Test bank For Business Foundations A Changing World 13 edition By O. C. Ferrell, Geoffrey Hirt and Linda Ferrell Test bank

Test bank For Business Foun
World 13 edition By O. C. Ferr
Linda Ferrell Te

,Student name:__________
1) When you pay for your clothes to be dry cleaned or to receive a massage at the spa, you are
not receiving a product in return for your purchase.
⊚ true
⊚ false

Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Apply
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-01 Define basic concepts such as business, product, profit, and economics.
Topic : Classification of Products
Source : Chapter 01 Test Bank > TF Qu. 01 When you take your clothes to the dry cleane...



2) The issuance of stocks and bonds is a marketing activity for a company.
⊚ true
⊚ false

Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Identify the main participants and activities of business.
Topic : Skills Needed to be Successful in Business
Source : Chapter 01 Test Bank > TF Qu. 02 The issuance of stocks and bonds is a...




Version 1 1

,3) The focus of all marketing activities is the successful transformation of resources into goods
and services.
⊚ true
⊚ false

Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Identify the main participants and activities of business.
Topic : Skills Needed to be Successful in Business
Source : Chapter 01 Test Bank > TF Qu. 03 The focus of all marketing activities...



4) Learning about business can help you become a well-informed consumer and member of
society.
⊚ true
⊚ false

Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Apply
Difficulty : 2 Medium
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-03 Explain why studying business is important.
Topic : Skills Needed to be Successful in Business
Source : Chapter 01 Test Bank > TF Qu. 04 Learning about business can help...




Version 1 2

, 5) All economic systems must address three important issues, one of which is how the goods
and services will be produced.
⊚ true
⊚ false

Question Details
AACSB : Analytical Thinking
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Remember
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-04 Compare the four types of economic systems.
Topic : Economics and the Types of Economic Systems
Source : Chapter 01 Test Bank > TF Qu. 05 All economic systems must address...



6) Countries such as China and Russia have used state capitalism to advance the economy.
⊚ true
⊚ false

Question Details
AACSB : Knowledge Application
Accessibility : Keyboard Navigation
Accessibility : Screen Reader Compatible
Bloom's : Apply
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-04 Compare the four types of economic systems.
Topic : Economics and the Types of Economic Systems
Source : Chapter 01 Test Bank > TF Qu. 06 Countries such as China and Russia...




Version 1 3