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Test Bank for Contemporary Business, 18e Louis Boone, David Kurtz, Susan Berston (All Chapters)
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Package Title: Chapter 1, Testbank
Course Title: Boone, 18e
Chapter Number: 1
Question type: Multiple Choice
1) _____ involves blending individuals of different genders, ethnic backgrounds, cultures, reli- gions, ages, and physical and mental abilities in order to enhance a firm’s chances of success.
a) Outsourcing
b) Diversity
c) Entrepreneur
d) Competitive differentiation
e) Strategic alliance
f) Capital
g) Vision
h) Factors of production
i) Brand
j) Relationship management
k) Not-for-profit organizations
l) Business ethics
Answer: b
Difficulty: Medium
Learning Objective 1: 1.5
Section Reference 1: Explain current workforce trends in business.
Standard 1: AACSB || Analytic
Bloomcode: Knowledge
2) _____ refers to technology, tools, information, and physical facilities.
a) Outsourcing
b) Diversity
c) Entrepreneur
d) Competitive differentiation
e) Strategic alliance
f) Capital
g) Vision
h) Factors of production
i) Brand
j) Relationship management
k) Not-for-profit organizations 2 / 4
l) Business ethics
Answer: f
Difficulty: Medium
Learning Objective 1: 1.2
Section Reference 1: Identify and describe the factors of production.
Standard 1: AACSB || Analytic
Bloomcode: Knowledge
3) _____ is the unique combination of organizational abilities, products, and approaches that sets a company apart from competitors in the minds of consumers.
a) Outsourcing
b) Diversity
c) Entrepreneur
d) Competitive differentiation
e) Strategic alliance
f) Capital
g) Vision
h) Factors of production
i) Brand
j) Relationship management
k) Not-for-profit organizations
l) Business ethics
Answer: d
Difficulty: Medium
Learning Objective 1: 1.3
Section Reference 1: Describe the private enterprise system.
Standard 1: AACSB || Analytic
Bloomcode: Knowledge
4) A partnership formed to create a competitive advantage for the businesses involved is known as a(n) _____.
a) Outsourcing
b) Diversity
c) Entrepreneur
d) Competitive differentiation
e) Strategic alliance
f) Capital
g) Vision 3 / 4
h) Factors of production
i) Brand
j) Relationship management
k) Not-for-profit organizations
l) Business ethics
Answer: e
Difficulty: Medium
Learning Objective 1: 1.4
Section Reference 1: Identify the seven eras in the history of business.
Standard 1: AACSB || Analytic
Bloomcode: Knowledge
5) A(n) _____ is a name, term, sign, symbol, design, or combination that identifies the products of one firm.
a) Outsourcing
b) Diversity
c) Entrepreneur
d) Competitive differentiation
e) Strategic alliance
f) Capital
g) Vision
h) Factors of production
i) Brand
j) Relationship management
k) Not-for-profit organizations
l) Business ethics
Answer: i
Difficulty: Medium
Learning Objective 1: 1.4
Section Reference 1: Identify the seven eras in the history of business.
Standard 1: AACSB || Analytic
Bloomcode: Knowledge
6) The ability to perceive future marketplace needs and what an organization can do to satisfy them is referred to as _____.
a) Outsourcing
b) Diversity
c) Entrepreneur
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