,Chapter 1—Exploring the World of Business and Economics
d d d d d d d
ESSAY
1. Indyourdowndwords,ddescribedwhatdyoud“bringdtodthedtable”dasdadpotentialdemployeedofdadcompanydthatd
youddesiredtodworkdfor.
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dEasy REF:d pp.d4-
8dOBJ:d LO:d1-1 NAT:d BUSPROG:dCommunication
TOP:d YourdFuturedindthedChangingdWorlddofdBusiness KEY:d Bloom's:dApplication
2. Howdcandonlinednetworkingdimprovedyourdchancesdofdsuccessdindthedbusinessdworld?
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dModerate
REF:d p.d6dOBJ:d LO:d1-1
NAT:d BUSPROG:dCommunication
TOP:d YourdFuturedindthedChangingdWorlddofdBusiness KEY:d Bloom's:dApplication
3. Andentrepreneurdcombinesdfourdkindsdofdresourcesdintodadbusiness.dWhatdwoulddbedthedeffectdondthed
businessdifdanydonedweredleftdout?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dChallenging REF:d d p.d10
OBJ:d LO:d1-2 NAT:d BUSPROG:dCommunication
TOP:d Business:dAdDefinitiondKEY:d Bloom's:dApplication
4. Whatdisdprofit,danddwhydisditdimportantdtodadbusiness?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d11
OBJ:d LO:d1-2 NAT:d BUSPROG:dCommunication
TOP:d Business:dAdDefinitiondKEY:d Bloom's:dApplication
5. Whatdthreedactivitiesdmustdadbusinessdperformdindorderdtodbedsuccessful?dBrieflyddescribedeachdofdthesed
anddwhydeachdisdessentialdtodbusinessdsuccess.
ANS:
Answerdnotdprovided.
©d2014dCengagedLearning.dAlldRightsdReserved.dMaydnotdbedscanned,dcopieddordduplicated,dordposteddtodadpubliclydaccessibledwebsite,dindwholedordin
dpart.
1
, PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d9
OBJ:d LO:d1-2 NAT:d BUSPROG:dCommunication
TOP:d Business:dAdDefinitiondKEY:d Bloom's:dSynthesis
6. Explaindhowdthednotiondofdscarcitydisdrelateddtodpersonaldasdwelldasdbusinessddecisiondmaking.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d13
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dApplication
7. Explaindhowdthedbasicdeconomicdquestionsdaredanswereddindcapitalisticdanddcommanddeconomies.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d pp.d13-17
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dEvaluation
8. WhyddodwedsaydthatdthedU.S.deconomydisdadmixeddeconomy?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d15
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dAnalysis
9. Howddoesdsocialismddifferdfromdcommunism?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d pp.d16-17
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dAnalysis
10. Whydisdproductivitydimportant?dHowdcandadnation’sdproductivitydratedbedimproved?
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dChallenging
REF:d p.d17dOBJ:d LO:d1-4
NAT:d BUSPROG:dCommunication
TOP:d MeasuringdEconomicdPerformance KEY:d Bloom's:dSynthesis
©d2014dCengagedLearning.dAlldRightsdReserved.dMaydnotdbedscanned,dcopieddordduplicated,dordposteddtodadpubliclydaccessibledwebsite,dindwholedordin
dpart.
2
, 11. Whatdisdrealdgrossddomesticdproduct,danddhowddoesditddifferdfromdgrossddomesticdproduct?
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dChallenging
REF:d p.d18dOBJ:d LO:d1-4
NAT:d BUSPROG:dCommunication
TOP:d MeasuringdEconomicdPerformance KEY:d Bloom's:dSynthesis
12. Adnation'sdeconomydfluctuatesdinsteaddofdgrowingdatdadsteadydpacedeverydyear.dThesedfluctuationsdared
generallydreferreddtodasdthedbusinessdcycle.dDescribedthedfourddifferentdphasesdofdthedbusinessdcycle.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dEasy REF:d d pp.d20-21
OBJ:d LO:d1-5 NAT:d BUSPROG:dCommunication
TOP:d ThedBusinessdCycledKEY:d Bloom's:dKnowledge
13. Whatdisdtheddifferencedbetweendmonetarydpoliciesdanddfiscaldpolicies?dHowddoesdeachdaffectdthed
nation’sdeconomy?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d21
OBJ:d LO:d1-5 NAT:d BUSPROG:dCommunication
TOP:d ThedBusinessdCycledKEY:d Bloom's:dAnalysis
14. Indperfectdcompetition,dwhodsetsdthedpricedofdadproduct?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d22
OBJ:d LO:d1-6 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdCompetitiondKEY:d Bloom's:dAnalysis
15. Describedhowdsupplydandddemanddaffectdthedpricedofdadproduct.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d22
OBJ:d LO:d1-6 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdCompetitiondKEY:d Bloom's:dApplication
©d2014dCengagedLearning.dAlldRightsdReserved.dMaydnotdbedscanned,dcopieddordduplicated,dordposteddtodadpubliclydaccessibledwebsite,dindwholedordin
dpart.
3
d d d d d d d
ESSAY
1. Indyourdowndwords,ddescribedwhatdyoud“bringdtodthedtable”dasdadpotentialdemployeedofdadcompanydthatd
youddesiredtodworkdfor.
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dEasy REF:d pp.d4-
8dOBJ:d LO:d1-1 NAT:d BUSPROG:dCommunication
TOP:d YourdFuturedindthedChangingdWorlddofdBusiness KEY:d Bloom's:dApplication
2. Howdcandonlinednetworkingdimprovedyourdchancesdofdsuccessdindthedbusinessdworld?
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dModerate
REF:d p.d6dOBJ:d LO:d1-1
NAT:d BUSPROG:dCommunication
TOP:d YourdFuturedindthedChangingdWorlddofdBusiness KEY:d Bloom's:dApplication
3. Andentrepreneurdcombinesdfourdkindsdofdresourcesdintodadbusiness.dWhatdwoulddbedthedeffectdondthed
businessdifdanydonedweredleftdout?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dChallenging REF:d d p.d10
OBJ:d LO:d1-2 NAT:d BUSPROG:dCommunication
TOP:d Business:dAdDefinitiondKEY:d Bloom's:dApplication
4. Whatdisdprofit,danddwhydisditdimportantdtodadbusiness?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d11
OBJ:d LO:d1-2 NAT:d BUSPROG:dCommunication
TOP:d Business:dAdDefinitiondKEY:d Bloom's:dApplication
5. Whatdthreedactivitiesdmustdadbusinessdperformdindorderdtodbedsuccessful?dBrieflyddescribedeachdofdthesed
anddwhydeachdisdessentialdtodbusinessdsuccess.
ANS:
Answerdnotdprovided.
©d2014dCengagedLearning.dAlldRightsdReserved.dMaydnotdbedscanned,dcopieddordduplicated,dordposteddtodadpubliclydaccessibledwebsite,dindwholedordin
dpart.
1
, PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d9
OBJ:d LO:d1-2 NAT:d BUSPROG:dCommunication
TOP:d Business:dAdDefinitiondKEY:d Bloom's:dSynthesis
6. Explaindhowdthednotiondofdscarcitydisdrelateddtodpersonaldasdwelldasdbusinessddecisiondmaking.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d13
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dApplication
7. Explaindhowdthedbasicdeconomicdquestionsdaredanswereddindcapitalisticdanddcommanddeconomies.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d pp.d13-17
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dEvaluation
8. WhyddodwedsaydthatdthedU.S.deconomydisdadmixeddeconomy?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d15
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dAnalysis
9. Howddoesdsocialismddifferdfromdcommunism?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d pp.d16-17
OBJ:d LO:d1-3 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdEconomicdSystemsdKEY:d Bloom's:dAnalysis
10. Whydisdproductivitydimportant?dHowdcandadnation’sdproductivitydratedbedimproved?
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dChallenging
REF:d p.d17dOBJ:d LO:d1-4
NAT:d BUSPROG:dCommunication
TOP:d MeasuringdEconomicdPerformance KEY:d Bloom's:dSynthesis
©d2014dCengagedLearning.dAlldRightsdReserved.dMaydnotdbedscanned,dcopieddordduplicated,dordposteddtodadpubliclydaccessibledwebsite,dindwholedordin
dpart.
2
, 11. Whatdisdrealdgrossddomesticdproduct,danddhowddoesditddifferdfromdgrossddomesticdproduct?
ANS:
Answerdnotdprovided.
PTS:d 1 DIF: Difficulty:dChallenging
REF:d p.d18dOBJ:d LO:d1-4
NAT:d BUSPROG:dCommunication
TOP:d MeasuringdEconomicdPerformance KEY:d Bloom's:dSynthesis
12. Adnation'sdeconomydfluctuatesdinsteaddofdgrowingdatdadsteadydpacedeverydyear.dThesedfluctuationsdared
generallydreferreddtodasdthedbusinessdcycle.dDescribedthedfourddifferentdphasesdofdthedbusinessdcycle.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dEasy REF:d d pp.d20-21
OBJ:d LO:d1-5 NAT:d BUSPROG:dCommunication
TOP:d ThedBusinessdCycledKEY:d Bloom's:dKnowledge
13. Whatdisdtheddifferencedbetweendmonetarydpoliciesdanddfiscaldpolicies?dHowddoesdeachdaffectdthed
nation’sdeconomy?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d21
OBJ:d LO:d1-5 NAT:d BUSPROG:dCommunication
TOP:d ThedBusinessdCycledKEY:d Bloom's:dAnalysis
14. Indperfectdcompetition,dwhodsetsdthedpricedofdadproduct?
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d22
OBJ:d LO:d1-6 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdCompetitiondKEY:d Bloom's:dAnalysis
15. Describedhowdsupplydandddemanddaffectdthedpricedofdadproduct.
ANS:
Answerdnotdprovided.
PTS:d d 1 DIF: Difficulty:dModerate REF:d d p.d22
OBJ:d LO:d1-6 NAT:d BUSPROG:dCommunication
TOP:d TypesdofdCompetitiondKEY:d Bloom's:dApplication
©d2014dCengagedLearning.dAlldRightsdReserved.dMaydnotdbedscanned,dcopieddordduplicated,dordposteddtodadpubliclydaccessibledwebsite,dindwholedordin
dpart.
3
