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Test Bank for Understanding Business, 13th Edition by William Nickels, Jim McHugh, Susan Mc||ISBN, 978-1260894851||Chapters 1-20||Complete Guide A+R334,29
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TEST BANK For Understanding Business 13th Edition by Nickels, McHugh and McHugh; ISBN: 9781260894851, All 20 Chapters Covered, Verified Latest Edition
TEST BANK FOR Understanding Business, 13th Edition, William Nickels All Chapter 1-20 Latest A+
Test Bank for Understanding Business, 13th Edition by William Nickels, Jim McHugh, Susan Mc All Chapters Fully Covered A+ Guide Solution ISBN:9781260894851 Newest Version
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Test Bank for Understanding Business, 13th Edition, William Nickels Chapter 1 -20 Answers are at the end of Each chapter Chapter 1 Student name:__________ 1) Describe three ways that governments can foster entrepreneurship and e ncourage the creation of wealth 2) Describe how businesses can use technology to be more responsive to customers. 3) Competition among businesses has never been greater. Identify and describe two ways that businesses can become more competitive. 4) What is demography? Identify two demographic trends in the United States and discuss how they will impactUnited States businesses. 5) Describe what we mean by greening and thinking green. List five ways that peopl e and businesses are participating in the green movement. List business opportunities that may emerge from this movement. 6) Trace the evolution of American business. Identify the key trends, and discuss the implications these trends have for the future. NURSEDOCS 7) An entity that seeks to earn a profit by providing a good or service is known as a(n) A) industry. B) corporation. C) business. D) service. 8) __________ is the amount a busin ess earns after deducting what it spends for salaries and other expenses. A) Profit B) Revenue C) Interest D) Dividends 9) A business incurs a __________ if its costs and expenses exceed its revenues. A) loss B) liabil ity C) debit D) dividend 10) __________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable. A) Depreciation B) Risk C) Opportunity D) Redundan cy 11) The total amount of money that businesses take in by selling goods and services is called NURSEDOCS A) profit. B) revenue. C) loss. D) retained earnings. 12) A(n) __________ is a person who assumes the risk of starting a business. A) manager B) entrepreneur C) employee D) stakeholder 13) Starting a business always involves A) profit. B) lo ss. C) revenue. D) risk 14) Often in business the greate r the risk, the A) greater the potential reward. B) lower the expected revenues. C) lower the value provided to society. D) great er the number of stakeholders. 15) __________ is a measure of the general well -being and sati sfaction derived from a variety of factors including political freedom, safety, education, and a clean environment. A) Standard of living B) Quality of life C) Gross national in come D) Social satisfaction NURSEDOCS 16) The amount o f goods and services people can buy with the money they have is called their A) nominal income. B) consumer price index. C) profit margin. D) standard of living. 17) The customers, employees, stockholders, suppliers, cre ditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's A) market makers. B) economic environment. C) stakeholders. D) social environment. 18) The most important difference between for -profit businesses and nonprofit organizations is that A) for -profit businesses do not benefit society. B) nonprofit organizations seek to make a profit for their owners and organizers. C) nonprofit organizations do not seek a profit for their owners or organizers. D) nonprofit organizations do not answer to stakeholders. 19) A common characteristic of most entrepreneurs is that they A) accept the risks involved in starting and managing a business. B) have a high level of scientific and technical expertise. C) possess a great deal of personal wealth. D) have experience in running large, complex organizations. NURSEDOCS
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