Question 1

Increases in productivity have allowed fewer farmers to feed more and more people.

Accepted Answer

A) True 
 B)False

Question 2

In rich countries such as the United States, changes in the level of taxation have little impact on the incentives of entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 3

World-class businesses attempt to meet the needs of:

Accepted Answer

A)   their customers, even if it comes at the expense of employees and other stakeholders in the business.
B)   their employees, even if it means shortchanging customers by charging higher prices.
C)   all stakeholders.
D)   exclusively their owners, since they are ultimately the ones who pay the bills.E) A) and B)
F) None of the above

Question 4

Describe how businesses can use technology to be more responsive to customers.

Accepted Answer

Businesses continually search for new te...

Question 5

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

Question 6

It's important that firms are as efficient as possible. This is done by becoming management-driven for efficiency.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A)   economic and legal
B)   competitive
C)   social
D)   technologicalE) A) and D)
F) All of the above

Question 8

Empowerment requires managers to focus more on ________ lower-level employees.

Accepted Answer

A)   directly supervising
B)   training
C)   simplifying the jobs of
D)   controlling and correctingE) A) and B)
F) None of the above

Question 9

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 10

Companies have responded to a diverse customer base by hiring a more diverse workforce.

Accepted Answer

A) True 
 B)False

Question 11

Businesses that cater to older consumers in the future will likely not be successful.

Accepted Answer

A) True 
 B)False

Question 12

A charitable organization, such as the American Red Cross or Salvation Army, is classified as a for-profit organization.

Accepted Answer

A) True 
 B)False

Question 13

Jose earned the same amount of money this year as he did last year. Thus, his standard of living must be the same as it was last year.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

The only real purpose of a business is to make money for entrepreneurs.

Accepted Answer

A) True 
 B)False

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

In rich countries such as the United States, changes in the level of taxation have little impact on the incentives of entrepreneurs.

Correct Answer
verified

The only real purpose of a business is to make money for entrepreneurs.

Correct Answer
verified

It's important that firms are as efficient as possible. This is done by becoming management-driven for efficiency.

Correct Answer
verified

Businesses that cater to older consumers in the future will likely not be successful.

Correct Answer
verified

Jose earned the same amount of money this year as he did last year. Thus, his standard of living must be the same as it was last year.

Correct Answer
verified

World-class businesses attempt to meet the needs of:

Correct Answer
verified

Describe how businesses can use technology to be more responsive to customers.

Correct Answer
verified
Businesses continually search for new te...
View Answer

Increases in productivity have allowed fewer farmers to feed more and more people.

Correct Answer
verified

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

Correct Answer
verified

Empowerment requires managers to focus more on ________ lower-level employees.

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

A charitable organization, such as the American Red Cross or Salvation Army, is classified as a for-profit organization.

Correct Answer
verified

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

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

Companies have responded to a diverse customer base by hiring a more diverse workforce.

Correct Answer
verified

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

In rich countries such as the United States, changes in the level of taxation have little impact on the incentives of entrepreneurs.

Correct AnswerverifiedShow Answer

The only real purpose of a business is to make money for entrepreneurs.

Correct AnswerverifiedShow Answer

It's important that firms are as efficient as possible. This is done by becoming management-driven for efficiency.

Correct AnswerverifiedShow Answer

Businesses that cater to older consumers in the future will likely not be successful.

Correct AnswerverifiedShow Answer

Jose earned the same amount of money this year as he did last year. Thus, his standard of living must be the same as it was last year.

Correct AnswerverifiedShow Answer

World-class businesses attempt to meet the needs of:

Correct AnswerverifiedShow Answer

Describe how businesses can use technology to be more responsive to customers.

Correct AnswerverifiedBusinesses continually search for new te...View AnswerShow Answer

Increases in productivity have allowed fewer farmers to feed more and more people.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Empowerment requires managers to focus more on ________ lower-level employees.

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

A charitable organization, such as the American Red Cross or Salvation Army, is classified as a for-profit organization.

Correct AnswerverifiedShow Answer

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

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

Companies have responded to a diverse customer base by hiring a more diverse workforce.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Businesses continually search for new te...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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