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

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Question 71

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With the emergence of the Internet,Jasmine finds it easy to do all her gift buying online.She takes comfort in the fact that new technologies if installed properly are seldom used in unethical ways. Although technological wonders such as the Internet have improved the way we communicate with customers and friends,problems such as identity theft have surfaced.

A) True
B) False

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verified

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Question 72

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Working as an entrepreneur is the only way to succeed in business.

A) True
B) False

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Question 73

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Zero defects means that there is a company goal of no mistakes in making products.

As a factor of production,the term capital includes:

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

Honesty,integrity,and high ethical standards are essential to a capitalist economic system like the one that operates in the United States.

If they wish to create more wealth,poor nations should focus on policies that increase entrepreneurship and the effective use of knowledge. Poor nations often have plenty of labor and land,as well as access to capital.However,the absence of entrepreneurship and knowledgeable workers seems to be the reason that most poor countries remain poor.

Companies that outsource research and development and design jobs:

An electronic storage file where information is kept is called a CPU.

Often in business the greater the risk,the ___________.

The rise of Internet marketing has become particularly important in doing business in the B2B markets.

_______________ is/are the external and internal circumstances that surround the business.

Last year,Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million.Based on this information,Adventure reported:

Technology can help businesses become more efficient and productive.

When businesses sell to other businesses over the Internet,these transactions are known as:

Historically jobs lost in one sector of the economy have been replaced by increased employment opportunities in other sectors. The history of our nation's economy shows that as jobs were lost in agriculture earlier in the last century;displaced farm workers were often able to find employment in the growing manufacturing sector.More recently,declines in manufacturing employment have been offset by rapid growth in the service sector.The latest growth area for new jobs is in information technology.

Greg is working as a marketing trainee for an online Music CD and video retailer.His boss called a meeting for next week with one thing on the agenda: "Bring with you your ideas about how we can gain a competitive advantage." Greg plans to provide the following response:

Land,sometimes called natural resources,is the most critical factor of production in explaining why some countries are poor while others are rich.

The "pay-as-you-go" Social Security system will ensure that the young people of today will have Social Security benefits in the future when they retire. The pay-as-you-go Social Security system means that today's workers pay for today's retirees.To date this has worked since there are more workers supporting each retiree.However in 2018,less money will be coming into Social Security than will be going out and there will be a shortfall,suggesting that today's young people will not have Social Security benefits in the future.

Allowing today's young people to invest part of their Social Security money in personal savings accounts makes sense since in the future less money will be coming into Social Security than will be going out. Paying Social Security to senior citizens in the future will draw huge amounts of money from the economy.One option to deal with this is to allow young people to invest part of their Social Security money in personal savings accounts.