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

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Question 91

Multiple Choice

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Health care,insurance,recreation and other intangible products are provided by the:

A) global sector.
B) service industry.
C) industrial sector.
D) manufacturing industry.

E) C) and D)
F) A) and D)

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Question 92

Multiple Choice

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The number of businesses owned by Hispanics and Asians has:

A) has decreased after the 9-11 terrorist attack.
B) slowly increased.
C) significantly increased.
D) remained relatively constant.

E) None of the above
F) A) and B)

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Question 93

True/False

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Corruption and illegal activities are expected in a capitalist system and can be beneficial.

Currently people between the ages of 45 and 54 are the richest group in the United States.

Women currently own less than ten percent of all businesses.

Risk is the chance an entrepreneur takes of losing time and money on a business that may not prove profitable.

The new era of business is likely to be dominated by the:

Greg recently completed his college degree in construction management.He is heading to Mexico City to start a business developing apartment dwellings.After researching several potential areas,he chose Mexico City due to its high population.Greg felt that this factor would create a large labor pool,the most important of the five factors of production.

Demographic trends suggest that businesses will benefit from offering flexible work schedules,eldercare,and childcare to help employees balance the demands of job and family.

Globalization has increased among nations.

In order to make an intelligent investment decision,entrepreneurs should:

A nation progresses socially when it has good schools,clean air and water,and more.Which of the following statements addresses conditions for social progress?

Ross wants to invest some money that he just inherited.He found that his bank offers a savings account paying a guaranteed 3% rate of return.However,he would like to earn a higher return.Ross should keep in mind that to earn a higher return on his money he:

In order to compete well and gain market share,contemporary businesses are changing to be more ________________.

Maintaining a high quality of life requires the combined efforts of businesses,nonprofit organizations,and government agencies.

An increase in global trade will:

Maya is an engineer for Windy Ridge,Inc.a maker of wind turbines.Recently,a large company has shown interest in investing in this small operation.This is not surprising since firms that are creating products for alternative sources of energy are attracting the attention of governments and other businesses.

If a business's costs and expenses are greater than its revenue,it will suffer a loss.

The two main types of e-commerce are:

__________ is the amount a business earns after deducting what it spends for salaries and other expenses.