Question 1

Which of the following is measured by a report that assesses how a product is produced?

Accepted Answer

A) Process 
B) Inputs 
C) Warrantees 
D) Outcomes 
E) Longevity 
A) Process 
B) Inputs 
C) Warrantees 
D) Outcomes 
E) Longevity

Question 2

Which of the following is another term for "teaching to the test?"

Accepted Answer

A) Sample bias 
B) Test variance 
C) Teaching discrimination 
D) Multitasking 
E) None of the above 
A) Sample bias 
B) Test variance 
C) Teaching discrimination 
D) Multitasking 
E) None of the above

Question 3

Products for which consumers cannot easily evaluate quality even after purchasing and using the product are called:

Accepted Answer

A) Experience goods 
B) Search goods 
C) Retail goods 
D) Consumer goods 
E) Credence Goods 
A) Experience goods 
B) Search goods 
C) Retail goods 
D) Consumer goods 
E) Credence Goods

Question 4

Which of the following would make an outcome report card difficult to produce?

Accepted Answer

A) Large sample of outcome measures 
B) Small sample of outcome measures 
C) Many outcomes from one product 
D) Many sellers produce similar products 
E) Consumers purchase high quantities of the product 
A) Large sample of outcome measures 
B) Small sample of outcome measures 
C) Many outcomes from one product 
D) Many sellers produce similar products 
E) Consumers purchase high quantities of the product

Question 5

Which of the following is a statistical process in which raw outcome measures are adjusted for factors that are beyond the control of the seller?

Accepted Answer

A) Risk adjustment 
B) Mean reversion 
C) Score adjustment 
D) Noise limiting 
E) Outcome adjustment 
A) Risk adjustment 
B) Mean reversion 
C) Score adjustment 
D) Noise limiting 
E) Outcome adjustment

Question 6

Which of the following is measured by a report card that assesses product performance?

Accepted Answer

A) Process 
B) Inputs 
C) Warrantees 
D) Outcomes 
E) Longevity 
A) Process 
B) Inputs 
C) Warrantees 
D) Outcomes 
E) Longevity

Question 7

Which of the following serves as a voluntary signal of quality?

Accepted Answer

A) Warrantee 
B) Independent reviews 
C) Truth in Advertising 
D) Free product financing 
E) Public claims 
A) Warrantee 
B) Independent reviews 
C) Truth in Advertising 
D) Free product financing 
E) Public claims

Question 8

Which of the following best describes a credence good?

Accepted Answer

A) Products for which consumers can easily evaluate quality even after purchasing and using the product 
B) Products for which consumers rely on other purchasers' experience before buying 
C) Products for which consumers cannot easily evaluate quality even after purchasing and using the product 
D) Products for which consumers always,or almost always,purchase with a warranty 
E) None of the above 
A) Products for which consumers can easily evaluate quality even after purchasing and using the product 
B) Products for which consumers rely on other purchasers' experience before buying 
C) Products for which consumers cannot easily evaluate quality even after purchasing and using the product 
D) Products for which consumers always,or almost always,purchase with a warranty 
E) None of the above

Question 9

Products for which consumers cannot easily compare product characteristics and value information from others are called:

Accepted Answer

A) Experience goods 
B) Search goods 
C) Retail goods 
D) Consumer goods 
E) Credence Goods 
A) Experience goods 
B) Search goods 
C) Retail goods 
D) Consumer goods 
E) Credence Goods

Question 10

Which of the following is not a way in which consumers can benefit from report cards?

Accepted Answer

A) Easy identification of high quality sellers 
B) Increases in demand elasticity incent sellers to improve quality 
C) Good report cards lead to more advertising 
D) Report cards improve sorting by consumers 
E) Consumers can more easily identify quality sellers 
A) Easy identification of high quality sellers 
B) Increases in demand elasticity incent sellers to improve quality 
C) Good report cards lead to more advertising 
D) Report cards improve sorting by consumers 
E) Consumers can more easily identify quality sellers

Question 11

Which of the following is not a reason for customer survey bias in quality measures?

Accepted Answer

A) Different customers may use different measurement criteria 
B) Customers may have an incentive to inflate ratings to influence the average score 
C) Customers often lie in consumer surveys 
D) Customers are reluctant to leave negative feedback 
E) Consumer feedback is unverifiable. 
A) Different customers may use different measurement criteria 
B) Customers may have an incentive to inflate ratings to influence the average score 
C) Customers often lie in consumer surveys 
D) Customers are reluctant to leave negative feedback 
E) Consumer feedback is unverifiable.

Question 12

Which of the following is measured by a report card that assesses the quality of finished products?

Accepted Answer

A) Process time 
B) Input costs 
C) Warranty claims 
D) Competitor pricing 
E) Total cost of manufacture 
A) Process time 
B) Input costs 
C) Warranty claims 
D) Competitor pricing 
E) Total cost of manufacture

Question 13

Why would a report card that measures inputs possibly lead to multitasking?

Accepted Answer

A) Sellers would raise the price of goods with low quality inputs 
B) Consumers would only know the "ingredients" in a production process 
C) The cost of the report card would be passed on in lower product quality 
D) Sellers may invest only in reported inputs but scale back on unreported inputs 
E) Firms will not disclose poor report card scores 
A) Sellers would raise the price of goods with low quality inputs 
B) Consumers would only know the "ingredients" in a production process 
C) The cost of the report card would be passed on in lower product quality 
D) Sellers may invest only in reported inputs but scale back on unreported inputs 
E) Firms will not disclose poor report card scores

Question 14

Location can provide which of the following?

Accepted Answer

A) Vertical differentiation 
B) Horizontal differentiation 
C) Isolation 
D) Customer switching costs 
E) Availability of substitutes 
A) Vertical differentiation 
B) Horizontal differentiation 
C) Isolation 
D) Customer switching costs 
E) Availability of substitutes

Question 15

Which of the following terms describes when efforts to promote improvements on one dimension of performance are confounded by changes in other dimensions of performance?

Accepted Answer

A) Multitasking 
B) Co-linearity 
C) Test bias 
D) Dimension bias 
E) Linking 
A) Multitasking 
B) Co-linearity 
C) Test bias 
D) Dimension bias 
E) Linking

Which of the following is measured by a report that assesses how a product is produced?

Which of the following is another term for "teaching to the test?"

Products for which consumers cannot easily evaluate quality even after purchasing and using the product are called:

Which of the following would make an outcome report card difficult to produce?

Which of the following is a statistical process in which raw outcome measures are adjusted for factors that are beyond the control of the seller?

Which of the following is measured by a report card that assesses product performance?

Which of the following serves as a voluntary signal of quality?

Which of the following best describes a credence good?

Products for which consumers cannot easily compare product characteristics and value information from others are called:

Which of the following is not a way in which consumers can benefit from report cards?

Which of the following is not a reason for customer survey bias in quality measures?

Which of the following is measured by a report card that assesses the quality of finished products?

Why would a report card that measures inputs possibly lead to multitasking?

Location can provide which of the following?

Which of the following terms describes when efforts to promote improvements on one dimension of performance are confounded by changes in other dimensions of performance?

The Power of Principles: A Historical Perspective

The Horizontal Boundaries of the Firm

The Vertical Boundaries of the Firm

Integration and Its Alternatives

Competitors and Competition

Entry and Exit

The Dynamics Competing Across Time

Industry Analysis

Strategic Positioning for Competitive Advantage

Sustaining Competitive Advantage

Performance Measurement and Incentives

Strategy and Structure

Environment, Power, and Culture

Economics Primer

Filters

Exam 10: Information and Value Creation

Which of the following is measured by a report that assesses how a product is produced?

Which of the following is another term for "teaching to the test?"

Products for which consumers cannot easily evaluate quality even after purchasing and using the product are called:

Which of the following would make an outcome report card difficult to produce?

Which of the following is a statistical process in which raw outcome measures are adjusted for factors that are beyond the control of the seller?

Which of the following is measured by a report card that assesses product performance?

Which of the following serves as a voluntary signal of quality?

Which of the following best describes a credence good?

Products for which consumers cannot easily compare product characteristics and value information from others are called:

Which of the following is not a way in which consumers can benefit from report cards?

Which of the following is not a reason for customer survey bias in quality measures?

Which of the following is measured by a report card that assesses the quality of finished products?

Why would a report card that measures inputs possibly lead to multitasking?

Location can provide which of the following?

Which of the following terms describes when efforts to promote improvements on one dimension of performance are confounded by changes in other dimensions of performance?

The Power of Principles: A Historical Perspective

The Horizontal Boundaries of the Firm

The Vertical Boundaries of the Firm

Integration and Its Alternatives

Competitors and Competition

Entry and Exit

The Dynamics Competing Across Time

Industry Analysis

Strategic Positioning for Competitive Advantage

Sustaining Competitive Advantage

Performance Measurement and Incentives

Strategy and Structure

Environment, Power, and Culture

Economics Primer

Filters