Exam 1: Business Now: Change Is the Only Constant

The World Wide Web allows computer users to easily access and share information on the Internet via text, graphics, video, apps, and animation.

The production era is also referred to as the era of mass production.

Which of the following is the best example of a natural resource?

Leading­edge businesses maintain a competitive advantage by introducing products:

During the _____, jobs became highly specialized and the cost of goods became lower.

Which of the following is the most important factor of production in order for an economy to thrive?

Business transactions that occur online are examples of:

When making a career choice, experts often advise graduating students:

Which of the following is a key feature of an organization that adopts the marketing concept?

In choosing a career, you must consider the key dimensions of the business environment and your place within it. That would mean you should:

The four factors of production are natural resources, capital, money, and ownership.

Satellite systems that are built to enhance wireless communications represent an effective use of business technology.

In the context of factors of production, the term capital means the money businesses use to finance their operations.

Compare and contrast for­profit organizations and nonprofit organizations.

The creation of the World Wide Web has resulted in the rise of _____ or online sales, which allow businesses to tap into a worldwide community of potential customers.

Investing in worker satisfaction will not affect profitability of a business.

Technological advancements have allowed businesses to replace manual labor employees with technology requiring human resources to focus on:

Following your passion in making a career choice is foolish and not supported by the broader business environment.

A typical nonprofit organization's primary goal is to improve the quality of life in society.

The marketing era came immediately before the entrepreneurship era.