Question 1

SuperComm provides a generous match to its employees' retirement plan contributions. How is SuperComm advancing the interests of society in this example?

Accepted Answer

A)  by paying retirement taxes 
B)  by funding essential services 
C)  by providing benefits for employees 
D)  by producing services 
E)  by donating funds for employees 
A)  by paying retirement taxes 
B)  by funding essential services 
C)  by providing benefits for employees 
D)  by producing services 
E)  by donating funds for employees

Question 2

Janan has been running a furniture refinishing business for more than ten years. The business has continued to grow, and she finds that she has less time for the administrative facets of her business. Janan decides to hire an office manager who has knowledge of accounting and payroll to assist her. Which of the five factors of production is Janan most impacting?

Accepted Answer

A)  entrepreneurship 
B)  human resources 
C)  capital 
D)  risk 
E)  knowledge 
A)  entrepreneurship 
B)  human resources 
C)  capital 
D)  risk 
E)  knowledge

Question 3

What of the following would be thebest example of a good?

Accepted Answer

A)  a massage and facial at a health salon 
B)  a used smartphone from a secondhand store 
C)  an immunization at a hospital 
D)  a movie at the theatre 
E)  a professional baseball game at the new stadium 
A)  a massage and facial at a health salon 
B)  a used smartphone from a secondhand store 
C)  an immunization at a hospital 
D)  a movie at the theatre 
E)  a professional baseball game at the new stadium

Question 4

As more and more individuals in Generation Z move out into the world, the housing market has shifted to meet their changing needs. This change is best represented by the ________ forces in the business environment.

Accepted Answer

A)  social 
B)  competitive 
C)  technological 
D)  economic 
E)  capital 
A)  social 
B)  competitive 
C)  technological 
D)  economic 
E)  capital

Question 5

Newspapers, TV, and social media are all forms of ________ that influence businesses.

Accepted Answer

A)  interest groups 
B)  customers 
C)  media 
D)  distributors 
E)  lenders 
A)  interest groups 
B)  customers 
C)  media 
D)  distributors 
E)  lenders

Question 6

Smart Telephony has $500,000 in revenue and $600,000 in expenses this year. Which situation best describes the company's financial situation for the year?

Accepted Answer

A)  nonprofit 
B)  loss 
C)  profit 
D)  risk-adverse 
E)  competitive disadvantage 
A)  nonprofit 
B)  loss 
C)  profit 
D)  risk-adverse 
E)  competitive disadvantage

Question 7

During the late 19th through the early 20th century, the United States evolved into a(n) ________ nation.

Accepted Answer

A)  service 
B)  automated 
C)  global 
D)  industrial 
E)  agricultural 
A)  service 
B)  automated 
C)  global 
D)  industrial 
E)  agricultural

Question 8

Javier works for a company that helps sell clothing to customers by providing a place for customers to purchase the clothing. Javier's company is a(n)

Accepted Answer

A)  shareholder. 
B)  supplier. 
C)  distributor. 
D)  interest group. 
E)  regulator. 
A)  shareholder. 
B)  supplier. 
C)  distributor. 
D)  interest group. 
E)  regulator.

Question 9

Which example best demonstrates how a large company could impact the town in which it operates?

Accepted Answer

A)  The town is more likely to be approved for a bank loan to build a new pool. 
B)  Town schools are more likely to receive tax credits. 
C)  Distributors are more likely to open businesses in the town. 
D)  Customers are more likely to relocate to the town. 
E)  Suppliers are more likely to offer discounts on bulk shipping to the town. 
A)  The town is more likely to be approved for a bank loan to build a new pool. 
B)  Town schools are more likely to receive tax credits. 
C)  Distributors are more likely to open businesses in the town. 
D)  Customers are more likely to relocate to the town. 
E)  Suppliers are more likely to offer discounts on bulk shipping to the town.

Question 10

Land, water, and wind are all

Accepted Answer

A)  production outputs. 
B)  natural resources. 
C)  forms of capital. 
D)  forms of human resources. 
E)  forms of knowledge. 
A)  production outputs. 
B)  natural resources. 
C)  forms of capital. 
D)  forms of human resources. 
E)  forms of knowledge.

Question 11

Herbivores is a vitamin company with 14 employees. These employees are ________ resources of the company.

Accepted Answer

A)  natural 
B)  capital 
C)  service 
D)  product 
E)  human 
A)  natural 
B)  capital 
C)  service 
D)  product 
E)  human

Question 12

How are for-profit and nonprofit organizations the same and how are they different? Provide an example of each type of organization.

Accepted Answer

For-profit and nonprofit organizations a

Question 13

Elle runs her own business, selling children's clothing. She wants to make as much money as possible and has set a goal to double the number of stores next year. Elle runs a ________ business.

Accepted Answer

A)  public sector 
B)  charitable giving 
C)  nonprofit 
D)  tax-exempt 
E)  for-profit 
A)  public sector 
B)  charitable giving 
C)  nonprofit 
D)  tax-exempt 
E)  for-profit

Question 14

All companies operate within the ________, the arena of forces that encourage or discourage the development of business.

Accepted Answer

A)  global sphere 
B)  economic policy area 
C)  technology window 
D)  external setting 
E)  business environment 
A)  global sphere 
B)  economic policy area 
C)  technology window 
D)  external setting 
E)  business environment

Question 15

Shamira runs a small catering business in her hometown. Every three months, Shamira and her staff take hot meals to a homeless shelter across town. In this example, how is Shamira most helping society with her business?

Accepted Answer

A)  by producing services 
B)  by paying taxes 
C)  by providing benefits to her staff 
D)  by sharing her profits 
E)  by donating goods 
A)  by producing services 
B)  by paying taxes 
C)  by providing benefits to her staff 
D)  by sharing her profits 
E)  by donating goods

Question 16

Carson has an opportunity to open a new business in another country. Describe at least two of the economic forces he should consider when evaluating the opportunity.

Accepted Answer

When evaluating the opportunity to open

Question 17

The purpose of all technology is to improve

Accepted Answer

A)  profits. 
B)  flexibility. 
C)  security. 
D)  productivity. 
E)  product development. 
A)  profits. 
B)  flexibility. 
C)  security. 
D)  productivity. 
E)  product development.

Question 18

Barb, the owner of a lawn mowing business, gave half of her monthly revenue to a local homeless shelter. From this information, you can conclude that Barb's company is a

Accepted Answer

A)  for-profit organization. 
B)  nonprofit organization. 
C)  charitable business. 
D)  public company. 
E)  not-for-profit business. 
A)  for-profit organization. 
B)  nonprofit organization. 
C)  charitable business. 
D)  public company. 
E)  not-for-profit business.

Question 19

Ruby runs a very successful lawn mowing business. Her son is doing a report on the five factors of production for school and decides to interview Ruby for a real-life example. Help Ruby give her son at least one example of each of the factors of production.

Accepted Answer

Sure! Here are some examples of the five

Question 20

Armida is a lawyer with the American Civil Liberties Union (ACLU). She is regularly in court working to ensure fair treatment of all individuals in the business world. The ACLU canbest be described as a(n)

Accepted Answer

A)  government regulator. 
B)  employee shareholder. 
C)  contract enforcement group. 
D)  special-interest group. 
E)  demographic compliance group. 
A)  government regulator. 
B)  employee shareholder. 
C)  contract enforcement group. 
D)  special-interest group. 
E)  demographic compliance group.

SuperComm provides a generous match to its employees' retirement plan contributions. How is SuperComm advancing the interests of society in this example?

What of the following would be thebest example of a good?

As more and more individuals in Generation Z move out into the world, the housing market has shifted to meet their changing needs. This change is best represented by the ________ forces in the business environment.

Newspapers, TV, and social media are all forms of ________ that influence businesses.

Smart Telephony has $500,000 in revenue and $600,000 in expenses this year. Which situation best describes the company's financial situation for the year?

During the late 19th through the early 20th century, the United States evolved into a(n) ________ nation.

Javier works for a company that helps sell clothing to customers by providing a place for customers to purchase the clothing. Javier's company is a(n)

Which example best demonstrates how a large company could impact the town in which it operates?

Land, water, and wind are all

Herbivores is a vitamin company with 14 employees. These employees are ________ resources of the company.

How are for-profit and nonprofit organizations the same and how are they different? Provide an example of each type of organization.

Elle runs her own business, selling children's clothing. She wants to make as much money as possible and has set a goal to double the number of stores next year. Elle runs a ________ business.

All companies operate within the ________, the arena of forces that encourage or discourage the development of business.

Shamira runs a small catering business in her hometown. Every three months, Shamira and her staff take hot meals to a homeless shelter across town. In this example, how is Shamira most helping society with her business?

Carson has an opportunity to open a new business in another country. Describe at least two of the economic forces he should consider when evaluating the opportunity.

The purpose of all technology is to improve

Barb, the owner of a lawn mowing business, gave half of her monthly revenue to a local homeless shelter. From this information, you can conclude that Barb's company is a

Ruby runs a very successful lawn mowing business. Her son is doing a report on the five factors of production for school and decides to interview Ruby for a real-life example. Help Ruby give her son at least one example of each of the factors of production.

Armida is a lawyer with the American Civil Liberties Union (ACLU). She is regularly in court working to ensure fair treatment of all individuals in the business world. The ACLU canbest be described as a(n)

Fundamentals of the Business World

Acting Ethically and Socially Responsible

Fundamentals of Economics and Types of Markets

The Development of the Global Economy

Entrepreneurship: From Startup to Growth

Accounting and Financial Statements

Securities, Investments, and Financial Literacy

Essentials of Leadership and Management

Operations Management

Human Resource Management and Labor Relations

Organizational Behavior

Introduction to Marketing

Products

Pricing and Distribution

Promotion Mix: Tools, Goals, and Strategies

Filters

Exam 7: Core Components of Finance and Banking

SuperComm provides a generous match to its employees' retirement plan contributions. How is SuperComm advancing the interests of society in this example?

What of the following would be thebest example of a good?

As more and more individuals in Generation Z move out into the world, the housing market has shifted to meet their changing needs. This change is best represented by the ________ forces in the business environment.

Newspapers, TV, and social media are all forms of ________ that influence businesses.

Smart Telephony has $500,000 in revenue and $600,000 in expenses this year. Which situation best describes the company's financial situation for the year?

During the late 19th through the early 20th century, the United States evolved into a(n) ________ nation.

Javier works for a company that helps sell clothing to customers by providing a place for customers to purchase the clothing. Javier's company is a(n)

Which example best demonstrates how a large company could impact the town in which it operates?

Land, water, and wind are all

Herbivores is a vitamin company with 14 employees. These employees are ________ resources of the company.

How are for-profit and nonprofit organizations the same and how are they different? Provide an example of each type of organization.

Elle runs her own business, selling children's clothing. She wants to make as much money as possible and has set a goal to double the number of stores next year. Elle runs a ________ business.

All companies operate within the ________, the arena of forces that encourage or discourage the development of business.

Shamira runs a small catering business in her hometown. Every three months, Shamira and her staff take hot meals to a homeless shelter across town. In this example, how is Shamira most helping society with her business?

Carson has an opportunity to open a new business in another country. Describe at least two of the economic forces he should consider when evaluating the opportunity.

The purpose of all technology is to improve

Barb, the owner of a lawn mowing business, gave half of her monthly revenue to a local homeless shelter. From this information, you can conclude that Barb's company is a

Ruby runs a very successful lawn mowing business. Her son is doing a report on the five factors of production for school and decides to interview Ruby for a real-life example. Help Ruby give her son at least one example of each of the factors of production.

Armida is a lawyer with the American Civil Liberties Union (ACLU). She is regularly in court working to ensure fair treatment of all individuals in the business world. The ACLU canbest be described as a(n)

Fundamentals of the Business World

Acting Ethically and Socially Responsible

Fundamentals of Economics and Types of Markets

The Development of the Global Economy

Entrepreneurship: From Startup to Growth

Accounting and Financial Statements

Securities, Investments, and Financial Literacy

Essentials of Leadership and Management

Operations Management

Human Resource Management and Labor Relations

Organizational Behavior

Introduction to Marketing

Products

Pricing and Distribution

Promotion Mix: Tools, Goals, and Strategies

Filters