,Chapter 1—An Introduction to Business and Economics
ESSAY
1. In your own words, describe what you “bring to the table” as a potential employee of a company that
you desire to work for.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
2. How can online networking improve your chances of success in the business world?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
3. An entrepreneur combines four kinds of resources into a business. What would be the effect on the
business if any one were left out?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Communication
TOP: Business: A Definition
4. What is profit, and why is it important to a business?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Reflective Thinking
TOP: Business: A Definition
5. What three activities must a business perform in order to be successful? Briefly describe each of these
and why each is essential to business success.
ANS:
Answer not provided.
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
, PTS: 1 OBJ: 1-2 NAT: AACSB: Analytic
TOP: Business: A Definition
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
, 6. Explain how the notion of scarcity is related to personal as well as business decision making.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
7. Explain how the basic economic questions are answered in capitalistic and command economies.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
8. Why do we say that the U.S. economy is a mixed economy?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
9. How does socialism differ from communism?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
10. Why is productivity important? How can a nation's productivity rate be improved?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-4 NAT: AACSB: Reflective Thinking
TOP: Measuring Economic Performance
11. What is real gross domestic product, and how does it differ from gross domestic product?
ANS:
Answer not provided.
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
ESSAY
1. In your own words, describe what you “bring to the table” as a potential employee of a company that
you desire to work for.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
2. How can online networking improve your chances of success in the business world?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
3. An entrepreneur combines four kinds of resources into a business. What would be the effect on the
business if any one were left out?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Communication
TOP: Business: A Definition
4. What is profit, and why is it important to a business?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Reflective Thinking
TOP: Business: A Definition
5. What three activities must a business perform in order to be successful? Briefly describe each of these
and why each is essential to business success.
ANS:
Answer not provided.
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
, PTS: 1 OBJ: 1-2 NAT: AACSB: Analytic
TOP: Business: A Definition
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
, 6. Explain how the notion of scarcity is related to personal as well as business decision making.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
7. Explain how the basic economic questions are answered in capitalistic and command economies.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
8. Why do we say that the U.S. economy is a mixed economy?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
9. How does socialism differ from communism?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
10. Why is productivity important? How can a nation's productivity rate be improved?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-4 NAT: AACSB: Reflective Thinking
TOP: Measuring Economic Performance
11. What is real gross domestic product, and how does it differ from gross domestic product?
ANS:
Answer not provided.
© 2013 Cengage Learning. All Rights Reserved. This edition is intended for use outside of the U.S. only, with content that may be different from
the U.S. Edition. May not be scanned, copied, duplicated, or posted to a publicly accessible website, in whole or in part.
