TEST BANK Understanding Business, 13th Edition By William Nickels, Jim McHugh, Chapters 1 – 20  

TEST BANK Understanding Business, 13th
Edition By William Nickels, Jim McHugh,
Chapters 1 – 20

,TABLE OF CONTENTS
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CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environment
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CHAPTER 2: Understanding Economics and How It Affects Business
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CHAPTER 3: Doing Business in Global Markets
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CHAPTER 4: Demanding Ethical and Socially Responsible Behavior
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CHAPTER 5: How to Form a Business
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CHAPTER 6: Entrepreneurship and Starting a Small Business
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CHAPTER 7: Management and Leadership
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CHAPTER 8: Structuring Organizations for Today’s Challenges
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CHAPTER 9: Production and Operations Management
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CHAPTER 10: Motivating Employees
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CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employees
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CHAPTER 12: Dealing with Employee–Management Issues
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CHAPTER 13: Marketing: Helping Buyers Buy
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CHAPTER 14: Developing and Pricing Goods and Services
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CHAPTER 15: Distributing Products
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CHAPTER 16: Using Effective Promotions
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CHAPTER 17: Understanding Accounting and Financial Information
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CHAPTER 18: Financial Management
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CHAPTER 19: Using Securities Markets for Financing and Investing Opportunities
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,CHAPTER 20: Money, Financial Institutions, and the Federal Reserve
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Answers are at the end of Each chapter
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Chapter 1 ny




Student name: ny




1) Describe three ways that governments can foster entrepreneurship and encourage
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the creation of wealth
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2) Describe how businesses can use technology to be more responsive to customers.
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3) Competition among businesses has never been greater. Identify and describe two w
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ays that businesses can become more competitive.
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4) What is demography? Identify two demographic trends in the United States and disc
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uss how they will impactUnited States businesses.
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5) Describe what we mean by greening and thinking green. List five ways that people a
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nd businesses are participating in the green movement. List business opportunities that may
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emerge from this movement.
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6) Trace the evolution of American business. Identify the key trends, and discuss t
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he implications these trends have for the future.
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, 7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
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A) industry.
B) corporation.
C) business.
D) service.




8) is the amount a business earns after deducting what it spends for salaries
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and other expenses.
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A) Profit
B) Revenue
C) Interest
D) Dividends

9) A business incurs a
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A) loss
B) liability
C) debit
D) dividend

10) is the chance a business owner will lose the time and money invested i
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n a business that proves to be unprofitable.
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A) Depreciation
B) Risk
C) Opportunity
D) Redundancy



11) The total amount of money that businesses take in by selling goods and services is calle
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d