MGMT_451_Fall_2011_Practice_Quiz 1

MGMT_451_Fall_2011_Practice_Quiz 1 - a. proper utilization...

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Practice Quiz 1 1. The political/legal segment of an environment represents the: a. political preferences of different ethnic groups in the society. b. technological values of different political entities in society. c. arena where organizations and interest groups compete for attention, resources and a voice in laws and regulations. d. study of attitudes businesses and other organizations have toward government. 2. Economies of scale refer to the fact that as the: a. quantity of product produced in a given time period increases, the cost of manufacturing each unit increases. b. quantity of product produced in a given time period increases, the cost of manufacturing each unit remains constant. c. quantity of product produced in a given time period increases, the cost of manufacturing each unit decreases. d . physical size of the product gets larger, the costs of production become lower. 3. When utilizing the Industrial Organization, or I/O, model the key to success for a firm is:
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Unformatted text preview: a. proper utilization of the firm's human resources. b. selecting the most attractive industry in which to compete. c. identifying the firm's key competitive advantage. d. developing the firm's unique resources and capabilities. 4. The likelihood of entry of new competitors is affected by __________ and __________. a. barriers to entry, expected retaliation of incumbents b. the power of suppliers, buyers c. the profitability of the industry, the market share of its leading firm d. the demand for the product, the profitability of the competitors 5. True / False: Age structure, geographic distribution, income distribution, interest rates, and process innovations are all elements of concern when studying the demographic segment of the general environment. 6. Define Above Average Returns...
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This note was uploaded on 04/04/2012 for the course MGMT 451 taught by Professor Staff during the Spring '08 term at Purdue.

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