Question 1

The need to develop environmentally friendly products and processes is becoming a major new force in business today.

Accepted Answer

A) True 
 B)False

Question 2

The Nike swoosh is not considered a brand;only the company name can be a brand.

Accepted Answer

A) True 
 B)False

Question 3

A company that contracts with another business to perform functions previously handled by internal staff is participating in _____.

Accepted Answer

A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) strategic alliance
F)capital
G)vision
H)factors of production
I)brand
J)relationship management
K)not-for-profit organizations
L)business ethics 
A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) strategic alliance
F)capital
G)vision
H)factors of production
I)brand
J)relationship management
K)not-for-profit organizations
L)business ethics

Question 4

List and describe the four basic rights in the private enterprise system.

Accepted Answer

The right to private property guarantees

Question 5

Concentrating on building and promoting products in hopes that enough customers will buy them in order to cover costs and earn acceptable profits is called ________.

Accepted Answer

A)  relationship management 
B)  transaction management 
C)  a strategic alliance 
D)  marketing management 
A)  relationship management 
B)  transaction management 
C)  a strategic alliance 
D)  marketing management

Question 6

All factors of production are found in equal amounts in all businesses.

Accepted Answer

A) True 
 B)False

Question 7

A key element of the production era was the use of consumer research.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is considered to be the most fundamental right of the private enterprise system?

Accepted Answer

A)  the right to private property 
B)  the right to guaranteed profits 
C)  freedom of choice 
D)  the right to fair competition 
A)  the right to private property 
B)  the right to guaranteed profits 
C)  freedom of choice 
D)  the right to fair competition

Question 9

All of the following statements are correct EXCEPT:

Accepted Answer

A)  Successful businesses seek to meet their social and ethical responsibilities. 
B)  Business is the economic pulse of a nation. 
C)  Business includes nonprofit organizations that provide services to the public. 
D)  Business provides goods and services necessary to an economic system. 
A)  Successful businesses seek to meet their social and ethical responsibilities. 
B)  Business is the economic pulse of a nation. 
C)  Business includes nonprofit organizations that provide services to the public. 
D)  Business provides goods and services necessary to an economic system.

Question 10

The needs of older workers are similar to those of younger workers.

Accepted Answer

A) True 
 B)False

Question 11

Decreased consumer loyalty is an example of an external force that requires change.

Accepted Answer

A) True 
 B)False

Question 12

One factor that led to the Industrial Revolution was the mechanization of agriculture.

Accepted Answer

A) True 
 B)False

Question 13

A partnership formed to create a competitive advantage for the businesses involved is known as a(n)_____.

Accepted Answer

A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) strategic alliance
F)capital
G)vision
H)factors of production
I)brand
J)relationship management
K)not-for-profit organizations
L)business ethics 
A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) strategic alliance
F)capital
G)vision
H)factors of production
I)brand
J)relationship management
K)not-for-profit organizations
L)business ethics

Question 14

Which of the following are organized for profit and provide goods and services?

Accepted Answer

A)  public schools 
B)  churches 
C)  government 
D)  businesses 
A)  public schools 
B)  churches 
C)  government 
D)  businesses

Question 15

_____ involves blending different genders,ethnic backgrounds,cultures,religions,ages,and physical and mental abilities in order to enhance a firm's chances of success.

Accepted Answer

A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) strategic alliance
F)capital
G)vision
H)factors of production
I)brand
J)relationship management
K)not-for-profit organizations
L)business ethics 
A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) strategic alliance
F)capital
G)vision
H)factors of production
I)brand
J)relationship management
K)not-for-profit organizations
L)business ethics

Question 16

The Industrial Revolution began in the United States with the development of the automobile.

Accepted Answer

A) True 
 B)False

Question 17

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

Accepted Answer

A)  critical thinking 
B)  social responsibility 
C)  vision 
D)  creativity 
A)  critical thinking 
B)  social responsibility 
C)  vision 
D)  creativity

Question 18

The managerial quality of vision is the ability to see all of the problems that might occur.

Accepted Answer

A) True 
 B)False

Question 19

Blogs and social networking use __________ to manage relationships.

Accepted Answer

A)  technology 
B)  marketing research 
C)  strategic alliances 
D)  business etiquette 
A)  technology 
B)  marketing research 
C)  strategic alliances 
D)  business etiquette

Question 20

When a Canadian company contracts work to Mexico,it is ________.

Accepted Answer

A)  offshoring 
B)  nearsourcing 
C)  nearshoring 
D)  exporting 
A)  offshoring 
B)  nearsourcing 
C)  nearshoring 
D)  exporting

The need to develop environmentally friendly products and processes is becoming a major new force in business today.

The Nike swoosh is not considered a brand;only the company name can be a brand.

A company that contracts with another business to perform functions previously handled by internal staff is participating in _____.

List and describe the four basic rights in the private enterprise system.

Concentrating on building and promoting products in hopes that enough customers will buy them in order to cover costs and earn acceptable profits is called ________.

All factors of production are found in equal amounts in all businesses.

A key element of the production era was the use of consumer research.

Which of the following is considered to be the most fundamental right of the private enterprise system?

All of the following statements are correct EXCEPT:

The needs of older workers are similar to those of younger workers.

Decreased consumer loyalty is an example of an external force that requires change.

One factor that led to the Industrial Revolution was the mechanization of agriculture.

A partnership formed to create a competitive advantage for the businesses involved is known as a(n)_____.

Which of the following are organized for profit and provide goods and services?

_____ involves blending different genders,ethnic backgrounds,cultures,religions,ages,and physical and mental abilities in order to enhance a firm's chances of success.

The Industrial Revolution began in the United States with the development of the automobile.

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

The managerial quality of vision is the ability to see all of the problems that might occur.

Blogs and social networking use __________ to manage relationships.

When a Canadian company contracts work to Mexico,it is ________.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: The Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labour Relations

Top Performance through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 1: The Changing Face of Business

The need to develop environmentally friendly products and processes is becoming a major new force in business today.

The Nike swoosh is not considered a brand;only the company name can be a brand.

A company that contracts with another business to perform functions previously handled by internal staff is participating in _____.

List and describe the four basic rights in the private enterprise system.

Concentrating on building and promoting products in hopes that enough customers will buy them in order to cover costs and earn acceptable profits is called ________.

All factors of production are found in equal amounts in all businesses.

A key element of the production era was the use of consumer research.

Which of the following is considered to be the most fundamental right of the private enterprise system?

All of the following statements are correct EXCEPT:

The needs of older workers are similar to those of younger workers.

Decreased consumer loyalty is an example of an external force that requires change.

One factor that led to the Industrial Revolution was the mechanization of agriculture.

A partnership formed to create a competitive advantage for the businesses involved is known as a(n)_____.

Which of the following are organized for profit and provide goods and services?

_____ involves blending different genders,ethnic backgrounds,cultures,religions,ages,and physical and mental abilities in order to enhance a firm's chances of success.

The Industrial Revolution began in the United States with the development of the automobile.

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

The managerial quality of vision is the ability to see all of the problems that might occur.

Blogs and social networking use __________ to manage relationships.

When a Canadian company contracts work to Mexico,it is ________.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: The Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labour Relations

Top Performance through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters