Question 1

For-profit businesses and nonprofit organizations are similar in that they both:

Accepted Answer

A) contribute to the welfare of society. 
B) seek to earn a profit. 
C) have a limited life. 
D) must be controlled by a board of directors. 
A) contribute to the welfare of society. 
B) seek to earn a profit. 
C) have a limited life. 
D) must be controlled by a board of directors.

Question 2

In some cities the number of legal and illegal immigrants has caused governments to adapt by changing signs to other languages.

Accepted Answer

A) True 
 B)False

Question 3

Taxes and government regulations are part of the ________________ environment of business.

Accepted Answer

A) economic and legal 
B) competitive 
C) social 
D) technological 
A) economic and legal 
B) competitive 
C) social 
D) technological

Question 4

Rob is an emergency room nurse at a local hospital in Texas.On a weekly basis,he will serve a number of patients who are not legally U.S.citizens.Many of them are giving birth to babies.Fortunately,Rob speaks enough Spanish to communicate with the patients.Rob is experiencing the realities of the social environment in some states.

Accepted Answer

A) True 
 B)False

Question 5

Over many years the nature of U.S.business has changed very little from century to century.

Accepted Answer

A) True 
 B)False

Question 6

The B2B Internet market consists of selling goods and services to consumers.

Accepted Answer

A) True 
 B)False

Question 7

Trace the evolution of American business.Identify the key trends,and discuss the implications these trends have for the future.

Accepted Answer

For most of our nation's history,the agr

Question 8

Marla Staples is concerned with identity theft.One of the ways that she can protect her information from leaking-out to the wrong hands is:

Accepted Answer

A) Avoid all e-commerce transactions because this is the only type of buying transactions where websites and others handle sensitive,personal information. 
B) Install antivirus software,firewalls,and anti-spyware software on her computer. 
C) Limit her purchases with vendors that she knows do not store her information in a database. 
D) Limit her travels to the United States because identity theft is an international problem. 
A) Avoid all e-commerce transactions because this is the only type of buying transactions where websites and others handle sensitive,personal information. 
B) Install antivirus software,firewalls,and anti-spyware software on her computer. 
C) Limit her purchases with vendors that she knows do not store her information in a database. 
D) Limit her travels to the United States because identity theft is an international problem.

Question 9

Effectiveness means producing goods and services using the least amount of resources.

Accepted Answer

A) True 
 B)False

Question 10

Almost all of the growth in employment opportunities since the mid-1980s has been generated by the service sector.

Accepted Answer

A) True 
 B)False

Question 11

Since businesses strive to earn a profit,their owners benefit at the expense of the rest of society.

Accepted Answer

A) True 
 B)False

Question 12

Technology affects people in:

Accepted Answer

A) all industries. 
B) most industries. 
C) information technology industries with the exception of agriculture. 
D) primarily high income countries. 
A) all industries. 
B) most industries. 
C) information technology industries with the exception of agriculture. 
D) primarily high income countries.

Question 13

Technology refers to everything that makes business operations more effective,efficient,and productive.

Accepted Answer

A) True 
 B)False

Question 14

__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable.

Accepted Answer

A) Depreciation 
B) Risk 
C) Fallibility 
D) Redundancy 
A) Depreciation 
B) Risk 
C) Fallibility 
D) Redundancy

Question 15

In today's competitive environment,good value means:

Accepted Answer

A) making products with zero defects. 
B) superior quality that translates into durable products 
C) offering the latest trends without seeming like you are over the top. 
D) providing quality products and services at competitive prices. 
A) making products with zero defects. 
B) superior quality that translates into durable products 
C) offering the latest trends without seeming like you are over the top. 
D) providing quality products and services at competitive prices.

Question 16

As a factor of production,the term capital includes:

Accepted Answer

A) stocks and bonds issued by corporations. 
B) natural resources such as land and water. 
C) tools,machinery,and buildings. 
D) services provided by the government that enable businesses to be more productive. 
A) stocks and bonds issued by corporations. 
B) natural resources such as land and water. 
C) tools,machinery,and buildings. 
D) services provided by the government that enable businesses to be more productive.

Question 17

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

Accepted Answer

A) True 
 B)False

Question 18

Starting a business is a riskier path toward business success than working your way up the ranks of a large business.

Accepted Answer

A) True 
 B)False

Question 19

Jill is looking into the possibility of opening up a day care center in her community,because she is aware of many single-parent families that need a place for their children to stay while the parents work.She is concerned about the long-term prospects for such a business.Jill believes the future of her center will depend on whether birth rates and the number of single-parent families remain high.These concerns illustrate how businesses can be affected by:

Accepted Answer

A) econometric trends. 
B) demographic trends. 
C) holographic trends. 
D) psychometric trends. 
A) econometric trends. 
B) demographic trends. 
C) holographic trends. 
D) psychometric trends.

Question 20

China and India have become major U.S.competitors.

Accepted Answer

A) True 
 B)False

Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

For-profit businesses and nonprofit organizations are similar in that they both:

In some cities the number of legal and illegal immigrants has caused governments to adapt by changing signs to other languages.

Taxes and government regulations are part of the ________________ environment of business.

Over many years the nature of U.S.business has changed very little from century to century.

The B2B Internet market consists of selling goods and services to consumers.

Trace the evolution of American business.Identify the key trends,and discuss the implications these trends have for the future.

Marla Staples is concerned with identity theft.One of the ways that she can protect her information from leaking-out to the wrong hands is:

Effectiveness means producing goods and services using the least amount of resources.

Almost all of the growth in employment opportunities since the mid-1980s has been generated by the service sector.

Since businesses strive to earn a profit,their owners benefit at the expense of the rest of society.

Technology affects people in:

Technology refers to everything that makes business operations more effective,efficient,and productive.

__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable.

In today's competitive environment,good value means:

As a factor of production,the term capital includes:

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

Starting a business is a riskier path toward business success than working your way up the ranks of a large business.

China and India have become major U.S.competitors.

Understanding Economics and How It Affects Business

Doing Business in Global Markets

Demanding Ethical and Socially Responsible Behavior

How to Form a Business

Entrepreneurship and Starting a Small Business

Management and Leadership

Structuring Organizations for Todays Challenges

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Union and Employeemanagement Issues

Marketing: Helping Buyers Buy

Developing and Pricing Goods and Services

Distributing Products

Using Effective Promotions

Understanding Accounting and Financial Information

Financial Management

Using Securities Markets for Financing and Investing Opportunities

Money,financial Institutions,and the Federal Reserve

test Planning Table for Bonus Chapter A

Using Technology to Manage Information

Managing Risk

Managing Personal Finances

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