The financial value placed on an object involved in an exchange is

1.Human relations is concerned with all of the following except A.the needs of employees. B.employee motivation. C.job performance. D.morale. E.sales.

2.Human relations is important in business primarily because A.it can prevent unions. B.it affects worker morale and productivity. C.employees like it, although management doesn't. D.the government mandates it. E.all of the above.

3.Frederick Taylor and other early twentieth-century management theorists believed which of the following would motivate employees to work hard?

A.A long lunch break
B.Adequate tools and long hours
C.Satisfactory pay
D.Nice bosses and long vacations
E.All of the above

4.The Hawthorne Studies were important because they

A.introduced the idea that social and psychological factors affect productivity and morale.
B.presented important botanical data.
C.showed that workers should control the workplace.
D.used fear as a motivator.
E.dealt with self-actualization needs.

5.Prior to the Hawthorne Studies, management theorists believed that the primary motivators of employees were job security and

A.recognition.
B.money.
C.awards.
D.praise.
E.punishment.

6.All of the following are activities performed by human resources managers except

A.planning.
B.recruiting.
C.selling.
D.training.
E.compensating.

7.The qualifications necessary for a specific job are spelled out in the job ___________.

A.evaluation.
B.specification.
C.analysis.
D.description.
E.assessment.

8.Vikram, a Ph.D., has worked in the Monsanto research lab as a chemist for several years. He is currently participating in a series of management seminars at company expense. This is an example of

A.development
B.orientation
C.training
D.an assessment center
E.performance appraisal.

9.Downsizing is most likely the result of

A.violations of company rules.
B.excessive absenteeism.
C.frequent tardiness.
D.efforts to increase productivity and competitiveness.
E.excellent work.

10.The major reason for forming a labor union is that

a. a group has more clout with management than an individual
b. management always listens to groups.
c. unions are good social groups.
d. unions are socialistic
e. unions force emmployers to hire too many people

11.Marketing creates value by

A.increasing the price of goods.
B.helping people obtain what they need and want.
C.spending large amounts on advertising.
D.informing people of new products.
E.manipulating people into buying products they don't want.

12.When a pharmaceutical company devotes a large proportion of its overall budget to researching and developing a drug that has potential to be a blockbuster but whose efficacy and safety remains unproven, the company is engaging in

A.transporting
B.storing
C.financing
D.risk taking
E.inventory analysis

13.Among the marketing functions are:

A.production, distribution, and consumption
B.financing, market researching, buying, and selling
C.comparing performance to standards and correcting performance
D.directing, controlling, and planning
E.all of the above

14.During the Industrial Revolution, new technologies fueled strong ________ for products and a product orientation held sway.

A.marketing research
B.advertising
C.marketing concept
D.supply
E.demand

15.In the 21st century, ________ remains an essential element of any marketing strategy to develop and manage long-term customer relationships.

A.Distribution
B.Pricing
C.Researching and developing
D.Communication
E.Grading

16.Industrial products such as lumber, cotton, and iron are classified as

A.major equipment
B.supplies
C.accessory equipment
D.raw materials
E.component parts

17.If a product is experiencing negative profits and the company is spending a great deal of money on advertising to make consumers aware of the product, the product is most likely in the following life cycle stage:

A.growth
B.decline
C.introduction
D.maturity
E.intermediate

18.If a company is eliminating certain models of a product and cutting back on expenditures, the product is most likely in which life cycle stage?

A.Growth
B.Decline
C.Introduction
D.Intermediate
E.Maturity

19.Because buyers have limited ____________, they must allocate them in such a way as to obtain the products they most desire.

A.resources
B.time
C.patience
D.storage space
E.attention spans

20.The financial value placed on an object involved in an exchange is

A.the price
B.the discount
C.comparable value
D.negotiated value
E.nominal value