Question 1

Improved distribution systems have led to more global trade.

Accepted Answer

A) True 
 B)False

Question 2

Currently people between the ages of 45 and 54 are the richest group in the United States.

Accepted Answer

A) True 
 B)False

Question 3

Mark recently graduated with honors from his college.He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future.In evaluating the future of the workplace,Mark is:

Accepted Answer

A) exactly right.His past performance should carry him to success. 
B) completely wrong.Studies show that a college education has little to do with success. 
C) over confident.Global competition means that continuous learning will be needed in the future to adapt to rapid changes. 
D) probably right.Specialized training today is a key to continued success in the future. 
A) exactly right.His past performance should carry him to success. 
B) completely wrong.Studies show that a college education has little to do with success. 
C) over confident.Global competition means that continuous learning will be needed in the future to adapt to rapid changes. 
D) probably right.Specialized training today is a key to continued success in the future.

Question 4

It's important that firms are as efficient as possible.This is done by becoming management-driven for efficiency.

Accepted Answer

A) True 
 B)False

Question 5

The new era of business is likely to be dominated by the:

Accepted Answer

A) service sector. 
B) information-based sector. 
C) manufacturing sector. 
D) continued decline in productivity. 
A) service sector. 
B) information-based sector. 
C) manufacturing sector. 
D) continued decline in productivity.

Question 6

Businesses favor:

Accepted Answer

A) minimal government spending because it keeps taxes to a minimum. 
B) more government services because it minimizes tax consequences. 
C) maximum government spending because it raises business profits. 
D) less government spending because it lowers business profits. 
A) minimal government spending because it keeps taxes to a minimum. 
B) more government services because it minimizes tax consequences. 
C) maximum government spending because it raises business profits. 
D) less government spending because it lowers business profits.

Question 7

There is evidence that the recession is coming to an end for Intelligent Engine Company.New orders are coming in at a steady pace,and management is confident that new contracts will take them through the next couple of years.The company has started investing again,but not in people.Employees total the same as when the company and its competitors faced their lowest revenues of the decade.Due to __________________ ,the company is producing more product and services with less people.

Accepted Answer

A) the lack of skilled labor 
B) new competition 
C) social changes 
D) technological advancement 
A) the lack of skilled labor 
B) new competition 
C) social changes 
D) technological advancement

Question 8

Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions:

Accepted Answer

A) involve transactions where the buyers and sellers are both businesses,while B2C involves transactions between businesses and consumers. 
B) focus on financial transactions while B2C e-commerce focuses on the sale of manufactured goods. 
C) refer to business between nonprofit organizations while B2C e-commerce is carried out by business firms seeking to earn a profit. 
D) involve sales in foreign markets while B2C e-commerce is restricted to domestic markets. 
A) involve transactions where the buyers and sellers are both businesses,while B2C involves transactions between businesses and consumers. 
B) focus on financial transactions while B2C e-commerce focuses on the sale of manufactured goods. 
C) refer to business between nonprofit organizations while B2C e-commerce is carried out by business firms seeking to earn a profit. 
D) involve sales in foreign markets while B2C e-commerce is restricted to domestic markets.

Question 9

Effectiveness means producing the desired result.

Accepted Answer

A) True 
 B)False

Question 10

Since all businesses make a profit,starting a business is not risky.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements describes a recurring theme about today's ecological environment?

Accepted Answer

A) Most people agree that there is strong evidence that the temperature of the planet is going down. 
B) Smart businesses know that green business is currently a trend and they should proceed with caution because most green initiatives are more costly than wars and terrorism. 
C) There is a strong push by customers that businesses develop products and services that clearly save energy. 
D) Clearly,the greening issue is an American trend that has not captured the attention of the international business community. 
A) Most people agree that there is strong evidence that the temperature of the planet is going down. 
B) Smart businesses know that green business is currently a trend and they should proceed with caution because most green initiatives are more costly than wars and terrorism. 
C) There is a strong push by customers that businesses develop products and services that clearly save energy. 
D) Clearly,the greening issue is an American trend that has not captured the attention of the international business community.

Question 12

In recent years,businesses in general have experienced a lasting impact due to the emergence of _____________.

Accepted Answer

A) motor-related technologies 
B) technologies related to brain studies 
C) counterfeit technologies 
D) information technologies 
A) motor-related technologies 
B) technologies related to brain studies 
C) counterfeit technologies 
D) information technologies

Question 13

New welfare rules have made it easier for single parents to remain at home with their young children without being required to seek employment.

Accepted Answer

A) True 
 B)False

Question 14

Which of the statements about demography is most accurate? Demographic studies:

Accepted Answer

A) focus on factors that have great political relevance,but little relevance to business firms. 
B) suggest that the number of single-parent families will decline in the future. 
C) provide businesses and individuals with insights into business and career opportunities for the future. 
D) are an important source of information about changes in health patterns. 
A) focus on factors that have great political relevance,but little relevance to business firms. 
B) suggest that the number of single-parent families will decline in the future. 
C) provide businesses and individuals with insights into business and career opportunities for the future. 
D) are an important source of information about changes in health patterns.

Question 15

Which of the following is the best example of a business whose goal is to earn a profit?

Accepted Answer

A) A community college 
B) The Salvation Army 
C) Boy Scouts of America 
D) Best Buy,Inc. 
A) A community college 
B) The Salvation Army 
C) Boy Scouts of America 
D) Best Buy,Inc.

Question 16

World-class businesses attempt to meet the needs of:

Accepted Answer

A) their customers,even if it comes at the expense of employees and other stakeholders in the business. 
B) their employees,even if it means shortchanging customers by charging higher prices. 
C) all of their stakeholders. 
D) exclusively their owners,since they are ultimately the ones who pay the bills. 
A) their customers,even if it comes at the expense of employees and other stakeholders in the business. 
B) their employees,even if it means shortchanging customers by charging higher prices. 
C) all of their stakeholders. 
D) exclusively their owners,since they are ultimately the ones who pay the bills.

Question 17

In countries where businesses are government owned:

Accepted Answer

A) there is less incentive to work hard. 
B) the right amount of each good is produced. 
C) profits tend to be higher. 
D) the quality of goods is high but profits are low. 
A) there is less incentive to work hard. 
B) the right amount of each good is produced. 
C) profits tend to be higher. 
D) the quality of goods is high but profits are low.

Question 18

What is demography? Identify several demographic trends in the United States and discuss how they will impact U.S.businesses.

Accepted Answer

Demography is the statistical study of p

Question 19

When businesses sell to other businesses over the Internet,these transactions are known as:

Accepted Answer

A) B2C transactions. 
B) e-wholesale transactions. 
C) B2B transactions. 
D) intermediate e-commerce transactions. 
A) B2C transactions. 
B) e-wholesale transactions. 
C) B2B transactions. 
D) intermediate e-commerce transactions.

Question 20

With the emergence of the Internet,Jasmine finds it easy to do all her gift buying online.She takes comfort in the fact that new technologies if installed properly are seldom used in unethical ways.

Accepted Answer

A) True 
 B)False

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

Improved distribution systems have led to more global trade.

Currently people between the ages of 45 and 54 are the richest group in the United States.

Mark recently graduated with honors from his college.He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future.In evaluating the future of the workplace,Mark is:

It's important that firms are as efficient as possible.This is done by becoming management-driven for efficiency.

The new era of business is likely to be dominated by the:

Businesses favor:

Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions:

Effectiveness means producing the desired result.

Since all businesses make a profit,starting a business is not risky.

Which of the following statements describes a recurring theme about today's ecological environment?

In recent years,businesses in general have experienced a lasting impact due to the emergence of _____________.

New welfare rules have made it easier for single parents to remain at home with their young children without being required to seek employment.

Which of the statements about demography is most accurate? Demographic studies:

Which of the following is the best example of a business whose goal is to earn a profit?

World-class businesses attempt to meet the needs of:

In countries where businesses are government owned:

What is demography? Identify several demographic trends in the United States and discuss how they will impact U.S.businesses.

When businesses sell to other businesses over the Internet,these transactions are known as:

With the emergence of the Internet,Jasmine finds it easy to do all her gift buying online.She takes comfort in the fact that new technologies if installed properly are seldom used in unethical ways.

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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