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SFU Ch. 1 Flashcards | StudBud

Explore/SFU Ch. 1

The standard of living for a nation's people depends mainly on:

Providing frontline employees with responsibility and freedom in the workplace is known as:

SFU Ch. 1

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SFU Ch. 1

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Questions 10

Answers

1
Providing frontline employees with responsibility and freedom in the workplace is known as:
Identity Theft
Demography
Empowerment
Productivity
2
The standard of living for a nation's people depends mainly on:
the quality of the natural environment.
how much political freedom they have.
the amount of labor & capital available
their income & the prices of the goods & services they buy.
3
All of the following are elements of the business environment except:
The entrepreneurship environment
The global business environment
The social environment
The technological environment
4
Which one is NOT a factor of production?
Technology
Labor
Capital
Land
5
When corruption is present in the business environment:
laborers can make more money.
factories are easier to build without a government permit.
it promotes fair competition.
Companies can threaten competitors & reduce competition
6
What makes rich countries rich today is a combination of ____ & _____.
Entrepreneurship & Capital
Knowledge & Entrepreneurship
Land & Labor
Capital & Knowledge
7
A business experiences a ___________ if its costs and expenses exceed its revenues.
loss
liability
debit
dividend
8
Public schools, charities, and government agencies usually:
do not seek to earn a profit.
are incorporated.
provide goods rather than services.
do not have any stakeholders.
9
Pepsi reported revenues of $52 million. Its total expenses were $10 million. Pepsi reported:
Profits of $42 million
Losses of $42 million
Losses of $42 million
Profits of $42 million
10
Starting your own business always involves:
Revenue
Risk
Intelligence
Profit