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

TESTBANKUnderstandingBusiness,13th
m m m m




EditionByWilliamNickels,JimMcHugh,
m m m m m m




m Chapters1–20
m m m

,TABLE OF CONTENTS
m m m




CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environment
m m m m m m m m m m m




CHAPTER 2: Understanding Economics and How It Affects Business
m m m m m m m m




CHAPTER 3: Doing Business in Global Markets
m m m m m m




CHAPTER 4: Demanding Ethical and Socially Responsible Behavior
m m m m m m m




CHAPTER 5: How to Form a Business
m m m m m m m




CHAPTER 6: Entrepreneurship and Starting a Small Business
m m m m m m m




CHAPTER 7: Management and Leadership
m m m m




CHAPTER 8: Structuring Organizations for Today’s Challenges
m m m m m m




CHAPTER 9: Production and Operations Management
m m m m m




CHAPTER 10: Motivating Employees
m m m




CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employees
m m m m m m m m m m




CHAPTER 12: Dealing with Employee–Management Issues
m m m m m




CHAPTER 13: Marketing: Helping Buyers Buy
m m m m m




CHAPTER 14: Developing and Pricing Goods and Services
m m m m m m m




CHAPTER 15: Distributing Products
m m m




CHAPTER 16: Using Effective Promotions
m m m m




CHAPTER 17: Understanding Accounting and Financial Information
m m m m m m




CHAPTER 18: Financial Management
m m m




CHAPTER 19: Using Securities Markets for Financing and Investing Opportunities
m m m m m m m m m




CHAPTER 20: Money, Financial Institutions, and the Federal Reserve
m m m m m m m m

, Answers are at the end of Each chapter
m m m m m m m m




Chapter 1 m




Studentname: m




1) Describethree ways that governments can foster entrepreneurship and encourage the
m m m m m m m m m m




creation of wealth
m m m




2) Describe how businesses can use technology to be more responsive to customers.
m m m m m m m m m m m




3) Competition among businesses has never been greater. Identifyand describe two ways
m m m m m m m m m m m




that businesses can become more competitive.
m m m m m m




4) What is demography? Identifytwo demographic trends in the United States and discuss
m m m m m m m m m m m m




how they will impactUnited States businesses.
m m m m m m




5) Describe what we mean by greening and thinking green. List five ways that people and
m m m m m m m m m m m m m m




businesses are participating in the green movement. List business opportunities that may emerge
m m m m m m m m m m m m m




from this movement.
m m m




6) Trace the evolution of American business. Identify the key trends, and discuss the
m m m m m m m m m m m m




implications these trends have for the future.
m m m m m m m

, 7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
m m m m m m m m m m m m m m m m m




A) industry.
B) corporation.
C) business.
D) service.




8) is the amount a business earns after deducting what it spends for salaries and
m m m m m m m m m m m m m




other expenses.
m m




A) Profit
B) Revenue
C) Interest
D) Dividends

9) A business incurs a
m m m m if its costs and expenses exceed its revenues.
m m m m m m m




A) loss
B) liability
C) debit
D) dividend

10) is the chance a business owner will lose the time and money invested in a
m m m m m m m m m m m m m m




business that proves to be unprofitable.
m m m m m m




A) Depreciation
B) Risk
C) Opportunity
D) Redundancy



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