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

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Question 161

True/False

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

A) True
B) False

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Question 162

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Technology refers to everything that makes business operations more effective,efficient,and productive.

A) True
B) False

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Question 163

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For-profit businesses and nonprofit organizations are similar in that they both:

The B2B Internet market consists of selling goods and services to consumers.

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:

Almost all of the growth in employment opportunities since the mid-1980s has been generated by the service sector.

Taxes and government regulations are part of the ________________ environment of business.

Trace the evolution of American business.Identify the key trends,and discuss the implications these trends have for the future.

Technology affects people in:

Over many years the nature of U.S.business has changed very little from century to century.

__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable.

China and India have become major U.S.competitors.

As a factor of production,the term capital includes:

Jill is looking into the possibility of opening up a day care center in her community,because she is aware of many single-parent families that need a place for their children to stay while the parents work.She is concerned about the long-term prospects for such a business.Jill believes the future of her center will depend on whether birth rates and the number of single-parent families remain high.These concerns illustrate how businesses can be affected by:

In today's competitive environment,good value means:

Effectiveness means producing goods and services using the least amount of resources.

Starting a business is a riskier path toward business success than working your way up the ranks of a large business.

In some cities the number of legal and illegal immigrants has caused governments to adapt by changing signs to other languages.

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.

Since businesses strive to earn a profit,their owners benefit at the expense of the rest of society.