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

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Question 171

Multiple Choice

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People between the ages of 65 and 74 represent:

A) the unemployed generation
B) the single-parent family generation
C) a lucrative market
D) a group that has never contributed to social security

E) A) and B)
F) A) and C)

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Question 172

Multiple Choice

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Retired people will be draining the U.S.economy of wealth.This is due to:

A) The fact that most have smoked all their lives and now are unwilling to pay for healthcare in order to stay alive.
B) The fact there are not enough workers in subsequent generations to support the ongoing drain of older persons into the social security system.
C) Their lack of interest in supporting restaurants,resorts,educational institutions,and service-intensive companies.
D) The fact that they refuse to use current information technology to improve efficiency.

E) A) and D)
F) B) and D)

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Question 173

Multiple Choice

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Tyrell recently noticed that he was receiving several catalogs and direct mail advertisements than he had in the past even though he had not requested any of them.Which of the following best explains why this is happening?

Mini-Case Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest) uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself! -As he explores his options,Sergio notices that some opportunities appear to be riskier than others.When considering various opportunities,Sergio should keep in mind that:

Efficiency in distribution systems around the world has led to:

Technology can help businesses become more efficient and productive.

Entrepreneurship is one of the five factors of production that contribute to the creation of wealth.

According to the Connecting with Small Business box,all of the best business ideas come from highly-refined and complicated ideas.