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

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Question 31

Multiple Choice

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The standard of living for a nation's people depends mainly on:

A) the quality of the natural environment.
B) how much political freedom they have.
C) their income and the prices of the goods and services they buy.
D) the amount of labor and capital available employed in the manufacturing sector.

E) None of the above
F) B) and C)

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Question 32

True/False

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As emerging technologies become widespread, businesses tend to find better uses for them. However, in the case of the Internet, businesses that sell B2B have not benefited from directly selling to their business customers in the same way that B2C companies have done.

A) True
B) False

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Question 33

Multiple Choice

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Companies that sell goods to consumers online are engaging in ________ transactions.

War and terrorism in many parts of the world should lead to

NetKnowledge is an online company that provides support services for businesses that need help in setting up and maintaining their websites. NetKnowledge is an example of a company that is engaged in ________ e-commerce.

The rise of online marketing has become particularly important in doing business in the B2B markets.

Nairi is an information savvy, 20-something who is trying to select between two marketing job offers. She can either join a company that makes candles and other home scents, or she can join a company enhancing the LTE phone service. She is quite impressed that the home scent business is growing as the economy is starting to bounce back. She is also aware of 

Eve and her three college friends enjoy perfumes. As a special gift to each of them last holiday season, she found a way to make scented candles with each friend's favorite perfume scent. The three friends loved her gift idea and encouraged Eve to create more and sell them online. Recently, she is filling orders from her website, and turning a profit. Eve is proof that:

Diversity management would not be an issue if firms would treat all of their employees the same.

Revenue is the amount a business earns above and beyond what it spends for expenses and costs.

Zero defects means that there is a company goal of no mistakes in making products.

Political freedom, quality education, access to health care, and a clean environment are all factors that contribute to an improved quality of life.

The federal government requires companies to take diversity very seriously, even recommending establishing a chief diversity officer in the executive suite.

It was recently reported that Japan succeeded in improving its people's standard of living and establishing a relatively affluent society. This report clearly indicates that both income levels and the price of goods and services rose significantly during that time period.

The main difference between B2C and B2B e-commerce is that B2C is only used online, while B2B combines e-commerce with traditional (bricks-and-mortar) outlets.

Which of the following is an advantage of utilizing technology?

War and terrorism have had a significant effect in drawing many resources away from the U.S. economy and led to many additional costs for businesses.

Working as an entrepreneur is the only way to succeed in business.

Sarah has started her own candy company. While she recognizes the risks involved in operating a business, she is still willing to invest her time, effort, and money in hopes of earning a profit. Sarah is an example of an entrepreneur.

Efficiency means: