What is the Standard of Living?

the amount of goods/services people can buy with their money

The new era of business will:

be an information-based global revolution

the funds available after expenses and salaries are paid

When developing and maintaining good stakeholder relationships, companies find that they..

must balance needs of the stakeholders w/need to make profit

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Chapter 1: Taking Risks and Making Profits within the Dynamic Business Environment

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Questions 15

Answers

1
What is the Standard of Living?
the amount of goods/services people can buy with their money
the amount of service people can give
the amount of good/service people can sell with their money
the standard way people live
2
What does a nonprofit organization's goals not include?
making a personal profit
making products
making money
making you waste your time by reading this longer answer
3
Which is not a factor of production?
money
knowledge
entrepreneurship
capital
4
The new era of business will:
probably see a major decline in productivity
be dominated by an increase in the manufacturing sector
be an information-based global revolution
see a rise in the agricultural sector
5
The number of businesses owned by immigrants, minority groups, and women has...in recent years
stabilized
dramatically decreased
grown
declined
6
Since the mid-1980s, the...sector has generated the most increases in employment
agricultural
goods producing
manufacturing
service
7
Profits equal...
the funds available after expenses and salaries are paid
the owner’s annual salary
the sales dollars that a business acquires, over time
revenues plus expenses, less taxes
8
One of the serious negative results of the increased use of databases by companies has been
an increase in identity theft
a decrease in the amount of junk mail received by consumers
changes in the structures of companies leading to job loss
increased failure rates by e-companies
9
When developing and maintaining good stakeholder relationships, companies find that they..
insourcing is always a good trade-off to outsourcing
must balance needs of the stakeholders w/need to make profit
it’s almost always best to continue to keep costs low
caring for nature comes before the well-being of employees
10
What is demography not normally regarding?
income
gender
height
density
11
Which business environment element does not hinder the development of businesses?
the social environment
the technological environment
the intellectual environment
the competitive environment
12
Which of the following is not a stakeholder?
Retailers
Stockholders
E-commerce
Media
13
What is the amount of output you generate given the amount of input?
efficiency
productivity
dedication
effort
14
How many factors of production are there?
Four
Five
Two
Eight
15
Today, high-paying service-sector jobs in the U.S. can be found in...
the automobile
pawn shops
accounting
farming

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