Chapter 1: Managing Within The Dynamic Business Environment

10 Questions | Total Attempts: 1225

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Chapter 1: Managing Within The Dynamic Business Environment

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