Exam 1: Business Now: Change Is the Only Constant

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

During the_____, businesses began to develop brands to help customers understand the differences among various products.

Which of the following is considered a business?

_________ are business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

During the _____, jobs became even more specialized, increasing productivity and lowering costs and prices.

Which of the following is a true statement about profit in a business?

In the context of factors of production, the _________ factor encompasses the physical, intellectual, and creative contributions of everyone who works within an economy.

Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products.

Identify a true statement about nonprofit organizations.

How do nonprofit organizations play a critical role in an economy?

Too much taxation, an overuse of regulation, and limited choices in the broader business environment are likely to result in: