Question 1

During the past 150 years,the U.S.has evolved from:

Accepted Answer

A)   An agrarian economy to an information technology economy.
B)   A business to business economy to a business to consumer economy.
C)   An agrarian economy to a manufacturing economy to a service oriented economy.
D)   A manufacturing economy to a service economy,to a cottage economy,and now we are trending back to an agrarian economy.E) C) and D)
F) All of the above

Question 2

An important environmental change in the global environment is the growth of international competition.

Accepted Answer

A) True 
 B)False

Question 3

The total amount of money that businesses take in by selling goods and services is called _______.

Accepted Answer

A)   profit
B)   revenue
C)   loss
D)   retained earningsE) None of the above
F) A) and B)

Question 4

Brett runs a lawn care service.Although he and his employees could service eight households in one day,he averages six yards per crewmember,per day.Brett recently restructured his work crew and provided each cutter with an incentive to acquire two new customers each month through customer referrals.As a recent business graduate,you tell him he's probably on the right track.

Accepted Answer

A) True 
 B)False

Question 5

As emerging technologies become widespread,businesses tend to find better uses for them.However,in the case of the Internet,businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.

Accepted Answer

A) True 
 B)False

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Ntercon is an Internet-based company that provides online support services for businesses that need help in setting up and maintaining their websites.Ntercon is an example of a company that is engaged in:

Accepted Answer

A)   B2C e-commerce.
B)   N2Y e-commerce.
C)   Y2K e-commerce.
D)   B2B e-commerce.E) A) and D)
F) C) and D)

Question 8

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

Accepted Answer

A)   B2C transactions.
B)   e-wholesale transactions.
C)   B2B transactions.
D)   intermediate e-commerce transactions.E) B) and C)
F) A) and D)

Question 9

The U.S.population tends to buy the same things and spend time in roughly the same way as people did a decade ago.

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Traditional businesses have a managerial focus rather than a customer focus.

Accepted Answer

A) True 
 B)False

Question 12

Mark recently graduated with honors from his college.He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future.In evaluating the future of the workplace,Mark is:

Accepted Answer

A)   exactly right.His past performance should carry him to success.
B)   completely wrong.Studies show that a college education has little to do with success.
C)   over confident.Global competition means that continuous learning will be needed in the future to adapt to rapid changes.
D)   probably right.Specialized training today is a key to continued success in the future.E) A) and D)
F) A) and C)

Question 13

Unlike businesses,employees of nonprofit organizations are not required to learn the business skills of information management,marketing,or financial management.

Accepted Answer

A) True 
 B)False

Question 14

Often in business the greater the risk,the ___________.

Accepted Answer

A)   greater the potential reward
B)   lower the expected revenues
C)   lower the value provided to society
D)   greater the number of stakeholdersE) A) and D)
F) B) and D)

Question 15

One advantage of a database is:

Accepted Answer

A)   it permits a retail store to directly gather information on the customers who do business with its competitors,so it can target promotional materials to those people.
B)   it creates efficiency in that the store can quickly replenish items that are purchased.
C)   it prevents identity theft.
D)   it prevents stores from exchanging customer information with each other.E) A) and C)
F) B) and C)

Question 16

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 17

New welfare rules have made it easier for single parents to remain at home with their young children without being required to seek employment.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following best describes recent job growth in the service sector?

Accepted Answer

A)   The service sector has generated almost all new jobs in the American economy since the mid 1980s,but the rate of job growth in services has slowed in recent years.
B)   Jobs in the service sector have increased slowly over the past decade,but most new jobs are created in the manufacturing industries.
C)   Employment in the service sector has declined in recent years,and this decline is expected to continue.
D)   There has been little change in the number of jobs in the service sector in recent years,however employment is expected to increase rapidly.E) B) and D)
F) B) and C)

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions:

Accepted Answer

A)   involve transactions where the buyers and sellers are both businesses,while B2C involves transactions between businesses and consumers.
B)   focus on financial transactions while B2C e-commerce focuses on the sale of manufactured goods.
C)   refer to business between nonprofit organizations while B2C e-commerce is carried out by business firms seeking to earn a profit.
D)   involve sales in foreign markets while B2C e-commerce is restricted to domestic markets.E) None of the above
F) B) and C)

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

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

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

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

Correct Answer
verified

Mark recently graduated with honors from his college.He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future.In evaluating the future of the workplace,Mark is:

Correct Answer
verified

The U.S.population tends to buy the same things and spend time in roughly the same way as people did a decade ago.

Correct Answer
verified

Unlike businesses,employees of nonprofit organizations are not required to learn the business skills of information management,marketing,or financial management.

Correct Answer
verified

An important environmental change in the global environment is the growth of international competition.

Correct Answer
verified

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

Correct Answer
verified

During the past 150 years,the U.S.has evolved from:

Correct Answer
verified

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

Correct Answer
verified

Ntercon is an Internet-based company that provides online support services for businesses that need help in setting up and maintaining their websites.Ntercon is an example of a company that is engaged in:

Correct Answer
verified

Which of the following best describes recent job growth in the service sector?

Correct Answer
verified

The total amount of money that businesses take in by selling goods and services is called _______.

Correct Answer
verified

Often in business the greater the risk,the ___________.

Correct Answer
verified

Correct Answer
verified

One advantage of a database is:

Correct Answer
verified

New welfare rules have made it easier for single parents to remain at home with their young children without being required to seek employment.

Correct Answer
verified

As emerging technologies become widespread,businesses tend to find better uses for them.However,in the case of the Internet,businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.

Correct Answer
verified

Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions:

Correct Answer
verified

Traditional businesses have a managerial focus rather than a customer focus.

Correct Answer
verified

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

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

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

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

Correct AnswerverifiedShow Answer

Mark recently graduated with honors from his college.He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future.In evaluating the future of the workplace,Mark is:

Correct AnswerverifiedShow Answer

The U.S.population tends to buy the same things and spend time in roughly the same way as people did a decade ago.

Correct AnswerverifiedShow Answer

Unlike businesses,employees of nonprofit organizations are not required to learn the business skills of information management,marketing,or financial management.

Correct AnswerverifiedShow Answer

An important environmental change in the global environment is the growth of international competition.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

During the past 150 years,the U.S.has evolved from:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Ntercon is an Internet-based company that provides online support services for businesses that need help in setting up and maintaining their websites.Ntercon is an example of a company that is engaged in:

Correct AnswerverifiedShow Answer

Which of the following best describes recent job growth in the service sector?

Correct AnswerverifiedShow Answer

The total amount of money that businesses take in by selling goods and services is called _______.

Correct AnswerverifiedShow Answer

Often in business the greater the risk,the ___________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One advantage of a database is:

Correct AnswerverifiedShow Answer

New welfare rules have made it easier for single parents to remain at home with their young children without being required to seek employment.

Correct AnswerverifiedShow Answer

As emerging technologies become widespread,businesses tend to find better uses for them.However,in the case of the Internet,businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.

Correct AnswerverifiedShow Answer

Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions:

Correct AnswerverifiedShow Answer

Traditional businesses have a managerial focus rather than a customer focus.

Correct AnswerverifiedShow Answer

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