Exam 1: Business Now: Change Is the Only Constant

The United States features a number of different _____ due to its diversity.

Business drives up the standard of living for people worldwide, contributing to a higher quality of life.

During the entrepreneurship era, the government began regulating business to protect the consumer.

Businesses raise the standard of living through the payment of taxes, which can be used by the government to pay for socially desirable projects.

In the U.S., nonprofit organizations employ approximately one in _____ workers nationwide.

The huge gains in production efficiency during the Industrial Revolution were mainly the result of changes in the nature of the production process that encouraged workers to take more pride and ownership in their work.

Nonprofit organizations do not play a critical role in economic development.

The four factors of production come free of charge.

Explain how the General Agreement on Tariffs and Trade (GATT) encourages global trade.

Which of the following is considered a business?

Which of the following statements is most consistent with the marketing concept?

Government agencies such as the Small Business Administration and the Federal Trade Commission help reduce the risk of starting and running a business. The result of these efforts is:

Ath apnro tdhue cpt rhicaes tvhaaltu teh we hc eunst oitms be er npeafyitss. to the customer are equal to or greater

Which of the following statements represents how consumers and workers react to socially responsible behavior by a business organization?

The only advantage of technology in business is that it increases the business's effectiveness.

Timber, water, coal deposits, and solar energy are classified as:

Huge factories replaced skilled artisan workshops during the _____.

Career counselors encourage students to choose a career with an eye primarily toward monetary benefits.

List and describe the five key dimensions of the broader business environment.

Susan is the human resources director at ABC Cosmetics. In her job, she is responsible for recruiting, hiring, and training employees. She is a factor of production for the company.