Introduction To Business-bloomsburg University
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Please choose the most appropriate answer.
- 1.Which of the following are all factors of production?
- A.
Labor, natural resources, capital, entrepreneurs, and technology
- B.
Labor, capital, entrepreneurs, and motivation
- C.
Natural resources, entrepreneurs, profits, and creativity
- D.
Labor, profits, natural resources, technology, and motivation
- 2.Competition forces companies to do all of the following, EXCEPT
- A.
Earn higher profits
- B.
Improve their products
- C.
Lower prices
- D.
Promote their brand aggressively
- 3.Telecommuting makes it possible for
- A.
Employees to find higher-paying jobs
- B.
Companies to better manage their supply chains
- C.
Employees to work from home or another location away from the office
- D.
Companies to keep all information secure
- 4.If a firm decides to shift the production of goods or services to an overseas company, this firm is
- A.
Diversifying
- B.
Offshoring
- C.
Telecommuting
- D.
Forming a partnership
- 5.Which of the following is NOT a risk of globalization for U.S. businesses?
- A.
The rise and decline of the U.S. dollar
- B.
The political climate of foreign countries
- C.
Breaches in security and patent protection
- D.
An increase of jobs for those who are well trained and educated
- 6.What are the four most common types of business formats?
- A.
Limited partnership, stakeholder, shareholder, corporation
- B.
Sole proprietorship, partnership, corporation, limited liability company
- C.
Limited liability company, partnership, corporation, regional company
- D.
Sole proprietorship, general partnership, stakeholder, multinational company
- 7.Not every organization that generates revenue and pays expenses is necessarily considered a business. They may operate like a business, but do not go into business to pursue profits. These organizations are called
- A.
Limited liability organizations
- B.
Nonbusiness organizations
- C.
Regional organizations
- D.
Nonprofit organizations
- 8.Businesses must consider the shifts and changes of the "social environment" when making decisions in order to best serve their employees, customers, and community. What three specific issues surround the social environment and present potential challenges and opportunities for today's businesses?
- A.
Globalization, offshoring, and technological changes
- B.
An aging population, increasing diversity and the Green Movement
- C.
E-commerce, the Internet, and multinational companies
- D.
Competition, increasing diversity, and technological changes
- 9.There are many differences between a small business and a large corporation (and every business in between.) From small to large, which list constitutes the different types of businesses?
- A.
Regional, national, local, and multinational
- B.
Multinational, national, regional, and local
- C.
Local, regional, national, and multinational
- D.
National, regional, multinational, and local
- 10.Globalization involves
- A.
Demographic factors such as race, ethnicity, gender, age, income distribution, sexual orientation, and other characteristics
- B.
Two or more businesses that contend to attract customers and gain an advantage over one another
- C.
The merging of economies around the world as technology, goods and services, labor, and capital move back and forth across international borders
- D.
The resources used to create goods and services
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