GB 350 2 (CASCIO - OLE MISS)
PRACTICE EXAMINATION 2026
QUESTIONS WITH ANSWERS GRADED
A+
◍ The United States has a policy on imported sugar from Brazil that is
described as follows: US businesses are allowed to import 300 kgs of sugar
at a tariff rate of 6.2%. Any imports in excess of 300 kgs will be subject to a
tariff of 12%. Which of the following is described by this scenario?
A. Absolute Quota
B. Embargo
C. Free trade agreement
D. Tariff rate quota.
Answer: Tariff Rate Quota
◍ Indulgence (vs Restraint).
Answer: extent to which members value need gratification
◍ WHEN - Consumer Behavior.
Answer: Hump Day hits the spot for social media engagement
◍ Compensatory alternative evaluation model.
Answer: consumer will compromise on some attributes to find the
alternative with the best net benefit (present desired attributes -- lacking
desired attributes)
◍ Utilitarian Value.
Answer: value derived from a product or service that helps the consumer
solve problems and accomplish tasks
◍ Objective.
, Answer: set to allow us to MEASURE how well we're performing when it
comes to what we're trying to do as an organization.
◍ - helps identify acceptable business practices and control behavior
internally- avoids confusion in decision making- facilitates discussion about
right and wrong.
Answer: role of code of ethics
◍ Individualism (vs Collectivism).
Answer: extent to which members feel responsible to themselves and
immediate families (vs. others in the group)
◍ US-Mexico-Canada Agreement.
Answer: removes tariffs on trade among those countries
◍ - important to society, business, and opportunities- marketing affects
everyone, everyday.
Answer: Why do we study marketing?
◍ Most important characteristics of Effective corporate social responsibility.
Answer: Must be perceived as authentic
◍ Are demographics important?.
Answer: YES
◍ Secondary, Direct reference group.
Answer: large formal group
◍ Ethics in business.
Answer: few concepts/rules as to what is good or bad developed as a result
of cultural values and norms
◍ Formal/informal groups.
Answer: associations, businesses all have codes of conduct. certain
situations allow for different types of behavior and ethics dictate what is
acceptable.
◍ Three "Sets".
Answer: 1. Evoked/Consideration2. Inept3. Inert
, ◍ Market penetration.
Answer: increase market share among EXISTING products
◍ Gross Domestic Product.
Answer: total market value of all FINAL goods and services produced in a
country for a given period
◍ Morals.
Answer: foundation for ethics and tend to be enduringBelief about what's
right or wrong is typically hard to change people's minds
◍ Indirect, Aspirational reference group.
Answer: group someone wants to join
◍ Self-actualization needs.
Answer: self-development and realization
◍ Inept.
Answer: unacceptable alternatives, either due to situation or negative
attributeschange opinions of unacceptable attributeshighlight presence of
competitors' negative attributes
◍ Market development.
Answer: attract NEW customers to existing product
◍ vision statement.
Answer: who we want to be
◍ Selective distortion.
Answer: consumer changes or distorts information that conflicts with
feelings/beliefs
◍ Culture and Values.
Answer: set of values, norms, attitudes and other meaningful symbols that
shape human behavior and the products of that behavior as they are
transmitted from one generation to the next
◍ Social, Desired self-concept.
PRACTICE EXAMINATION 2026
QUESTIONS WITH ANSWERS GRADED
A+
◍ The United States has a policy on imported sugar from Brazil that is
described as follows: US businesses are allowed to import 300 kgs of sugar
at a tariff rate of 6.2%. Any imports in excess of 300 kgs will be subject to a
tariff of 12%. Which of the following is described by this scenario?
A. Absolute Quota
B. Embargo
C. Free trade agreement
D. Tariff rate quota.
Answer: Tariff Rate Quota
◍ Indulgence (vs Restraint).
Answer: extent to which members value need gratification
◍ WHEN - Consumer Behavior.
Answer: Hump Day hits the spot for social media engagement
◍ Compensatory alternative evaluation model.
Answer: consumer will compromise on some attributes to find the
alternative with the best net benefit (present desired attributes -- lacking
desired attributes)
◍ Utilitarian Value.
Answer: value derived from a product or service that helps the consumer
solve problems and accomplish tasks
◍ Objective.
, Answer: set to allow us to MEASURE how well we're performing when it
comes to what we're trying to do as an organization.
◍ - helps identify acceptable business practices and control behavior
internally- avoids confusion in decision making- facilitates discussion about
right and wrong.
Answer: role of code of ethics
◍ Individualism (vs Collectivism).
Answer: extent to which members feel responsible to themselves and
immediate families (vs. others in the group)
◍ US-Mexico-Canada Agreement.
Answer: removes tariffs on trade among those countries
◍ - important to society, business, and opportunities- marketing affects
everyone, everyday.
Answer: Why do we study marketing?
◍ Most important characteristics of Effective corporate social responsibility.
Answer: Must be perceived as authentic
◍ Are demographics important?.
Answer: YES
◍ Secondary, Direct reference group.
Answer: large formal group
◍ Ethics in business.
Answer: few concepts/rules as to what is good or bad developed as a result
of cultural values and norms
◍ Formal/informal groups.
Answer: associations, businesses all have codes of conduct. certain
situations allow for different types of behavior and ethics dictate what is
acceptable.
◍ Three "Sets".
Answer: 1. Evoked/Consideration2. Inept3. Inert
, ◍ Market penetration.
Answer: increase market share among EXISTING products
◍ Gross Domestic Product.
Answer: total market value of all FINAL goods and services produced in a
country for a given period
◍ Morals.
Answer: foundation for ethics and tend to be enduringBelief about what's
right or wrong is typically hard to change people's minds
◍ Indirect, Aspirational reference group.
Answer: group someone wants to join
◍ Self-actualization needs.
Answer: self-development and realization
◍ Inept.
Answer: unacceptable alternatives, either due to situation or negative
attributeschange opinions of unacceptable attributeshighlight presence of
competitors' negative attributes
◍ Market development.
Answer: attract NEW customers to existing product
◍ vision statement.
Answer: who we want to be
◍ Selective distortion.
Answer: consumer changes or distorts information that conflicts with
feelings/beliefs
◍ Culture and Values.
Answer: set of values, norms, attitudes and other meaningful symbols that
shape human behavior and the products of that behavior as they are
transmitted from one generation to the next
◍ Social, Desired self-concept.
