Chapter 1: Managing Within The Dynamic Business Environment
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It a quiz from chapter one in the Understanding Business text book.
- 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
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