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Berkeley City College - BUSINESS 10 Chapter 1: Intro to Bus 1)If a business's expenses exceed its revenues, the business operates at a(n)   2

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Berkeley City College - BUSINESS 10

Chapter 1: Intro to Bus

1)If a business's expenses exceed its revenues, the business operates at a(n)

 

2. A business owner takes the chance of losing time and money invested in a business if it becomes unprofitable. This is referred to as _______ and is an important consideration in deciding whether to become an entrepreneur.

 

 

3. A country with high economic growth may also face challenges like high pollution or political instability. This suggests that

 

4. A company decides to have its accounting tasks handled by an outside firm located in another country. This is referred to as

 

5. Hugo owns a small GM dealership. During the last GM restructuring, he was constantly worried that his dealership might be negatively impacted or that he might have to close down. Hugo is one of GM's

 

6 Which of the following is an advantage to being an entrepreneur?

 

7. Which of the following is a disadvantage to owning and operating your own business?

 

8. Jessica has a successful career working for a prestigious Fortune 500 company. However, she has decided to risk the security of her current job and open a small consulting business specializing in marketing. A person who risks time and money to start and manage a business is called

 

9. You are employed as a consultant by the prime minister of a developing nation to research ways of creating wealth in the nation. What two factors of production do you suggest to him will play the most crucial role in this mission?

 

10. Which of the following is one of the most important factors of production?

 

11. Each year, the World Bank publishes a "Doing Business" report in which economies are ranked on their ease of doing business. Two criteria the World Bank takes into consideration when ranking economies are the ease of obtaining credit and the government's enforcement of contracts. These criteria relate to the

 

12. While considering doing business in a developing nation, John carefully researches the local business environment. Which of the following factors would deter John from establishing operations in this nation?

 

13. All of the following are elements of the economic and legal environment EXCEPT

 

14. If a country's government wants to attract foreign investors, it should lower the _______ associated with starting a business.

 

15. Many countries have clear laws that protect businesses and minimize corruption. However, the country's government must also

 

16. The business environment that has changed the most in the past few decades is the _______environment.

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16. The amount of output you generate given the amount of input, such as the number of hours you work is called

 

17. A property management firm in Iowa purchases commercial cleaning supplies online from a manufacturer in Ohio. This transaction is a _______ sale.

 

18. Claudio bought a powerful gaming computer over the Internet. In order to take advantage of a 10% discount on his purchase, he also opened an online account. This is just one example of how technology makes it easy for companies to

 

19. One way in which technology affects the business environment negatively is by

 

20. Competition in the marketplace

 

21. One of the best ways for a company to achieve a competitive edge is to

 

22. Giving frontline workers the responsibility, authority, freedom, training, and equipment they need to respond quickly to customer requests is called

 

23. When they first came onto the marketplace, high-quality Blu-ray disks were offered by both Netflix and Blockbuster. Over time, however, Blockbuster lost significant market share to Netflix. This is an example of how

 

24. Janet was given the authority by her manager to handle customer requests as she saw fit and was allowed to make decisions to quickly respond to customer complaints. This is an example of

 

25. The statistical study of the human population with regard to its size, density, and other characteristics such as age, race, gender, and income is referred to as

 

26. What is one of the most significant changes in the marketplace today?

 

27. Which of the following statements regarding diversity is TRUE?

 

28. The richest demographic in the United States is comprised of people between the ages of

 

29. Mark works for a pharmaceutical company. One of the most important trends affecting his company is

 

30. The best benefit of increased global trade is that it

 

31. Ultimately, one of the best conditions for global business growth is _______, because it encourages greater trade and the emergence of new markets.

 

32. The movement of the temperature of the planet up or down over time is referred to as

33. The development of business strategies that go beyond regulation and demonstrate a commitment to saving energy, reducing a business's carbon footprint and producing environmentally-friendly products is known as

 

34. The most likely outcome of global business expansion and an increase in U.S. global trade is

 

35. One of the major reasons for the decrease in the need for agricultural workers was

 

36. Careers in law, healthcare, entertainment and financial services are part of the _________ sector.

 

37. We are entering a new era of business that will alter all sectors of the economy. This era focuses on ________.

 

38. People like Ryan and Aaron who risk time and money to start and manage a business are called

 

39.

Although iContact now enjoys revenue over $10 million and expects that figure to double in the next year, it is not yet profitable. In order for iContact to make a profit, its revenues must exceed its

 

40. Ryan and Aaron's business was able to thrive in America because of political freedom, natural environment, education, health care, leisure time, safety, and other benefits. In other words, they were able to thrive because of America's high

 

 

41. Aaron mentioned that iContact considers the needs of the community and the environment. Members of the community and environmentalists are considered some of iContact's 42.  The ability to start and grow iContact was primarily based on the existence of the Internet. The Internet is considered a key part of the   43. iContact is committed to dealing sensitively to workers and customers from a wide variety of backgrounds and cultures. This is known as managing 44. The technology environment would include studies of   45. Age, race, gender, religion, etc. are items included in the study of 46. A business should try to ___________________ the factors in the environment.