Exam (elaborations)
TEST BANK for Understanding Business, 13th Edition by William Nickels and McHugh, All Chapters 1-20
TEST BANK for Understanding Business, 13th Edition by William Nickels and McHugh, All Chapters 1-20
[Show more]
Connected book
Book Title:
Author(s):
- Edition:
- ISBN:
- Edition:
Content preview
,TEST BANK FOR mm mmUnderstanding Business, 13th Edition, William Nickels mm mm mm mm mm
mm Chapter 1-20 Answers are at the end of Each chapter
mm mm mm mm mm mm mm mm mm
mm Chapter 1 mm
Student name: mm
1) Describe three ways that governments can foster entrepreneurship and encourage
mm mm mm mm mm mm mm mm mm
the creation of wealth
mm mm mm mm
2) Describe how businesses can use technology to be more responsive to customers.
mm mm mm mm mm mm mm mm mm mm mm
3) Competition among businesses has never been greater. Identify and describe two
mm mm mm mm mm mm mm mm mm mm
ways that businesses can become more competitive.
mm mm mm mm mm mm mm
4) What is demography? Identify two demographic trends in the United States and
mm mm mm mm mm mm mm mm mm mm mm
discuss how they will impactUnited States businesses.
mm mm mm mm mm mm mm
5) Describe what we mean by greening and thinking green. List five ways that
mm mm mm mm mm mm mm mm mm mm mm mm
people and businesses are participating in the green movement. List business opportunities
mm mm mm mm mm mm mm mm mm mm mm mm
that may emerge from this movement.
mm mm mm mm mm mm
6) Trace the evolution of American business. Identify the key trends, and
mm mm mm mm mm mm mm mm mm mm
discuss the implications these trends have for the future.
mm mm mm mm mm mm mm mm mm
,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm mm
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for
mm mm mm mm mm mm mm mm mm mm mm
salaries and other expenses.
mm mm mm mm
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
mm mm mm mm if its costs and expenses exceed its revenues.
mm mm mm mm mm mm mm
A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money
mm mm mm mm mm mm mm mm mm mm mm
invested in a business that proves to be unprofitable.
mm mm mm mm mm mm mm mm mm
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The total amount of money that businesses take in by selling goods and services is
mm mm mm mm mm mm mm mm mm mm mm mm mm mm
called
mm
, A) profit.
B) revenue.
C) loss.
D) retained earnings. mm
12) A(n) mm is a person who assumes the risk of starting a business.
mm mm mm mm mm mm mm mm mm mm
A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
mm mm mm mm
A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
mm mm mm mm mm mm mm
A) greater the potential reward.
mm mm mm
B) lower the expected revenues.
mm mm mm
C) lower the value provided to society.
mm mm mm mm mm
D) greater the number of stakeholders.
mm mm mm mm
15) is a measure of the general well-being and satisfaction derived
mm mm mm mm mm mm mm mm mm
from a variety of factors including political freedom, safety, education, and a clean
mm mm mm mm mm mm mm mm mm mm mm mm mm
environment.
mm
A) Standard of living mm mm
B) Quality of life mm mm
C) Gross national income
mm mm
D) Social satisfaction
mm
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller Nursestar1. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $18.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
62774 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 15 years now