TEST BANK
Business Essentials
Ronald J. Ebert, Ricky W. Griffin
ST
────────────────────────────────────────────────────
14th Edition
UV
IA
?_
AP
PR
TEST BANK
OV
ED
? ?
, TABLE OF CONTENTS
Test Bank: Business Essentials, 14th Edition
By Ronald J. Ebert and Ricky W. Griffin
PART 1: THE CONTEMPORARY BUSINESS WORLD
ST
CHAPTER 1 The US Business Environment
CHAPTER 2 Understanding Business Ethics and Social Responsibility
CHAPTER 3 Entrepreneurship, New Ventures, and Business Ownership
UV
CHAPTER 4 Understanding the Global Context of Business
PART 2: MANAGING THE BUSINESS
CHAPTER 5 Managing the Business
CHAPTER 6 Organizing the Business
IA
CHAPTER 7 Operations Management and Quality
PART 3: PEOPLE IN ORGANIZATIONS
?_
CHAPTER 8 Employee Behavior and Motivation
CHAPTER 9 Leadership and Decision Making
CHAPTER 10 Human Resource Management and Labor Relations
AP
PART 4: PRINCIPLES OF MARKETING: BUILDING RELATIONSHIPS
WITH CUSTOMERS FOR COMPETITIVE ADVANTAGE
CHAPTER 11 Marketing Processes and Consumer Behavior
CHAPTER 12 Developing and Pricing Products
PR
CHAPTER 13 Distributing and Promoting Products
PART 5: MANAGING INFORMATION FOR BETTER BUSINESS
DECISIONS
CHAPTER 14 Information Technology (IT) for Business
OV
CHAPTER 15 The Role of Accountants and Accounting Information
PART 6: THE FINANCIAL SYSTEM AND ISSUES IN FINANCIAL
MANAGEMENT
CHAPTER 16 Understanding Money and the Role of Banking
ED
CHAPTER 17 Managing Business Finances
? ?
, Business Essentials, 14e, (Ebert)
Chapter 1 The U.S. Business Environment
1) Which of the following best describes profit?
A) Total money taken in by a corporation
B) Increases in income from year to year
ST
C) Increases in a corporation's stock price
D) Revenue generated by goods and services
E) Difference between revenues and expenses
Answer: E
UV
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Application of knowledge
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
IA
2) Which of the following describes where a firm conducts its operations and derives its
revenues?
?_
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
AP
E) Political-legal environment
Answer: C
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Concept
PR
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
3) At a general level factors such as international trade agreements, economic conditions, and
OV
political unrest will have the greatest impact in which type of business environment?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-legal environment
ED
Answer: A
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Concept
??
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
, 4) Changes in which type of business environment can reduce or replace the need for traditional
working methods, physical equipment, and other platforms needed to conduct business?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
ST
E) Political-legal environment
Answer: D
Difficulty: Moderate
AACSB: Application of knowledge
UV
Question Category: Concept
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
5) As a teenager, Melinda started cutting grass for her neighbor. She did a good job, and more
IA
and more neighbors began to hire her. After saving money and investing in additional equipment,
Melinda began to earn an even greater profit. Which of the following did Melinda create when
she began cutting her neighbor's yard and earning income?
?_
A) Nonprofit
B) Corporate culture
C) Market economy
D) Monopolistic competition
AP
E) Business
Answer: E
Difficulty: Easy
AACSB: Application of knowledge
Question Category: Concept
PR
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
6) When choosing how to pursue profits, what should be the primary consideration for a
OV
business?
A) Consumers wants or needs
B) How much product to produce
C) Creating the most innovations and opportunity
D) How to compete in the global marketplace
E) Changing demographics in the community
ED
Answer: A
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Concept
??
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
Business Essentials
Ronald J. Ebert, Ricky W. Griffin
ST
────────────────────────────────────────────────────
14th Edition
UV
IA
?_
AP
PR
TEST BANK
OV
ED
? ?
, TABLE OF CONTENTS
Test Bank: Business Essentials, 14th Edition
By Ronald J. Ebert and Ricky W. Griffin
PART 1: THE CONTEMPORARY BUSINESS WORLD
ST
CHAPTER 1 The US Business Environment
CHAPTER 2 Understanding Business Ethics and Social Responsibility
CHAPTER 3 Entrepreneurship, New Ventures, and Business Ownership
UV
CHAPTER 4 Understanding the Global Context of Business
PART 2: MANAGING THE BUSINESS
CHAPTER 5 Managing the Business
CHAPTER 6 Organizing the Business
IA
CHAPTER 7 Operations Management and Quality
PART 3: PEOPLE IN ORGANIZATIONS
?_
CHAPTER 8 Employee Behavior and Motivation
CHAPTER 9 Leadership and Decision Making
CHAPTER 10 Human Resource Management and Labor Relations
AP
PART 4: PRINCIPLES OF MARKETING: BUILDING RELATIONSHIPS
WITH CUSTOMERS FOR COMPETITIVE ADVANTAGE
CHAPTER 11 Marketing Processes and Consumer Behavior
CHAPTER 12 Developing and Pricing Products
PR
CHAPTER 13 Distributing and Promoting Products
PART 5: MANAGING INFORMATION FOR BETTER BUSINESS
DECISIONS
CHAPTER 14 Information Technology (IT) for Business
OV
CHAPTER 15 The Role of Accountants and Accounting Information
PART 6: THE FINANCIAL SYSTEM AND ISSUES IN FINANCIAL
MANAGEMENT
CHAPTER 16 Understanding Money and the Role of Banking
ED
CHAPTER 17 Managing Business Finances
? ?
, Business Essentials, 14e, (Ebert)
Chapter 1 The U.S. Business Environment
1) Which of the following best describes profit?
A) Total money taken in by a corporation
B) Increases in income from year to year
ST
C) Increases in a corporation's stock price
D) Revenue generated by goods and services
E) Difference between revenues and expenses
Answer: E
UV
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Application of knowledge
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
IA
2) Which of the following describes where a firm conducts its operations and derives its
revenues?
?_
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
AP
E) Political-legal environment
Answer: C
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Concept
PR
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
3) At a general level factors such as international trade agreements, economic conditions, and
OV
political unrest will have the greatest impact in which type of business environment?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-legal environment
ED
Answer: A
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Concept
??
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
, 4) Changes in which type of business environment can reduce or replace the need for traditional
working methods, physical equipment, and other platforms needed to conduct business?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
ST
E) Political-legal environment
Answer: D
Difficulty: Moderate
AACSB: Application of knowledge
UV
Question Category: Concept
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
5) As a teenager, Melinda started cutting grass for her neighbor. She did a good job, and more
IA
and more neighbors began to hire her. After saving money and investing in additional equipment,
Melinda began to earn an even greater profit. Which of the following did Melinda create when
she began cutting her neighbor's yard and earning income?
?_
A) Nonprofit
B) Corporate culture
C) Market economy
D) Monopolistic competition
AP
E) Business
Answer: E
Difficulty: Easy
AACSB: Application of knowledge
Question Category: Concept
PR
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
6) When choosing how to pursue profits, what should be the primary consideration for a
OV
business?
A) Consumers wants or needs
B) How much product to produce
C) Creating the most innovations and opportunity
D) How to compete in the global marketplace
E) Changing demographics in the community
ED
Answer: A
Difficulty: Moderate
AACSB: Application of knowledge
Question Category: Concept
??
LO: 1.1: Define the nature of U.S. business, describe the external environments of business,
and discuss how these environments affect the success or failure of organizations.
