Exam 1: Business Now: Change Is the Only Constant

When a business brings in less money than it needs to cover expenses, it incurs a _____.

Roggenok, a textile company, owns 15 factories that produce clothing materials. The company has 1500 employees working in shifts. In this scenario, the factories owned by Roggenok can be classified as _____.

Which of the following statements is true of nonprofit organizations?

In the context of the business environment, the creation of the World Wide Web is considered a component of the _____.

Meria Het, a footwear company, designs formal and casual footwear for White American women. However, to increase its customer base, it introduces a line of footwear for Chinese women in the United States, even though they form only a small market in the country. Which of the following dimensions of the social environment does this scenario exemplify?

In the context of the global environment of business, which of the following was the outcome of Hurricane Katrina in 2005?

Leading-edge companies have focused on customer satisfaction, with a goal to develop long-term, mutually beneficial relationships with customers. Which of the following dimensions of a business environment does this illustrate?

In the context of the technological environment of business, which of the following statements is true of e-commerce?

In the context of customer satisfaction, a product has value when:

Which of the following can be considered a business?

Children's Campground is a summer program for school children. It advertises that there is one counselor for every four children and that several other highly-trained professionals are part of its staff. Children's Campground advertisements indicate that the program relies heavily on its _____ factor to provide its services.

In the _____, leading-edge firms look beyond each immediate transaction with a customer and aim to build long-term ties.

Zip Zap Inc., a delivery service agency, employs a strict code of conduct that is aimed at minimizing unethical practices within the company. The policy describes the actions that would be taken against anyone who violates the company rules. This ensures that the business faces minimal risk. In this context, which dimension of the business environment is affected the most?

High taxation, excess regulation, and limited choices in a business environment are likely to result in a(n):

The central banking system of the United States is the Federal Reserve.

Preston, a luthier, used to own a workshop in the 1750s where he produced handmade musical instruments of high quality. However, due to technological advances, musical instruments started being mass-produced in factories, and Preston's business began to decline. Given this information, it can be assumed that Preston belonged to the _____.

In the context of factors of production, which of the following statements is true of entrepreneurs?

In the context of the history of American business, which of the following statements is true of the marketing era?

In the context of the competitive environment of business, customer satisfaction comes in large part from:

In the context of the various dimensions of a business environment, briefly describe the technological environment.