BUS 475 Capstone Final Examination Part 1
1. In the managerial function of __________, managers encourage and motivate workers to work toward organizational goals.
2. eBay.com is a vast auction site that is similar to a competitive market in some ways but differs from it in others. Which of the following describes how eBay resembles a competitive market?
a) On eBay the large sellers dominate the market.
b) Sellers sometimes do not describe the products accurately on eBay.
c) There is a great variety of different products sold on eBay.
d) It is easy to enter and easy to leave eBay.
3. From the point of view of consumer surplus and producer surplus, what problem was created when Thailand subsidized the cost of energy to consumers to help alleviate the burden of higher energy costs?
a) It encouraged the consumption of too much fuel at the expense of other goods.
b) It has no effect; consumers gained consumer surplus, but taxpayers lost the same amount because they had to finance the subsidy.
c) It hurt the poor and benefitted the rich.
d) It led to less fuel being used than the amount that maximizes consumer surplus.
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4. The following is an example of a moral value judgment:
a) Keith Lewis must be a total flake.
b) The senator dresses well.
c) As an actress, Paris Hilton has a nice clothes rack.
d) I don’t deserve to be flunked for an honest mistake.
5. Research on the five-stage model of group development shows that
a) all groups pass through the norming stage.
b) not all groups go through each of the stages.
c) groups always pass through the stages in order.
d) all groups pass through the adjourning stage.
6. A standardized language used to manipulate data is