BA 100 Test 1 ACTUAL COMPLETE EXAM |WITH ACCURATE
QUESTIONS AND VERIFIED ANSWERS|GRADED A
Which of the following statements is true of entrepreneurs?
a. They produce a ripple effect that enriches everyone around them.
b. They are bound to face recurring loses before making a profit.
c. They serve the society instead of creating wealth for themselves.
d. They do not risk their time and money when managing a business.
Ans✓✓✓ a. They produce a ripple effect that enriches everyone around
them.
In the context of a business environment, which of the following is a key
element of the U.S. economic environment?
a. Policies that ensure high federal tax rates for businesses
b. Protocols that restrict mergers between nonprofits and private
businesses
c. Regulations that decrease corporate accountability
d. Legislation that supports enforceable contracts Ans✓✓✓ d.
Legislation that supports enforceable contracts
_____ is an international economic and political movement designed to
help goods and services flow more conveniently across international
boundaries.
a. Wholesale trade
b. Retail trade
c. Bulk trade
,d. Free trade Ans✓✓✓ d. Free trade
In the context of factors of production that businesses and nonprofits
rely on, _____ cannot be considered a natural resource.
a. cereal crops
b. mineral deposits
c. land
d. water Ans✓✓✓ a. cereal crops
Which of following was a result of the bold steps taken by the General
Agreement on Tariffs and Trade (GATT) to reduce trade restrictions
worldwide?
a. Legislations against international dumping of goods increased.
b. Subsidies to local firms were increased so that they could compete
with importers.
c. Goods moved more freely than ever across international boundaries.
d. Import quotas were imposed to benefit domestic producers.
Ans✓✓✓ c. Goods moved more freely than ever across international
boundaries
Which of the following scenarios illustrates the utilization of human
resources as a factor of production?
a. Fred capitalizes on the demand in the market for animation and starts
his own design company.
, b. Tia obtains machines required to create iron blocks that her company
sells.
c. Serena's company extracts and purifies coal deposits to use as a
feedstock in the manufacture of chemical fertilizers.
d. Carlos hires a content writer to develop content for his online portal
that sells fashion accessories. Ans✓✓✓ d. Carlos hires a content writer
to develop content for his online portal that sells fashion accessories.
In the context of the history of American business, which of the
following statements is true of the industrial revolution?
a. Factories hired large numbers of semiskilled workers who specialized
in a limited number of tasks.
b. The government passed laws to regulate business and protect
consumers and workers, creating balance in the economy.
c. Individual ownership in various production processes was promoted.
d. Balance of power shifted away from producers and toward
consumers. Ans✓✓✓ a. Factories hired large numbers of semiskilled
workers who specialized in a limited number of tasks.
In the context of the competitive environment, which of the following
statements is true of bleeding-edge firms?
a. They launch successful products that are in high demand among
consumers.
b. They launch cheaper versions of already existing successful products.
c. They launch innovative products that have a small existing market.
, d. They launch products that fail because they are too far ahead of the
market. Ans✓✓✓ d. They launch products that fail because they are too
far ahead of the market.
In the context of factors of production, which of the following is a
natural resource?
a. A computer
b. Wind
c. An investment
d. Information Ans✓✓✓ b. Wind
In the context of the history of American business, which of the
following is a feature of the relationship era?
a. Cultivating current customers turn out to be more profitable than
constantly seeking new ones.
b. Manufacturing firms hire skilled artisans to facilitate mass production
of goods.
c. Major businesses focus more on refining production processes than
on competing with each other.
d. Jobs become specialized, increasing productivity and lowering costs
and prices. Ans✓✓✓ a. Cultivating current customers turn out to be
more profitable than constantly seeking new ones.
Conela is a nonprofit organization that renovates abandoned government
schools and facilitates their functioning. It is headed by two social
QUESTIONS AND VERIFIED ANSWERS|GRADED A
Which of the following statements is true of entrepreneurs?
a. They produce a ripple effect that enriches everyone around them.
b. They are bound to face recurring loses before making a profit.
c. They serve the society instead of creating wealth for themselves.
d. They do not risk their time and money when managing a business.
Ans✓✓✓ a. They produce a ripple effect that enriches everyone around
them.
In the context of a business environment, which of the following is a key
element of the U.S. economic environment?
a. Policies that ensure high federal tax rates for businesses
b. Protocols that restrict mergers between nonprofits and private
businesses
c. Regulations that decrease corporate accountability
d. Legislation that supports enforceable contracts Ans✓✓✓ d.
Legislation that supports enforceable contracts
_____ is an international economic and political movement designed to
help goods and services flow more conveniently across international
boundaries.
a. Wholesale trade
b. Retail trade
c. Bulk trade
,d. Free trade Ans✓✓✓ d. Free trade
In the context of factors of production that businesses and nonprofits
rely on, _____ cannot be considered a natural resource.
a. cereal crops
b. mineral deposits
c. land
d. water Ans✓✓✓ a. cereal crops
Which of following was a result of the bold steps taken by the General
Agreement on Tariffs and Trade (GATT) to reduce trade restrictions
worldwide?
a. Legislations against international dumping of goods increased.
b. Subsidies to local firms were increased so that they could compete
with importers.
c. Goods moved more freely than ever across international boundaries.
d. Import quotas were imposed to benefit domestic producers.
Ans✓✓✓ c. Goods moved more freely than ever across international
boundaries
Which of the following scenarios illustrates the utilization of human
resources as a factor of production?
a. Fred capitalizes on the demand in the market for animation and starts
his own design company.
, b. Tia obtains machines required to create iron blocks that her company
sells.
c. Serena's company extracts and purifies coal deposits to use as a
feedstock in the manufacture of chemical fertilizers.
d. Carlos hires a content writer to develop content for his online portal
that sells fashion accessories. Ans✓✓✓ d. Carlos hires a content writer
to develop content for his online portal that sells fashion accessories.
In the context of the history of American business, which of the
following statements is true of the industrial revolution?
a. Factories hired large numbers of semiskilled workers who specialized
in a limited number of tasks.
b. The government passed laws to regulate business and protect
consumers and workers, creating balance in the economy.
c. Individual ownership in various production processes was promoted.
d. Balance of power shifted away from producers and toward
consumers. Ans✓✓✓ a. Factories hired large numbers of semiskilled
workers who specialized in a limited number of tasks.
In the context of the competitive environment, which of the following
statements is true of bleeding-edge firms?
a. They launch successful products that are in high demand among
consumers.
b. They launch cheaper versions of already existing successful products.
c. They launch innovative products that have a small existing market.
, d. They launch products that fail because they are too far ahead of the
market. Ans✓✓✓ d. They launch products that fail because they are too
far ahead of the market.
In the context of factors of production, which of the following is a
natural resource?
a. A computer
b. Wind
c. An investment
d. Information Ans✓✓✓ b. Wind
In the context of the history of American business, which of the
following is a feature of the relationship era?
a. Cultivating current customers turn out to be more profitable than
constantly seeking new ones.
b. Manufacturing firms hire skilled artisans to facilitate mass production
of goods.
c. Major businesses focus more on refining production processes than
on competing with each other.
d. Jobs become specialized, increasing productivity and lowering costs
and prices. Ans✓✓✓ a. Cultivating current customers turn out to be
more profitable than constantly seeking new ones.
Conela is a nonprofit organization that renovates abandoned government
schools and facilitates their functioning. It is headed by two social
