Question 1

The threat of terrorism:

Accepted Answer

A)   benefits most businesses because just about all companies contribute toward averting these threats.
B)   will certainly affect companies that participate in global trade,but most large U.S.companies do their business domestically.
C)   has increased the quality of life of most people because companies employ more workers when the threat is high,and workers help companies increase profits.
D)   is costly to most firms because it is costly to governments who increase taxes to pay for added protection.E) A) and B)
F) A) and C)

Question 2

Businesses and nonprofit organizations often strive to accomplish the same objectives.

Accepted Answer

A) True 
 B)False

Question 3

Rob is an emergency room nurse at a local hospital in Texas.On a weekly basis,he will serve a number of patients who are not legally U.S.citizens.Many of them are giving birth to babies.Fortunately,Rob speaks enough Spanish to communicate with the patients.Rob is experiencing the realities of the social environment in some states.

Accepted Answer

A) True 
 B)False

Question 4

One factor that has had a major effect on businesses is the growth of single-parent families.

Accepted Answer

A) True 
 B)False

Question 5

Which of the statements about demography is most accurate? Demographic studies:

Accepted Answer

A)   focus on factors that have great political relevance,but little relevance to business firms.
B)   suggest that the number of single-parent families will decline in the future.
C)   provide businesses and individuals with insights into business and career opportunities for the future.
D)   are an important source of information about changes in health patterns.E) A) and D)
F) B) and D)

Question 6

Honda and Toyota have used insourcing for years to produce cars in the United States.Insourcing:

Accepted Answer

A)   helps offset the number of jobs being outsourced.
B)   increases the number of jobs being outsourced.
C)   damages the United States economy.
D)   causes jobs to be lost to overseas competitors.E) C) and D)
F) A) and B)

Question 7

Maintaining a competitive advantage is very important to the success of today's businesses.All of the following strategies will help a firm remain competitive,except:

Accepted Answer

A)   Ignoring competitor movements,including new products and services offered by the competition.
B)   Restructuring internal processes,including the elimination of some jobs.
C)   Spending funds on customer service training for front-line employees.
D)   Adhering to a vision of employee empowerment and striving to exceed customer expectations.E) B) and D)
F) B) and C)

Question 8

An effort to please one group of stakeholders eventually pleases all stakeholders.

Accepted Answer

A) True 
 B)False

Question 9

Describe several ways that governments can foster entrepreneurship and encourage the creation of wealth.

Accepted Answer

One of the best things government can do...

Question 10

___________ means producing items using the least amount of resources.

Accepted Answer

A)   Efficiency
B)   Technology
C)   E-production
D)   ProductivityE) A) and D)
F) B) and C)

Question 11

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

Accepted Answer

A) True 
 B)False

Question 12

Business decisions should consider the interests of customers,employees,suppliers,government leaders,and stockholders.

Accepted Answer

A) True 
 B)False

Question 13

The amount of goods and services people can buy with the money they have is called their:

Accepted Answer

A)   nominal income.
B)   consumer price index.
C)   profit margin.
D)   standard of living.E) B) and D)
F) All of the above

Question 14

The term "standard of living" refers to the amount of debt people can incur on a given income.

Accepted Answer

A) True 
 B)False

Question 15

If they wish to create more wealth,poor nations should focus on policies that increase entrepreneurship and the effective use of knowledge.

Accepted Answer

A) True 
 B)False

Question 16

Most business experts agree that entrepreneurship and the effective use of knowledge are the most important contributors to the creation of wealth.

Accepted Answer

A) True 
 B)False

Question 17

The most important difference between for-profit businesses and nonprofit organizations is that:

Accepted Answer

A)   businesses do not benefit society.
B)   nonprofit organizations seek to make a profit for its owners and organizers.
C)   nonprofit organizations do not seek a profit for its owners or organizers.
D)   nonprofit organizations do not file tax returns.E) B) and C)
F) B) and D)

Question 18

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.

Accepted Answer

A) True 
 B)False

Question 19

Money is one of the five factors of production that contribute to the creation of wealth.

Accepted Answer

A) True 
 B)False

Question 20

Globalization has greatly increased living standards around the world.

Accepted Answer

A) True 
 B)False

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

___________ means producing items using the least amount of resources.

Correct Answer
verified

Most business experts agree that entrepreneurship and the effective use of knowledge are the most important contributors to the creation of wealth.

Correct Answer
verified

The amount of goods and services people can buy with the money they have is called their:

Correct Answer
verified

Money is one of the five factors of production that contribute to the creation of wealth.

Correct Answer
verified

Correct Answer
verified

Businesses and nonprofit organizations often strive to accomplish the same objectives.

Correct Answer
verified

Business decisions should consider the interests of customers,employees,suppliers,government leaders,and stockholders.

Correct Answer
verified

One factor that has had a major effect on businesses is the growth of single-parent families.

Correct Answer
verified

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

Correct Answer
verified

Maintaining a competitive advantage is very important to the success of today's businesses.All of the following strategies will help a firm remain competitive,except:

Correct Answer
verified

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.

Correct Answer
verified

Which of the statements about demography is most accurate? Demographic studies:

Correct Answer
verified

Honda and Toyota have used insourcing for years to produce cars in the United States.Insourcing:

Correct Answer
verified

An effort to please one group of stakeholders eventually pleases all stakeholders.

Correct Answer
verified

The most important difference between for-profit businesses and nonprofit organizations is that:

Correct Answer
verified

The threat of terrorism:

Correct Answer
verified

If they wish to create more wealth,poor nations should focus on policies that increase entrepreneurship and the effective use of knowledge.

Correct Answer
verified

Describe several ways that governments can foster entrepreneurship and encourage the creation of wealth.

Correct Answer
verified
One of the best things government can do...
View Answer

The term "standard of living" refers to the amount of debt people can incur on a given income.

Correct Answer
verified

Globalization has greatly increased living standards around the world.

Correct Answer
verified

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

___________ means producing items using the least amount of resources.

Correct AnswerverifiedShow Answer

Most business experts agree that entrepreneurship and the effective use of knowledge are the most important contributors to the creation of wealth.

Correct AnswerverifiedShow Answer

The amount of goods and services people can buy with the money they have is called their:

Correct AnswerverifiedShow Answer

Money is one of the five factors of production that contribute to the creation of wealth.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Businesses and nonprofit organizations often strive to accomplish the same objectives.

Correct AnswerverifiedShow Answer

Business decisions should consider the interests of customers,employees,suppliers,government leaders,and stockholders.

Correct AnswerverifiedShow Answer

One factor that has had a major effect on businesses is the growth of single-parent families.

Correct AnswerverifiedShow Answer

While the proportion of workers employed in agriculture has remained relatively constant,the average size of farms has steadily decreased over the past century.

Correct AnswerverifiedShow Answer

Maintaining a competitive advantage is very important to the success of today's businesses.All of the following strategies will help a firm remain competitive,except:

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Which of the statements about demography is most accurate? Demographic studies:

Correct AnswerverifiedShow Answer

Honda and Toyota have used insourcing for years to produce cars in the United States.Insourcing:

Correct AnswerverifiedShow Answer

An effort to please one group of stakeholders eventually pleases all stakeholders.

Correct AnswerverifiedShow Answer

The most important difference between for-profit businesses and nonprofit organizations is that:

Correct AnswerverifiedShow Answer

The threat of terrorism:

Correct AnswerverifiedShow Answer

If they wish to create more wealth,poor nations should focus on policies that increase entrepreneurship and the effective use of knowledge.

Correct AnswerverifiedShow Answer

Describe several ways that governments can foster entrepreneurship and encourage the creation of wealth.

Correct AnswerverifiedOne of the best things government can do...View AnswerShow Answer

The term "standard of living" refers to the amount of debt people can incur on a given income.

Correct AnswerverifiedShow Answer

Globalization has greatly increased living standards around the world.

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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One of the best things government can do...
View Answer

Correct Answer
verified

Correct Answer
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