Question 1

Taxes and government regulations are part of the ________________ environment of business.

Accepted Answer

A)  economic and legal 
B)  competitive 
C)  social 
D)  technological 
A)  economic and legal 
B)  competitive 
C)  social 
D)  technological

Question 2

In rich countries such as the United States,changes in the level of taxation have little impact on the incentives of entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 3

Countries with an inadequately trained work force and few entrepreneurs often achieve the highest levels of income by relying on a large number of workers.

Accepted Answer

A) True 
 B)False

Question 4

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.

Accepted Answer

A) True 
 B)False

Question 5

___________ means producing the desired result.

Accepted Answer

A)  Effectiveness 
B)  Technology 
C)  E-production 
D)  Productivity 
A)  Effectiveness 
B)  Technology 
C)  E-production 
D)  Productivity

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

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 8

The threat of terrorism increases the costs of operating most businesses.

Accepted Answer

A) True 
 B)False

Question 9

Describe what we mean by greening and thinking green.List several ways that people and businesses are participating in the green movement.List business opportunities that may emerge from this movement.

Accepted Answer

Greening refers to a movement to save en

Question 10

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

Accepted Answer

A)  geometric 
B)  econometric 
C)  demographic 
D)  anthropologic 
A)  geometric 
B)  econometric 
C)  demographic 
D)  anthropologic

Question 11

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following statements about the competitive environment is most accurate?

Accepted Answer

A)  Firms that produce a quality product will almost always succeed in the competitive marketplace. 
B)  Traditional firms will be unable to successfully compete against the new Internet firms unless they immediately create a way to reach customers through this technology. 
C)  Firms that empower their employees will continue to perform poorly in the competitive environment. 
D)  Companies now have to offer both high-quality products and outstanding service at competitive prices. 
A)  Firms that produce a quality product will almost always succeed in the competitive marketplace. 
B)  Traditional firms will be unable to successfully compete against the new Internet firms unless they immediately create a way to reach customers through this technology. 
C)  Firms that empower their employees will continue to perform poorly in the competitive environment. 
D)  Companies now have to offer both high-quality products and outstanding service at competitive prices.

Question 13

Due to population shifts,

Accepted Answer

A)  businesses that cater to older consumers will see exceptional growth. 
B)  businesses that cater to older consumers will see slower growth. 
C)  businesses that sell electronic devices will see a significant decline. 
D)  healthcare will emerge as the only business sector that will grow. 
A)  businesses that cater to older consumers will see exceptional growth. 
B)  businesses that cater to older consumers will see slower growth. 
C)  businesses that sell electronic devices will see a significant decline. 
D)  healthcare will emerge as the only business sector that will grow.

Question 14

In an effort to increase wealth and their country's standard of living,many governments are taking over major industries and operating them as nonprofit organizations.

Accepted Answer

A) True 
 B)False

Question 15

Charles Malone recently renewed his card membership at DiscountMania.The card has an annual $40 fee,but Charles believes that it pays for itself because he receives good prices on electronics,contact lenses,and even tires for his car.Shortly after renewing the card,Charles began receiving calls from collection agencies claiming that he owed money.With the help of others,he learned that another Charles Malone also owned a DiscountMania card,and wrote checks with insufficient bank funds when making purchases.DiscountMania had linked Charles' personal information with the other Charles Malone's personal information.Charles experienced ______________.

Accepted Answer

A)  Buyer myopia 
B)  Database fraud 
C)  Information trafficking 
D)  Identity theft 
A)  Buyer myopia 
B)  Database fraud 
C)  Information trafficking 
D)  Identity theft

Question 16

Companies that sell goods to consumers over the Internet are engaging in:

Accepted Answer

A)  B2C transactions. 
B)  IOU transactions. 
C)  B2B transactions. 
D)  Y2K transactions. 
A)  B2C transactions. 
B)  IOU transactions. 
C)  B2B transactions. 
D)  Y2K transactions.

Question 17

Outsourcing has caused many complications in many states where jobs have been lost to overseas companies.

Accepted Answer

A) True 
 B)False

Question 18

Eve and her three college friends enjoy perfumes.As a special gift to each of them last holiday season,Eve found a way to make scented candles with each friend's favorite perfume scent.The three friends loved her gift idea and encouraged Eve to create more and sell them on the Internet.Recently,she is filling orders from her website,and turning a profit.Eve is proof that:

Accepted Answer

A)  me too businesses work. 
B)  when you successfully fill a market need,you can make money. 
C)  the Internet is a way to distribute just about anything. 
D)  the cost of supplies to make candles is relatively cheap. 
A)  me too businesses work. 
B)  when you successfully fill a market need,you can make money. 
C)  the Internet is a way to distribute just about anything. 
D)  the cost of supplies to make candles is relatively cheap.

Question 19

Businesses seek to earn a profit by providing goods and services to others.

Accepted Answer

A) True 
 B)False

Question 20

Efficiency means:

Accepted Answer

A)  producing the desired result. 
B)  producing goods and services using the least amount of resources. 
C)  the amount of output you generate given the amount of input. 
D)  the buying and selling of goods using the most amount of resources. 
A)  producing the desired result. 
B)  producing goods and services using the least amount of resources. 
C)  the amount of output you generate given the amount of input. 
D)  the buying and selling of goods using the most amount of resources.

Taxes and government regulations are part of the ________________ environment of business.

In rich countries such as the United States,changes in the level of taxation have little impact on the incentives of entrepreneurs.

Countries with an inadequately trained work force and few entrepreneurs often achieve the highest levels of income by relying on a large number of workers.

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.

___________ means producing the desired result.

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

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

The threat of terrorism increases the costs of operating most businesses.

Describe what we mean by greening and thinking green.List several ways that people and businesses are participating in the green movement.List business opportunities that may emerge from this movement.

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

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

Which of the following statements about the competitive environment is most accurate?

Due to population shifts,

In an effort to increase wealth and their country's standard of living,many governments are taking over major industries and operating them as nonprofit organizations.

Companies that sell goods to consumers over the Internet are engaging in:

Outsourcing has caused many complications in many states where jobs have been lost to overseas companies.

Businesses seek to earn a profit by providing goods and services to others.

Efficiency means:

Understanding How Economics 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

Adapting Organizations to Todays Markets

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employee-Management Issues and Relationships

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

Appendix A: Using Technology to Manage Information

Appendix B: Managing Risk

Filters

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

Taxes and government regulations are part of the ________________ environment of business.

In rich countries such as the United States,changes in the level of taxation have little impact on the incentives of entrepreneurs.

Countries with an inadequately trained work force and few entrepreneurs often achieve the highest levels of income by relying on a large number of workers.

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.

___________ means producing the desired result.

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

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

The threat of terrorism increases the costs of operating most businesses.

Describe what we mean by greening and thinking green.List several ways that people and businesses are participating in the green movement.List business opportunities that may emerge from this movement.

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

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

Which of the following statements about the competitive environment is most accurate?

Due to population shifts,

In an effort to increase wealth and their country's standard of living,many governments are taking over major industries and operating them as nonprofit organizations.

Companies that sell goods to consumers over the Internet are engaging in:

Outsourcing has caused many complications in many states where jobs have been lost to overseas companies.

Businesses seek to earn a profit by providing goods and services to others.

Efficiency means:

Understanding How Economics 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

Adapting Organizations to Todays Markets

Production and Operations Management

Motivating Employees

Human Resource Management: Finding and Keeping the Best Employees

Dealing With Employee-Management Issues and Relationships

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

Appendix A: Using Technology to Manage Information

Appendix B: Managing Risk

Filters