,TEST BANK FOR cm cm
Understanding Business, 13th Edition, William Nickels Ch cm cm cm cm cm cm
apter 1- cm
20 Answers are at the end of Each chapter Chapter 1
cm cm cm cm cm cm cm cm cm cm
Student name: cm
1) Describe three ways that governments can foster entrepreneurship and encourage
cm cm cm cm cm cm cm cm cm cm
the creation of wealth
cm cm cm
2) Describe how businesses can use technology to be more responsive to customers.
cm cm cm cm cm cm cm cm cm cm cm
3) Competition among businesses has never been greater. Identify and describe two
cm cm cm cm cm cm cm cm cm cm cm
ways that businesses can become more competitive.
cm cm cm cm cm cm
4) What is demography? Identify two demographic trends in the United States and dis
cm cm cm cm cm cm cm cm cm cm cm cm
cuss how they will impactUnited States businesses.
cm cm cm cm cm cm
5) Describe what we mean by greening and thinking green. List five ways that people
cm cm cm cm cm cm cm cm cm cm cm cm cm c
mand businesses are participating in the green movement. List business opportunities that ma
cm cm cm cm cm cm cm cm cm cm cm cm
y emerge from this movement.
cm cm cm cm
6) Trace the evolution of American business. Identify the key trends, and discuss
cm cm cm cm cm cm cm cm cm cm cm
the implications these trends have for the future.
cm cm cm cm cm cm cm cm
,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries
cm cm cm cm cm cm cm cm cm cm cm cm
and other expenses.
cm cm cm
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
cm cm cm cm if its costs and expenses exceed its revenues.
cm cm cm cm cm cm cm
A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money invested
cm cm cm cm cm cm cm cm cm cm cm cm
in a business that proves to be unprofitable.
cm cm cm cm cm cm cm cm
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
cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm
d
, A) profit.
B) revenue.
C) loss.
D) retained earnings. cm
12) A(n) cm is a person who assumes the risk of starting a business.
cm cm cm cm cm cm cm cm cm cm
A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
cm cm cm cm
A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
cm cm cm cm cm cm cm
A) greater the potential reward.
cm cm cm
B) lower the expected revenues.
cm cm cm
C) lower the value provided to society.
cm cm cm cm cm
D) greater the number of stakeholders.
cm cm cm cm
15) is a measure of the general well-
cm cm cm cm cm cm
being and satisfaction derived from a variety of factors including political freedom, s
cm cm cm cm cm cm cm cm cm cm cm cm
afety, education, and a clean environment.
cm cm cm cm cm
A) Standard of living cm cm
B) Quality of life cm cm
C) Gross national income
cm cm
D) Social satisfaction
cm
Understanding Business, 13th Edition, William Nickels Ch cm cm cm cm cm cm
apter 1- cm
20 Answers are at the end of Each chapter Chapter 1
cm cm cm cm cm cm cm cm cm cm
Student name: cm
1) Describe three ways that governments can foster entrepreneurship and encourage
cm cm cm cm cm cm cm cm cm cm
the creation of wealth
cm cm cm
2) Describe how businesses can use technology to be more responsive to customers.
cm cm cm cm cm cm cm cm cm cm cm
3) Competition among businesses has never been greater. Identify and describe two
cm cm cm cm cm cm cm cm cm cm cm
ways that businesses can become more competitive.
cm cm cm cm cm cm
4) What is demography? Identify two demographic trends in the United States and dis
cm cm cm cm cm cm cm cm cm cm cm cm
cuss how they will impactUnited States businesses.
cm cm cm cm cm cm
5) Describe what we mean by greening and thinking green. List five ways that people
cm cm cm cm cm cm cm cm cm cm cm cm cm c
mand businesses are participating in the green movement. List business opportunities that ma
cm cm cm cm cm cm cm cm cm cm cm cm
y emerge from this movement.
cm cm cm cm
6) Trace the evolution of American business. Identify the key trends, and discuss
cm cm cm cm cm cm cm cm cm cm cm
the implications these trends have for the future.
cm cm cm cm cm cm cm cm
,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries
cm cm cm cm cm cm cm cm cm cm cm cm
and other expenses.
cm cm cm
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
cm cm cm cm if its costs and expenses exceed its revenues.
cm cm cm cm cm cm cm
A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money invested
cm cm cm cm cm cm cm cm cm cm cm cm
in a business that proves to be unprofitable.
cm cm cm cm cm cm cm cm
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
cm cm cm cm cm cm cm cm cm cm cm cm cm cm cm
d
, A) profit.
B) revenue.
C) loss.
D) retained earnings. cm
12) A(n) cm is a person who assumes the risk of starting a business.
cm cm cm cm cm cm cm cm cm cm
A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
cm cm cm cm
A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
cm cm cm cm cm cm cm
A) greater the potential reward.
cm cm cm
B) lower the expected revenues.
cm cm cm
C) lower the value provided to society.
cm cm cm cm cm
D) greater the number of stakeholders.
cm cm cm cm
15) is a measure of the general well-
cm cm cm cm cm cm
being and satisfaction derived from a variety of factors including political freedom, s
cm cm cm cm cm cm cm cm cm cm cm cm
afety, education, and a clean environment.
cm cm cm cm cm
A) Standard of living cm cm
B) Quality of life cm cm
C) Gross national income
cm cm
D) Social satisfaction
cm
