Exam 1: The Changing Face of Business

Explain how the marketing era changed marketing so that it was no longer synonymous with just selling.

When the government sets ground rules for competitive activity,the intent is to increase freedom of choice for consumers.

Citizens in a private enterprise system have the right to choose their employment,purchases,and investments,illustrating their right to ________.

Alejandro is seeking to revitalize his graphic design company with new innovations and has called a brainstorming meeting with his top designers.Alejandro is practicing ________.

Competitive differentiation is discouraged in order for a business' success.

During the Industrial era,the focus was on agriculture and other rural activities.

Creativity and critical thinking are terms for the same concept.

The private enterprise system is enhanced by maximized government participation.

Define profit.Explain why you agree or disagree with the following statement: "The success of a business is measured only by the profit it earns."

All of the following are basic rights within a private enterprise system EXCEPT ________.

When a business employs an outside company to handle all customer correspondence and phone calls,the business is ________ its customer service department.

One factor that led to the Industrial Revolution was the mechanization of agriculture.

Explain how business owners enhance productivity by building connections with their customers in the relationship era.

Tarek,a former middle manager from Alexander Manufacturing,owns and operates a Subway franchise.Tarek is demonstrating ________.