Question 1

If you were to discuss and analyze the social changes affecting the future of business,which of the following statements should be part of that conversation?

Accepted Answer

A)  It is becoming more difficult to provide expert pre-natal care for women,resulting in a negative impact on the future of live births.
B)  The increase in older citizens may impact an employee's take-home pay if programs such as Social Security will need to be funded at a higher level.Skilled employees may require higher wages to make up the shortfall.
C)  With less money to spend,older Americans between the ages of 65 and 74 will no longer require transportation,entertainment,education,and lodging.This is highly likely to negatively impact these industries.
D)  Business taxes are very likely to spike rise quickly) due to the fact that welfare laws are making it relatively easy for single parents to stay home with their children,rather than find jobs.Taxes will have to support parents choosing the stay-at-home lifestyle.E) B) and C)
F) A) and B)

Question 2

Often in business the greater the risk,the ____________.

Accepted Answer

A)  greater the potential reward
B)  lower the expected revenues
C)  lower the value provided to society
D)  greater the number of stakeholdersE) A) and B)
F) A) and C)

Question 3

Demographic changes create new business opportunities.

Accepted Answer

A) True 
 B)False

Question 4

An electronic storage file where firms keep customer information is known as an) __________.

Accepted Answer

A)  MP3 file
B)  management information system
C)  database
D)  e-mail serverE) None of the above
F) All of the above

Question 5

Jared is supposed to be cramming for finals but his mind keeps wandering to the Colorado slopes.Several years ago,his Uncle Mike made it big and now owns a ski lodge just north of Aspen.He promised Jared a management trainee position and the opportunity to buy into the company by contributing a portion of his paycheck each month back into the business.As he dreams about the opportunity to be his own boss,reality bites as Jared scans his business book and reads,"freedom to succeed also means freedom to fail."

Accepted Answer

A) True 
 B)False

Question 6

Globalization:

Accepted Answer

A)  has greatly improved living standards around the world.
B)  has significantly reduced living standards around the world.
C)  has opened doors to only a handful of markets.
D)  has greatly changed companies that hire people to sell products,but not for companies that hire people to provide services.E) A) and C)
F) A) and B)

Question 7

Nonprofit organizations use financial gains to meet stated social or educational goals of the organization rather than personal profit.

Accepted Answer

A) True 
 B)False

Question 8

Profits of a business include the salaries paid to its employees.

Accepted Answer

A) True 
 B)False

Question 9

Dee Duction is a financial planner who helps people find ways to save for retirement and lower their taxes.Cee is employed in the service sector of the economy.

Accepted Answer

A) True 
 B)False

Question 10

The social security system,

Accepted Answer

A)  continues to burden businesses due to the fact that businesses must provide and pay for this benefit for their employees.
B)  met the needs of our nation when it was conceived,but needs an overhaul.
C)  will continue to serve the needs of U.S.citizens into the distant future,due to the fact that there are so few retirees placing a strain on it.
D)  is failing because the U.S.government failed to invest the money that employees contributed.E) All of the above
F) A) and B)

Question 11

Greening refers to:

Accepted Answer

A)  the need for more carbon dioxide in our air.
B)  firms acquiring more green backs U.S.dollars) from world trade.
C)  finding ways to lessen the harm on our environment.
D)  the agricultural industry's push to develop and produce new green vegetables to feed the world.E) A) and B)
F) A) and C)

Question 12

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 13

To implement a policy of empowerment,the organization will restructure so that:

Accepted Answer

A)  managers have more responsibility and employees learn to follow directions.
B)  employees assume more responsibility.
C)  workers agree to work overtime without extra pay.
D)  an entire level of management is removed from the organization.E) All of the above
F) A) and D)

Question 14

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

Accepted Answer

A) True 
 B)False

Question 15

Stakeholders include customers,employees,stockholders,suppliers,dealers,bankers,government officials and environmentalists.

Accepted Answer

A) True 
 B)False

Question 16

The amount of profit or loss earned by a business can be found by subtracting the firm's expenses from its revenues.

Accepted Answer

A) True 
 B)False

Question 17

Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable.

Accepted Answer

A) True 
 B)False

Question 18

The growth in the service sector in the United States appears to be giving way to an information-based global er
A.

Accepted Answer

A) True 
 B)False

Question 19

Stakeholders are all the people who stand to gain or lose by the policies and activities of a business.

Accepted Answer

A) True 
 B)False

Question 20

___________ means producing items using the least amount of resources.

Accepted Answer

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

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

To implement a policy of empowerment,the organization will restructure so that:

Correct Answer
verified

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

Correct Answer
verified

Often in business the greater the risk,the ____________.

Correct Answer
verified

Greening refers to:

Correct Answer
verified

Profits of a business include the salaries paid to its employees.

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

Stakeholders are all the people who stand to gain or lose by the policies and activities of a business.

Correct Answer
verified

If you were to discuss and analyze the social changes affecting the future of business,which of the following statements should be part of that conversation?

Correct Answer
verified

The amount of profit or loss earned by a business can be found by subtracting the firm's expenses from its revenues.

Correct Answer
verified

Globalization:

Correct Answer
verified

Nonprofit organizations use financial gains to meet stated social or educational goals of the organization rather than personal profit.

Correct Answer
verified

An electronic storage file where firms keep customer information is known as an) __________.

Correct Answer
verified

Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable.

Correct Answer
verified

Demographic changes create new business opportunities.

Correct Answer
verified

___________ means producing items using the least amount of resources.

Correct Answer
verified

Dee Duction is a financial planner who helps people find ways to save for retirement and lower their taxes.Cee is employed in the service sector of the economy.

Correct Answer
verified

Correct Answer
verified

The social security system,

Correct Answer
verified

Stakeholders include customers,employees,stockholders,suppliers,dealers,bankers,government officials and environmentalists.

Correct Answer
verified

The growth in the service sector in the United States appears to be giving way to an information-based global er A.

Correct Answer
verified

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

To implement a policy of empowerment,the organization will restructure so that:

Correct AnswerverifiedShow Answer

A policy of empowerment encourages managers to make decisions quickly for their front line employees.

Correct AnswerverifiedShow Answer

Often in business the greater the risk,the ____________.

Correct AnswerverifiedShow Answer

Greening refers to:

Correct AnswerverifiedShow Answer

Profits of a business include the salaries paid to its employees.

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

Stakeholders are all the people who stand to gain or lose by the policies and activities of a business.

Correct AnswerverifiedShow Answer

If you were to discuss and analyze the social changes affecting the future of business,which of the following statements should be part of that conversation?

Correct AnswerverifiedShow Answer

The amount of profit or loss earned by a business can be found by subtracting the firm's expenses from its revenues.

Correct AnswerverifiedShow Answer

Globalization:

Correct AnswerverifiedShow Answer

Nonprofit organizations use financial gains to meet stated social or educational goals of the organization rather than personal profit.

Correct AnswerverifiedShow Answer

An electronic storage file where firms keep customer information is known as an) __________.

Correct AnswerverifiedShow Answer

Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable.

Correct AnswerverifiedShow Answer

Demographic changes create new business opportunities.

Correct AnswerverifiedShow Answer

___________ means producing items using the least amount of resources.

Correct AnswerverifiedShow Answer

Dee Duction is a financial planner who helps people find ways to save for retirement and lower their taxes.Cee is employed in the service sector of the economy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The social security system,

Correct AnswerverifiedShow Answer

Stakeholders include customers,employees,stockholders,suppliers,dealers,bankers,government officials and environmentalists.

Correct AnswerverifiedShow Answer

The growth in the service sector in the United States appears to be giving way to an information-based global er A.

Correct AnswerverifiedShow Answer

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