
   4. Develop performance measures

What do companies call a met of benefits that they promise to consumers to all satisfy their needs?

1. 1. value proposition
   2. demand satisfaction
   3. need proposition
   4. market offering

According to the modern quantity theory, inflation will result whenever _____.

1. 1. The money supply grows faster than money demand
   2. The money supply grows faster than price level
   3. The money supply grows faster than normal inocm
   4. the money demand grows faster than money supply

If at the current level of output, the firm’s marginal revenue is less than its marginal cost, then firm should _____.

1. 1. increase output
   2. shut down
   3. expand its capital stock
   4. decrease oputput

If the price of a good rises and households incomes go up by exactly the same proportion, then the quantity of the good demanded will _____.

1. 1. Increase
   2. decrease
   3. Show an unpredictable effect
   4. decrease or stay the same, but not increase