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

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

St. Claire Hospital is considering a program that would allow some of its workers to use flextime. One group of workers who would probably benefit from flextime is:

Often the needs of a firm's various stakeholders will conflict.

An activity which seeks to earn a profit by providing a good or service is known as a(n):

Lamar is a salesperson for Bi-State Direct. He really appreciates the amount of freedom and authority Bi-State gives its sales people in order to better meet the needs of customers. Lamar's experience suggests that Bi-State practices:

Though it has received a lot of attention, the development of the Internet has had less of an impact on the way businesses operate than many other technological changes.

Profits of a business include the salaries paid to its employees.

The primary focus of successful firms is designing and producing high quality goods. Advertising is then used to convince consumers to buy their superior products.

Well-managed businesses will grow and prosper regardless of the business environment in which they operate.

The number of businesses owned by Asians, Hispanics, and American Indians has grown dramatically.

Businesses collect information on where people live, what they buy, and how they spend their time.

The war on terrorism will:

"Insourcing" refers to the practice of global companies setting up design and production facilities in the United States.

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

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

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

Laura and Tim McNash recently moved to North Carolina on a three-acre home site. They purposefully purchased their home within biking distance to the university where they are both employed, and their bikes each have room for two cloth bags for groceries if they need to purchase food on the way home, although they plan to grow much of their own. Laura and Tim are examples of a growing number of young people who:

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

High tax rates tend to:

The only way a firm can increase its profits is to increase its sales revenue.