Test Bank and Instructor Resources for Business in Action, 9th Edition

Overview


A concise and comprehensive introduction to business

Business in Action remains the premier, comprehensive textbook for important introductory business principles and concepts. Featuring a highly organized, objective-driven structure, the text incorporates relevant, contemporary examples and trends from the business world. Now 16 chapters (down from 20), the 9th Edition has been streamlined to better match the needs of the course. New material, visuals, and assessment questions cover the full spectrum of contemporary business topics without filler or fluff. So students can focus on what’s important -- developing the skills today’s business leaders are looking for.


 Table of Contents

PART 1: SETTING THE STAGE: THE BUSINESS OF BUSINESS

1. Developing a Business Mindset

2. Economics, Money, and Banking

3. The Global Marketplace

4. Business Ethics and Corporate Social Responsibility

PART 2: BUILDING THE FRAMEWORK: BUSINESS OWNERSHIP AND ENTREPRENEURSHIP

5. Forms of Ownership

6. Entrepreneurship and Small-Business Ownership

PART 3: GUIDING THE ENTERPRISE: LEADERSHIP, ORGANIZATION, AND OPERATIONS

7. Management Roles, Functions, and Skills

8. Organization and Teamwork

9. Production Systems

PART 4: SUPPORTING THE WORKFORCE: MOTIVATION AND HUMAN RESOURCES

10. Employee Motivation

11. Human Resources Management

PART 5: SATISFYING THE CUSTOMER: MARKETING, SALES, AND CUSTOMER SUPPORT

12. The Art and Science of Marketing

13. Product Management and Pricing Strategies

14. Customer Communication and Product Distribution

PART 6: MANAGING MONEY: ACCOUNTING AND FINANCIAL RESOURCES

15. Financial Information and Accounting Concepts

16. Financial Management and Financial Markets


What resources are included in this purchase?


  • Instructor's Resource Manual
  • Test Bank - Word & PDF


Random Sample of Test Bank

Business in Action, 9e (Bovee/Thill)

Chapter 3   The Global Marketplace

 

1) The classic theory of comparative advantage suggests that each country should ________.

A) attempt to maintain a trade surplus by exporting more than what it imports

B) attempt to maintain a trade deficit by importing more than what it exports

C) produce all goods and services it requires for domestic consumption

D) specialize in those areas where it can produce more efficiently than other countries

E) produce a wide range of products to maintain an attractive international portfolio

Answer:  D

Explanation:  The classic theory of comparative advantage suggests that each country should specialize in those areas where it can produce more efficiently than other countries, and it should trade for goods and services that it can't produce as economically.

Difficulty:  2: Moderate

AACSB:  Analytical thinking

LO:  3.1: Explain why nations trade, and describe how international trade is measured.

 

2) One way a company benefits from economies of scale when it ________.

A) does not use centralization of production and distribution

B) produces goods or services in multiple locations

C) adopts a highly differentiated marketing strategy

D) engages in the production of personalized products

E) manufactures and distributes products in higher quantities

Answer:  E

Explanation:  Purchasing, manufacturing, and distributing higher quantities will enable companies to produce goods and services at lower costs. This occurrence is referred to as economies of scale.

Difficulty:  2: Moderate

AACSB:  Application of knowledge

LO:  3.1: Explain why nations trade, and describe how international trade is measured.

 

3) A country has a trade surplus when the ________. 

A) value of its exports exceeds the value of its imports

B) exchange rate of its currency with other currencies is variable

C) exchange rate of its currency with other currencies is fixed

D) value of its imports exceeds the value of its exports

E) total flow of money into the country equals the total flow of money out of the country

Answer:  A

Explanation:  When the value of goods and services exported by a country exceeds the value of goods and services it imports, the country has a positive balance of trade, or a trade surplus.

Difficulty:  2: Moderate

AACSB:  Application of knowledge

LO:   3.1: Explain why nations trade, and describe how international trade is measured.


 

4) A country has a trade deficit when the ________. 

A) exchange rate of its currency with other currencies is fixed

B) exchange rate of its currency with other currencies is variable

C) value of its exports exceeds the value of its imports

D) total flow of money into the country equals the total flow of money out of the country

E) value of its imports exceeds the value of its exports

Answer:  E

Explanation:  When the value of goods and services imported by a country exceeds the value of goods and services it exports, the country has a negative balance of trade or a trade deficit.

Difficulty:  2: Moderate

AACSB:  Application of knowledge

LO:  3.1: Explain why nations trade, and describe how international trade is measured.

 

5) A country's balance of payment equals the ________.

A) money spent on procuring services minus money spent on procuring goods

B) total flow of money into the country minus the total flow of money out of the country

C) gross domestic product of the country minus the gross national product of the country

D) money spent on producing services minus money spent on producing goods

E) money spent on buying goods minus money spent on producing goods

Answer:  B

Explanation:  The balance of payments is the broadest indicator of international trade. It is the total flow of money into the country minus the total flow of money out of the country over some period of time.

Difficulty:  2: Moderate

AACSB:  Application of knowledge

LO:  3.1: Explain why nations trade, and describe how international trade is measured.

 

6) The number of units of one currency that must be given for a unit of the second currency is known as the ________ between the currencies.

A) balance payment

B) trading bloc

C) tariff rate

D) exchange rate

E) trade balance 

Answer:  D

Explanation:  The number of units of one currency that must be exchanged for a unit of the second currency is known as the exchange rate between the currencies.

Difficulty:  2: Moderate

AACSB:  Application of knowledge

LO:   3.1: Explain why nations trade, and describe how international trade is measured.


 

7) When the U.S. dollar is strong, U.S. exports will likely ________.

A) become more competitive in foreign markets

B) cost more in other countries

C) be limited by the U.S. government

D) face embargoes in developing nations

E) be restricted by governments across the world

Answer:  B

Explanation:  Exchange rates can dramatically affect a company's financial results by raising or lowering the cost of supplies it imports and raising or lowering the price of goods it exports. A strong dollar will raise the cost of the U.S. exports.

Difficulty:  2: Moderate

AACSB:  Analytical thinking

LO:  3.1: Explain why nations trade, and describe how international trade is measured.

Test Bank and Instructor Resources for Business in Action, 9th Edition

  • Model:
  • Availability: In Stock
$15.00