,
,Understanding Business, 13th Edition, William Nickels Ch qy qy qy qy qy qy
apter 1- qy
20 Answers are at the end of Each chapter Chapter 1
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Student name: qy
1) Describe three ways that governments can foster entrepreneurship and encourage t
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he creation of wealth
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2) Describe how businesses can use technology to be more responsive to customers.
qy qy qy qy qy qy qy qy qy qy qy
3) Competition among businesses has never been greater. Identify and describe two wa
qy qy qy qy qy qy qy qy qy qy qy
ys that businesses can become more competitive.
qy qy qy qy qy qy
4) What is demography? Identify two demographic trends in the United States and discu
qy qy qy qy qy qy qy qy qy qy qy qy
ss how they will impactUnited States businesses.
qy qy qy qy qy qy
5) Describe what we mean by greening and thinking green. List five ways that people an
qy qy qy qy qy qy qy qy qy qy qy qy qy qy
d businesses are participating in the green movement. List business opportunities that may em
qy qy qy qy qy qy qy qy qy qy qy qy qy
erge from this movement.
qy qy qy
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)
qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries a
qy qy qy qy qy qy qy qy qy qy qy qy qy
nd other expenses.
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A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
qy qy qy qy if its costs and expenses exceed its revenues.
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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
qy qy qy qy qy qy qy qy qy qy qy qy qy
n a business that proves to be unprofitable.
qy qy qy qy qy qy qy
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
qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy
,Understanding Business, 13th Edition, William Nickels Ch qy qy qy qy qy qy
apter 1- qy
20 Answers are at the end of Each chapter Chapter 1
qy qy qy qy qy qy qy qy qy qy
Student name: qy
1) Describe three ways that governments can foster entrepreneurship and encourage t
qy qy qy qy qy qy qy qy qy qy
he creation of wealth
qy qy qy
2) Describe how businesses can use technology to be more responsive to customers.
qy qy qy qy qy qy qy qy qy qy qy
3) Competition among businesses has never been greater. Identify and describe two wa
qy qy qy qy qy qy qy qy qy qy qy
ys that businesses can become more competitive.
qy qy qy qy qy qy
4) What is demography? Identify two demographic trends in the United States and discu
qy qy qy qy qy qy qy qy qy qy qy qy
ss how they will impactUnited States businesses.
qy qy qy qy qy qy
5) Describe what we mean by greening and thinking green. List five ways that people an
qy qy qy qy qy qy qy qy qy qy qy qy qy qy
d businesses are participating in the green movement. List business opportunities that may em
qy qy qy qy qy qy qy qy qy qy qy qy qy
erge from this movement.
qy qy qy
6) Trace the evolution of American business. Identify the key trends, and discuss t
qy qy qy qy qy qy qy qy qy qy qy qy
he implications these trends have for the future.
qy qy qy qy qy qy qy
, 7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy qy
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries a
qy qy qy qy qy qy qy qy qy qy qy qy qy
nd other expenses.
qy qy
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
qy qy qy qy if its costs and expenses exceed its revenues.
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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
qy qy qy qy qy qy qy qy qy qy qy qy qy
n a business that proves to be unprofitable.
qy qy qy qy qy qy qy
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
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