Question 1

Social responsibility would include all of the following EXCEPT ________.

Accepted Answer

A) supporting the local United Way 
B) buying goods and services from minority-owned vendors 
C) making campaign contributions to politicians in the hope of obtaining a government contract 
D) making contributions to the local public radio station 
A) supporting the local United Way 
B) buying goods and services from minority-owned vendors 
C) making campaign contributions to politicians in the hope of obtaining a government contract 
D) making contributions to the local public radio station

Question 2

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

Accepted Answer

A) critical thinking 
B) social responsibility 
C) vision 
D) creativity 
A) critical thinking 
B) social responsibility 
C) vision 
D) creativity

Question 3

The business philosophy that advocates determining what consumers want and need,and then designing products to satisfy those needs,is known as ________.

Accepted Answer

A) consumer orientation 
B) self-sufficiency concept 
C) work ethic 
D) production concept 
A) consumer orientation 
B) self-sufficiency concept 
C) work ethic 
D) production concept

Question 4

The work-comes-first lifestyle is exemplified by:

Accepted Answer

A) Baby Boomers 
B) Generation X 
C) Generation Y 
D) The EU 
A) Baby Boomers 
B) Generation X 
C) Generation Y 
D) The EU

Question 5

Entrepreneurship is synonymous with 'risk-taking.'

Accepted Answer

A) True 
 B)False

Question 6

Even with advances in management and communications,manufacturing still accounts for most of the annual output in the United States.

Accepted Answer

A) True 
 B)False

Question 7

Technology and capital are considered two separate factors of production.

Accepted Answer

A) True 
 B)False

Question 8

Technology,tools,information,and physical facilities for the operation of a business are examples of ________.

Accepted Answer

A) profits 
B) wages 
C) capital 
D) interest 
A) profits 
B) wages 
C) capital 
D) interest

Question 9

MATCHING
Complete the following using the terms listed.
-_____ are businesslike establishments that have primary objectives other than returning profits to their owners.

Accepted Answer

A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) private property
F)capital
G)vision
H)factors of production
I)brand
J)relationship era
K)not-for-profit organizations
L)business ethics 
A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) private property
F)capital
G)vision
H)factors of production
I)brand
J)relationship era
K)not-for-profit organizations
L)business ethics

Question 10

The number of people age 65 or over will ________ by 2025.

Accepted Answer

A) decrease by approximately 10 percent 
B) double 
C) increase by approximately 50 percent 
D) increase by approximately 10 percent 
A) decrease by approximately 10 percent 
B) double 
C) increase by approximately 50 percent 
D) increase by approximately 10 percent

Question 11

What are some examples of external and internal forces that would require a manager to lead organizational change?

Accepted Answer

External forces might include feedback f

Question 12

Namesh recently sold his Ford Taurus to a personal friend.Namesh's sale of his automobile illustrates the right to ________.

Accepted Answer

A) freedom of choice 
B) private property 
C) profit 
D) set ground rules for competitive activity 
A) freedom of choice 
B) private property 
C) profit 
D) set ground rules for competitive activity

Question 13

MATCHING
Complete the following using the terms listed.
-The ability to perceive future marketplace needs and what an organization can do to satisfy them is referred to as _____.

Accepted Answer

A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) private property
F)capital
G)vision
H)factors of production
I)brand
J)relationship era
K)not-for-profit organizations
L)business ethics 
A) outsourcing 
B) diversity 
C) entrepreneur 
D) competitive differentiation 
E) private property
F)capital
G)vision
H)factors of production
I)brand
J)relationship era
K)not-for-profit organizations
L)business ethics

Question 14

"Newman's Own" is a food product line that gives 100 percent of its after-tax profits to charity.This company is practicing ________.

Accepted Answer

A) business ethics 
B) social responsibility 
C) customer satisfaction 
D) creativity 
A) business ethics 
B) social responsibility 
C) customer satisfaction 
D) creativity

Question 15

All of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to ________.

Accepted Answer

A) fair competition 
B) permit price discrimination 
C) select from among a variety of goods and services 
D) own property 
A) fair competition 
B) permit price discrimination 
C) select from among a variety of goods and services 
D) own property

Question 16

During the next few years,the average age of the workforce is expected to increase.

Accepted Answer

A) True 
 B)False

Question 17

Technology has revolutionized business communications.

Accepted Answer

A) True 
 B)False

Question 18

The supply for jobs is slowly becoming greater than the demand for workers.

Accepted Answer

A) True 
 B)False

Question 19

Describe how the aging population in the United States and abroad directly affects changes in the workforce.

Accepted Answer

Employers must deal with issues such as

Question 20

In business,________ refers to the ability to see better and different ways of doing business.

Accepted Answer

A) critical thinking 
B) social responsibility 
C) creativity 
D) vision 
A) critical thinking 
B) social responsibility 
C) creativity 
D) vision

Social responsibility would include all of the following EXCEPT ________.

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

The business philosophy that advocates determining what consumers want and need,and then designing products to satisfy those needs,is known as ________.

The work-comes-first lifestyle is exemplified by:

Entrepreneurship is synonymous with 'risk-taking.'

Even with advances in management and communications,manufacturing still accounts for most of the annual output in the United States.

Technology and capital are considered two separate factors of production.

Technology,tools,information,and physical facilities for the operation of a business are examples of ________.

MATCHING Complete the following using the terms listed. -_____ are businesslike establishments that have primary objectives other than returning profits to their owners.

The number of people age 65 or over will ________ by 2025.

What are some examples of external and internal forces that would require a manager to lead organizational change?

Namesh recently sold his Ford Taurus to a personal friend.Namesh's sale of his automobile illustrates the right to ________.

MATCHING Complete the following using the terms listed. -The ability to perceive future marketplace needs and what an organization can do to satisfy them is referred to as _____.

"Newman's Own" is a food product line that gives 100 percent of its after-tax profits to charity.This company is practicing ________.

All of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to ________.

During the next few years,the average age of the workforce is expected to increase.

Technology has revolutionized business communications.

The supply for jobs is slowly becoming greater than the demand for workers.

Describe how the aging population in the United States and abroad directly affects changes in the workforce.

In business,________ refers to the ability to see better and different ways of doing business.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Small Business and Forms of Business Ownership

Starting Your Own Business

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 1: The Changing Face of Business

Social responsibility would include all of the following EXCEPT ________.

________ is the ability to perceive marketplace needs and what an organization must do to satisfy these needs.

The business philosophy that advocates determining what consumers want and need,and then designing products to satisfy those needs,is known as ________.

The work-comes-first lifestyle is exemplified by:

Entrepreneurship is synonymous with 'risk-taking.'

Even with advances in management and communications,manufacturing still accounts for most of the annual output in the United States.

Technology and capital are considered two separate factors of production.

Technology,tools,information,and physical facilities for the operation of a business are examples of ________.

MATCHING Complete the following using the terms listed. -_____ are businesslike establishments that have primary objectives other than returning profits to their owners.

The number of people age 65 or over will ________ by 2025.

What are some examples of external and internal forces that would require a manager to lead organizational change?

Namesh recently sold his Ford Taurus to a personal friend.Namesh's sale of his automobile illustrates the right to ________.

MATCHING Complete the following using the terms listed. -The ability to perceive future marketplace needs and what an organization can do to satisfy them is referred to as _____.

"Newman's Own" is a food product line that gives 100 percent of its after-tax profits to charity.This company is practicing ________.

All of the following are rights granted to citizens and to the government in a private enterprise system EXCEPT the right to ________.

During the next few years,the average age of the workforce is expected to increase.

Technology has revolutionized business communications.

The supply for jobs is slowly becoming greater than the demand for workers.

Describe how the aging population in the United States and abroad directly affects changes in the workforce.

In business,________ refers to the ability to see better and different ways of doing business.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Small Business and Forms of Business Ownership

Starting Your Own Business

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters