,@ TEST BANK FOR @ @
Understanding Business, 14th Edition, William Nickels
@ @ @ @ @
Chapter 1-20 Answers are at the end of Each chapter
@ @ @ @ @ @ @ @ @ @
Chapter 1
@ @
Student name: @
1) Describe three ways that governments can foster entrepreneurship and encourage
@ @ @ @ @ @ @ @ @
@the creation of wealth
@ @ @
2) Describe how businesses can use technology to be more responsive to customers.
@ @ @ @ @ @ @ @ @ @ @
3) Competition among businesses has never been greater. Identify and describe two
@ @ @ @ @ @ @ @ @ @
@ways that businesses can become more competitive.
@ @ @ @ @ @
4) What is demography? Identify two demographic trends in the United States and
@ @ @ @ @ @ @ @ @ @ @
@discuss how they will impactUnited States businesses.
@ @ @ @ @ @
5) Describe what we mean by greening and thinking green. List five ways that people
@ @ @ @ @ @ @ @ @ @ @ @ @
@and businesses are participating in the green movement. List business opportunities that
@ @ @ @ @ @ @ @ @ @ @
@may emerge from this movement.
@ @ @ @
6) Trace the evolution of American business. Identify the key trends, and discuss
@ @ @ @ @ @ @ @ @ @ @
@the implications these trends have for the future.
@ @ @ @ @ @ @
,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
@ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries
@ @ @ @ @ @ @ @ @ @ @ @
@and other expenses.
@ @
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
@ @ @ @ if its costs and expenses exceed its revenues.
@ @ @ @ @ @ @
A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money invested
@ @ @ @ @ @ @ @ @ @ @ @
@in a business that proves to be unprofitable.
@ @ @ @ @ @ @
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The total amount of money that businesses take in by selling goods and services is
@ @ @ @ @ @ @ @ @ @ @ @ @ @
called
@
, A) profit.
B) revenue.
C) loss.
D) retained earnings. @
12) A(n) @ is a person who assumes the risk of starting a business.
@ @ @ @ @ @ @ @ @ @
A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
@ @ @ @
A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
@ @ @ @ @ @ @
A) greater the potential reward.
@ @ @
B) lower the expected revenues.
@ @ @
C) lower the value provided to society.
@ @ @ @ @
D) greater the number of stakeholders.
@ @ @ @
15) is a measure of the general well-being and satisfaction derived
@ @ @ @ @ @ @ @ @
@from a variety of factors including political freedom, safety, education, and a clean
@ @ @ @ @ @ @ @ @ @ @ @
@environment.
A) Standard of living @ @
B) Quality of life @ @
C) Gross national income
@ @
D) Social satisfaction
@
Understanding Business, 14th Edition, William Nickels
@ @ @ @ @
Chapter 1-20 Answers are at the end of Each chapter
@ @ @ @ @ @ @ @ @ @
Chapter 1
@ @
Student name: @
1) Describe three ways that governments can foster entrepreneurship and encourage
@ @ @ @ @ @ @ @ @
@the creation of wealth
@ @ @
2) Describe how businesses can use technology to be more responsive to customers.
@ @ @ @ @ @ @ @ @ @ @
3) Competition among businesses has never been greater. Identify and describe two
@ @ @ @ @ @ @ @ @ @
@ways that businesses can become more competitive.
@ @ @ @ @ @
4) What is demography? Identify two demographic trends in the United States and
@ @ @ @ @ @ @ @ @ @ @
@discuss how they will impactUnited States businesses.
@ @ @ @ @ @
5) Describe what we mean by greening and thinking green. List five ways that people
@ @ @ @ @ @ @ @ @ @ @ @ @
@and businesses are participating in the green movement. List business opportunities that
@ @ @ @ @ @ @ @ @ @ @
@may emerge from this movement.
@ @ @ @
6) Trace the evolution of American business. Identify the key trends, and discuss
@ @ @ @ @ @ @ @ @ @ @
@the implications these trends have for the future.
@ @ @ @ @ @ @
,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
@ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @ @
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries
@ @ @ @ @ @ @ @ @ @ @ @
@and other expenses.
@ @
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
@ @ @ @ if its costs and expenses exceed its revenues.
@ @ @ @ @ @ @
A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money invested
@ @ @ @ @ @ @ @ @ @ @ @
@in a business that proves to be unprofitable.
@ @ @ @ @ @ @
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The total amount of money that businesses take in by selling goods and services is
@ @ @ @ @ @ @ @ @ @ @ @ @ @
called
@
, A) profit.
B) revenue.
C) loss.
D) retained earnings. @
12) A(n) @ is a person who assumes the risk of starting a business.
@ @ @ @ @ @ @ @ @ @
A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
@ @ @ @
A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
@ @ @ @ @ @ @
A) greater the potential reward.
@ @ @
B) lower the expected revenues.
@ @ @
C) lower the value provided to society.
@ @ @ @ @
D) greater the number of stakeholders.
@ @ @ @
15) is a measure of the general well-being and satisfaction derived
@ @ @ @ @ @ @ @ @
@from a variety of factors including political freedom, safety, education, and a clean
@ @ @ @ @ @ @ @ @ @ @ @
@environment.
A) Standard of living @ @
B) Quality of life @ @
C) Gross national income
@ @
D) Social satisfaction
@
