Globus Exam 3 Latest Update 2023-2024

Globus Exam 3 Latest Update 2023-2024 Questions and Verified Correct Answers Guaranteed Success 4) The government of Filvia has mandated that the standard minimum wage in the country be increased to $8,000 per year. Which of the following factors in a firm''s general environment does this mandate best indicate?

• ecological factors
• sociocultural factors
• technological factors

D) legal factors - Correct Answer: D

5) Kirsten, a manager, is writing an analysis of her employer''s current and possible future revenues. Which of the following could she identify as an economic factor in her firm''s external general environment?

• the government regulations and laws in the country in which the firm exists
• the stage of the business cycle that the country is in
• the values and norms prevalent in the society in which the firm operates

D) the bargaining power of the firm''s suppliers and buyers - Correct Answer: B

6) Managers at Sandburg Real Estate are surprised to hear that interest rates are likely to remain low for the next six months. Which of the following is an implication of low interest rates?

• Cost of capital for firms will be high.
• Firms will invest less in future growth.
• Economic growth rate will fall.

D) Consumer demand will increase. - Correct Answer: D

7) Marina manages the supply chain for a company that sells diamond watches. She learns that economists are predicting a moderate to severe recession in the next six to eight months. Based on that information, what action should Marina recommend to the company''s owner?

• Increase supply. During recessions, businesses that focus on low-cost solutions

make significant profits.

• Reduce supply. Customers generally reduce their purchases of luxury items when

the economy falters.

• Maintain the supply at its current rate. Economic forecasts are rarely accurate.
• Wait six months and see what happens. Recessions rarely affect consumer

spending. - Correct Answer: B

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8) In a firm''s external environment, ________ primarily capture population characteristics related to age, gender, family size, ethnicity, sexual orientation, religion, and socioeconomic class.

• political trends
• demographic trends
• ecological trends

D) economic trends - Correct Answer: B

9) Anders is researching sociocultural factors related to his employer, a sporting goods manufacturer. Which of the following would be part of the sociocultural forces in a firm''s external environment?

• the interest rates prevalent in an economy
• the laws protecting small enterprises in a nation'
• the family size of the firm''s target market

D) the rate of employee attrition within the firm - Correct Answer: C

10) How is a firm''s task environment different from its general environment?

• Managers have some influence over external factors in the task environment; they

have little direct effect over external forces in the general environment.

• Managers have no direct effect over external factors in the task environment; they

have some influence over external forces in the general environment.

• Managers have no direct effect over external factors in the task environment; they

have influence over all external forces in the general environment.

• Managers have influence over all external factors in the task environment; they have

no direct effect over external forces in the general environment. - Correct Answer: A

11) How do low interest rates affect a business?

• Firms tend to defer investments until rates rise.
• Firms can easily borrow money to finance future growth.
• Consumer demand slows down.

D) Business credit is harder to obtain. - Correct Answer: B

12) The primary objective of Porter''s five forces model is to

• understand valuable, rare, and hard-to-imitate resources.
• understand the profit potential of industries.
• reduce the gap between the value of a firm''s product and its cost of production.
• break down a firm''s value chain activities into primary and support. - Correct

Answer: B

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