Exam 1: Business Now: Change Is the Only Constant

What Sin of Greenwashing might a company be committing if it advertises a product as "All Natural" but the product contains all natural substances that can be toxic to humans?

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

Successful businesses embrace change and carefully evaluate risks.

What are business transactions that take place online examples of?

Which factor of production contributes most to creating wealth?

Getting current customers to buy more of your product is a lot less expensive than convincing potential customers to try your product for the first time.

In the relationship era, firms began to recognize that cultivating current customers is more profitable than constantly doing which of the following?

Compare and contrast the relationship era and the entrepreneurship era.

In today's business environment employers put less value on routine abilities. List three employee abilities employers place high value upon. Provide a brief explanation of each.

Not-for-profit organizations contribute to their region's economic stability and growth.

A firm will experience a loss when its revenue is less than its expenses.

Which of the following is the best measure of product's value to the customer?

"Quality of life" is a narrow measure of social welfare that is based exclusively on the quantity and quality of goods and services produced by a society.

What are the four major categories of factors of production?