DSST Things to know_Intro to Business

17 the correct answer is d increasing domestic

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17. The correct answer is (D). Increasing domestic inflation would not cause a decline in union membership. 18. The correct answer is (C). A closed shop is one in which all employees are union members and must join upon being hired. POSTTEST Dantes/DSST Program 185 19. The correct answer is (A). A company that produces more with labor than any other factor of production is referred to as laborintensive. 20. The correct answer is (D). Basic research is aimed at discovering knowledge, not its potential uses. 21. The correct answer is (C). Form utility is that which is added by transforming raw materials into finished goods. 22. The correct answer is (B). Risk management is not a major function of marketing. 23. The correct answer is (A). Relationship marketing is a strategy used to encourage brand loyalty. 24. The correct answer is (A). Capital goods are those that are purchased to aid in the construction of other goods. A market that sells products used to aid in the construction of other products is referred to as a producer market. 25. The correct answer is (D). The marketing strategy of individual branding occurs when a firm produces products and advertises them as separate brands. 26. The correct answer is (C). A company does not seek modification through pricing. 27. The correct answer is (B). Break even where TR 5 TC TR 5 P~Q! TC 5 TFC 1 TVC TVC 5 VC~Q! P~Q! 5 FC 1 VC~Q! 4.2Q 5 9,500 1 1.7~Q! 2.5Q 5 9,500
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Q 5 3,800 28. The correct answer is (D). The primary functions of product modification are quality, function, and aesthetics. 29. The correct answer is (C). Comparative advertising is usually based on information gleaned from a scientific study. 30. The correct answer is (B). Selective advertising is designed to sell a particular brand of a product. Primary demand advertising is designed to sell a product but not a particular brand of that product. 31. The correct answer is (A). Newspapers do not necessarily demonstrate loyalty to any business advertising in it. 32. The correct answer is (D). A merchant wholesaler is a middleman that buys and resells goods. 33. The correct answer is (B). Wholesalers are not responsible for any product analysis—their job is sales. INTRODUCTION TO BUSINESS 186 Dantes/DSST Program 34. The correct answer is (C). When the Federal Reserve Board raises the discount rate, there is an economic slowdown. 35. The correct answer is (C). The primary functions of money are as a store of value, medium of exchange, and measure of value. 36. The correct answer is (A). FDIC insurance insures $100,000 per person per bank. 37. The correct answer is (B). Stability refers to money’s ability to retain value over time. The U.S. dollar is far more stable than dollars from regions of economic uncertainty. 38. The correct answer is (D).
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17 The correct answer is D Increasing domestic inflation...

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