Question 1

Retired people will be draining the U.S.economy of wealth.This is due to:

Accepted Answer

A)   The fact that most have smoked all their lives and now are unwilling to pay for healthcare in order to stay alive.
B)   The fact there are not enough workers in subsequent generations to support the ongoing drain of older persons into the social security system.
C)   Their lack of interest in supporting restaurants,resorts,educational institutions,and service-intensive companies.
D)   The fact that they refuse to use current information technology to improve efficiency.E) A) and B)
F) A) and C)

Question 2

Entrepreneurship is one of the five factors of production that contribute to the creation of wealth.

Accepted Answer

A) True 
 B)False

Question 3

People between the ages of 65 and 74 represent:

Accepted Answer

A)   the unemployed generation
B)   the single-parent family generation
C)   a lucrative market
D)   a group that has never contributed to social securityE) A) and B)
F) A) and C)

Question 4

Technology can help businesses become more efficient and productive.

Accepted Answer

A) True 
 B)False

Question 5

According to the Connecting with Small Business box,all of the best business ideas come from highly-refined and complicated ideas.

Accepted Answer

A) True 
 B)False

Question 6

Efficiency in distribution systems around the world has led to:

Accepted Answer

A)   increased world trade.
B)   decreased world trade.
C)   decreased international competition.
D)   reduced standards of living around the worlD.E) A) and D)
F) All of the above

Question 7

Mini-Case
Sergio Gonzales is employed by Bigbux National Bank,one of the largest banks in the Midwest.He is a loan officer,specializing in home equity loans.Tio Raul,Sergio's favorite (and wealthiest) uncle,passed away last month and left Sergio a sizable amount of money.Sergio is looking at the best way to invest his newly acquired wealth.He is considering many options,ranging from simply putting the money into a savings account to the possibility of starting his own business.Although his bank job pays well and offers pleasant working conditions,Sergio is frustrated because he has little freedom or flexibility to deal with customers since every decision he makes must be approved by his supervisor.Besides,he's a bit bored and looking for a challenge.He thinks he might get a lot of satisfaction from owning his own business.Sergio has not made a definite decision yet,but has talked to a lot of people searching for a good idea for a new business.If he can come up with an idea he likes,he might just quit his current job and use his inheritance to go into business for himself!
-As he explores his options,Sergio notices that some opportunities appear to be riskier than others.When considering various opportunities,Sergio should keep in mind that:

Accepted Answer

A)   he will be better off picking a low risk business opportunity,since the safest ones are usually the most profitable as well.
B)   even though some opportunities appear riskier than others,the level of risk actually varies little from one opportunity to another.
C)   high risk business opportunities often have the potential for high returns as well.
D)   government regulations are in place to protect investors and entrepreneurs from failure,so there is no need to worry about risk.E) A) and B)
F) A) and C)

Question 8

Tyrell recently noticed that he was receiving several catalogs and direct mail advertisements than he had in the past even though he had not requested any of them.Which of the following best explains why this is happening?

Accepted Answer

A)   Tyrell was a victim of online theft.
B)   Tyrell gave his personal information to a business,which then traded it to other companies and these companies then began sending him catalogs.
C)   All businesses routinely have all customers' personal information.
D)   Tyrell's accountant gave his information to the direct mail marketers.E) A) and B)
F) B) and D)

Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

Efficiency in distribution systems around the world has led to:

Correct Answer
verified

Technology can help businesses become more efficient and productive.

Correct Answer
verified

Tyrell recently noticed that he was receiving several catalogs and direct mail advertisements than he had in the past even though he had not requested any of them.Which of the following best explains why this is happening?

Correct Answer
verified

Correct Answer
verified

According to the Connecting with Small Business box,all of the best business ideas come from highly-refined and complicated ideas.

Correct Answer
verified

People between the ages of 65 and 74 represent:

Correct Answer
verified

Entrepreneurship is one of the five factors of production that contribute to the creation of wealth.

Correct Answer
verified

Retired people will be draining the U.S.economy of wealth.This is due to:

Correct Answer
verified

Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

Efficiency in distribution systems around the world has led to:

Correct AnswerverifiedShow Answer

Technology can help businesses become more efficient and productive.

Correct AnswerverifiedShow Answer

Tyrell recently noticed that he was receiving several catalogs and direct mail advertisements than he had in the past even though he had not requested any of them.Which of the following best explains why this is happening?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

According to the Connecting with Small Business box,all of the best business ideas come from highly-refined and complicated ideas.

Correct AnswerverifiedShow Answer

People between the ages of 65 and 74 represent:

Correct AnswerverifiedShow Answer

Entrepreneurship is one of the five factors of production that contribute to the creation of wealth.

Correct AnswerverifiedShow Answer

Retired people will be draining the U.S.economy of wealth.This is due to:

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified