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Intro to BUSN Quiz

1

QuestionAnswer
Which of the following is a similarity between millennials and digital natives? Like millennials, digital natives tend to be extremely tolerant and inclusive
Which of the following statements is true of entrepreneurs? They produce a ripple effect that enriches everyone around them.
The quality and quantity of goods and services available to a population is referred to as the _____. standard of living
In the context of the history of American business, which of the following statements is true of the industrial revolution? Factories hired large numbers of semiskilled workers who specialized in a limited number of tasks.
In the context of the history of American business, which of the following statements is true of the entrepreneurship era? Large-scale entrepreneurs emerged in the second half of the 1800s, building business empires.
During the _____, the government of the United States stepped into the business realm to pass laws to regulate business and protect consumers and workers. entrepreneurship era
In the context of the history of American business, which of the following statements is true of the production era? Jobs became specialized, increasing productivity and lowering costs and prices.
Which of the following marketing concepts emerged during the marketing era? A consumer focus that permeates successful companies in every department, at every level
In the context of the history of American business, which of the following is a feature of the relationship era? Cultivating current customers turn out to be more profitable than constantly seeking new ones
Conela is a nonprofit organization that renovates abandoned government schools and facilitates their functioning. It is headed by two social activists and is funded by the government. Which of the following statements is true of Conela? It takes in revenue like any other business.
In the context of factors of production, which of the following is a natural resource? Wind
In the context of factors of production that businesses and nonprofits rely on, _____ cannot be considered a natural resource. cereal crops
Anya is an administrator at Zenorx Inc., a start-up software company. She is responsible for acquiring capital for the company. In the context of the various factors of production that businesses rely on, which of the following functions is most likely to Acquiring synthetic resources like computers and telephones
Which of the following scenarios illustrates the utilization of human resources as a factor of production? Carlos hires a content writer to develop content for his online portal that sells fashion accessories.
In the context of factors of production, which of the following statements is true of entrepreneurial enterprises? They can kick-start an economy, creating a tidal wave of opportunity by harnessing other factors of production.
Which of the following is a key dimension of the business environment? The economic environment
In the context of a business environment, which of the following is a key element of the U.S. economic environment? Legislation that supports enforceable contracts
In the context of the competitive environment of a business, the best measure of value is the: size of the gap between product benefits and price.
In the context of the competitive environment, which of the following statements is true of bleeding-edge firms? They launch products that fail because they are too far ahead of the market.
In the context of the technological environment, which of the following statements is true of business technology? It includes any tools that companies can use to become more efficient and effective.
Which of the following factors is most likely to be covered by the social environment dimension of a business? Population size and density
_____ is an international economic and political movement designed to help goods and services flow more conveniently across international boundaries. Free trade
Which of the following was a result of the bold steps taken by the General Agreement on Tariffs and Trade (GATT) to reduce trade restrictions worldwide? Goods moved more freely than ever across international boundaries.
Which of the following statements is true when a person makes a career choice based on what he or she loves doing? Chances of personal success are boosted.
Created by: seandoeletsgetit
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