ESSAY
1. In your own words, describe what you “bring to the table” as a potential employee of a company that
you desire to work for.
ANS:
Answer not provided.
PTS: 1 REF: p. 5-7 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
2. How can online netwo...
Test Bank for Human Diseases A Systemic
Approach 7th Edition by Zelman
1
,ESSAY
1. In your own words, describe what you “bring to the table” as a potential employee of a company that
you desire to work for.
ANS:
Answer not provided.
PTS: 1 REF: p. 5-7 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
2. How can online networking improve your chances of success in the business world?
ANS:
Answer not provided.
PTS: 1 REF: p. 6 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
3. An entrepreneur combines four kinds of resources into a business. What would be the effect on the
business if any one were left out?
ANS:
Answer not provided.
PTS: 1 REF: p. 10 OBJ: 1-2 NAT: AACSB: Communication
TOP: Business: A Definition
4. What is profit, and why is it important to a business?
ANS:
Answer not provided.
PTS: 1 REF: p. 11 OBJ: 1-2
NAT: AACSB: Reflective Thinking TOP: Business: A Definition
5. What three activities must a business perform in order to be successful? Briefly describe each of these
and why each is essential to business success.
ANS:
Answer not provided.
PTS: 1 REF: p. 9 OBJ: 1-2 NAT: AACSB: Analytic
TOP: Business: A Definition
6. Explain how the notion of scarcity is related to personal as well as business decision making.
2
, ANS:
Answer not provided.
PTS: 1 REF: p. 12 OBJ: 1-3
NAT: AACSB: Reflective Thinking TOP: Types of Economic Systems
7. Explain how the basic economic questions are answered in capitalistic and command economies.
ANS:
Answer not provided.
PTS: 1 REF: p. 13-17 OBJ: 1-3
NAT: AACSB: Reflective Thinking TOP: Types of Economic Systems
8. Why do we say that the U.S. economy is a mixed economy?
ANS:
Answer not provided.
PTS: 1 REF: p. 15 OBJ: 1-3
NAT: AACSB: Reflective Thinking TOP: Types of Economic Systems
9. How does socialism differ from communism?
ANS:
Answer not provided.
PTS: 1 REF: p. 16-17 OBJ: 1-3
NAT: AACSB: Reflective Thinking TOP: Types of Economic Systems
10. Why is productivity important? How can a nation's productivity rate be improved?
11. What is real gross domestic product, and how does it differ from gross domestic product?
ANS:
Answer not provided.
PTS: 1 REF: p. 18 OBJ: 1-4 NAT: AACSB: Communication
TOP: Measuring Economic Performance
12. A nation's economy fluctuates instead of growing at a steady pace every year. These fluctuations are
generally referred to as the business cycle. Describe the four different phases of the business cycle.
14. In perfect competition, who sets the price of a product?
ANS:
Answer not provided.
PTS: 1 REF: p. 22 OBJ: 1-5 NAT: AACSB: Analytic
TOP: Types of Competition
15. Describe how supply and demand affect the price of a product.
ANS:
Answer not provided.
PTS: 1 REF: p. 22 OBJ: 1-5 NAT: AACSB: Analytic
TOP: Types of Competition
16. In a monopolistic competition setting, how can a manufacturer differentiate a product?
ANS:
Answer not provided.
PTS: 1 REF: p. 23 OBJ: 1-5 NAT: AACSB: Analytic
TOP: Types of Competition
17. How does a monopoly have complete control over the price of its product?
ANS:
Answer not provided.
PTS: 1 REF: p. 24 OBJ: 1-5 NAT: AACSB: Communication
4
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