Question 1

_________ are business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

Accepted Answer

A)  Stock companies
B)  Nonprofits
C)  Credit unions
D)  Parastatals

Question 2

Which of the following is considered a business?

Accepted Answer

A)  A firm funded by the state that specializes in providing free consultations for at-risk teens
B)  A private charity that donates clothes and notebooks to orphaned kids
C)  An online shopping portal that offers discounted prices on clothes
D)  A federal agency that establishes and enforces environmental regulations

Question 3

How do nonprofit organizations play a critical role in an economy?

Accepted Answer

​Nonprofit organizations play a critical...

Question 4

Too much taxation, an overuse of regulation, and limited choices in the broader business environment are likely to result in:

Accepted Answer

A)  a decrease in entrepreneurial activities.
B)  an increase in the level of personal freedom.
C)  an increase in global trade.
D)  a social crisis.

Question 5

In the context of factors of production, the _________ factor encompasses the physical, intellectual, and creative contributions of everyone who works within an economy.

Accepted Answer

A)  economic
B)  natural resources
C)  capital
D)  human resources

Question 6

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

Accepted Answer

A)  Economic
B)  Technological
C)  Competitive
D)  Social

Question 7

Which of the following is a true statement about profit in a business?

Accepted Answer

A)  It is calculated by subtracting the cost of goods from the sales revenues of a business.
B)  It is the financial reward that comes for starting and running a business.
C)  It is the goodwill that an organization gains while running a business.
D)  It is earned by every business all the time.

Question 8

Identify a true statement about nonprofit organizations.

Accepted Answer

A)  They are usually in the business of financial gain.
B)  They employ people and take in revenue.
C)  They do not produce goods and services.
D)  They are not business-like establishments.

Question 9

Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products.

Accepted Answer

A) True 
 B)False

Question 10

During the_____, businesses began to develop brands to help customers understand the differences among various products.

Accepted Answer

A)  industrial revolution
B)  entrepreneurship era
C)  marketing era
D)  relationship era

Question 11

During the _____, jobs became even more specialized, increasing productivity and lowering costs and prices.

Accepted Answer

A)  entrepreneurship era
B)  production era
C)  marketing era
D)  relationship era

Exam 1: Business Now: Change Is the Only Constant

How do nonprofit organizations play a critical role in an economy?

Correct Answer
verified
Nonprofit organizations play a critical...
View Answer

In the context of factors of production, the _________ factor encompasses the physical, intellectual, and creative contributions of everyone who works within an economy.

Correct Answer
verified

Which of the following is a true statement about profit in a business?

Correct Answer
verified

During the_____, businesses began to develop brands to help customers understand the differences among various products.

Correct Answer
verified

Too much taxation, an overuse of regulation, and limited choices in the broader business environment are likely to result in:

Correct Answer
verified

_________ are business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

Correct Answer
verified

Identify a true statement about nonprofit organizations.

Correct Answer
verified

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

Correct Answer
verified

During the _____, jobs became even more specialized, increasing productivity and lowering costs and prices.

Correct Answer
verified

Which of the following is considered a business?

Correct Answer
verified

Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products.

Correct Answer
verified

Exam 1: Business Now: Change Is the Only Constant

How do nonprofit organizations play a critical role in an economy?

Correct Answerverified​Nonprofit organizations play a critical...View AnswerShow Answer

In the context of factors of production, the _________ factor encompasses the physical, intellectual, and creative contributions of everyone who works within an economy.

Correct AnswerverifiedShow Answer

Which of the following is a true statement about profit in a business?

Correct AnswerverifiedShow Answer

During the_____, businesses began to develop brands to help customers understand the differences among various products.

Correct AnswerverifiedShow Answer

Too much taxation, an overuse of regulation, and limited choices in the broader business environment are likely to result in:

Correct AnswerverifiedShow Answer

_________ are business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

Correct AnswerverifiedShow Answer

Identify a true statement about nonprofit organizations.

Correct AnswerverifiedShow Answer

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

Correct AnswerverifiedShow Answer

During the _____, jobs became even more specialized, increasing productivity and lowering costs and prices.

Correct AnswerverifiedShow Answer

Which of the following is considered a business?

Correct AnswerverifiedShow Answer

Online technology prevents leading-edge companies from offering customized products at prices that are comparable to standardized products.

Correct AnswerverifiedShow Answer

Correct Answer
verified
Nonprofit organizations play a critical...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified