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Study Resources (Business Management)

  324.Describe what we mean by greening and thinking green. List several ways that people and businesses are participating in the green movement. List business opportunities that may emerge from this movement. 325.Trace the evolution of American business. Identify the key trends, and discuss the implications these trends have for the future. Mini-CaseSergio.
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  201.The resources that contribute to the creation of wealth are known as ________. A. production coefficientsB. factors of productionC. production technologiesD. production aggregates 202.Which of the following is a factor of production? A. bondsB. moneyC. knowledgeD. service 203.As a factor of production, the term capital includes: A. stocks and bonds issued by corporations.B. natural resources such as land and water.C. tools, machinery, and buildings.D. services provided by.
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  11.In developing nations of the world, population has leveled off and is not expected to increase dramatically in the future. 12.Studies about the effects of population growth on the economy are part of macroeconomics. 13.Economic progress can occur when business owners provide jobs and economic growth for their employees, their communities, and.
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  221.High tax rates tend to: A. promote economic development.B. make a nation's currency tradable.C. discourage entrepreneurship.D. reduce the amount of money created by the government. 222.The capitalist system relies heavily on: A. protectionist policies with respect to world markets.B. minimizing government intervention in corrupt business practices.C. making sure that currencies are never under-valued.D. honesty, integrity, and high ethical business standards. 223.Contemporary governments.
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  151.Over many years the nature of U.S. business has changed very little from century to century. 152.The number of U.S. jobs in manufacturing has increased in the past five years. 153.Technology helped the manufacturing industry to become more productive. 154.While the proportion of workers employed in agriculture has remained relatively constant, the average.
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  261.Successful businesses are keenly focused on their: A. customers.B. managers.C. creditors.D. bureaucrats. 262.Empowerment means: A. giving employees the authority to make decisions.B. making certain that employees always defer to management when making decisions.C. hiring employees that do not require training due to the costly nature of this activity.D. asking employees to write the policies which govern their jobs. 263.Empowerment requires that managers.
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  291.The threat of terrorism more often __________ the cost of operating a business. A. increasesB. decreasesC. stabilizeD. destabilizes 292.The war on terrorism will: A. improve the confidence level of most consumers.B. hurt the profitability of every business operating in the U.S.C. help some businesses and hurt others.D. stabilize the business sector. 293.An increase in global trade will: A. increase prices.B. decrease jobs.C. increase political instability.D. increase global.
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  91.Identity theft is when individuals or firms access people's personal information and then use it for illegal purposes and activities. 92.The main difference between B2C and B2B e-commerce is that B2C uses only the Internet, while B2B combines e-commerce with traditional (bricks-and-mortar) outlets. 93.There is less risk involved in starting an e-commerce.
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  21.Businesses and nonprofit organizations often strive to accomplish the same objectives. 22.Nonprofit organizations use financial gains to meet stated social or educational goals of the organization rather than personal profit. 23.Social entrepreneurs are people who start and manage organizations that are not-for-profit. Their mission is to help others improve their quality of.
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  81.Technology refers to everything that makes business operations more effective, efficient, and productive. 82.E-commerce is the buying and selling of goods over the Internet. 83.The B2B Internet market consists of selling goods and services to consumers. 84.The rise of Internet marketing has become particularly important in doing business in the B2B markets. 85.The business-to-business.
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True / False Questions  1.Businesses provide goods, jobs, and services to others. 2.Businesses seek to earn a profit by providing goods and services to others. 3.Revenue is the amount a business earns above and beyond what it spends for expenses and costs. 4.Profit is the amount of money a business earns above and beyond.
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  231.Jay and Jim Spears own a lawn irrigation system business. They perform installations and maintenance of these systems. Several of their customers are golf courses, but they serve a large group of residential customers as well. When they started the business ten years ago, they made a pact to always.
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  11.The United States has one of the highest standards of living in the world. 12.The term "standard of living" refers to the amount of debt people can incur on a given income. 13.Health care availability, a clean environment, and good schools all contribute to a high quality of life. 14.Maintaining a high quality.
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  161.The growth in the service sector in the United States appears to be giving way to an information-based global era. 162.The transition from an agricultural economy to a manufacturing economy to a service based economy has resulted in a serious increase in long-term unemployment. 163.One reason given for the decline in the.
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  101.Technological innovation has a ripple effect. With the advent of the Internet, Tyler Hanley, a certified tech-nerd, is being courted by companies to write the next generation of antivirus software. He tells us its big business! 102.To remain competitive in today's market, firms must produce a quality product and offer outstanding.
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  71.In rich countries such as the United States, changes in the level of taxation have little impact on the incentives of entrepreneurs. 72.The failure to uphold high ethical business standards by a few companies can negatively impact the entire U.S. business community. 73.Several years ago, the government of the small nation of.
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  281.Businesses are supporting single-parent families with: A. social security benefits.B. a more lenient welfare system.C. more flexible work benefits such as flex time and family leave.D. limited benefits due to the declining numbers of these families. Five-member families are steadily growing. 282.Which of the statements about demography is most accurate? Demographic studies: A. focus on factors that have.
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  21.Thomas Malthus believed that people in most countries would never be able to achieve high standards of living unless the problems of overpopulation were addressed. 22.Adam Smith believed that since businesspeople are motivated to improve their own prosperity, their actions are unlikely to benefit society as a whole. 23.Adam Smith believed that.
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  211.A(n) ________ can be added to a homeowner's insurance policy that provides for coverage at a reasonable cost for items that the policy otherwise would not cover. A. riderB. openerC. extenderD. modifier 212.Many insurance providers offer __________ policies that give a discount to families who buy several types of insurance coverage from them. A. umbrellaB. universalC. multi-useD. rider-enhanced 213.Stan and Heidi are.
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  221.A variable life insurance policy is considered riskier than a traditional whole life policy because it: A. invests savings more aggressively in securities that are riskier but offer higher potential returns.B. has no disability provision to waive premiums in the event of a serious accident or prolonged illness.C. may not allow the holder to.
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  51.One strength of a free-market economic system is that it emphasizes the fair and humane treatment of the less fortunate in society. 52.The greed of businesspeople represents one of the greatest dangers to the operation of a free market system. 53.Fetna resides in a country where the economic system is primarily based.
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  41.A charitable organization, such as the American Red Cross or Salvation Army, is classified as a for-profit organization. 42.It was reported by a Beijing newspaper that China succeeded in improving its people's standard of living and establishing a relatively affluent society in the past seven years. This report clearly indicates that.
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  201.According to Newsweek magazine, a young couple with a new baby should have life insurance coverage equal to: A. $500,000.B. three times their annual income.C. five times their annual income.D. seven times their annual income plus $100,000 to cover the cost of college. 202._________ is a form of life insurance that provides both a savings plan.
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  322.Competition among businesses has never been greater. Identify and describe several ways that businesses can become more competitive. 323.What is demography? Identify several demographic trends in the United States and discuss how they will impact U.S. businesses.     .
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  31.An effort to please one group of stakeholders eventually pleases all stakeholders. 32.Insourcing creates new jobs, and helps offset the number of jobs being outsourced. 33.Robin has started her own Internet consulting firm. While she recognizes the risks involved in operating a business, she is still willing to invest her time, effort,.
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  231.A retirement plan where employers often match part of an employee's contribution is known as a: A. simple IRA.B. Roth IRA.C. Keogh plan.D. 401(k) plan. 232.Withdrawals from a traditional IRA prior to the age of 59½ are: A. tax deferred until you reach 65 years of age.B. tax-free.C. normally subject to a penalty and taxes on the income that is.
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  301.Mark recently graduated with honors from his college. He has bragged to his friends that his academic performance has prepared him so well for a successful career that he can forget school or training in his future. In evaluating the future of the workplace, Mark is: A. exactly right. His past performance.
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  311.In recent years, almost all new job creation in the United States has occurred in the __________ sector: A. serviceB. manufacturingC. agriculturalD. telecommunications 312.The new era of business is likely to be dominated by the: A. service sector.B. information-based sector.C. manufacturing sector.D. continued decline in productivity. 313.Appliance repair firms, tax consultants, law firms, and insurance companies are all business firms that are.
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  141.Wars are costly to all companies. 142.The war on terrorism has had a significant effect in drawing many resources from the U.S. economy and led to many additional costs for businesses. 143.In most industries, the only producers that pose a serious threat to U.S. manufacturers are those in Japan and Western Europe. 144.Companies.
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  181.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. 182.Which of the following is the best example of a business whose goal.
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  271.Which of the following statements best describes how firms must treat their front-line workers in order to remain competitive? Front-line workers must be ____________. A. empowered with the authority to respond quickly to the unmet needs of customersB. closely supervised to reduce the risk of product liability and discrimination law suitsC. eliminated and replaced.
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  51.The major advantage rich nations have over poor nations is an abundance of land and labor. 52.Entrepreneurship is one of the five factors of production that contribute to the creation of wealth. 53.Business consultant Peter Drucker said that the most important factor of production is knowledge. 54.Most business experts agree that entrepreneurship and.
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  171.__________ is the chance a business owner will lose the time and money invested in a business that proves to be unprofitable. A. DepreciationB. RiskC. FallibilityD. Redundancy 172.The total amount of money that businesses take in by selling goods and services is called ________. A. profitB. revenueC. lossD. retained earnings 173.A(n) ____________ is a person who assumes the risk of starting a.
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  111.The primary focus of successful firms is designing and producing high quality goods. Advertising is then used to convince consumers to buy their superior products. 112.It's important that firms are as efficient as possible. This is done by becoming management-driven for efficiency. 113.Customer-driven organizations require managers to closely direct and control their.
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  258.How does term insurance differ from whole life insurance? Describe the newer types of life insurance that have been offered in recent years. 259.Describe the major steps involved in estate planning. Multiple Choice Questions  Mini-CaseIra Roth and Penny Weiss met and married in the early 1990s, during their days at State University. Both.
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True / False Questions  1.America's business success is largely due to an economic and social climate that allows businesses to operate freely. 2.Global economics and politics have no significant influence on businesses in the United States. 3.The study of how society chooses to employ resources to produce goods and services and to distribute.
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  211.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? A. Social progress will evolve when capital is apportioned to everyone in equal amounts.B. A city, state, or nation's social progress needs the right business environment.C. The foundation for.
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  241.Companies that sell goods to consumers over the Internet are engaging in: A. B2C transactions.B. IOU transactions.C. B2B transactions.D. Y2K transactions. 242.The series of lines on a product packaging that the cashier scans when you check out at a grocery store or discount store is called a: A. bar code.B. zip code.C. scan code.D. laser code. 243.An electronic storage file where firms.
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  31.The most fundamental of all rights in capitalism is the right to private property. 32.Under capitalism, the government prohibits people and businesses from competing with each other. 33.A basic right under capitalism is the right of businesses to receive government funding. 34.Free-market capitalism has made it more difficult for individuals to gain wealth. 35.Due.
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  241.The biggest advantage of the Roth IRA is that: A. income contributed to the retirement plan is tax-free.B. withdrawals from the retirement plan are tax-free.C. taxes on the income contributed to the retirement plan are deferred until the funds are withdrawn.D. withdrawals from the retirement plan are tax-deferred until the individual reaches 59½ years of.
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