Question 1

Tom is a college senior who would like to get a "green-collar" job when he graduates.Which of the following positions is he LEAST likely to apply for?

Accepted Answer

A)  a job as a wind turbine engineer 
B)  a job installing solar panels 
C)  a job as manager at an oil refinery 
D)  a job weatherproofing houses 
E)  a job selling hybrid cars 
A)  a job as a wind turbine engineer 
B)  a job installing solar panels 
C)  a job as manager at an oil refinery 
D)  a job weatherproofing houses 
E)  a job selling hybrid cars

Question 2

Explain how the social environment can affect business.

Accepted Answer

A social environment is an interconnecte

Question 3

How does social networking affect the competitiveness of a business?

Accepted Answer

Companies are increasingly using social

Question 4

Assume that you are a business owner who has concerns about the impact of globalization.What is the most practical attitude for you to adopt regarding the trend toward increasing globalization?

Accepted Answer

A business owner needs to accept that gl

Question 5

________ refers to a company's choice to relocate its production facilities overseas or subcontract at least some of the components to foreign companies at low costs.

Accepted Answer

A)  Globalization 
B)  Diversifying 
C)  Downsizing 
D)  Contracting 
E)  Offshoring 
A)  Globalization 
B)  Diversifying 
C)  Downsizing 
D)  Contracting 
E)  Offshoring

Question 6

What are some of the advantages and disadvantages of globalization for the U.S.economy?

Accepted Answer

Globalization presents both benefits and

Question 7

Which of the following is NOT an advantage of technology?

Accepted Answer

A)  streamlines businesses 
B)  cuts costs 
C)  fosters a more personal work environment 
D)  helps employees work more efficiently 
E)  keeps a company well-connected 
A)  streamlines businesses 
B)  cuts costs 
C)  fosters a more personal work environment 
D)  helps employees work more efficiently 
E)  keeps a company well-connected

Question 8

Carla wants to start a new software company,but she lives in a remote community where few skilled software programmers live.Which of the following is the BEST cost-effective strategy for building her workforce?

Accepted Answer

A)  Produce only software she can create herself. 
B)  Use the Internet and other technologies to hire remote employees who want to telecommute. 
C)  Offer free computer programming training programs to the local workforce. 
D)  Relocate to an urban area where there are many software programmers. 
E)  Wait until more software programmers move to the area. 
A)  Produce only software she can create herself. 
B)  Use the Internet and other technologies to hire remote employees who want to telecommute. 
C)  Offer free computer programming training programs to the local workforce. 
D)  Relocate to an urban area where there are many software programmers. 
E)  Wait until more software programmers move to the area.

Question 9

When businesses compete,products usually become more expensive.

Accepted Answer

A) True 
 B)False

Question 10

As more profit is generated,a company is able to increase its productivity.

Accepted Answer

A) True 
 B)False

Question 11

Who is legally responsible for protecting the privacy of consumer information that businesses store online?

Accepted Answer

A)  Social Security Administration 
B)  Internal Revenue Service 
C)  Internet service providers 
D)  consumers 
E)  business owners 
A)  Social Security Administration 
B)  Internal Revenue Service 
C)  Internet service providers 
D)  consumers 
E)  business owners

Question 12

Globalization is recognized by all as a force for good in the U.S.economy.

Accepted Answer

A) True 
 B)False

Question 13

Explain the similarities and differences between the different types of capital.

Accepted Answer

There are two types of capital: real cap

Question 14

Teresa and Luis are getting married next month.Which of the following elements of their wedding does NOT require a natural resource for its production?

Accepted Answer

A)  the wedding rings 
B)  the wedding vows 
C)  the wedding cake 
D)  the bridesmaids' dresses 
E)  the table centerpieces 
A)  the wedding rings 
B)  the wedding vows 
C)  the wedding cake 
D)  the bridesmaids' dresses 
E)  the table centerpieces

Question 15

John runs a chain of grocery stores in Colorado.He has just heard a weather report that a storm is headed for his area a few days from now.What should John do to ensure that the goods he needs for his stores are delivered despite the bad weather?

Accepted Answer

John's business depends on a supply chai

Question 16

Jocelyn and Jacob are considering opening several branches of their fashion design business in Italy,Germany,and Spain.What cultural issues should they consider before making a final decision?

Accepted Answer

The text describes a number of cultural

Question 17

Which of the following is an example of real capital?

Accepted Answer

A)  a business loan 
B)  computer software 
C)  natural gas 
D)  a manufacturing plant 
E)  personal savings 
A)  a business loan 
B)  computer software 
C)  natural gas 
D)  a manufacturing plant 
E)  personal savings

Question 18

To become successful,a company should keep pace with the latest technology.

Accepted Answer

A) True 
 B)False

Question 19

Which of these characteristics is NOT applicable to a multinational company?

Accepted Answer

A)  It provides goods or services to international consumers. 
B)  It may serve only one country but have suppliers or facilities in other countries. 
C)  Its employees must speak multiple languages. 
D)  It may adapt its operations to fit the cultures of the countries in which it operates. 
E)  It is subject only to the laws of the country in which the company originated. 
A)  It provides goods or services to international consumers. 
B)  It may serve only one country but have suppliers or facilities in other countries. 
C)  Its employees must speak multiple languages. 
D)  It may adapt its operations to fit the cultures of the countries in which it operates. 
E)  It is subject only to the laws of the country in which the company originated.

Question 20

Baby boomers are an unprofitable demographic target for businesses.

Accepted Answer

A) True 
 B)False

Exam 1: Business Basics

Tom is a college senior who would like to get a "green-collar" job when he graduates.Which of the following positions is he LEAST likely to apply for?

Explain how the social environment can affect business.

How does social networking affect the competitiveness of a business?

Assume that you are a business owner who has concerns about the impact of globalization.What is the most practical attitude for you to adopt regarding the trend toward increasing globalization?

________ refers to a company's choice to relocate its production facilities overseas or subcontract at least some of the components to foreign companies at low costs.

What are some of the advantages and disadvantages of globalization for the U.S.economy?

Which of the following is NOT an advantage of technology?

Carla wants to start a new software company,but she lives in a remote community where few skilled software programmers live.Which of the following is the BEST cost-effective strategy for building her workforce?

When businesses compete,products usually become more expensive.

As more profit is generated,a company is able to increase its productivity.

Who is legally responsible for protecting the privacy of consumer information that businesses store online?

Globalization is recognized by all as a force for good in the U.S.economy.

Explain the similarities and differences between the different types of capital.

Teresa and Luis are getting married next month.Which of the following elements of their wedding does NOT require a natural resource for its production?

John runs a chain of grocery stores in Colorado.He has just heard a weather report that a storm is headed for his area a few days from now.What should John do to ensure that the goods he needs for his stores are delivered despite the bad weather?

Jocelyn and Jacob are considering opening several branches of their fashion design business in Italy,Germany,and Spain.What cultural issues should they consider before making a final decision?

Which of the following is an example of real capital?

To become successful,a company should keep pace with the latest technology.

Which of these characteristics is NOT applicable to a multinational company?

Baby boomers are an unprofitable demographic target for businesses.

Economics and Banking

Ethics in Business

Business in a Global Economy

Small Business and the Entrepreneur

Forms of Business Ownership

Business Management and Organization

Motivation, Leadership, and Teamwork

Human Resource Management

Online Business and Technology

Production, operations, and the Supply Chain

Marketing and Consumer Behavior

Product Development and Pricing Strategies

Promotion and Distribution

Financing and Tracking Business Operations

Investment Opportunities in the Securities Market

Business Law

Constructing an Effective Business Plan

Business Communications

Finding a Job

Personal Finance

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