Quiz: Dynamic Business Environment

10 Questions | By Nksandoval | Updated: Mar 22, 2022 | Attempts: 1980

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Quiz: Dynamic Business Environment - Quiz

It a quiz from chapter one in the Understanding Business text book.

Questions and Answers

1.

A key characteristic of entrepreneurs is that they:
- A.
  
  Are willing to accept the risks involved in starting and managing a business.
- B.
  
  Have a high level of scientific and technical expertise.
- C.
  
  Possess a great deal of personal wealth
- D.
  
  Have experience in running large, complex organizations.
2.

Elizabeth owns a printing business in her home town. The printers, computers, and copying machines represent examples of:
- A.
  
  Natural resources
- B.
  
  Intangible resources
- C.
  
  Current assets
- D.
  
  Capital
3.

Taxes and government regulations are part of the ________ environment of business.
- A.
  
  Economic and legal
- B.
  
  Competitive
- C.
  
  Social
- D.
  
  Technological
4.

_________ is the buying and selling of products and services by businesses and consumers over the Internet.
- A.
  
  E-commerce
- B.
  
  Intrapreneurship
- C.
  
  Telecommuting
- D.
  
  I-commerce
5.

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:
- A.
  
  B2C e-commerce
- B.
  
  N2Y e-commerce
- C.
  
  Y2K e-commerce
- D.
  
  B2B e-commerce
6.

Collectively, the customers, employees, stockholders, suppliers, creditors, and the local communities in which a business operates are known as the firm's:
- A.
  
  Market
- B.
  
  Economic environment
- C.
  
  Stakeholders
- D.
  
  Social dependents
7.

As a salesperson for Bi-State Direct, Jack enjoys the freedom and flexibility he has to better meet the needs of his customers. Jack's experience suggests that Bi-State practices:
- A.
  
  Centralized management
- B.
  
  Outsourcing
- C.
  
  Enfranchisement
- D.
  
  Empowerment
8.

Jill is looking into the possibility of opening up a day care center in her community, because she is aware of many two-income families that need a place for their children to stay while the parents work. However, she is concerned about the long-term prospects for such a business. Jill believes the future of her center will depend on whether birth rates and the number of two-income families remain high. These concerns illustrate how businesses can be affected by:
- A.
  
  Econometric trends
- B.
  
  Demographic trends
- C.
  
  Regulatory trends
- D.
  
  Psychographic trends
9.

More efficient distribution systems around the world have led to:
- A.
  
  Increased world trade
- B.
  
  Decreased world trade
- C.
  
  Decreased international competition
- D.
  
  Reduced standards of living around the world
10.

In recent years, almost all new job creation in the United States has occured in the _____ sector.
- A.
  
  Service
- B.
  
  Manufacturing
- C.
  
  Agricultural
- D.
  
  Telecommunications