Thinking about the social environment of the United States, which of the following statements is true of diversity?

Ethnic populations offers robust profit potential for firms pursuing them

The main focus was on________during the Production Era, in the early part of the 1900s.

refining the production process and creating greater efficiencies.

is business revenue, minus expenses.

Which of the following is a key element of the U.S. economic environment for businesses?

Legislation that supports enforceable contracts

The American Marketing era of business can be described as "businesses that":

developed brands to help customers understand differences among products

business transactions conducted online, typically via the Internet

Considering factors of production, which of the following statements is true of natural resources?

Most of them must be extracted, purified, or harnessed

The American business, can be described as_________ during the Relationship era?

focused on building long-term relationships with customers

Thinking about the U.S. economic environment, which of the following is a government policy that supports business?

The relatively low federal tax rate

aggressive "pushy" persuasion to separate consumers from their cash

Drenexa Pharmaceuticals is based in the U.S. what impact will the rapidly aging population have on Drenexa Rx?

It will gain profits as the population rapidly ages

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The Only Constant is Change Chp 1 BusMgmt

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Answers

1
A business that strongly focuses on customer satisfaction tends to:
develop new products with less features when competition is tough
have a loyal customer base
believe that the cheapest product represents the best value for customers
be less successful due to poor quality of the products they offer to their
2
Thinking about the social environment of the United States, which of the following statements is true of diversity?
Its growth in a workplace limits innovation and creativity.
The population has become less ethnically diverse in recent years.
Ethnic populations offers robust profit potential for firms pursuing them
Effectively managing it iat work can only become tougher as time goes by
3
The main focus was on________during the Production Era, in the early part of the 1900s.
refining the production process and creating greater efficiencies.
differentiating themselves from their competitors.
customer satisfaction/ long-term relationships with customers.
creating wealth by manipulating prices and exploiting workers.
4
Business-like establishments that employ people & produce goods/services with the goal of contributing to the community
Non-profit
Charities
For Profit
Not for Profit
5
PROFIT..
is the increase in the value of a firm's assets that are not resold.
is the income that a firm receives from its secondary business activities
is the total revenue a business generates, including the cost of salaries
is business revenue, minus expenses.
6
Which of the following is a key element of the U.S. economic environment for businesses?
Protocols that restrict mergers between nonprofits and private businesses
Legislation that supports enforceable contracts
Regulations that decrease corporate accountability
Policies that ensure high federal tax rates for businesses
7
Natural resources, Capital, Human resources, and Entrepreneurship
Aspects of competition
Basics of living
Terms of union
Factors of production
8
The American Marketing era of business can be described as "businesses that":
lost individual ownership as large factories emerged/increase production.
developed brands to help customers understand differences among products
dominated markets ousted competitors/manipulated prices/exploited workers
focused on refining production processes and creating greater efficiencies.
9
E-commerce
production technology that focuses on refining production processes
refers to the trade of goods that have no impact on the environment
the rate at which a firm transforms designed products into actual products
business transactions conducted online, typically via the Internet
10
Considering factors of production, which of the following statements is true of natural resources?
They are created and upgraded by businesses using capital.
Their value tends to decline as demand increases & supply decreases
Most of them must be extracted, purified, or harnessed
They all include agricultural products that are created by planting/tending
11
The American business, can be described as_________ during the Relationship era?
exploiting workers/manipulate prices based on changing gov't regulations
seeking new customers,it is more profitable than keeping existing ones
focused on refining production processes and creating greater efficiencies
focused on building long-term relationships with customers
12
Thinking about the U.S. economic environment, which of the following is a government policy that supports business?
The exemption from trade regulations
The exemption of import duties
The no-taxes policy for new firms
The relatively low federal tax rate
13
_____ is an international trade agreement that has taken bold steps to lower tariffs and promote free trade worldwide.
Greater American Free Trade Protocol
GATT/World Trade Organization
Trans-Atlantic Trading Partnership Agreement
North American Integrative Trade Plan
14
The "Hard Sell" is
businesses focus on contributing to the society rather than on profits
outcome when a business incurs expenses that are greater than its revenue
aggressive "pushy" persuasion to separate consumers from their cash
the relationship between the price of a good and the benefits offered
15
This Factor of Production is physical, intellectual, and creative contributions of people working within an economy
Entrepreneurship
Natural resources
Human resources
Capital
16
During the _____, mass production took hold, huge factories replaced skilled artisan workshops.
Marketing Revolution
Entrepreneurship Era
Industrial Revolution
Relationship Era
17
Drenexa Pharmaceuticals is based in the U.S. what impact will the rapidly aging population have on Drenexa Rx?
It will gain profits as the population rapidly ages
It will face a loss as the population rapidly ages
It will be at a disadvantage as the focus of the government is on the young
It will benefit because it will have access to a larger labor pool
18
Which of the following can be classified as capital?
machines
labor
money
land
19
Which of the following statements is true of millennials?
They did not feel entitled to a great job when they graduated from college.
They were born between 1985-2000
They approached adulthood planning to work for success.
They shaped the Internet.
20
Because of ______,the global environment, has lowered prices & increased quality across virtually every product category
foreign globalization measure
federal sales act
bulk-pack protocol
free-trade

The Only Constant is Change Chp 1 BusMgmt Flashcards | StudBud