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

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

________ means producing the desired result.

Nonprofit organizations use financial gains to meet stated social or educational goals of the organization rather than personal profit.

The evidence for climate change is highly suspect. Well-known U.S. companies are taking a wait-and-see approach toward addressing climate change.

Although employment in the service sector has increased rapidly in recent years, the vast majority of workers are still employed in the goods-producing sector.

Businesses satisfy the demands of all stakeholders by balancing the demands of customers and stockholders.

Effectiveness means producing the desired result.

________ is illegally obtaining and illegally using private information about a person, such as using someone's credit card number.

________ is the amount a business earns after deducting what it spends for salaries and other expenses.

The standard of living for a nation's people depends mainly on:

Often in business the greater the risk, the ________.

Since the 1800s, the U.S. has evolved

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

Describe three ways that governments can foster entrepreneurship and encourage the creation of wealth.

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

Pets on the Run, Inc., a mobile pet care company, is planning for the future. As a business student who has studied social trends, which of the following statements reflects the need for Pets on the Run's service in the future?

To implement a policy of empowerment, the organization will restructure so that:

It was recently reported that Japan succeeded in improving its people's standard of living and establishing a relatively affluent society. This report clearly indicates that both income levels and the price of goods and services rose significantly during that time period.

The growth in the service sector in the United States appears to be giving way to an information-based global era.

Businesses that cater to older consumers in the future will likely not be successful.