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

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Question 101

Multiple Choice

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The green movement is:

A) a trend that started with the U.S.government.
B) concerned with depletion of natural resources and leaving a large carbon footprint.
C) developing more green food products to feed the world's poor.
D) our concern with the fact that everywhere we look,things are remaining green for longer periods of time.

E) A) and C)
F) C) and D)

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Question 102

True/False

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Maya is an engineer for Windy Ridge,Inc.a maker of wind turbines.Recently,a large company has shown interest in investing in this small operation.This is not surprising since firms that are creating products for alternative sources of energy are attracting the attention of governments and other businesses.

A) True
B) False

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Question 103

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Producing a high quality product will ensure success in the competitive environment.

Two factors of production that seem to contribute the most to a nation's ability to create wealth are:

Lucy owns a restaurant in Los Angeles.She heard on the radio that the homeland security threat level has been increased due to anticipated terrorist activities,especially in large cities in the U.S.She will likely not be able to get insurance to cover any losses her business may suffer should an attack occur in L. A.

The most important difference between for-profit businesses and nonprofit organizations is that:

Carlos Gonzalez owns a small manufacturing company that makes ventilation systems used in the construction of office buildings.As the U.S.continues to be involved in wars around the globe,Carlos may notice that his business will be growing more slowly in the future as more money continues to be put into the war effort.

The only way a firm can increase its profits is to increase its sales revenue.

Due to population shifts,

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:

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.

Outsourcing means selling goods and services to people in other countries.

Tools,machinery,and buildings are examples of capital resources.

Outsourcing has caused many complications in many states where jobs have been lost to overseas companies.

The number of U.S.jobs in manufacturing has increased in the past five years.

Businesses seek to earn a profit by providing goods and services to others.

Which of the following government policies would be least likely to encourage entrepreneurship?

Social entrepreneurs are people who start and manage organizations that are not-for-profit.Their mission is to help others improve their quality of life.

Successful firms follow a customer-driven strategy,as opposed to the management-driven strategy used in the past.

Revenue is the total amount of money a business takes in during a given period by selling goods and services.