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

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

Legislation that supports enforceable contracts

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

focused on building long-term relationships with customers

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

developed brands to help customers understand differences among products

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

The relatively low federal tax rate

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

Most of them must be extracted, purified, or harnessed

aggressive "pushy" persuasion to separate consumers from their cash

is business revenue, minus expenses.

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

refining the production process and creating greater efficiencies.

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

business transactions conducted online, typically via the Internet

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The Only Constant is Change Chp 1 BusMgmt

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Answers

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

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