Understanding Business – 13th Edition by Nickels & McHugh | Complete Test Bank (Chapters 1–20)

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

,TABLE OF CONTENTS
eh eh eh




CHAPTER 1: Taking Risks and Making Profits within the Dynamic Business Environme
eh eh eh eh eh eh eh eh eh eh eh




nt

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




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




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




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




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




CHAPTER 7: Management and Leadership
eh eh eh eh




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




CHAPTER 9: Production and Operations Management
eh eh eh eh eh




CHAPTER 10: Motivating Employees
eh eh eh




CHAPTER 11: Human Resource Management: Finding and Keeping the Best Employe
eh eh eh eh eh eh eh eh eh eh




es

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




CHAPTER 13: Marketing: Helping Buyers Buy
eh eh eh eh eh




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




CHAPTER 15: Distributing Products
eh eh eh




CHAPTER 16: Using Effective Promotions
eh eh eh eh




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




CHAPTER 18: Financial Management
eh eh eh




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




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

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




Chapter 1 eh




Student name: eh




1) Describe three ways that governments can foster entrepreneurship and enco
eh eh eh eh eh eh eh eh eh




urage the creation of wealth
eh eh eh eh




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




3) Competition among businesses has never been greater. Identify and describe t eh eh eh eh eh eh eh eh eh eh




wo ways that businesses can become more competitive.
eh eh eh eh eh eh eh




4) What is demography? Identify two demographic trends in the United States and
eh eh eh eh eh eh eh eh eh eh eh e




discuss how they will impactUnited States businesses.
h eh eh eh eh eh eh




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




ple and businesses are participating in the green movement. List business opportunitie
eh eh eh eh eh eh eh eh eh eh eh




s that may emerge from this movement.
eh eh eh eh eh eh




6) Trace the evolution of American business. Identify the key trends, and dis
eh eh eh eh eh eh eh eh eh eh eh




cuss the implications these trends have for the future.
eh eh eh eh eh eh eh eh

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



)

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




8) is the amount a business earns after deducting what it spends for sal
eh eh eh eh eh eh eh eh eh eh eh eh




aries and other expenses.
eh eh eh




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

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




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

10) is the chance a business owner will lose the time and money inves
eh eh eh eh eh eh eh eh eh eh eh eh




ted in a business that proves to be unprofitable.
eh eh eh eh eh eh eh eh




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



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



called
eh