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

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Question 121

True/False

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Profits of a business include the salaries paid to its employees.

A) True
B) False

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Question 122

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The number of businesses owned by Asians, Hispanics, and American Indians has grown dramatically.

A) True
B) False

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Question 123

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"Insourcing" refers to the practice of global companies setting up design and production facilities in the United States.

The only way a firm can increase its profits is to increase its sales revenue.

Well-managed businesses will grow and prosper regardless of the business environment in which they operate.

Currently people between the ages of 45 and 54 are the richest group in the United States.

The war on terrorism will:

Though it has received a lot of attention, the development of the Internet has had less of an impact on the way businesses operate than many other technological changes.

New welfare rules have made it easier for single parents to remain at home with their young children without being required to seek employment.

Often the needs of a firm's various stakeholders will conflict.

Laura and Tim McNash recently moved to North Carolina on a three-acre home site. They purposefully purchased their home within biking distance to the university where they are both employed, and their bikes each have room for two cloth bags for groceries if they need to purchase food on the way home, although they plan to grow much of their own. Laura and Tim are examples of a growing number of young people who:

St. Claire Hospital is considering a program that would allow some of its workers to use flextime. One group of workers who would probably benefit from flextime is:

In some cities the number of legal and illegal immigrants has caused governments to adapt by changing signs to other languages.

The primary focus of successful firms is designing and producing high quality goods. Advertising is then used to convince consumers to buy their superior products.

To implement a policy of empowerment, the organization will restructure so that:

High tax rates tend to:

Businesses collect information on where people live, what they buy, and how they spend their time.

Which of the statements about demography is most accurate? Demographic studies:

Lamar is a salesperson for Bi-State Direct. He really appreciates the amount of freedom and authority Bi-State gives its sales people in order to better meet the needs of customers. Lamar's experience suggests that Bi-State practices:

An activity which seeks to earn a profit by providing a good or service is known as a(n) :