Intro to Business EHS
2026 | Study Guide,
Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
,Which of the following best describes the relationship B.A firm survives by producing goods that consumers are willing and able to
between a firm and the consumer in a market economy?A. buy.*****
A firm is only able to exist in competition with other firms in
B. A firm survives by producing goods that consumers are
willing and able to buy.
C .The market may limit the number of firms, and therefore
limit consumer choice
D. The market may limit the number of firms, and therefore
limit consumer choice
Which of the following is considered an example of a B. all of these answers*****
market stakeholder?
A.customers
B. all of these answers
C.creditors
D. suppliers
A measure of the benefit that an economic actor can gain A.economic value*******
from either a good or service is __________.
A.economic value
B.normal profit
C.profit maximization
D.economic profit
IT is changing the basis of business from labor and manual C.knowledge management ***
skills to _________.
A.social media expertise
B.global collaboration
C.knowledge management
D.knowledge of videoconferencing
Effective organization promotes a high level of _______. A.efficiency*****
A.efficiency
B.notoriety
C.profit
D.specialization
According to economist Milton Friedman, the main purpose A.maximize profits for its owners. ***
of a business is to_______.
A.maximize profits for its owners.
B.balance profit-making
objectives with other ends
C.spur innovation
D.benefit society
, How is a stakeholder different than a shareholder? C. A shareholder is an owner of the company, whereas a stakeholder is any
A. A shareholder is an owner or an employee of the individual or group with an interest in the company's operations and / or output.*****
company, whereas a stakeholder is any individual or group
with an interest in the company's operations and / or
output.
B. A shareholder is an owner of the company, whereas a
stakeholder is an employee of the company.
C. A shareholder is an owner of the company, whereas a
stakeholder is any individual or group with an interest in
the company's operations and / or output.
D. A shareholder is an employee of the company, whereas
a stakeholder is an owner of the company.
Stakeholder theorists believe that______. D.people outside of the business enterprise (e.g., consumers) ought to have a say
A. a business is essentially someone's property, and, as in how the business operates****
such, that its owners have the right to dispose of it as they
see fit
B. the enterprise being run by employees and managers
as a kind of representative democracy
C. business can be viewed to exist for the purpose of
creative expansion
D.people outside of the business enterprise (e.g.,
consumers) ought to have a say in how the business
operates
What belief has driven customers, businesses, home D.that the value of their investments would continue to grow****
buyers, and the U.S. government itself to rely increasingly
on debt?
A. that personal income would continue to increase
B. that tax dollars would continue to increase
C. that there would be a low risk of bankruptcy
D.that the value of their investments would continue to
grow
In which of the following areas do nonprofits NOT play a A. stock exchanges*****
role?
A. stock exchanges
B. the arts
C. economic development
D. health and wellness
What technological development has allowed individuals to C. videoconferencing
meet "face-to-face" over the Internet and have discussions
related to a project they are working on together?
A. automation
B."open" movements
C. videoconferencing
D. information technology
2026 | Study Guide,
Practice Questions,
Answers, Rationales &
Exam Review | Complete
Ethics Study Guide
Updated 2026 Questions and Answers
100% Verified Exam Prep and Comprehensive
Rationales
Included
,Which of the following best describes the relationship B.A firm survives by producing goods that consumers are willing and able to
between a firm and the consumer in a market economy?A. buy.*****
A firm is only able to exist in competition with other firms in
B. A firm survives by producing goods that consumers are
willing and able to buy.
C .The market may limit the number of firms, and therefore
limit consumer choice
D. The market may limit the number of firms, and therefore
limit consumer choice
Which of the following is considered an example of a B. all of these answers*****
market stakeholder?
A.customers
B. all of these answers
C.creditors
D. suppliers
A measure of the benefit that an economic actor can gain A.economic value*******
from either a good or service is __________.
A.economic value
B.normal profit
C.profit maximization
D.economic profit
IT is changing the basis of business from labor and manual C.knowledge management ***
skills to _________.
A.social media expertise
B.global collaboration
C.knowledge management
D.knowledge of videoconferencing
Effective organization promotes a high level of _______. A.efficiency*****
A.efficiency
B.notoriety
C.profit
D.specialization
According to economist Milton Friedman, the main purpose A.maximize profits for its owners. ***
of a business is to_______.
A.maximize profits for its owners.
B.balance profit-making
objectives with other ends
C.spur innovation
D.benefit society
, How is a stakeholder different than a shareholder? C. A shareholder is an owner of the company, whereas a stakeholder is any
A. A shareholder is an owner or an employee of the individual or group with an interest in the company's operations and / or output.*****
company, whereas a stakeholder is any individual or group
with an interest in the company's operations and / or
output.
B. A shareholder is an owner of the company, whereas a
stakeholder is an employee of the company.
C. A shareholder is an owner of the company, whereas a
stakeholder is any individual or group with an interest in
the company's operations and / or output.
D. A shareholder is an employee of the company, whereas
a stakeholder is an owner of the company.
Stakeholder theorists believe that______. D.people outside of the business enterprise (e.g., consumers) ought to have a say
A. a business is essentially someone's property, and, as in how the business operates****
such, that its owners have the right to dispose of it as they
see fit
B. the enterprise being run by employees and managers
as a kind of representative democracy
C. business can be viewed to exist for the purpose of
creative expansion
D.people outside of the business enterprise (e.g.,
consumers) ought to have a say in how the business
operates
What belief has driven customers, businesses, home D.that the value of their investments would continue to grow****
buyers, and the U.S. government itself to rely increasingly
on debt?
A. that personal income would continue to increase
B. that tax dollars would continue to increase
C. that there would be a low risk of bankruptcy
D.that the value of their investments would continue to
grow
In which of the following areas do nonprofits NOT play a A. stock exchanges*****
role?
A. stock exchanges
B. the arts
C. economic development
D. health and wellness
What technological development has allowed individuals to C. videoconferencing
meet "face-to-face" over the Internet and have discussions
related to a project they are working on together?
A. automation
B."open" movements
C. videoconferencing
D. information technology
