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

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Question 51

Multiple Choice

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The series of lines on a product packaging that the cashier scans when you check out at a grocery store or discount store is called a:

A) bar code.
B) zip code.
C) scan code.
D) laser code.

E) None of the above
F) A) and B)

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Question 52

Multiple Choice

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Which of the following policies would tend to foster entrepreneurship?

A) Minimize taxes and regulations.
B) Promote more regulations to protect the environment.
C) Develop policies to reduce corruption between individuals.
D) Encourage public ownership of businesses.

E) All of the above
F) C) and D)

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Question 53

Multiple Choice

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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?

The business environment refers to the surrounding factors that either help or hinder the development of businesses.

The number of businesses owned by Hispanics and Asians has:

To realize his passion,Alex recently opened Original Tunes,Inc. ,a small state of the art recording studio in Nashville,TN.He probably could have set-up shop in several major cities,but Nashville offered him the two most important factors that he learned in business school would enhance the creation of wealth: labor and political freedom.

Demographic trends suggest that businesses will benefit from offering flexible work schedules,eldercare,and childcare to help employees balance the demands of job and family.

Business decisions should consider the interests of customers,employees,suppliers,government leaders,and stockholders.

An increase in productivity indicates that more can be produced in a given time period with the same amount of resources.

Diversity groups identified in the market today include extroverts,introverts,atheists,and the devout.

Globalization has increased among nations.

Wars are costly to all companies.

Shelby recently started selling her invention: A bed that looks like it floats in mid- air.The bed is actually suspended by magnetic forces.Shelby is an) :

___________ refers to the amount of output generated with a given amount of input,e.g. ,the number of pizzas produced per worker per hour.

Leanne owns a nursery business.The trucks,handcarts,and forklift she purchased for the business are called __________ investments.

__________ is the amount a business earns after deducting what it spends for salaries and other expenses.

Which of the following statements about factors of production is the most accurate?

The Internet and the emergence of an information-based economy are important parts of the ___________ environment in which businesses operate.

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

The number of businesses owned by Asians,Hispanics,and Native Americans has grown dramatically.