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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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Businesses and nonprofit organizations often strive to accomplish the same objectives.

A) True
B) False

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Question 162

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World trade has both benefits and costs. Which of the following statements best attests to this fact?

A) The U.S. economy and all businesses that participate in this economy were negatively impacted by recent wars.
B) The standard of living for citizens in developing nations has significantly decreased due to globalization.
C) Economists are convinced that global job creation will never occur if our politicians support world trade.
D) Large companies and small companies agree that the green movement is a global issue. Firms are embracing opportunities to bring value to consumers by creating green products and services.

E) A) and C)
F) B) and C)

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Question 163

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The government of Willopolis is trying to attain a higher quality of life by imposing strict regulations to protect the environment and ensure safe working conditions in its industries. The government also has established programs to help the poor, financing them by raising tax rates. These efforts by Willopolis's government should create an atmosphere that encourages entrepreneurship.

Technological innovation has a ripple effect. Kevin, a certified tech-nerd, is being courted by companies to write the next generation of antivirus software. Kevin should take this job because it will provide future opportunities for him.

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

What is demography? Identify two demographic trends in the United States and discuss how they will impact U.S. businesses.

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

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

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

Companies that participate in the defense industry by making weapons and other companies that make armored vehicles and even food companies do well when the U.S. is at war.

In most industries, the only producers that pose a serious threat to U.S. manufacturers are those in Japan and Western Europe.

A business incurs a ________ if its costs and expenses exceed its revenues.

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

In order to make an intelligent investment decision, entrepreneurs should:

The current Social Security system will ensure that the young people of today will have Social Security benefits in the future when they retire.