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Test Bank for Business essentials 12th Edition Ronald J. Ebert. Ricky W. Griffin
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Test Bank for Business essentials 12th Edition Ronald J. Ebert. Ricky W. Griffin
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Table of ContentsChapter 1 The US Business Environment (68 questions) ............................................................................................... 2
Chapter 2 Understanding Business Ethics and Social Responsibility (63 questions) ................................................ 15
Chapter 3: Entrepreneurship, New Ventures, and Business Ownership (78 questions) .............................................. 27
Chapter 4: Understanding the Global Context of Business (65 questions) .................................................................. 41
Chapter 5: Managing the Business (63 questions) ........................................................................................................ 53
Chapter 6: Organizing the Business (65 questions) ....................................................................................................... 65
Chapter 8: Employee Behavior and Motivation (68 questions) ..................................................................................... 77
Chapter 9: Leadership and Decision Making (68 questions) ........................................................................................ 90
Chapter 10: Human Resource Management and Labor Relations (73 questions) ..................................................... 103
Chapter 11: Marketing Processes and Consumer Behavior (76 questions) ............................................................... 117
Chapter 12: Developing and Pricing Products (67 questions) .................................................................................... 131
Overall 754 questions
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, Test Bank for Business Essentials 12th Edition by Ebert
Chapter 1 The US Business Environment (68 questions)
1
Which environment is NOT an important dimension of a business organization's external environment?
A) The political-legal environment
B) The sociocultural environment
C) The technological environment
D) The corporate cultural environment
E) The global business environment
D
2
What is profit?
A) Total money taken in by a corporation
B) Increases in income from year to year
C) Increases in a corporation's stock price
D) Revenue generated by goods and services
E) Difference between revenues and expenses
E
3
What is the environment where a firm conducts its operations and derives its revenues known as?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-legal environment
C
4
Factors such as international trade agreements,economic conditions,and political unrest will have the greatest
impact on what type of business environment?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-legal environment
A
5
Changes in which type of business environment can reduce or replace the need for traditional working
methods,physical equipment,and other platforms needed to conduct business?
A) Global business environment
B) Economic environment
C) Domestic business environment
D) Technological environment
E) Political-legal environment
D
11
Page | 2
,What is the general term for resources used by a business to produce a good or service referred to as?
A) Labor
B) Human Resources
C) Human capital
D) Factors of production
E) Economic systems
D
12
What term denotes a nation's basis for allocating its resources among its citizens?
A) Capital structure
B) Economic system
C) Ownership processes
D) Distribution network
E) National regulations
B
13
What is the process for converting government enterprises into individually owned firms known as?
A) Production allocation
B) Privatization
C) Entrepreneurship
D) Demand assessment
E) Profit maximization
B
14
What is the term for the physical and intellectual contributions of people while engaged in the production of
goods and services?
A) Human resources
B) Working capital
C) Physical resources
D) Planned resources
E) Market resources
A
15
Who is the person who accepts the risks and opportunities inherent in a new business opportunity?
A) Capital managers
B) Entrepreneurs
C) Human resources
D) Home country economic systems managers
E) Information technology managers
B
16
What factor of production is used to generate forecasts based on specialized knowledge and economic data?
A) Economic resources
B) Labor
C) Information resources
Page | 3
, D) Entrepreneurs
E) Physical resources
C
17
When making decisions about production and allocation,which type of system depends on individual
producers and consumers to create a combination of supply and demand?
A) Planned economy
B) Communism
C) Private economy
D) Market economy
E) Socialism
D
18
The idea that individuals would contribute according to their abilities and receive benefits according to their
needs supports which type of economy?
A) Market economy
B) Socialist based economy
C) Mixed market economy
D) Capitalist market economy
E) Communist based economy
E
19
Which of the following best explains the difference between a market economy and a planned economy?
A) In a planned economy, consumers have little choice in where people work or what they purchase or pay. In
a market economy, there is more choice in where people work or what they purchase or pay.
B) In a market economy, consumers must pay what the market demands.
C) Capitalism is the root of a planned economy.
D) Market economies are also known as mixed market economies.
E) Planned economies promote the use of privatization to increase market share.
A
20
What type of economy is the United States reflective of?
A) Planned
B) Mixed
C) Market
D) Private
E) Socialist
B
21
What does a planned economy rely on a centralized government to do?
A) Support free enterprise in every way possible
B) Determine how to allocate all or most factors of production
C) Encourage citizens to buy shares of stock in small companies
D) Keep its control activities to a minimum
E) Direct workers to start their own small businesses
B
Page | 4
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