Question 1

Identify a true statement about e-commerce.

Accepted Answer

A) Business-to-consumer selling companies have the larger share of profits arising from the total e-commerce sales. 
B) E-commerce has completely eliminated the individualized buying experience. 
C) Business-to-business selling companies comprise the vast majority of total e-commerce sales. 
D) E-commerce excludes the sales of goods and services through websites or online portals. 
A) Business-to-consumer selling companies have the larger share of profits arising from the total e-commerce sales. 
B) E-commerce has completely eliminated the individualized buying experience. 
C) Business-to-business selling companies comprise the vast majority of total e-commerce sales. 
D) E-commerce excludes the sales of goods and services through websites or online portals. C

Question 2

When a business brings in less money than it needs to cover expenses, it incurs a _________.

Accepted Answer

A) deferral 
B) loss 
C) depreciation 
D) tax cut 
A) deferral 
B) loss 
C) depreciation 
D) tax cut B

Question 3

A small-scale consulting firm in Hawaii is struggling financially because it is unable to generate enough capital to run the business. The company then decides to get creative and uses web technology and digital resources to build long-term bonds with its current customers and also to reach new customers. This company is using concepts that primarily originated in the:

Accepted Answer

A) entrepreneurship era. 
B) relationship era. 
C) production era. 
D) industrial era. 
A) entrepreneurship era. 
B) relationship era. 
C) production era. 
D) industrial era. B

Question 4

People can create natural resources by growing and harvesting agricultural products.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following statements is true of the marketing era?

Accepted Answer

A) In the marketing era, skilled artisan workshops were replaced by huge factories. 
B) In the marketing era, major businesses focused on refining the production process and creating greater efficiencies. 
C) In the marketing era, large-scale entrepreneurs dominated the market and raised the standard of living across the country. 
D) In the marketing era, the balance of power shifted away from producers and toward consumers. 
A) In the marketing era, skilled artisan workshops were replaced by huge factories. 
B) In the marketing era, major businesses focused on refining the production process and creating greater efficiencies. 
C) In the marketing era, large-scale entrepreneurs dominated the market and raised the standard of living across the country. 
D) In the marketing era, the balance of power shifted away from producers and toward consumers.

Question 6

Which of the following statements is a characteristic of entrepreneurs?

Accepted Answer

A) They are hardly interested in creating wealth for themselves. 
B) They create value for themselves at the expense of others. 
C) They have little or no impact on other people in the society. 
D) They produce a ripple effect that enriches everyone around them. 
A) They are hardly interested in creating wealth for themselves. 
B) They create value for themselves at the expense of others. 
C) They have little or no impact on other people in the society. 
D) They produce a ripple effect that enriches everyone around them.

Question 7

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.

Accepted Answer

A) True 
 B)False

Question 8

A college has contracted a construction company to build a new bookstore for its college. The heavy machinery and equipment used by the contractor in the construction process is an example of a(n)_____.

Accepted Answer

A) entrepreneurial resource 
B) human resource 
C) natural resource 
D) capital resource 
A) entrepreneurial resource 
B) human resource 
C) natural resource 
D) capital resource

Question 9

Fred operates two resorts in the Miami area.His company works hard to develop long-term relationships by calling customers to make sure that they are satisfied with their recent visits to the resorts and with offers to host free. In this case, Fred is most likely using concepts that were popularized during the:

Accepted Answer

A) entrepreneurship era. 
B) production era. 
C) relationship era. 
D) technology era. 
A) entrepreneurship era. 
B) production era. 
C) relationship era. 
D) technology era.

Question 10

Legislation that supports enforceable contracts usually forms part of an organization's _____ environment.

Accepted Answer

A) competitive 
B) cultural 
C) economic 
D) social 
A) competitive 
B) cultural 
C) economic 
D) social

Question 11

_________ is the rate at which a new product moves from conception to commercialization.

Accepted Answer

A) Speed-to-market 
B) Picketing 
C) Hard sell 
D) Leveraging 
A) Speed-to-market 
B) Picketing 
C) Hard sell 
D) Leveraging

Question 12

_________ is the quality and quantity of goods and services available to a population.

Accepted Answer

A) Standard of living 
B) Quality of working life 
C) Social mobility 
D) Speed-to-market 
A) Standard of living 
B) Quality of working life 
C) Social mobility 
D) Speed-to-market

Question 13

Describe the emergence of the "hard sell" in the production era and the marketing concept in the marketing era.

Accepted Answer

​In the early part of the 1900s, major b

Question 14

Which of the following is most likely to be part of the social dimension of a business environment?

Accepted Answer

A) Population income 
B) Bank lending rates 
C) Telecommunication 
D) Federal tax laws 
A) Population income 
B) Bank lending rates 
C) Telecommunication 
D) Federal tax laws

Question 15

The core goal of successful firms is to:

Accepted Answer

A) create a diverse workforce in an organization. 
B) generate long-term profits by delivering unsurpassed value to their customers. 
C) meet the rising expectations of workers. 
D) ensure free trade of goods and services within local and international markets. 
A) create a diverse workforce in an organization. 
B) generate long-term profits by delivering unsurpassed value to their customers. 
C) meet the rising expectations of workers. 
D) ensure free trade of goods and services within local and international markets.

Question 16

Samuel is struggling to run his start-up company in his locality. He is struggling because the local trade associations have established strict codes of conduct regarding certification, accreditation, and insurance obligation for businesses. In the context of economic freedom of a business environment, which of the following is adversely affecting Samuel's start-up?

Accepted Answer

A) Lack of freedom of production 
B) Lack of freedom of staffing 
C) Excessive regulation 
D) Excessive taxation 
A) Lack of freedom of production 
B) Lack of freedom of staffing 
C) Excessive regulation 
D) Excessive taxation

Question 17

Identify a true statement about the production era.

Accepted Answer

A) Major businesses focused on shifting the balance of power from producers and toward consumers. 
B) The method of "hard sell" was eliminated. 
C) The assembly line became standard across major manufacturing industries. 
D) Leading-edge firms looked beyond each immediate transaction with a customer and aimed to build a long-term relationships. 
A) Major businesses focused on shifting the balance of power from producers and toward consumers. 
B) The method of "hard sell" was eliminated. 
C) The assembly line became standard across major manufacturing industries. 
D) Leading-edge firms looked beyond each immediate transaction with a customer and aimed to build a long-term relationships.

Question 18

Which of the following dimensions of a business environment is specifically highlighted when stock markets lose a major portion of their value and when huge, venerable institutions collapse financially?

Accepted Answer

A) Social 
B) Technological 
C) Cultural 
D) Economic 
A) Social 
B) Technological 
C) Cultural 
D) Economic

Question 19

The broader economy and one's own business skills will influence the level of one's personal financial success.

Accepted Answer

A) True 
 B)False

Question 20

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.

Accepted Answer

A) True 
 B)False

Identify a true statement about e-commerce.

When a business brings in less money than it needs to cover expenses, it incurs a _________.

People can create natural resources by growing and harvesting agricultural products.

Which of the following statements is true of the marketing era?

Which of the following statements is a characteristic of entrepreneurs?

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.

A college has contracted a construction company to build a new bookstore for its college. The heavy machinery and equipment used by the contractor in the construction process is an example of a(n)_____.

Legislation that supports enforceable contracts usually forms part of an organization's _____ environment.

_________ is the rate at which a new product moves from conception to commercialization.

_________ is the quality and quantity of goods and services available to a population.

Describe the emergence of the "hard sell" in the production era and the marketing concept in the marketing era.

Which of the following is most likely to be part of the social dimension of a business environment?

The core goal of successful firms is to:

Identify a true statement about the production era.

Which of the following dimensions of a business environment is specifically highlighted when stock markets lose a major portion of their value and when huge, venerable institutions collapse financially?

The broader economy and one's own business skills will influence the level of one's personal financial success.

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.

Economics: The Framework for Business

The World Marketplace: Business Without Borders

Business Ethics and Social Responsibility: Doing Well by Doing Good

Business Communication: Creating and Delivering Messages that Matter

Business Formation: Choosing the Form that Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation and Leadership: Bringing Business to Life

Human Resources Management: Building a Top Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Filters

Exam 1: Business Now: Change Is the Only Constant

Identify a true statement about e-commerce.

When a business brings in less money than it needs to cover expenses, it incurs a _________.

People can create natural resources by growing and harvesting agricultural products.

Which of the following statements is true of the marketing era?

Which of the following statements is a characteristic of entrepreneurs?

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.

A college has contracted a construction company to build a new bookstore for its college. The heavy machinery and equipment used by the contractor in the construction process is an example of a(n)_____.

Legislation that supports enforceable contracts usually forms part of an organization's _____ environment.

_________ is the rate at which a new product moves from conception to commercialization.

_________ is the quality and quantity of goods and services available to a population.

Describe the emergence of the "hard sell" in the production era and the marketing concept in the marketing era.

Which of the following is most likely to be part of the social dimension of a business environment?

The core goal of successful firms is to:

Identify a true statement about the production era.

Which of the following dimensions of a business environment is specifically highlighted when stock markets lose a major portion of their value and when huge, venerable institutions collapse financially?

The broader economy and one's own business skills will influence the level of one's personal financial success.

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.

Economics: The Framework for Business

The World Marketplace: Business Without Borders

Business Ethics and Social Responsibility: Doing Well by Doing Good

Business Communication: Creating and Delivering Messages that Matter

Business Formation: Choosing the Form that Fits

Small Business and Entrepreneurship: Economic Rocket Fuel

Accounting: Decision Making by the Numbers

Finance: Acquiring and Using Funds to Maximize Value

Financial Markets: Allocating Financial Resources

Marketing: Building Profitable Customer Connections

Product and Promotion: Creating and Communicating Value

Distribution and Pricing: Right Product, Right Person, Right Place, Right Price

Management, Motivation and Leadership: Bringing Business to Life

Human Resources Management: Building a Top Quality Workforce

Managing Information and Technology: Finding New Ways to Learn and Link

Operations Management: Putting It All Together

Filters