C13 Midterm Exam SCORE 95 PERCENT

Question 1        5 / 5 points
As firms enter a perfectly competitive industry,
Question options:

A)     the price falls and the existing firms' economic profits do not change.


B)     the price falls and the existing firms' economic profits decrease.


C)     the price falls and the existing firms' economic losses do not change.


D)     the price rises and the existing firms' economic profits decrease.

Question 2        5 / 5 points
Although tickets to the Rams/Vikings NFC Championship game had a face value of roughly $50, numerous ticket holders willingly sold their tickets for $200 (and up). Consider $200 as the maximum price obtained for a ticket. Excluding other expenses, an economist would say the opportunity cost of attending the game was
Question options:

A)     $50.


B)     $150.


C)     between $150 and $200.


D)     $200.


E)     more than $200.

Question 3        5 / 5 points
Suppose that you deciding between seeing a move and going to a concert on a particular Saturday evening. You are willing to pay $20 to see the movie and the movie ticket costs $5. You are willing to pay $80 for the concert and the concert ticket costs $50. The opportunity cost of going to the movie is:
Question options:

A)     $5.


B)     $30.


C)     $35.


D)     $65.

Question 4        5 / 5 points
Paul runs a shop that sells printers. Paul is a perfect competitor and can sell each printer for a price of $300. The marginal cost of selling one printer a day is $200; the marginal cost of selling a second printer is $250; and the marginal cost of selling a third printer is $350. To maximize his profit, Paul should sell
Question options:

A)     two printers a day


B)     more than three printers a day


C)     three printers a day


D)     one printer a day

Question 5        0 / 5 points
Suppose you play a round of golf costing $75. The golf takes four hours to play. If you were not playing golf you could be working and earning $40 per hour. The opportunity cost of your golf game is:
Question options:

A)     $75.


B)     $235.


C)     $155.


D)     $160.

Question 6        5 / 5 points
In the long run, a perfectly competitive firm can
Question options:

A)     earn an economic profit, earn a normal profit, or incur an economic loss.


B)     earn an economic profit.


C)     incur an economic loss.


D)     earn a normal profit.

Question 7        5 / 5 points
The term "opportunity cost" points out that:
Question options:

A)     there may be such a thing as a free lunch.


B)     executives do not always recognize opportunities for profit as quickly as they should.


C)     any decision regarding the use of a resource involves a costly choice.


D)     not all individuals will make the most of life's opportunities because some will fail to achieve their goals

Question 8        5 / 5 points
Which of the following is an implicit cost of going to college?
Question options:

A)     Tuition


B)     Cost of books and supplies


C)     Room and board


D)     Foregone wages

Question 9        5 / 5 points
Which of the following statements about opportunity costs is TRUE?
I. The opportunity cost of a given action is equal to the value foregone of all feasible alternative actions.
II. Opportunity costs only measure direct out of pocket expenditures.
III. To calculate accurately the opportunity cost of an action we need to first identify the next best alternative to that action.
Question options:

A)     III only.


B)     I and III only.


C)     II only.


D)     None of the statements is true.

Question 10        5 / 5 points
An example of a scarce good is
Question options:

A)     free air.


B)     free medical care in a crowded clinic.


C)     free tumbleweeds.


D)     empty seats at a free Chicago Bulls practice.


E)     None of the above.

Question 11        5 / 5 points
A public good is:
Question options:

A)     a good that the public must pay for.


B)     nonrival in consumption.


C)     more costly than a private good.


D)     paid for by the government.

Question 12        5 / 5 points
Scarcity requires that people must:
Question options:

A)     Trade


B)     Cooperate


C)     Make choices


D)     Complete

Question 13        5 / 5 points
Macroeconomics is converging with microeconomics because
Question options:

A)     macroeconomic relationships depend on microeconomic behavior.


B)     macroeconomics studies total output.


C)     government deficits and unemployment go together.


D)     inflation means a general increase in prices.


E)     microeconomic theories are easily testable whereas macroeconomic theories are difficult to test.

Question 14        5 / 5 points
Market failure can occur when
Question options:

A)     monopoly power exists in the market.


B)     markets are missing.


C)     consumers can influence prices.


D)     moral hazard and adverse selection exist


E)     All of the above

Question 15        5 / 5 points
The most complete definition of an economic system includes
Question options:

A)     incentives, opportunity costs and markets.


B)     resource allocation arrangements, property rights and incentives.


C)     property rights and scarcity.


D)     the laws of supply and demand, the principle of substitution and self-interest.


E)     choice and the law of diminishing returns.

Question 16        5 / 5 points
The demand for a product produced in a perfectly competitive market permanently increases.  In the short run the price
Question options:

A)     rises and each firm produces less output.


B)     does not change because each firm produces more output.


C)     rises and each firm produces more output.


D)     does not change as new firms enter the industry

Question 17        5 / 5 points
Microeconomics is the study of
Question options:

A)     how households spend their limited income.


B)     how business firms make choices.


C)     how prices are determined in markets.


D)     how people decide how many hours to work.


E)     All of the above.

Question 18        5 / 5 points
Microeconomics is the study of
Question options:

A)     the economy as a whole.


B)     the behavior of households as consumers and business as producers.


C)     the behavior of variables such as GDP and the rate of inflation.


D)     the behavior of inflation and unemployment.


E)     the behavior of inflation and interest rates.

Question 19        5 / 5 points
Economic profits are:
Question options:

A)     Total revenue minus total cost


B)     Marginal revenue minus marginal cost


C)     Total revenue minus total opportunity cost


D)     Total profits of the economy as a whole

Question 20        5 / 5 points
According to the concept of scarcity in economics,
Question options:

A)     wants will be fully satisfied sometime in the future


B)     the wants of society cannot be satisfied by the goods and services that can be produced from given resources


C)     there are no free goods


D)     free goods and scarce goods are equally available.


E)     all of the above.

C13 Microeconomics Final Exam SCORE 95 PERCENT

Question 1        2.5 / 2.5 points
Game theory is concerned with
Question options:

A)     predicting the results of bets placed on games like roulette.


B)     the choice of an optimal strategy in conflict situations.


C)     utility maximization by firms in perfectly competitive markets.


D)     the migration patterns of caribou in Alaska.

Question 2        2.5 / 2.5 points
A major threat to longer-term profits exists when barriers to entry into an industry are high.
Question options:

True

False
Question 3        2.5 / 2.5 points
Which of the following is an example of a game theory strategy?
Question options:

A)     You scratch my back and I'll scratch yours.


B)     If the shoe fits, wear it.


C)     Monkey see, monkey do.


D)     None of the above.

Question 4        2.5 / 2.5 points
Which of the following is correct concerning opportunity cost?
Question options:

A)     Except to the extent that you pay more for them, opportunity costs should not include the cost of things you would have 
purchased anyway.


B)     To compute opportunity costs, you should subtract benefits from costs.


C)     Opportunity costs and the idea of trade-offs are not closely related.


D)     Rational people should compare various options without considering opportunity costs.

Question 5        2.5 / 2.5 points
To achieve more market power, firms can:
Question options:

A)     Raise their profit margin on prices


B)     Differentiate their products from the products of their rivals


C)     Lobby the government to eliminate barriers to entry


D)     Reduce their costs of production


E)     Advertise that they charge low prices

Question 6        2.5 / 2.5 points
Carol's Candies is producing 150 boxes of candy a day. Carol's marginal revenue and marginal cost curves are shown in the figure above. To increase her profit, Carol should
Question options:

A)     decrease output to increase profit.


B)     maintain the current level of output to maximize profit.


C)     increase output to increase profit.


D)     Not enough information is given to determine if Carol should increase, decrease, or not change her level of output.

Question 7        2.5 / 2.5 points
Game theory refers to
Question options:

A)     a plan for the actions that a player in a game will take under every conceivable circumstance that the player might face.


B)     a situation in which each player chooses the strategy that yields the highest payoff, given the strategy chosen by the other players.


C)     optimal decision making by microeconomic agents.


D)     the branch of microeconomics concerned with the analysis of optimal decision making in competitive situations

Question 8        2.5 / 2.5 points
In perfect competition, a firm's marginal revenue equals its:
Question options:

A)     Price


B)     Supply curve


C)     Total revenue


D)     Average revenue

Question 9        2.5 / 2.5 points
A dominant strategy
Question options:

A)     is a strong strategy.


B)     guarantees a Nash equilibrium.


C)     is a strategy that is better for a player than any other the player might choose, regardless of the other player's strategy.


D)     depends on the other player's strategy

Question 10        0 / 2.5 points
Which one of the following would Adam Smith agree is an example of market failure requiring government interference?
Question options:

A)     Many dot.com internet based companies go bankrupt in 2000.


B)     Alex Rodriguez is offered $252 million to play baseball for 10 years.


C)     Stock values of many high tech companies fall by more than 50% in 2000.


D)     The production of steel pollutes the air and endangers the environment.


E)     The price of heating oil continues to increase making it difficult, if not impossible, for the poor to be able to afford to heat their homes this winter.

Question 11        2.5 / 2.5 points
In the long run, the monopolist can remain in the industry at a price that is just below long-run average costs.
Question options:

True

False
Question 12        2.5 / 2.5 points
Which of the following is the best example of a public good?
Question options:

A)     an amusement park like Disney World


B)     a civic center owned and operated by the government


C)     a state university


D)     a regional flood control project

Question 13        2.5 / 2.5 points
In game theory, a choice that is optimal for a firm no matter what its competitors do is referred to as the dominant strategy.
Question options:

True

False
Question 14        2.5 / 2.5 points

The above figure shows the total revenue curve for Dizzy Discs. The demand curve for CD's sold by Dizzy Discs
Question options:

A)     has positive slope.


B)     has negative slope.


C)     is horizontal.


D)     is vertical.

Question 15        2.5 / 2.5 points
In the long run, firms under monopoly or oligopoly must earn normal profits.
Question options:

True

False
Question 16        2.5 / 2.5 points
Which one of the following does not occur in perfect competition?
Question options:

A)     Firms and buyers are completely informed about the prices of the products of each firm in the industry


B)     There are significant restrictions on entry into the industry


C)     Firms already in the industry have no advantage over potential new entrants


D)     There are many buyers


E)     No single firm can exert a significant influence on the market price of the good

Question 17        2.5 / 2.5 points
Which of the following will increase the likelihood a person will experience periods of poverty?
Question options:

A)     completing high school rather than dropping out


B)     getting married before having a child


C)     having a child as a teenage single parent


D)     maintaining full-time employment

Question 18        2.5 / 2.5 points
As a firm loses its monopoly status, becoming more competitive as new firms enter the market, the ex-monopoly firm's demand curve:
Question options:

A)     remains the same but is now only part of market demand


B)     shifts to the left and becomes more elastic


C)     shifts to the left and becomes more inelastic


D)     shifts to the right and becomes more elastic


E)     shifts to the right and becomes more inelastic

Question 19        2.5 / 2.5 points
According to Adam Smith's theory of the "invisible hand," businesses will produce the products consumers most desire because
Question options:

A)     this will maximize consumer satisfaction.


B)     the government requires them to do so.


C)     this will maximize business profits.


D)     this will maximize society's welfare.


E)     this will generate consumer "good will."

Question 20        2.5 / 2.5 points
Which one of the following characteristics does not apply to oligopoly?
Question options:

A)     The industry is often characterized by extensive non-price competition


B)     A few large firms account for a high percentage of industry output


C)     Each firm faces a downward sloping demand curve


D)     Many small firms account for a high percentage of industry output

Question 21        2.5 / 2.5 points
Externalities can be positive because
Question options:

A)     there is no concept for marginal benefit.


B)     utility can be impacted positively as well as negatively


C)     marginal damages do not last over time


D)     positive externalities are subsidies

Question 22        2.5 / 2.5 points
In oligopoly:
Question options:

A)     firms compete with each other only by raising and lowering quantity because prices are fixed


B)     the fewness of firms creates mutual interdependence in pricing among the firms


C)     the firm is the industry


D)     firms have no difficulty entering and leaving the market


E)     the firm having a natural monopoly sets price for the others

Question 23        2.5 / 2.5 points
Perfect competition occurs in a market where there are many firms each selling:
Question options:

A)     A similar product


B)     A unique product


C)     A capital intensive product


D)     An identical product


E)     A competitive product

Question 24        2.5 / 2.5 points
One difference between perfect competition and monopolistic competition is that:
Question options:

A)     In perfect competition, the products are slightly differentiated between firms


B)     There are a smaller number of firms in perfectly competitive industries


C)     Monopolistic competition has barriers to entry, whereas perfect competition has none


D)     Firms in monopolistic competition have some degree of market power


E)     There are a larger number of firms in monopolistic competition

Question 25        2.5 / 2.5 points
Price discrimination refers to charging different products in different markets.
Question options:

True

False
Question 26        2.5 / 2.5 points
In game theory, the outcome or consequence of a strategy is referred to as the
Question options:

A)     payoff.


B)     penalty.


C)     reward.


D)     end-game strategy.

Question 27        2.5 / 2.5 points
A game that involves multiple moves in a series of identical situations is called a
Question options:

A)     sequential game.


B)     repeated game.


C)     zero-sum game.


D)     nonzero-sum game.

Question 28        2.5 / 2.5 points
Game theory refers to
Question options:

A)     a plan for the actions that a player in a game will take under every conceivable circumstance  that the player might face.


B)     a situation in which each player chooses the strategy that yields the highest payoff, given the strategy chosen by the other players.


C)     optimal decision making by microeconomic agents.


D)     the branch of microeconomics concerned with the analysis of optimal decision making in
competitive situations.

Question 29        2.5 / 2.5 points
Which of following is an example of a monopolistically competitive firm?
Question options:

A)     Farmer Jones's wheat farm.


B)     Post Breakfast Cereals.


C)     TCI Cablevision, a supplier of cable T.V. services.


D)     T.J.'s Clothes, a local retail clothing store.


E)     None of the above.

Question 30        2.5 / 2.5 points
A game that involves interrelated decisions that are made over time is a
Question options:

A)     sequential game.


B)     repeated game.


C)     zero-sum game.


D)     nonzero-sum game.

Question 31        2.5 / 2.5 points
A firm that considers the potential reactions of its competitors when it makes a decision is engaged in strategic behavior.
Question options:

True

False
Question 32        2.5 / 2.5 points
Public goods can be
Question options:

A)     provided privately


B)     provided publicly


C)     subject to free rider problems


D)     all of the above

Question 33        2.5 / 2.5 points
To cure the problem of externalities, such as pollution, economists recommend that government:
Question options:

A)     regulate polluters.


B)     pursues a policy of laissez-faire, "hands off" businesses.


C)     determine mandatory limits controlling the amount of pollution which businesses may generate.


D)     use the market mechanism to control undesirable externalities.

Question 34        2.5 / 2.5 points
If a good is characterized by easy exclusion but many may concurrently use it without reducing the amount available for others, the good is a:
Question options:

A)     private good


B)     common property resource


C)     toll goods


D)     public good

Question 35        2.5 / 2.5 points
Extensive advertising can be a powerful barrier to entry into an industry:
Question options:

True

False
Question 36        2.5 / 2.5 points
_______, in his 1776 work _______, introduced the concept of the invisible hand.
Question options:

A)     Eli Hecksher; The Wealth of Nations


B)     Adam Smith; The Wealth of Nations


C)     Paul Samuelson; Economics


D)     Karl Marx; The Wealth of Nations

Question 37        0 / 2.5 points
Pure Strategy is:
Question options:

A)     is a specific choice of a strategy from the player's possible strategies in the game, whereas a mixed strategy is a choice between quantity and price optimization.


B)     is a specific choice of a strategy outside of the player's possible strategies in the game, whereas a mixed strategy is a choice among two or more pure strategies according to pre-specified probabilities.


C)     is a specific choice of a strategy outside of the player's possible strategies in the game, whereas a mixed strategy is a choice between quantity and price optimization.


D)     is a specific choice of a strategy from the player's possible strategies in the game, whereas a mixed strategy is a choice among two or more pure strategies according to pre-specified probabilities

Question 38        2.5 / 2.5 points
Suppose Kevin offers to match his competitors' price in an oligopoly market. This will have the effect of
Question options:

A)     Eliminating his competitors' incentive to reduce price if his threat is credible.


B)     Driving out his competition.


C)     Increasing his competitors incentive to reduce price if his threat is credible.


D)     Triggering an antitrust investigation.


E)     None of the above.

Question 39        2.5 / 2.5 points
Under which type of market structure is price rigidity often predicted?
Question options:

A)     Natural monopoly


B)     Imperfect competition


C)     Perfect competition


D)     Pure monopoly


E)     Oligopoly

Question 40        2.5 / 2.5 points
Industrial policy
Question options:

A)     is strategic behavior that takes place at the national level.


B)     may be accomplished by protecting and subsidizing selected industries.


C)     is intended to provide competitive advantage to selected firms.


D)     All of the above.

BM410B Sales Management and Practices Part I - Copy

Question 1
Which of the following is an example of using social capital to help grow a company?
A) The HR manager of a company hires new employees to staff a project that will increase revenue by 25%.
B) The CFO of a company increases the budget of the research and development department so they can create a product that will triple profits in 18 months.
C) The CEO of a company asks a friend in the automotive industry to cut a company-wide discount on corporately-leased vehicles that saves the company $500,000 a year.
D) The Sales Director of a company institutes a policy requiring all new salespeople to train with a senior salesperson for six months before going out into the field alone.

Question 2
Technology can be used by sales managers and sales executives to:
A) keep track of how salespeople are performing
B) align the sales department with the company's mission statement
C) motivate individual salespeople to make more sales calls
D) perform need identification as part of the sales process

Question 3
Another word for "channel" in the phrase "sales channel" is:
A. Order
B. Staff
C. method
D. website

Question 4
A leader who spends most of her time communicating with the public about the company and interacting with her employees to ensure that they have what they need to do their jobs, but who does not engage in planning of activities or employee goals is engaging in which of the Situational Leader styles of leadership?

A. Directing
B. Coaching
C. Implementing
D. Supporting

Question 5
What is a boundary spanner in terms of sales ?
 A. An idea that replaces one discipline with another discipline
B. An idea that crosses two disciplines
C. A person who works with two different organizations
D. A person who works for one company but contracts with another company

Question 6
of the common ethical issues salespeople have with their customers, which one is legal?
A. Kickbacks
B. misrepresentation
C. bribery
D. puffery

Question 7
Use of an electronic data interchange (EDI) system is most appropriate for which type of buying situation?
A. a new buy
b. a modified re-buy
c. a straight re-buy
d. facilitative

Question 8
CRM software differs from SFA software in that CRM software:
A. is hosted on the company's servers so it can only be accessed from on-site
B. has room for more customer contact records
C. contains contact records as well as product specifications
D. connects to multiple systems so everything is integrated across all sales channels

Question 9
According to economic theory, sales managers should hire as many salespeople as possible as long as what?

A. until the market is saturated
B. until the salespeople feel too much competition in the workplace as become dissatisfied
C. as long as each salesperson can sell more than they cost the company
D. as long as the salespeople are willing to work for the wages offered

Question 10
A functional sales structure takes the sales process and

A. makes it easier by cutting out several steps
B. codifies the process in CRM software
C. unifies it by asking salespeople to implement the products they sell to customers
D. separates it into several steps, each preformed by a specialist

Question 11
The annual percentage of employees that leave a company, for whatever reason, is called the:

A. attrition rate
B. turnover rate
C. variable rate
D. controllable rate
Question 12
A training assessment determines:

A. how well the training was conducted
B. how well the attendees retained what they learned in the training
C. how things could be improved for the next time
D. what topics need to be covered in a training program

Question 13
Bloom's cognitive/knowledge categories teach skills that all have to do with dealing with and processing:

A. information.
B. analysis.
C. intelligence.
D. emotions.

Question 14
What does "learning transfer" mean?
A. Learning transfer is another phrase for learning objective.
B. Learning transfer means that what is learned in a training program is retained and then applied in the field.
C. Learning transfer means that the trainer is able to effectively transfer what is in his or head into the minds of the salespeople in the training.
D. A learning transfer is a center staffed with trainers and all the equipment needed to run a company's software and train salespeople on it.

Question 15
One great challenge for managers of sales team is"
A. dealing with more than one salesperson at a time
B. transitioning from a sales role to a managerial role
C. determining how to compensate the different members of the team equitably
D. finding time to sell to the manager's own accounts

Question 16
Output-based goals consist of:

A. the number of products a company manufactures.   

B. the selling results a salesperson is expected to achieve.   

C. the sales forecasts for each specific account.   

D. the activities a salesperson performs to contact customers.   

Question 17
Herzberg's Two-Factor Approach theorizes that two types of rewards need to be present for a salesperson to be motivated. These two types are:
A. concept and process.   
B. formal and informal.   
C. motivation and hygiene.   
D. emotional and logistical.   

Question 18
Managers who understand McClelland's Needs Approach will give their salespeople rewards that combine which of the following aspects?

A. Aachievement, recognition, and money   
B. Aachievement, affiliation, and power   
C. Mmoney, recognition, and power   
D. Knowledge, skills, and attitudes   

Question 19
Workers from the Mature generation are motivated by:
 A. flexible time.   
B. collaborative work experiences.   
C. informal communication.   
D. respect, experience, and formality.   

Question 20
A variable that predicts what will happen with the sales of another product is referred to as that product's:

A. dependent.   
B. predecessor.   
C. leading indicator.   
D. moving average.   

Question 21
The second step in the CDI process, which makes the data useful to others, involves:
A. gathering the data initially.   
B. analyzing the data with software.   
C. creating forecasts.   
D. cleaning and formatting data to company naming and categorizing standards.   

Question 22
The industry-wide sales expected for a certain product for a certain time period is are called:
A. total revenue.   
B. market potential.   
C. market push.   
D. net receipts.   

Question 23
A pipeline analysis shows:
a. how many products are currently being manufactured
b. where customers are at different stages of the sales process
c. how many cold calls a salesperson made in the previous period
d. what the salesperson's total revenue was for the previous period

Question 24
The four-factor model is a simple and elegant way to get a snapshot of
a. how the relationship between input measures and output measures works
b. the total activity of the sales force
c. two important input activities and how they interact with two important output activities
d. four measures with no correlation to each other

Question 25
A low context culture is one in which
A. there are many unspoken messages
B. Speakers frame their words with conventions such as "if God grants it"
C. non-verbal communication is more frequent than verbal communication
D. words mean what they mean

BM350 Marketing Management Part I - Copy

Question 1
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand

Question 2
Consider the real estate industry. The ________ for this industry includes construction companies, financing institutions, paint manufacturers, interior decorators, furniture manufacturers, and plumbing industries.
A) marketspace
B) latent market
C) need market
D) metamarket

Question 3
When demand is ________, it implies that more customers would like to buy the product than can be satisfied.
A) latent
B) irregular
C) overfull
D) full

Question 4
What is the traditional view of marketing?
A) Firms should just focus on production because if the products are good then they will automatically sell.
B) Firms should just focus on production and selling because marketing occurs as a part of the selling process.
C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them.
D) Firms should price their products as low as possible so that marketing them becomes easy.

Question 5
The value of an offering is described as ________.
A) the price consumers are charged for a product
B) the cost of manufacturing a product
C) the degree to which consumer demand for a product is positive
D) the sum of the tangible and intangible benefits and costs to customers

Question 6
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________.
A) negative demand
B) latent demand
C) declining demand
D) irregular demand

Question 7
The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.
A) organizational plan
B) strategic marketing plan
C) corporate tactical plan
D) corporate mission

Question 8
________ is a direction or sequence of events that has some momentum and durability; it reveals the shape of the future and can provide strategic direction.
A) fad
B) fashion
c) trend
D) megatrend

Question 9
A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A) data warehousing system
B) viral marketing campaign
C) product management system
D) marketing intelligence system

Question 10
Which of the following would be the best illustration of a secondary belief or value?
A) belief in work
B) belief in giving to charity
C) belief in getting married
D) belief in getting married early

Question 11
The ________ phase of marketing research is generally the most expensive and the most prone to error.
A) data collection
B) research planning
C) questionnaire design
D) contact

Question 12
According to the concept of ________, a series of increasingly more specific "why" questions can reveal consumer motivation and consumers' deeper, more abstract goals.
A) word association
B) projection
C) visualizing
D) laddering

Question 13
The ________ phase of marketing research is generally the most expensive and the most prone to error.
A) data collection
B) research planning
C) questionnaire design
D) contact

Question 14
The marketing research process begins by ________.
A) developing a research plan
B) defining the problem, the decision alternatives, and research objectives
C) analyzing the internal environment
D) reading marketing research journals

Question 15
Total customer satisfaction is measured based on the relationship of ________.
A) expected value and total customer benefit
B) perceived performance and expectation
C) advertised outcomes and real outcomes
D) past experience and present experience

Question 16
_______ is the process by which we select, organize, and interpret stimuli into a meaningful and coherent picture.
A) Consumption
B) Perception
C) Acculturation
D) Assimilation

Question 17
________ is the tendency to interpret information in a way that will fit our preconceptions.
a.    Selective retention
b.    Cognitive dissonance
c.    Selective distortion
d.    Subliminal perception

Question 18
A given percentage increase in consumer demand can lead to a much larger percentage increase in the demand for plant and equipment necessary to produce additional output. Economists refer to this as:
A) derived demand
B) inelastic demand
C) the acceleration effect
D) a straight rebuy

Question 19
A company's ________ includes all the experiences the customer will have on the way to obtaining and using the offering.
A) value proposition
B) value delivery system
C) customer-value analysis
D) total customer benefit

Question 20
In reordering office supplies, the only stages that the buyer passes through are the product specification stage and the ________ stage.

A) problem recognition
B) general need description
C) order-routine specification
D) performance review

Question 21
The process of building, maintaining, and using customer databases and other databases for the purpose of contacting, transacting, and building customer relationships is called ________.
A) data warehousing
B) data mining
C) database marketing
D) participatory marketing

Question 22
Identify the four pillars of brand equity, according to brand asset valuator model.
A) relevance, performance, bonding, and advantage
B) presence, performance, advantage, and bonding
C) energized differentiation, relevance, esteem, and knowledge
D) brand salience, brand feelings, brand imagery, and brand performance

Question 23
Brand equity can be built by ________, which create(s) equity by linking the brand to other information in memory that conveys meaning to customers.
A) internal marketing
B) brand transferability
C) secondary associations
D) customer alignment

Question 24
____ are associations designed to overcome perceived weaknesses of the brand
A) Conceptual points-of-parity
B) Category points-of-parity
C) Competitive points-of-parity
D) Competitive points-of-difference

Question 25
________ brands are positioned with respect to competitors' brands so that more important (and more profitable) flagship brands can retain their desired positioning.
A) Flanker
B) Attacker
C) Defender
D) Simulation

ENV100T Week 3 WileyPLUS Weekly Exam

Question 1
How are San Francisco, California, and Mount Saint Helens, Washington related?


    Both lie on a geological plate boundary.

    Both are part of the same mountain range.

    They were formed by the same volcanic event.

    Both are regions of upwelling.

Question 2
In soil formation, the parent material provides:


    humus

    minerals

    water-holding capacity

    mycorrhizae

Question 3
What percentage of the earth's land area is suitable for agriculture?


    1%

    6%

    11%

    27%

Question 4
Which of the following identifies a method used to separate impurities from molten metal?


    tailings

    phytoremediation

    mine drainage

    smelting

Question 5
Which of the following statements about nutrient cycling is TRUE?


    Bacteria and fungi are involved in nutrient cycling as they decompose detritus transforming large organic molecules into small inorganic molecules, including carbon dioxide, water, and nutrient minerals like nitrates.

    Nutrient cycling is the pathway of various nutrient minerals or elements from the environment through organisms and back to the environment.

    Nonliving processes are also involved in nutrient cycling, such as the weathering of the parent material replaces some nutrient minerals lost through erosion.

    All of the above statements are true about nutrient cycling.

Question 6
Contour plowing, strip cropping, and terracing are soil conservation methods that are BEST suited to which of the following situations?


    Arid soils prone to salinization

    Nitrogen depleted soils

    Reclaimed mine areas

    Soils located on slopes

Question 7
In the diagram below, the horizontal layers are called ___ while the entire vertical section of the soil from surface to bedrock is called ___.

    soil horizons…soil profile

    topsoil…topography

    soil profile…leaching

    humus…soil horizons

Question 8
Which of the following minerals is INCORRECTLY paired with its use(s)?


    aluminum – electrical wiring

    iron – steel

    sand – glass and concrete

    sulfur – making plastics and wallboard

Question 9
The hill of loose rock produced as a by-product of strip mining is known as:


    overburden.

    a spoil bank.

    an open pit.

    acid mine drainage.

Question 10
Fifty percent of all the wood that is harvested from the world's forests is:


    made into furniture

    used in producing paper

    burned directly as fuelwood

    used to make children's toys

Question 11
Public lands may be used for:


    resource extraction

    livestock grazing

    wildlife habitat

    all of the above
Question 12
What is the relationship of overgrazing to desertification?


    Overgrazing is the destruction of a grassland ecosystem; desertification is the destruction of a desert ecosystem.

    Overgrazing results in barren exposed soil; if erosion continues, it contributes to desertification.

    Overgrazing is brought about by livestock operations; desertification is brought about by crop cultivation.

    Overgrazing and desertification are both a result of the introduction of non-native species coupled with extended droughts.
   
Question 13
Sustainable forestry:


    seeks to conserve forests for the long-term commercial harvest of timber and non-timber forest products by maintaining a mix of forest trees, by age and species, rather than imposing a monoculture.

    due to the complexity of goals, is most effective when it involves cooperation among environmentalists, loggers, farmers, indigenous peoples, and local, state, and federal governments.

    approaches vary from one forest ecosystem to another, in response to different environmental, cultural, and economic conditions.

    is all of the above.

Question 14
Which of the following statements about forests in the U.S. is FALSE?


    The majority (well over 50%) of U.S. forests are owned and managed by private individuals.

    Forests in the eastern U.S. are holding steady or even expanding due to secondary succession on abandoned farmland.

    One of the biggest threats to forests in the U.S. is their potential subdivision and conversion to suburban development like housing and shopping malls.

    Projected conversion of forests to agriculture, urban, and suburban lands over the next 40 years will have the greatest potential impact in the south.

Question 15
Habitat corridors are intended to provide:


    additional habitat fragmentation.

    increase in species richness within forest monocultures.

    a means for controlling insect pests and invasive species.

    a means of migration so animals can interbreed.

Question 16
What is the reason that forests tend to be cooler and moister than surrounding open lands?


    elevation

    latitude

    canopy cover

    transpiration

Question 17
A protected zone that connects isolated unlogged or undeveloped areas is called:


    a habitat corridor

    sustainable forestry

    shelterwood cutting

    a monoculture

Question 18
Which of the following is a benefit of pesticide use?


    with repeated application of pesticide, pests develop genetic resistance

    pesticides reduce the amount of crop lost through competition with weeds

    pesticides exhibit persistence, degrading slowly

    pesticides show mobility, moving other than where they were applied

    pesticidesbioaccumulate in the food chain

Question 19
Which of the following statements about pesticides is false?


    The prolonged use of a particular pesticide can cause a pest population to develop genetic resistance to it.

    Most pesticides affect more species than the pests for which they are intended.

    Pesticides applied to agricultural lands tend to stay where they are applied.

    Most pesticides are chemically stable and do not degrade readily in the environment.

    Pesticides reduce the amount of crop loss through consumption by insects.
Question 20
What would a narrow-spectrum pesticide kill?


    its target organism

    indiscriminate organisms in the vicinity of its spray

    thin-leaved plants

    tapered insects such as wasps and ants

    all organisms in a restricted range

ENV100T Week 2 WileyPLUS Weekly Exam SCORE 100 PERCENT

Question 1
Keystone species:
    are only found in aquatic habitats.
    are always found at the top of the food chain.
    are vital to the soil balance of an entire ecosystem.
    are usually not the most abundant species in the ecosystem.

Question 2
All of the following traits are characteristic of the adaptations of prey EXCEPT:

    producing toxins.
    having the appearance of twigs or leaves.
    warning coloration.
    all of the above are characteristic prey adaptations

Question 3
The nitrogen cycle is one of the most important and complex of the biogeochemical cycles. Why is nitrogen important?

    It's an Ozone depleting gas
    It's an essential part of biological molecules such as proteins and nucleic acids (DNA)
    It's the most toxic element to living organisms
    Nitrogen dilutes the oxygen in the atmosphere causing respiratory problems

Question 4
What important process might be severely impacted by colony collapse disorder?

    nutrient cycling
    pollination
    symbiosis
    predation

Question 5
What is the step in the nitrogen cycle in which gaseous nitrogen is converted into ammonia?

    ossification
    ammonification
    assimilation
    nitrogen fixation

Question 6
The mushrooms seen growing here gets its nutrition from:

    Decomposing dead organic material that is the dead tree.
    Photosynthesis.
    Capturing earthworms and other soil invertebrates.
    The living tree itself.

Question 7
How does the phosphorus cycle DIFFER from the carbon cycle?

    There is little or no human impact on the phosphorus cycle.
    Phosphorus is not a critical component of living organisms.
    The hydrosphere plays a role in the phosphorus cycle.
    The atmosphere does not contribute to the phosphorus cycle.

Question 8
Approximately what percentage of the atmosphere is CO2?

    0.001%
    0.04%
    10%
    30%

Question 9
How are temperate rain forests and the boreal forest similar?

    Both have mild winters
    Both are dominated by conifers
    Both have tree species that are drought adapted
    Both experience dense fogs

Question 10
The biomes that commonly have fire-adapted species and are known for supporting herds of grazing animals are:

    temperate grassland and temperate deciduous forest.
    temperate grassland and savanna.
    chaparral and boreal forest.
    boreal forest and temperate deciduous forest.

Question 11
Individuals within a population each have a unique combination of traits, which is known as:

    Genetic variation.
    Reproductive capacity.
    Evolution.
    Differential reproductive success.

Question 12
Which of the following biomes is NOT known for its wood and lumber production?

    temperate rain forest
    taiga
    chaparral
    temperate deciduous forest

Question 13
What is the main difference between short and tall grass prairies?

    One is dominated by grasses and the other is dominated by forbs.
    Tall grass prairies receive more rainfall than short grass prairies.
    Short grass prairies occur in warmer latitudes than tall grass prairies.
    Tall grass prairies typically have colder winters than short grass prairies.

Question 14
Which biome has considerable organic material in the soil, annual precipitation of 10-30 inches, and periodic wildfires to maintain the dominant vegetation?

    temperate deciduous forest.
    chaparral.
    temperate grassland.
    boreal forest.

Question 15
What biome is most likely to have the following temperature and rainfall profile?
    savanna
    boreal forest
    tropical rainforest
    temperate deciduous forests

Question 16
Which of the following is a biological control that is used to suppress wild fires in chaparral?

    viral diseases
    goats
    introduced species
    insect herbivores


Question 17
All of the following apply to estuaries EXCEPT:

    There provide very valuable breeding grounds for commercially important fish and shellfish.
    There is no salinity in estuarine ecosystems due to large supply of fresh water from a river.
    Plants and algae that grow here have high tolerance for changing environmental conditions like salinity and light penetration.
    These coastal ecosystems provide a barrier against the ocean during storms.

Question 18
The graph below is a record of the population size of reindeer on one of the Pribilof Islands off the coast of Alaska where they were introduced in 1911. If it is known that the availability of winter forage determines the carrying capacity for reindeer, what can be interpreted from this graph?



    The population crashed due to overgrazing by the reindeer.
    An environmental resistance factor like disease caused the population to decline somewhat.
    Some reindeer were lost to predation by wolves.
    Some reindeer emigrated to another island.

Question 19
The young age structure of urban areas can be attributed to:

    high birth rates in urban areas
    influx of young people from rural areas
    high death rates in urban areas
    the presence of more females than males in urban areas

Question 20
Which factors eventually cause birth rates to decline during a demographic transition?

    Birth rates decline due to improved health care and modern medicines.
    Birth rates decline due to increased education of women.
    Birth rates decline due to increased contraceptive use.
    All of these choices ultimately contribute to declining birth rates.

Question 21
According to the demographic transition model, an improving economy in a country is generally correlated with which of the following?

    Increased birth rate and increased population growth rate
    Increased death rate and decreased population growth rate
    Decreased birth rate and increased population growth rate
    Decreased birth rate and decreased population growth rate
Question 22
What change in human population growth is predicted by the United Nation's population models?

    Population will double by 2100.
    Population will begin to level off by 2100.
    Population will continue to grow exponentially.
    Population will level off by 2525.

Question 23
What is probably the single most important factor affecting high total fertility rate in human populations?

    Limited access to family planning services.
    The low status of women in many societies.
    The economic status of large families.
    Cultural traditions.

Question 24
Who was the first scientist to sound the alarm about the growth of the human population and the ability of the earth to handle a large population of humans?

    Charles Darwin
    Paul Ehrlich
    Thomas Malthus
    Rachel Carson

Question 25
What do population ecologists study?

    How animal communities form and interact
    How groups of animals of the same species respond to their environment
    The impact of humans on the environment
    How ecosystems fit into the landscape

ENV100T Week 1 WileyPLUS Weekly Exam -SCORE 100 PERCENT

Question 1
Why is a risk analysis usually performed in solving environmental problems?

    To provide public awareness and endorsement.
    To monitor the initial assessment and modeling of the problem.
    To solicit public opinion about how evidence should be interpreted when selection a course of action.
    To analyze the potential effect of an intervention versus doing nothing.

Question 2
A state agency has contacted you to do a scientific assessment of kudzu in a nature preserve in southern Georgia. They are concerned about the effects of the non-native invasive vine on a small rare plant that grows on the forest floor in the preserve, but which is found nowhere else in the state. Kudzu is only growing in the east side of the preserve because it hasn't yet had time to invade further. In order to assess the effects of kudzu on the rare plant, you set up the following experiment:

Site 1. On the east side of the park with the kudzu, you set up ten 1m × 1m plots on the forest floor. In each plot you count the number of individuals of the rare plant.
Site 2. On the west side of the park without the kudzu, you set up ten 1m × 1m plots of the forest floor. In each plot you count the number of individuals of the rare plant.

Based solely on the data represented in the associated table, what can you report to the agency that contracted you to do this study?

Site    Mean number of individuals of rare plant per plot
Site 1    1.7
Site 2    4.2
    Kudzu is shading out the rare plant.
The rare plant is unaffected by the presence of the kudzu.

    Fewer individuals of the rare plant grow in the presence of kudzu when compared to areas without kudzu.

    It will be impossible to remove kudzu from the park because it grows too fast.

Question 3
The resource shown here can be classified as:
1. perpetually renewable
2. nonrenewable
3. renewable only if they are replanted and given time to grow

    1 only
    2 only
    3 only
    both 1 and 2

Question 4
What does this graph suggests about our current use of fossil fuels?
    We are treating this resource sustainably as the number of barrels of oil consumed has increased over time.

    We are depleting this non-renewable resource at a rate faster today than 20 years ago.

    The price of oil will continue to decrease as there is more oil supply than there is demand.

    We have found many new sources of oil as reflected in the increase in oil consumption.

Question 5
What does the phrase "environmental sustainability" imply?


    The actions of humans directly impact the wellbeing of the natural environment.

    Future generations will have the resources necessary for quality of life.

    A shared global responsibility is necessary for conservation practices.

    All of the above are implied by environmental sustainability.

Question 6
Which of the following ecological footprints is the largest?

    Ecological footprint of a single individual in U.S.

    Ecological footprint of a single individuals in France

    Ecological footprint of a single individuals in India

    Ecological footprint of 6 individuals in India

Question 7
The photograph below is an image of Times Square in New York City. Based on the photo, what do you think is USA's most likely contribution to environmental problems?

1. Environmental sustainability due to the population density in NYC
2. People overpopulation due to the population density in NYC
3. Consumption overpopulation as reflected by the advertising billboards


    1 only

    2 only

    3 only

    1 and 2 are both reflected in the photograph
Question 8
What is the environmental significance of the process of "consumption"?

    Consumption can outstrip the natural resources available and lead to overexploitation of the environment.

    Extravagant consumption can create an environment of raising one's status among peers.

    The process of consumption is an economic act, providing the "demand" necessary for the "supply" of the environment.

    Consumption can generate economic growth that relies significantly on the importation of natural resources, which benefits the environments of less-developed countries.

Question 9
A personal perspective based on a collection of basic values and beliefs about how the environment works, that helps us make sense of our place and purpose in it, and determine right and wrong behaviors describes:

    Voluntary simplicity
    Deep ecology worldview
    Western worldview
    Environmental worldview

Question 10
What does the photograph BEST represent?
    A deep ecology worldview.
    Sustainable consumption.
    Child labor.
    Poverty.

Question 11
Widespread adoption of sustainable consumption at the global level will not be easy because:

    sustainable consumption requires the eradication of poverty which requires that poor people increase their consumption of certain essential resources to improve the quality of their lives and these resources are no longer available.

    sustainable consumption requires that the consumption patterns of people in highly developed countries must change to allow for the eradication of poverty and such changes in the lifestyles of people in highly developed countries is a challenge.

    sustainable consumption requires that everyone embrace voluntary simplicity on a compulsory basis and while this is supported by politicians, economists are not in support.

    sustainable consumption requires the excessive reliance on global resources that will result in a tragedy of the commons.

Question 12
Which of the actions indicated in the photographs below would be the BEST way to address the goal of mitigating climate change for achieving sustainable living:

Energy Neutral Construction
Family Planning in Egypt
Bicycle Rack in Amsterdam
Restoration in Indonesia


    Energy Neutral Construction

    Family Planning in Egypt

    Bicycle Rack in Amsterdam

    Restoration in Indonesia

Question 13
A type of sustainable consumption which recognizes that individual happiness and quality of life are not necessarily linked to the accumulation of material goods but rather that a person's values and character define that individual more than how many things he or she own is known as:

    environmental ethics
    voluntary simplicity
    sustainable development
    environmental justice

Question 14
What rights does environmental justice seek to provide?

    Adequate protection from environmental hazards.
    Adequate wealth to live in clean neighborhoods.
    The right to follow western worldview ideas.
    Ability to live the deep ecology lifestyle.

Question 15
Environmental sustainability implies:

    the actions of humans directly impact the wellbeing of the natural environment
    future generations will have the resources necessary for quality of life
    the environment can function indefinitely without going into a decline from the stresses imposed by human society on natural systems
    all of these choices

Question 16
Which of the following is the BEST example of sustainable consumption?

    Constructing a house on farmland on the edge of town and carpooling to work.
    Flying to the Bahamas for a weekend getaway.
    Preparing a meal at home with food bought at the local farmers market.
    Purchasing five pairs of shoes at a local minority owned business.

Question 17
National income accounts are incomplete estimates of national economic performance because national income accounts do NOT include

    gross domestic product
    net domestic product
    estimates of imported goods and services
    estimates of external costs such as natural resource depletion and the environmental cost of economic activities

Question 18
Which of the following was probably the MOST significant event in 1999 to impact the environment?

    The Kyoto Protocol was signed by the United States.
    The Exxon Valdez created the world's largest oil spill.
    World human population reached 6 billion individuals.
    The first Earth Day celebration was held.

Question 19
What type of pollution control strategy does the Clean Air Act mainly depend on?

    command-and-control regulation.
    incentive-based regulation.
    relative control regulation.
    environmental impact statements.

Question 20
What is the BEST definition of preservation?

    Setting aside land and natural resources.
    Careful management of land and resources.
    Using land and natural resources based on current needs.
    Multiple use management of land and natural resources.

Question 21
The study of how people use their limited resources to try to satisfy their unlimited wants is:

    business analysis.
    model testing.
    hypothesis development.
    economics.

Question 22
In economic terms, oils and chemicals burning in the Cuyahoga River would represent:

    a national income account
    overuse of a sink
    overuse of a source
    an increase in natural capita

Question 23
What does the diagram below illustrate?

    EIS
    NEPA
    NIMBY
    Kyoto Protocol

Question 24
All of the following endangered species have recovered enough to be removed from the endangered species list except:

    American alligator
    California gray whale
    Bald eagle
    Manatee

Question 25
Any part of the natural environment used to promote the welfare of people or other species is called:

    conservation
    preservation
    a resource
    multiple use management