Question 1

The standard of living for a nation's people depends mainly on:

Accepted Answer

A)  the quality of the natural environment.
B)   how much political freedom they have.
C)   their income and the prices of the goods and services they buy.
D)   the amount of labor and capital available employed in the manufacturing sector.E) B) and D)
F) A) and C)

Question 2

Several years ago, the government of the small nation of Allegro owned the nation's telephone company and landlines. This relatively poor government relied on taxes to develop this industry and provide service to its citizens. If the government desired to rapidly improve people's access to phone service, its best course of action would involve selling the telephone company to private investors.

Accepted Answer

A) True 
 B)False

Question 3

Taxes and government regulations are part of the economic and legal environment in which businesses operate.

Accepted Answer

A) True 
 B)False

Question 4

Robin has started her own Internet consulting firm. While she recognizes the risks involved in operating a business, she is still willing to invest her time, effort, and money in hopes of earning a profit. Robin is an example of an entrepreneur.

Accepted Answer

A) True 
 B)False

Question 5

Questionable business practices such as those followed by many mortgage lending companies in the past few years:

Accepted Answer

A)  encouraged investors to increase their stock market holdings.
B)  fundamentally weakened the entire economic environment.
C)   helped retired employees at the expense of current employees.
D)  resulted from too much government regulation.E) All of the above
F) C) and D)

Question 6

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

Accepted Answer

A)  Most people agree that there is strong evidence that the temperature of the planet is going down.
B)   Smart businesses know that green business is currently a trend and they should proceed with caution because most green initiatives are more costly than wars and terrorism.
C)  There is a strong push by customers that businesses develop products and services that clearly save energy.
D)  Clearly, the greening issue is an American trend that has not captured the attention of the international business community.E) All of the above
F) B) and C)

Question 7

Laws that allow companies to write enforceable contracts decrease the risk of doing business.

Accepted Answer

A) True 
 B)False

Question 8

Social entrepreneurs are people who start and manage organizations that are not-for-profit. Their mission is to help others improve their quality of life.

Accepted Answer

A) True 
 B)False

Question 9

Technology affects people in:

Accepted Answer

A)  all industries.
B)   most industries.
C)   information technology industries with the exception of agriculture.
D)   primarily high income countries.E) C) and D)
F) A) and B)

Question 10

The threat of terrorism more often the cost of operating a business.

Accepted Answer

A)   increases
B)   decreases
C)   stabilize
D)  destabilizesE) B) and C)
F) A) and D)

Question 11

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Accepted Answer

A) True 
 B)False

Question 12

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) A) and B)
F) B) and C)

Question 13

In recent years, manufacturing firms in the United States have laid off workers. The best explanation of this trend is that:

Accepted Answer

A)  firms have been trying to weaken unions by reducing their reliance on labor.
B)   workers in the U.S. have become less productive and are no longer able to compete in the global economy.
C)  firms in many industries have become so efficient that they need fewer workers.
D)  the economy has been in a prolonged depression that has lasted more than a decade.E) C) and D)
F) B) and C)

Question 14

Diversity is more than recruiting and keeping minorities and women. Diversity means appreciating and understanding other differences in our customers and in our workforce. The statement that best describes this differences is:

Accepted Answer

A)  disabilities, sexual orientation, religious preferences, and even personality differences such as extroverts and introverts.
B)   gender roles.
C)   surface level things such as green eyes versus brown eyes.
D)  racial differences and gender differences.E) B) and C)
F) A) and B)

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

Nick is a recent finance graduate who has two passions: music and finance. Upon graduation, he was offered an opportunity to join a struggling rock band with a lot of potential, or a job at a large well-established financial services company. By joining the band, he will forego which of the following?

Accepted Answer

A)  Added benefits such as health insurance provided to employees of large corporations.
B)   The freedom to contribute as an innovator in his work environment.
C)   Long hours at work, while he learns the business and contributes to making it successful.
D)  Job protection.E) C) and D)
F) None of the above

Question 17

Identity theft is when individuals or firms access people's personal information and then use it for illegal purposes and activities.

Accepted Answer

A) True 
 B)False

Question 18

Bar codes are a form of technology that has enhanced a company's ability to be responsive to consumer needs.

Accepted Answer

A) True 
 B)False

Question 19

A nation progresses socially when it has good schools, clean air and water, and more. Which of the following statements addresses conditions for social progress?

Accepted Answer

A)  Social progress will evolve when capital is apportioned to everyone in equal amounts.
B)  A city, state, or nation's social progress needs the right business environment.
C)   The foundation for social progress is a handful of wealthy entrepreneurs willing to spread the wealth.
D)  Social progress can only improve when there is a strong labor pool to draw from.E) All of the above
F) C) and D)

Question 20

Marla Staples is concerned with identity theft. One of the ways that she can protect her information from leaking-out to the wrong hands is:

Accepted Answer

A)  Avoid all e-commerce transactions because this is the only types of buying transactions where websites and others handle sensitive, personal information.
B)  Install antivirus software, firewalls, and anti-spyware software on her computer.
C)   Limit her purchases with vendors that she knows do not store her information in a database.
D)  Limit her travels to the United States because identity theft is an international problem.E) B) and C)
F) C) and D)

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

In recent years, manufacturing firms in the United States have laid off workers. The best explanation of this trend is that:

Correct Answer
verified

Diversity is more than recruiting and keeping minorities and women. Diversity means appreciating and understanding other differences in our customers and in our workforce. The statement that best describes this differences is:

Correct Answer
verified

Taxes and government regulations are part of the economic and legal environment in which businesses operate.

Correct Answer
verified

Marla Staples is concerned with identity theft. One of the ways that she can protect her information from leaking-out to the wrong hands is:

Correct Answer
verified

Identity theft is when individuals or firms access people's personal information and then use it for illegal purposes and activities.

Correct Answer
verified

A nation progresses socially when it has good schools, clean air and water, and more. Which of the following statements addresses conditions for social progress?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

Bar codes are a form of technology that has enhanced a company's ability to be responsive to consumer needs.

Correct Answer
verified

Questionable business practices such as those followed by many mortgage lending companies in the past few years:

Correct Answer
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Laws that allow companies to write enforceable contracts decrease the risk of doing business.

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

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

Correct Answer
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The threat of terrorism more often the cost of operating a business.

Correct Answer
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The standard of living for a nation's people depends mainly on:

Correct Answer
verified

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Correct Answer
verified

Correct Answer
verified

Social entrepreneurs are people who start and manage organizations that are not-for-profit. Their mission is to help others improve their quality of life.

Correct Answer
verified

Robin has started her own Internet consulting firm. While she recognizes the risks involved in operating a business, she is still willing to invest her time, effort, and money in hopes of earning a profit. Robin is an example of an entrepreneur.

Correct Answer
verified

Technology affects people in:

Correct Answer
verified

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

In recent years, manufacturing firms in the United States have laid off workers. The best explanation of this trend is that:

Correct AnswerverifiedShow Answer

Diversity is more than recruiting and keeping minorities and women. Diversity means appreciating and understanding other differences in our customers and in our workforce. The statement that best describes this differences is:

Correct AnswerverifiedShow Answer

Taxes and government regulations are part of the economic and legal environment in which businesses operate.

Correct AnswerverifiedShow Answer

Marla Staples is concerned with identity theft. One of the ways that she can protect her information from leaking-out to the wrong hands is:

Correct AnswerverifiedShow Answer

Identity theft is when individuals or firms access people's personal information and then use it for illegal purposes and activities.

Correct AnswerverifiedShow Answer

A nation progresses socially when it has good schools, clean air and water, and more. Which of the following statements addresses conditions for social progress?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Bar codes are a form of technology that has enhanced a company's ability to be responsive to consumer needs.

Correct AnswerverifiedShow Answer

Questionable business practices such as those followed by many mortgage lending companies in the past few years:

Correct AnswerverifiedShow Answer

Laws that allow companies to write enforceable contracts decrease the risk of doing business.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The threat of terrorism more often the cost of operating a business.

Correct AnswerverifiedShow Answer

The standard of living for a nation's people depends mainly on:

Correct AnswerverifiedShow Answer

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Social entrepreneurs are people who start and manage organizations that are not-for-profit. Their mission is to help others improve their quality of life.

Correct AnswerverifiedShow Answer

Robin has started her own Internet consulting firm. While she recognizes the risks involved in operating a business, she is still willing to invest her time, effort, and money in hopes of earning a profit. Robin is an example of an entrepreneur.

Correct AnswerverifiedShow Answer

Technology affects people in:

Correct AnswerverifiedShow Answer

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