TEST BANK Understanding Business, 13th
Edition By William Nickels, Jim McHugh,
Chapters 1 – 20
,TABLE OF CONTENTS
CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environment
CHAPTER 2: Understanding Economics and How It Affects Business
CHAPTER 3: Doing Business in Global Markets
CHAPTER 4: Demanding Ethical and Socially Responsible Behavior
CHAPTER 5: How to Form a Business
CHAPTER 6: Entrepreneurship and Starting a Small Business
CHAPTER 7: Management and Leadership
CHAPTER 8: Structuring Organizations for Today’s Challenges
CHAPTER 9: Production and Operations Management
CHAPTER 10: Motivating Employees
CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employees
CHAPTER 12: Dealing with Employee–Management Issues
CHAPTER 13: Marketing: Helping Buyers Buy
CHAPTER 14: Developing and Pricing Goods and Services
CHAPTER 15: Distributing Products
CHAPTER 16: Using Effective Promotions
CHAPTER 17: Understanding Accounting and Financial Information
CHAPTER 18: Financial Management
CHAPTER 19: Using Securities Markets for Financing and Investing Opportunities
CHAPTER 20: Money, Financial Institutions, and the Federal Reserve
,Answers are at the end of Each chapter
Chapter 1
Student name:
1) Describe three ways that governments can foster entrepreneurship and encourage
the creation of wealth
2) Describe how businesses can use technology to be more responsive to customers.
3) Competition among businesses has never been greater. Identify and describe two
ways that businesses can become more competitive.
4) What sis sdemography? sIdentify stwo sdemographic strends sin sthe sUnited sStates sand
sdiscuss show sthey swill simpactUnited sStates sbusinesses.
5) Describe swhat swe smean sby sgreening sand sthinking sgreen. sList sfive sways sthat
speople sand sbusinesses sare sparticipating sin sthe sgreen smovement. sList sbusiness
sopportunities sthat smay semerge sfrom sthis smovement.
6) Trace sthe sevolution sof sAmerican sbusiness. sIdentify sthe skey strends, sand
sdiscuss sthe simplications sthese strends shave sfor sthe sfuture.
, 7) An sentity sthat sseeks sto searn sa sprofit sby sproviding sa sgood sor sservice sis sknown sas sa(n)
A) industry.
B) corporation.
C) business.
D) service.
8) is sthe samount sa sbusiness searns safter sdeducting swhat sit sspends sfor
ssalaries sand sother sexpenses.
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A sbusiness sincurs sa s if sits scosts sand sexpenses sexceed sits srevenues.
A) loss
B) liability
C) debit
D) dividend
10) is sthe schance sa sbusiness sowner swill slose sthe stime sand smoney
sinvested sin sa sbusiness sthat sproves sto sbe sunprofitable.
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The stotal samount sof smoney sthat sbusinesses stake sin sby sselling sgoods sand sservices sis
scalled
Edition By William Nickels, Jim McHugh,
Chapters 1 – 20
,TABLE OF CONTENTS
CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environment
CHAPTER 2: Understanding Economics and How It Affects Business
CHAPTER 3: Doing Business in Global Markets
CHAPTER 4: Demanding Ethical and Socially Responsible Behavior
CHAPTER 5: How to Form a Business
CHAPTER 6: Entrepreneurship and Starting a Small Business
CHAPTER 7: Management and Leadership
CHAPTER 8: Structuring Organizations for Today’s Challenges
CHAPTER 9: Production and Operations Management
CHAPTER 10: Motivating Employees
CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employees
CHAPTER 12: Dealing with Employee–Management Issues
CHAPTER 13: Marketing: Helping Buyers Buy
CHAPTER 14: Developing and Pricing Goods and Services
CHAPTER 15: Distributing Products
CHAPTER 16: Using Effective Promotions
CHAPTER 17: Understanding Accounting and Financial Information
CHAPTER 18: Financial Management
CHAPTER 19: Using Securities Markets for Financing and Investing Opportunities
CHAPTER 20: Money, Financial Institutions, and the Federal Reserve
,Answers are at the end of Each chapter
Chapter 1
Student name:
1) Describe three ways that governments can foster entrepreneurship and encourage
the creation of wealth
2) Describe how businesses can use technology to be more responsive to customers.
3) Competition among businesses has never been greater. Identify and describe two
ways that businesses can become more competitive.
4) What sis sdemography? sIdentify stwo sdemographic strends sin sthe sUnited sStates sand
sdiscuss show sthey swill simpactUnited sStates sbusinesses.
5) Describe swhat swe smean sby sgreening sand sthinking sgreen. sList sfive sways sthat
speople sand sbusinesses sare sparticipating sin sthe sgreen smovement. sList sbusiness
sopportunities sthat smay semerge sfrom sthis smovement.
6) Trace sthe sevolution sof sAmerican sbusiness. sIdentify sthe skey strends, sand
sdiscuss sthe simplications sthese strends shave sfor sthe sfuture.
, 7) An sentity sthat sseeks sto searn sa sprofit sby sproviding sa sgood sor sservice sis sknown sas sa(n)
A) industry.
B) corporation.
C) business.
D) service.
8) is sthe samount sa sbusiness searns safter sdeducting swhat sit sspends sfor
ssalaries sand sother sexpenses.
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A sbusiness sincurs sa s if sits scosts sand sexpenses sexceed sits srevenues.
A) loss
B) liability
C) debit
D) dividend
10) is sthe schance sa sbusiness sowner swill slose sthe stime sand smoney
sinvested sin sa sbusiness sthat sproves sto sbe sunprofitable.
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The stotal samount sof smoney sthat sbusinesses stake sin sby sselling sgoods sand sservices sis
scalled
