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

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.

A charitable organization, such as the Red Cross or Salvation Army, is classified as a for-profit organization.

A business incurs a if its costs and expenses exceed its revenues.

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

Which of the following is a benefit of owning your own business?

The statistical study of the human population to describe its size, age, gender, and income is known as diversity recognition.

Brett runs a lawn care service. Although he and his employees could service eight households in one day, he averages six yards per crewmember, per day. Brett recently restructured his work crew and provided each cutter with an incentive to acquire two new customers each month through customer referrals. As a recent business graduate, you tell him he's probably on the right track.

Allowing today's young people to invest part of their Social Security money in personal savings accounts makes sense since in the future less money will be coming into Social Security than will be going out.

Businesses are supporting single-parent families with:

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

Airline companies around the world are experiencing increased costs in part due to .

The business environment refers to the surrounding factors that either help or hinder the development of businesses.

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

One of the major advantages to firms involved in e-commerce is that the technology is still so new that the Internet-based firms face very little competition.

Shelby recently started selling her invention: A bed that looks like it floats in mid- air. The bed is actually suspended by magnetic forces. Shelby is a(n):

Which of the following business policies would most likely help a single-parent family?

Entrepreneurs weigh the differences between the benefits of starting a business and those things that they are likely to forego because they choose to work for themselves. Such things they are likely to pass-up on are:

In countries where businesses are government owned:

Political freedom, quality education, access to health care, and a clean environment are all factors that contribute to an improved quality of life.

The government of the nation of Bingland is trying to achieve a high quality of life by imposing strict regulations to protect the environment and ensure safe working conditions in factories and mines. The government also has established ambitious programs to help the poor, financing them by setting high tax rates. These efforts by Bingland's government should create an atmosphere that encourages entrepreneurship.