Deck 1: The Perfect Storm

Question 1

Downloading anything found on the Internet is legal.

Answer 1

False

Question 2

A seeder is

A) A person who finds new talent, and seeds the industry
B) A type of digital recording process
C) A way to short cut the copyright registration process through something like a shark deal
D) The person who illegally uploads an entertainment product from a hard disk drive

Answer 2

D

Question 3

Napster

A) Was the first digital company responsible for the increase in recorded music sales and profits in the late 1990s
B) Was an Internet-based company that started the ""creative destruction"" process of the music industry
C) Was supported by the Recording Association of America (RIAA)
D) Was sponsored by the International Federation of Phonographic Industry (IFPI)

Answer 3

B

Question 4

The term ""creative destruction"" describes

A) An industrial mutation that incessantly revolutionizes the economic structure from within, and incessantly destroys the old one, incessantly (creating) a new one
B) How the traditional entertainment industry companies and artists may increase their profits from album sales
C) Explains the increase in job opportunities for audio engineer, record producers, artists, and musicians
D) Explains the increases in CD and DVD sales in record chain stores

Question 5

According to the Leichtman Research Group (2015)

A) The largest pay for TV providers such as Comcast and others have increased their viewers by slightly over 400%
B) Continued to have about the same number of viewers
C) Are planning on selling their businesses
D) Have lost over half a million subscribers in a three-month period (Q2-2015)

Question 6

Copyrights provide ownership protection to

A) Inventions
B) Creative works such as songs and movies
C) Names of people, businesses, and their products
D) Ideas

Question 7

Illegal downloads have reduced the sale and revenues to labels by

A) There has been an increase in traditional and digital recording sales
B) 1
C) 0.663
D) 0.13

Question 8

The current problems facing the entertainment industry have been caused by

A) The development of the Internet
B) A change in consumers' behavior as they now acquire products free
C) Personal devices such as computers and iPhones
D) A shift in the quality of the programming of entertainment products

Question 9

The 301 Special Report from the Office of the President of the United States claims

A) The problems of trademark counterfeiting and copyright piracy continue on a global scale
B) 1
C) There is a positive increase in employment, earning, and taxes due to consumers acquiring consumer and entertainment products free
D) Consumers, legitimate producers, and governments are harmed by trademark counterfeiting and copyright piracy
E) Producers and their employees face diminished revenue and investment incentives, an adverse employment impact, and loss of reputation.

Question 10

Internet illegal downloads have cost the ecomony

A) Nothing
B) $422 million in taxes
C) $2.7 billion in earnings
D) 71,060 jobs

Question 11

Technological inventions often lead to

A) New types of personal devices for sale to consumers
B) An opportunity for the investment and creation of entertainment products
C) Consumers using or buying access to the entertainment products on the devices
D) Consumers spreading the gossip or ""word"" about their enjoyment of the products being seen or heard on the devices
E) Consumers stealing the entertainment products on the devices without paying for the products or subscribing to a streaming service

Question 12

The term ""Perfect Storm"" as related to the entertainment industry in a book by Stephen Witt depicts

A) How the entertainment industry has profited from the combination of events and technology to increase their profits
B) How many discoveries and events came together at the same time to cause the destruction of the traditional entertainment industry
C) How the combination of new technology created an opportunity for consumers to illegally acquire entertainment products
D) How workers at a music label pressing plans are able to steal new albums and upload them to the Internet
E) How the development of software consumers could use without being traced is being used to steal copyrighted products

Question 13

The research firm Pricewaterhouse-Coopers projects that by 2019 the entertainment and media market in global music industry (including recorded music and touring) will

A) Stay the same
B) Decrease to $14.3 billion
C) Decrease $123 billion
D) Increase to $29 billion

Question 14

The research firm Pricewaterhouse-Coopers projects that by 2019 the entertainment and media market in video games will

A) Decrease to $56 billion
B) Increase to $93.18 billion
C) Be about $71 billion
D) Stay the same

Question 15

A digital signal is simply

A) A row of numbers (called a binary code) of 0's and 1's or a magnetic pulse or no pulse that is converted by the computer chip into 0's and 1's, which is then converted into a "sound"
B) A magnetic recording of the number of vibrations and the amount of the vibrations per second
C) An analog signal being transmitted over the public airwaves
D) The type of signal that when converted is full of distoration and noise

Question 16

The millennial generation are to blame for the destruction of the traditional entertainment business.

Question 17

Psychographic research defines people's personal preferences for products and lifestyles into different types for marketing research.

Question 18

Illegal downloads of entertainment products cost $2.7 billion in lost earnings to the industry.

Question 19

Wannabe entertainers such as a person who records a cover of a song, shoots a video, and uploads it to Youtube.com are saving the industry.

Question 20

Entrepreneurs and businesses invest in new discoveries and devices to create entertainment products consumers may buy or use on those devices.

Question 21

The Perfect Storm is a widespread business or cultural term from a book that was turned into a movie.

Question 22

A digital signal is simply a row of numbers (called a binary code) of 0's and 1's or a magnetic pulse or no pulse that is converted by the computer chip into 0's and 1's, which is then converted into a "sound."

Question 23

A leecher is a person who illegally uploads products to the Internet.

Question 24

The term ""creative destruction"" was coined by a student named Fanning.

Question 25

Movie companies spend between $10-$40 million to create a movie.

Question 26

The difference between capitalism and socialism/communism is the right to own personal property.

Question 27

The key to the advent of small personal devices is

A) Their small size which makes them portable
B) They are more convienient
C) May be used any place, at anytime
D) They have provided extra profits for the sale of recordings and movies
E) They provide access to entertainment products by all types of consumers