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Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

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Question 1

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Tools, machinery, and buildings are examples of capital resources.

A) True
B) False

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Question 2

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Although employment in the service sector has increased rapidly in recent years, the vast majority of workers are still employed in the goods-producing sector.

A) True
B) False

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The amount of profit or loss earned by a business can be found by subtracting the firm's expenses from its revenues.

The business-to-business segment of e-commerce is of less importance than the business-to-consumer segment of e-commerce.

The knowledge and skills learned in business courses are seldom relevant to students who work for nonprofit organizations or volunteer groups.

Currently people between the ages of 45 and 54 are the richest group in the United States.

Though the prices of things she buys have gone up, Jin's income has remained stable over the past few years . Nevertheless, Jin feels better off because the environment is cleaner, the crime rate has dropped, she has more relaxation time, and the quality of medical care has improved. If Jin's experience is typical, we can assume that the standard of living has

Which of the following statements describes a recurring theme about today's ecological environment?

Wars are costly to all companies.

Which of the following industries will most likely benefit from an aging population?

Efficiency in distribution systems around the world has led to

In most industries, the only producers that pose a serious threat to U.S. manufacturers are those in Japan and Western Europe.

The business environment refers to the surrounding factors that either help or hinder the development of businesses.

Historically jobs lost in one sector of the economy have been replaced by increased employment opportunities in other sectors.

Diversity groups identified in the market today can include extroverts, introverts, atheists, and the religious.

E-commerce is the buying and selling of goods online.

The emergence of an information-based economy are important parts of the ________ environment in which businesses operate.

Successful firms follow a customer-driven strategy, as opposed to the management-driven strategy used in the past.

Since all businesses make a profit, starting a business is not risky.

The number of U.S. jobs in manufacturing has increased in the past five years.