Question 1

The statistical study of human population to learn its size, density, and characteristics is called:

Accepted Answer

A) psychographics. 
B)  econometrics. 
C)  demography. 
D)  geometry. 
A) psychographics. 
B)  econometrics. 
C)  demography. 
D)  geometry.

Question 2

The most important difference between for-profit businesses and nonprofit organizations is that:

Accepted Answer

A) businesses do not benefit society. 
B)  nonprofit organizations seek to make a profit for its owners and organizers. 
C) nonprofit organizations do not seek a profit for its owners or organizers. 
D) nonprofit organizations do not file tax returns. 
A) businesses do not benefit society. 
B)  nonprofit organizations seek to make a profit for its owners and organizers. 
C) nonprofit organizations do not seek a profit for its owners or organizers. 
D) nonprofit organizations do not file tax returns.

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

An electronic storage file where information is kept is called a CPU.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

Health care, insurance, recreation and other intangible products are provided by the:

Accepted Answer

A) global sector. 
B) service industry. 
C)  industrial sector. 
D) manufacturing industry. 
A) global sector. 
B) service industry. 
C)  industrial sector. 
D) manufacturing industry.

Question 7

Bruno and Gino are worthy competitors in the bakery business in a small upscale resort town. Gino recently negotiated a contract with a supplier for really cheap cooking oil. He knows that bakery customers want cheap products. In this competitive environment, keeping the price down is all that matters.

Accepted Answer

A) True 
 B)False

Question 8

Successful firms follow a customer-driven strategy, as opposed to the management-driven strategy used in the past.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following organizations is an example of the goods-producing sector of the economy?

Accepted Answer

A) Ford Motor Company 
B)  Florida State University 
C)  Children's Hospital 
D) H & R Block Tax Consulting 
A) Ford Motor Company 
B)  Florida State University 
C)  Children's Hospital 
D) H & R Block Tax Consulting

Question 10

The main difference between B2C and B2B e-commerce is that B2C uses only the Internet, while B2B combines e-commerce with traditional (bricks-and-mortar) outlets.

Accepted Answer

A) True 
 B)False

Question 11

An entrepreneur risks time and money to start and manage a business.

Accepted Answer

A) True 
 B)False

Question 12

Producing a high quality product will ensure success in the competitive environment.

Accepted Answer

A) True 
 B)False

Question 13

In order to compete well and gain market share, contemporary businesses are changing to be more .

Accepted Answer

A) customer-driven 
B)  cash-driven 
C)  management-driven 
D) production-driven 
A) customer-driven 
B)  cash-driven 
C)  management-driven 
D) production-driven

Question 14

People living in San Jose, CA on average earn more money than people living in St. Louis, MO. The citizens of San Jose enjoy a higher standard of living than the citizens of St. Louis.

Accepted Answer

A) True 
 B)False

Question 15

According to the "Spotlight on Small Business" box for Chapter 1, Lisa Knoppe Reed started a unique business called "Art for a Cause". Which of the following statements accurately conveys the climate surrounding women-owned businesses?

Accepted Answer

A) Although it would make an ideal world, it remains difficult to make a living when you combine social causes and business ventures. 
B)  There are still tremendous stigmas about women owning businesses. The few women who attempt to run their own business each year is indicative of these cultural problems. 
C)  It is difficult enough for women to be entrepreneurs. When women combine social causes with their business skills, the business failure rate intensifies. 
D) The number of women owned businesses has increased significantly. As a social entrepreneur, Lisa's business model proves that one can be successful and also improve the lives of others. 
A) Although it would make an ideal world, it remains difficult to make a living when you combine social causes and business ventures. 
B)  There are still tremendous stigmas about women owning businesses. The few women who attempt to run their own business each year is indicative of these cultural problems. 
C)  It is difficult enough for women to be entrepreneurs. When women combine social causes with their business skills, the business failure rate intensifies. 
D) The number of women owned businesses has increased significantly. As a social entrepreneur, Lisa's business model proves that one can be successful and also improve the lives of others.

Question 16

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 17

To remain competitive in today's market, firms must produce a quality product and offer outstanding service at a reasonable price.

Accepted Answer

A) True 
 B)False

Question 18

Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this information, Adventure reported:

Accepted Answer

A) profits of $14 million. 
B)  profits of $34 million. 
C)  losses of $14 million. 
D) losses off $34 million. 
A) profits of $14 million. 
B)  profits of $34 million. 
C)  losses of $14 million. 
D) losses off $34 million.

Question 19

The series of lines on a product packaging that the cashier scans when you check out at a grocery store or discount store is called a:

Accepted Answer

A) bar code. 
B)  zip code. 
C) scan code. 
D) laser code. 
A) bar code. 
B)  zip code. 
C) scan code. 
D) laser code.

Question 20

The major difference between businesses and nonprofit organizations is that only businesses can increase the standard of living, while only nonprofit organizations can improve the quality of life.

Accepted Answer

A) True 
 B)False

The statistical study of human population to learn its size, density, and characteristics is called:

The most important difference between for-profit businesses and nonprofit organizations is that:

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

An electronic storage file where information is kept is called a CPU.

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

Health care, insurance, recreation and other intangible products are provided by the:

Successful firms follow a customer-driven strategy, as opposed to the management-driven strategy used in the past.

Which of the following organizations is an example of the goods-producing sector of the economy?

The main difference between B2C and B2B e-commerce is that B2C uses only the Internet, while B2B combines e-commerce with traditional (bricks-and-mortar) outlets.

An entrepreneur risks time and money to start and manage a business.

Producing a high quality product will ensure success in the competitive environment.

In order to compete well and gain market share, contemporary businesses are changing to be more .

People living in San Jose, CA on average earn more money than people living in St. Louis, MO. The citizens of San Jose enjoy a higher standard of living than the citizens of St. Louis.

According to the "Spotlight on Small Business" box for Chapter 1, Lisa Knoppe Reed started a unique business called "Art for a Cause". Which of the following statements accurately conveys the climate surrounding women-owned businesses?

Businesses favor:

To remain competitive in today's market, firms must produce a quality product and offer outstanding service at a reasonable price.

Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this information, Adventure reported:

The series of lines on a product packaging that the cashier scans when you check out at a grocery store or discount store is called a:

The major difference between businesses and nonprofit organizations is that only businesses can increase the standard of living, while only nonprofit organizations can improve the quality of life.

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

Filters

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

The statistical study of human population to learn its size, density, and characteristics is called:

The most important difference between for-profit businesses and nonprofit organizations is that:

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

An electronic storage file where information is kept is called a CPU.

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

Health care, insurance, recreation and other intangible products are provided by the:

Successful firms follow a customer-driven strategy, as opposed to the management-driven strategy used in the past.

Which of the following organizations is an example of the goods-producing sector of the economy?

The main difference between B2C and B2B e-commerce is that B2C uses only the Internet, while B2B combines e-commerce with traditional (bricks-and-mortar) outlets.

An entrepreneur risks time and money to start and manage a business.

Producing a high quality product will ensure success in the competitive environment.

In order to compete well and gain market share, contemporary businesses are changing to be more .

People living in San Jose, CA on average earn more money than people living in St. Louis, MO. The citizens of San Jose enjoy a higher standard of living than the citizens of St. Louis.

According to the "Spotlight on Small Business" box for Chapter 1, Lisa Knoppe Reed started a unique business called "Art for a Cause". Which of the following statements accurately conveys the climate surrounding women-owned businesses?

Businesses favor:

To remain competitive in today's market, firms must produce a quality product and offer outstanding service at a reasonable price.

Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this information, Adventure reported:

The series of lines on a product packaging that the cashier scans when you check out at a grocery store or discount store is called a:

The major difference between businesses and nonprofit organizations is that only businesses can increase the standard of living, while only nonprofit organizations can improve the quality of life.

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

Filters