Strayer Bus100 quiz 1
Question 1
A business’s core goal is to generate long term profits while delivering _____ to its customers.
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value |
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data |
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communication |
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consistency |
Question 2
As a factor of production, capital would include
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machines, money, tools, and buildings. |
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money, land, labor, and entrepreneurship. |
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machines, tools, buildings, and technology. |
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an entrepreneur’s freedoms. |
Question 3
Nonprofit organizations are not in the business of
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producing a product. |
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generating revenue. |
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improving the quality of life in our society. |
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financial gain. |
Question 4
In order to compete effectively, many companies have taken proactive steps to hire and nurture people from a broad range of backgrounds. This is an example of which business environment?
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technological |
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social |
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global |
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competitive |
Question 5
Business transactions that occur online are examples of
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I-commerce. |
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meta-economics. |
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e-commerce. |
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nano-commerce. |
Question 6
Doing business today without harming the ability of future generations to meet their needs is referred to as
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going green. |
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ethical behavior. |
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social responsibility. |
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sustainability. |
Question 7
The five key dimensions of the broader business environment include
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economic, competitive, technological, social, and global. |
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technological, economic, demographic, global, and social. |
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global, social, technological, market forces, and value. |
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customers, vendors, suppliers, wholesalers, and retailers. |
Question 8
_____ refers to the quality and quantity of products and goods available to a population at a given time.
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Quality of life |
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Economic growth |
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Entrepreneurship |
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Standard of living |
Question 9
Entrepreneurs
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are primarily motivated by the desire to help others. |
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create value for themselves at the expense of others. |
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have little or no impact on others in society. |
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create benefits for others while seeking profit for themselves. |
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Question 10
Business will incur a _____ when expenses are higher than revenue.
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risk |
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profit |
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surplus |
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loss |
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Solution: Strayer Bus100 quiz 1