Question 1

Which of the following predictions about the impact of e-commerce on traditional businesses is likely to be most accurate?

Accepted Answer

A)  E-commerce will have little impact on most traditional businesses,because only a few types of products can be sold effectively over the Internet.
B)  Traditional brick-and-mortar firms will enter the e-commerce market by creating their own web sites.
C)  E-commerce will prove to be very successful in competing against traditional firms in B2C markets,but will have much less success in B2B markets.
D)  Brick-and-mortar businesses will cease to exist within twenty years.E) C) and D)
F) B) and D)

Question 2

St.Claire Hospital is considering a program that would allow some of its workers to use flextime.One group of workers who would probably benefit from flextime is:

Accepted Answer

A)  Workers who do not have access to computers at home.
B)  Workers who have little self-motivation to work eight-hour days.
C)  Front-line workers who frequently go out to meet with home furnishing designers.
D)  Single-parent families.E) B) and D)
F) All of the above

Question 3

Diversity management would not be an issue if firms would treat all of their employees the same.

Accepted Answer

A) True 
 B)False

Question 4

Laws that allow companies to write enforceable contracts decrease the risk of doing business.

Accepted Answer

A) True 
 B)False

Question 5

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

Accepted Answer

Businesses continually search for new te...

Question 6

Profit is the amount of money a business earns above and beyond what it spends for salaries and other expenses.

Accepted Answer

A) True 
 B)False

Question 7

There is less risk involved in starting an e-commerce only business than there is in trying to add e-commerce to a traditional bricks-and-mortar)store.

Accepted Answer

A) True 
 B)False

Question 8

Adam Ripley sells custom bicycles.Adam buys several bike parts including wheels and tires from the Good Treads Company.Although several government-supported regulations help Adam in his business,regulations that make it easy for Adam's business to enjoy good vendor relationships are:

Accepted Answer

A)  lower taxes that business to business customers pay to each other.
B)  laws that permit minimal corruption in banking institutions.
C)  laws that permit small businesses to use the government as an intermediary when doing business with other small businesses.
D)  laws that support enforceable contracts between firms.E) A) and D)
F) A) and C)

Question 9

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Accepted Answer

A) True 
 B)False

Question 10

Niki has joined with several other investors to form a new company that sells foot care products to consumers over the Internet.Niki has invested in a B2C e-commerce company.

Accepted Answer

A) True 
 B)False

Question 11

Taxes and government regulations are part of the economic and legal environment in which businesses operate.

Accepted Answer

A) True 
 B)False

Question 12

Paid vacations and health care insurance are among the benefits provided by the government to entrepreneurs.

Accepted Answer

A) True 
 B)False

Question 13

The war on terrorism will:

Accepted Answer

A)  improve the confidence level of most consumers.
B)  hurt the profitability of every business operating in the U.S.
C)  help some businesses and hurt others.
D)  stabilize the business sector.E) C) and D)
F) None of the above

Question 14

Nolivia is a small and poor nation,but its current president has a genuine desire to create more wealth for Nolivia citizens.The president has received recommendations from several of her advisors.Which of the following recommendations is likely to create the most wealth for Nolivia?

Accepted Answer

A)  Acquire more land by invading a neighboring country that is even poorer and weaker than Nolivia.
B)  Use foreign aid from other nations to purchase more tools and machinery.
C)  Establish a business environment that promotes and rewards entrepreneurship.
D)  Establish barriers to trade to protect Nolivia businesses from foreign competition.E) A) and D)
F) A) and C)

Question 15

The global environment,

Accepted Answer

A)  is a new frontier.
B)  is far reaching and affects all the other business environments.
C)  is shrinking.
D)  has not affected the United States due to its strong gross domestic product.E) A) and C)
F) None of the above

Question 16

Which of the following industries will benefit from an aging population?

Accepted Answer

A)  Financial services to help clients plan for their education
B)  Home health care businesses
C)  Children's day-care centers
D)  Auto industryE) B) and C)
F) A) and C)

Question 17

Revenue is the amount a business earns above and beyond what it spends for expenses and costs.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is a factor of production?

Accepted Answer

A)  bonds
B)  money
C)  knowledge
D)  serviceE) B) and C)
F) A) and B)

Question 19

There are more high-paying jobs in the service sector than in the goods-producing sector.

Accepted Answer

A) True 
 B)False

Question 20

Jenna Leigh is an information savvy,20-something person who is trying to select between two marketing job offers.She can either join a company that makes small hammers and screwdrivers for the do-it-yourself hardware store business,or she can join a company developing the fourth generation cell phone service.She is quite impressed that the hardware business is growing quite nicely in China,Mexico,and India where people are starting to expand their living spaces.She is also aware of:

Accepted Answer

A)  Declines in the telecommunications business now that new cell phone service companies are springing-up everywhere.
B)  A decline in the domestic hardware market due to older Americans losing interest in keeping up their living quarters.
C)  An information-based global revolution that might make her career at a telecommunications company more lucrative in the long run.
D)  An increase in the price of the actual cell phones must indicate that there is still a great demand for phones.E) A) and D)
F) B) and D)

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

Nolivia is a small and poor nation,but its current president has a genuine desire to create more wealth for Nolivia citizens.The president has received recommendations from several of her advisors.Which of the following recommendations is likely to create the most wealth for Nolivia?

Correct Answer
verified

There are more high-paying jobs in the service sector than in the goods-producing sector.

Correct Answer
verified

Paid vacations and health care insurance are among the benefits provided by the government to entrepreneurs.

Correct Answer
verified

Correct Answer
verified

Which of the following predictions about the impact of e-commerce on traditional businesses is likely to be most accurate?

Correct Answer
verified

Which of the following industries will benefit from an aging population?

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

The global environment,

Correct Answer
verified

Niki has joined with several other investors to form a new company that sells foot care products to consumers over the Internet.Niki has invested in a B2C e-commerce company.

Correct Answer
verified

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Correct Answer
verified

Taxes and government regulations are part of the economic and legal environment in which businesses operate.

Correct Answer
verified

There is less risk involved in starting an e-commerce only business than there is in trying to add e-commerce to a traditional bricks-and-mortar)store.

Correct Answer
verified

The war on terrorism will:

Correct Answer
verified

Which of the following is a factor of production?

Correct Answer
verified

St.Claire Hospital is considering a program that would allow some of its workers to use flextime.One group of workers who would probably benefit from flextime is:

Correct Answer
verified

Diversity management would not be an issue if firms would treat all of their employees the same.

Correct Answer
verified

Profit is the amount of money a business earns above and beyond what it spends for salaries and other expenses.

Correct Answer
verified

Adam Ripley sells custom bicycles.Adam buys several bike parts including wheels and tires from the Good Treads Company.Although several government-supported regulations help Adam in his business,regulations that make it easy for Adam's business to enjoy good vendor relationships are:

Correct Answer
verified

Laws that allow companies to write enforceable contracts decrease the risk of doing business.

Correct Answer
verified

Revenue is the amount a business earns above and beyond what it spends for expenses and costs.

Correct Answer
verified

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

Nolivia is a small and poor nation,but its current president has a genuine desire to create more wealth for Nolivia citizens.The president has received recommendations from several of her advisors.Which of the following recommendations is likely to create the most wealth for Nolivia?

Correct AnswerverifiedShow Answer

There are more high-paying jobs in the service sector than in the goods-producing sector.

Correct AnswerverifiedShow Answer

Paid vacations and health care insurance are among the benefits provided by the government to entrepreneurs.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following predictions about the impact of e-commerce on traditional businesses is likely to be most accurate?

Correct AnswerverifiedShow Answer

Which of the following industries will benefit from an aging population?

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

The global environment,

Correct AnswerverifiedShow Answer

Niki has joined with several other investors to form a new company that sells foot care products to consumers over the Internet.Niki has invested in a B2C e-commerce company.

Correct AnswerverifiedShow Answer

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

Correct AnswerverifiedShow Answer

Taxes and government regulations are part of the economic and legal environment in which businesses operate.

Correct AnswerverifiedShow Answer

There is less risk involved in starting an e-commerce only business than there is in trying to add e-commerce to a traditional bricks-and-mortar)store.

Correct AnswerverifiedShow Answer

The war on terrorism will:

Correct AnswerverifiedShow Answer

Which of the following is a factor of production?

Correct AnswerverifiedShow Answer

St.Claire Hospital is considering a program that would allow some of its workers to use flextime.One group of workers who would probably benefit from flextime is:

Correct AnswerverifiedShow Answer

Diversity management would not be an issue if firms would treat all of their employees the same.

Correct AnswerverifiedShow Answer

Profit is the amount of money a business earns above and beyond what it spends for salaries and other expenses.

Correct AnswerverifiedShow Answer

Adam Ripley sells custom bicycles.Adam buys several bike parts including wheels and tires from the Good Treads Company.Although several government-supported regulations help Adam in his business,regulations that make it easy for Adam's business to enjoy good vendor relationships are:

Correct AnswerverifiedShow Answer

Laws that allow companies to write enforceable contracts decrease the risk of doing business.

Correct AnswerverifiedShow Answer

Revenue is the amount a business earns above and beyond what it spends for expenses and costs.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
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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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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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