Exam 1: Business Now: Change Is the Only Constant

What is the term for an organization that provides goods and services in an effort to earn a profit?

Speed-to-market is the rate at which consumers achieve value.

Urban Outfitters has mastered the art of managing change.With the placement of Xbox 360 consoles and other video games in the menswear section of each store,sales have grown because men are kept busy while women shop.What is this company doing in this example?

Which of the following is the best example of a natural resource?

What does a business try to deliver to its customers while maintaining its core goal to generate long-term profits?

What is the production era recognized for?

Which of the following best describes what is included in human resources?

Entrepreneurship is the resource that appears to be the most important determinant of economic growth.

Not-for-profits are business-like establishments,although their primary goal is not to make a profit.

Demographics are measurable characteristics of a population.

Which factor of production contributes most to creating wealth?

What did consumers find during the marketing era?

Describe how a not-for-profit organization gains access to funding resources.

Businesses and not-for-profit organizations rely on factors of production to achieve their objectives.

Which term would be used when a business hires bilingual workers to staff its sales and technical help positions?

Not-for-profit organizations are in business to make money.

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.

What occurs when expenses are higher than revenues for a business?

Which of the following is the best characterization of entrepreneurs?

The World Wide Web allows computer users to easily access and share information on the Internet via text,graphics,video,and animation.