Practice Quiz

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6. When the buyer has a low profit margin, what happens to the seller’s bargaining power?
  1. It decreases.
  2. It increases.
  3. It stays the same.
  4. The seller’s bargaining power is not affected by the buyer’s profit margin.
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7. Which of the following does not necessarily increase competition between companies?
  1. The presence of many roughly equal competitors
  2. High overhead costs
  3. Slow industry growth
  4. Industry deregulation
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8. Which business strategy relies on production that adjusts to meet immediate market demand to reduce the costs associated with idle workers and facilities?
  1. Industrial production
  2. Just-in-time production
  3. Last-in, first-out production
  4. Streamlined production
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9. Which of the following is not an example of firm infrastructure giving a competitive advantage?
  1. Negotiators maintaining positive relationships with industry regulators
  2. Reducing costs by implementing efficient IT systems
  3. Company officers working with important customers to close a deal
  4. The marketing department helping the company enter a new market
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10. Which of the following best measures a company’s ability to meet short-term obligations?
  1. Liquidity
  2. Profitability
  3. Productivity
  4. Leverage
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