Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

Sue is a single mother with two small children.Her employer is considering providing family leave.Since Sue is a single mom with small children,she is unlikely to benefit from this program. Family leave allows workers to take time off to attend to a sick child and should be quite beneficial to Sue since she has two small children.

According to the "Spotlight on Small Business" box for Chapter 1,Lisa Knoppe Reed started a unique business called "Art for a Cause".Which of the following statements accurately conveys the climate surrounding women-owned businesses?

Which of the following statements describes a recurring theme about today's ecological environment?

The evidence for climate change is questionable.Well-known U.S.companies are taking a wait-and-see approach toward addressing climate change. Climate change is a key question on the minds of most companies.

Customer-driven organizations require managers to closely direct and control their employees. Customer-driven organizations will exceed their customers' expectations by empowering their front line employees.The movement toward empowerment suggests that lower level workers are likely to assume more responsibility in the future,while managers will give up some of their authority.Managers must train frontline people to make decisions without the need to consult managers.

Profit is the amount of money a business earns above and beyond what it spends for salaries and other expenses.

Corruption and illegal activities are expected in a capitalist system and can be beneficial.

The best employment strategy for today's college graduates is to search for jobs that are closely related to their college major.

Countries that provide little or no government involvement provide the best environment for competitive businesses.

In order to create more wealth and provide better services,some nations recognize that ________________________________.

Jane's income has remained stable over the past few years while the prices of things she buys have gone up.Nevertheless,Jane feels better off because the environment is cleaner,the crime rate has declined,she has more leisure time,and the quality of medical care has improved.If Jane's experience is typical,we can conclude that the standard of living has:

The number of businesses owned by Asians,Hispanics,and American Indians has grown dramatically.

Ntercon is an Internet-based company that provides online support services for businesses that need help in setting up and maintaining their websites.Ntercon is an example of a company that is engaged in:

Wars are costly to all companies.

One of the major advantages to firms involved in e-commerce is that the technology is still so new that the Internet-based firms face very little competition. The rise of e-commerce has led to intense competition.The rise of Internet marketing drew hundreds of competitors into the fray.

When corruption is present in the business environment:

Over the past several years,workers in the small nation of Rainland have enjoyed an increase in the number of holidays and a reduction in the average length of the workday that has reduced the total number of hours they work each year.However,the output per worker in Rainland is higher now than it was before the reduction in hours.These facts suggest that productivity in Rainland has increased. Productivity is measured by dividing total output by work hours.Since output is higher while work hours have dropped,productivity must be higher.

Which of the following is a benefit of owning your own business?

Tyrell recently noticed that he was receiving several catalogs and direct mail advertisements than he had in the past even though he had not requested any of them.Which of the following best explains why this is happening?

In recent years,businesses in general have experienced a lasting impact due to the emergence of ____________.