ICMP-Manager essentials test 4

1. In the long run, what is the usual result of unethical behavior on a company or organization?

• increased efficiency

• reduced performance

• reduced salaries

• increased effectiveness

2. Which barrier to entry makes it very costly to build customer awareness of a newcomer's product in the marketplace?

• Technological barriers

• Brand loyalty

• Administrative barriers

• Economies of scale

3. Which level of management develops departmental objectives and policies for achieving organizational objectives?

• Senior management

• Middle management

• Supervisory management

• Operative management

4. What is a legally enforceable agreement between two or more parties?

• a combination

• a warranty

• a contract

• a negotiable instrument

5. Which is the most likely source of unhappiness associated with a nation's move from socialism toward capitalism?

• The distribution of wealth will become less equal

• Tax rates will increase

• Less wealth will be created.

• People will have less economic freedom.

6. A manager who has the responsibility of communicating the organization's ethical standards to employees and enforcing these standards is known as a:

• social auditor.

• ethics ombudsman

• whistle-blower.

• chief stakeholder.

7. Which is an example of a programmed decision?

• Deciding whether or not to launch a new product

• Buying a new type of equipment

• Deciding on next year's goals for the company

• Administering a routine merchandise return policy

8. In the long run, how will the market price and the equilibrium price of a good tend to compare to one another?

• they will not affect each other

• 2. the market price will be higher

• the two prices will be equal

• the market price will be lower

9. A manager who instructs her subordinates to do tasks that assist the organization to accomplish its objectives is performing which function of management?

• Organizing

• Controlling

• Planning

• Leading

10. Deciding on the company's objectives for the coming fiscal year is what type of decision?

• 1. Intuitive decision

• Non programmed decision

• Irrational decision

• Programmed decision