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Terms in this set (46)Which of the following statements is true of millennials? They shaped the Internet. In a business, which of the following statements best describes profit? It is the money that a business earns in sales, minus expenses. During the __________, as mass production took hold, huge factories replaced skilled artisan workshops. industrial revolution Jason set up a textile mill in his hometown in 1865. He became a rich businessman by the time his son Earl took over the business in 1895. Soon after Earl started heading the business, the government passed laws to regulate business and protect consumers and workers. Due to this move by the government, the textile mill had to introduce a fixed salary structure for its employees and implement quality checks for the products manufactured. In the context of the history of American business, Jason had set up this textile mill in the _____. entrepreneurship era During the production era, in the early part of the 1900s, major businesses focused on: refining the production process and creating greater efficiencies. In the context of the production era, the "hard sell" refers to the: aggressive persuasion designed to separate consumers from their cash. In the context of the history of American business, which of the following statements is true of the marketing era? Businesses began to develop brands to help customers understand the differences among various products. In the context of the history of American business, which of the following statements is true of the relationship era? Businesses aim to build long-term relationships with customers because satisfied customers can become advocates for a business. _____ are business-like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain. Nonprofits _____ are four fundamental resources—natural resources, capital, human resources, and entrepreneurship—that both businesses and nonprofits rely on. Factors of production In the context of factors of production that businesses and nonprofits rely on, which of the following statements is true of natural resources? Most of them must be extracted, purified, or harnessed. In the context of factors of production that businesses and nonprofits rely on, which of the following can be classified as capital? Machine Which of the following factors of production encompasses the physical, intellectual, and creative contributions of people working within an economy? Human resources In the context of the U.S. economic environment, which of the following is a government policy that supports business? The relatively low federal tax rate 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 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 be a part of Anya's responsibilities? 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 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 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. Businesses that strongly focus on customer satisfaction tend to: transform their current customers into loyal advocates for themselves. Which of the following statements best describes e-commerce? Business transactions conducted online, typically via the Internet In the context of the social environment of the United States, which of the following statements is true of diversity? The growth in ethnic populations offers robust profit potential for firms pursuing them. Drenexa Pharmaceuticals is based in the United States. In the context of the social environment, which of the following is most likely to be an impact of the rapidly aging population on Drenexa Pharmaceuticals? It will gain profits as the rapidly aging population will cause the companies that cater to the elderly to boom. The _____ is an international trade agreement that has taken bold steps to lower tariffs and promote free trade worldwide. General Agreement on Tariffs and Trade In the context of the global environment, the _____ has lowered prices and increased quality across virtually every product category, as competition becomes truly global. free-trade movement When making a career choice, experts often advise graduating students to: find a career they love as it will tend to be more rewarding. 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QUESTION Which of the following would likely encourage a firm to increase the debt in its capital structure? a. The corporate tax rate increases. b. The personal tax rate increases. c. Due to market changes, the firm’s assets become less liquid. d. Changes in the bankruptcy code make bankruptcy less costly to the firm. e. The firm’s sales and earnings become more volatile. Verified answer
QUESTION The W.C. Pruett Corp. has $600,000 of interest-bearing debt outstanding, and it pays an annual interest rate of 7%. In addition, it has$600,000 of common stock on its balance sheet. It finances with only debt and common equity, so it has no preferred stock. Its annual sales are $2.7 million, its average tax rate is 35%, and its profit margin is 7%. What are its TIE ratio and its return on invested capital (ROIC)? Verified answer
QUESTION Profit margins and turnover ratios vary from one industry to another. What differences would you expect to find between the turnover ratios, profit margins, and DuPont equations for a grocery chain and a steel company? Verified answer QUESTION Interest rates on 4-year Treasury securities are currently 6.7%, while 6-year Treasury securities yield 7.25%. If the pure expectations theory is correct, what does the market believe that 2-year securities will be yielding 4 years from now? Calculate the yield using a geometric average. Verified answer Other Quizlet setsASN Test #2 Urinary and Bowel76 terms srnajax Quiz 5 and 619 terms rodri_saenz
Pharm. Ch. 8 Tetracyclines, Aminoglycosides, Macro…17 terms tinad9 6.1-6.311 terms Caroline_Chichester2 Related questionsQUESTION The Mexico President working to change their constitution so foreigners could have an interest in Mexico oil is an example of what General Environment force 5 answers QUESTION 19. This account in the balance of payments, records transactions involving the export and import of goods and services. 5 answers QUESTION In the article "Introduction to Knowledge Management", Nanoka and Toyama's theory has 4 stages of how information is transferred. Which is an example of Tacit to Explicit knowledge transfer? 2 answers QUESTION A mission statement defines what the business wants to achieve. Agree or Disagree? 6 answers Which of the following best describes entrepreneurs quizlet?Which of the following best describes an entrepreneur? A person who forms and operates a business.
What is the definition of an entrepreneur quizlet?An individual who undertakes the risk associated with creating, organizing, and owning a business with the desire to make a profit.
What is the similarity between Millennials and digital natives?Which of the following is a similarity between millennials and digital natives? They produce a ripple effect that enriches everyone around them.
What is the most common and riskiest option for starting a business?The most common—and the riskiest—option is starting from scratch. This approach lets you start with a clean slate and allows you to build the business the way you want.
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Which of the following statements is not true about black entrepreneurs and businesspeople today?
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