,understanding Business, 13th Edition, William Nickels Chapt sd sd sd sd sd sd
er 1-20 Answers are at the end of Each chapter Chapter 1
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Student name: sd
1) Describe three ways that governments can foster entrepreneurship and encourage the
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creation of wealth sd sd
2) Describe how businesses can use technology to be more responsive to customers.
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3) Competition among businesses has never been greater. Identify and describe two ways t
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hat businesses can become more competitive.
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4) What is demography? Identify two demographic trends in the United States and discuss h
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ow they will impactUnited States businesses.
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5) Describe what we mean by greening and thinking green. List five ways that people and b
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usinesses are participating in the green movement. List business opportunities that may emerge fr
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om this movement.
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6) Trace the evolution of American business. Identify the key trends, and discuss the i
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mplications these trends have for the future.
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,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
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A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries and
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other expenses.
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A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
sd sd sd if its costs and expenses exceed its revenues.
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A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money invested in a
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business that proves to be unprofitable.
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A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The total amount of money that businesses take in by selling goods and services is called
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, A) profit.
B) revenue.
C) loss.
D) retained earnings. sd
12) A(n) is a person who assumes the risk of starting a business.
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A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
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A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
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A) greater the potential reward. sd sd sd
B) lower the expected revenues.
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C) lower the value provided to society.
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D) greater the number of stakeholders. sd sd sd sd
15) is a measure of the general well- sd sd sd sd sd sd
being and satisfaction derived from a variety of factors including political freedom, safety,
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education, and a clean environment.
sd sd sd sd
A) Standard of living sd sd
B) Quality of life sd sd
C) Gross national income sd sd
D) Social satisfaction sd
er 1-20 Answers are at the end of Each chapter Chapter 1
sd sd sd sd sd sd sd sd sd sd sd
Student name: sd
1) Describe three ways that governments can foster entrepreneurship and encourage the
sd sd sd sd sd sd sd sd sd sd sd
creation of wealth sd sd
2) Describe how businesses can use technology to be more responsive to customers.
sd sd sd sd sd sd sd sd sd sd sd
3) Competition among businesses has never been greater. Identify and describe two ways t
sd sd sd sd sd sd sd sd sd sd sd sd
hat businesses can become more competitive.
sd sd sd sd sd
4) What is demography? Identify two demographic trends in the United States and discuss h
sd sd sd sd sd sd sd sd sd sd sd sd sd
ow they will impactUnited States businesses.
sd sd sd sd sd
5) Describe what we mean by greening and thinking green. List five ways that people and b
sd sd sd sd sd sd sd sd sd sd sd sd sd sd sd
usinesses are participating in the green movement. List business opportunities that may emerge fr
sd sd sd sd sd sd sd sd sd sd sd sd sd
om this movement.
sd sd
6) Trace the evolution of American business. Identify the key trends, and discuss the i
sd sd sd sd sd sd sd sd sd sd sd sd sd
mplications these trends have for the future.
sd sd sd sd sd sd
,7) An entity that seeks to earn a profit by providing a good or service is known as a(n)
sd sd sd sd sd sd sd sd sd sd sd sd sd sd sd sd sd
A) industry.
B) corporation.
C) business.
D) service.
8) is the amount a business earns after deducting what it spends for salaries and
sd sd sd sd sd sd sd sd sd sd sd sd sd sd
other expenses.
sd
A) Profit
B) Revenue
C) Interest
D) Dividends
9) A business incurs a
sd sd sd if its costs and expenses exceed its revenues.
sd sd sd sd sd sd sd
A) loss
B) liability
C) debit
D) dividend
10) is the chance a business owner will lose the time and money invested in a
sd sd sd sd sd sd sd sd sd sd sd sd sd sd sd
business that proves to be unprofitable.
sd sd sd sd sd
A) Depreciation
B) Risk
C) Opportunity
D) Redundancy
11) The total amount of money that businesses take in by selling goods and services is called
sd sd sd sd sd sd sd sd sd sd sd sd sd sd sd
, A) profit.
B) revenue.
C) loss.
D) retained earnings. sd
12) A(n) is a person who assumes the risk of starting a business.
sd sd sd sd sd sd sd sd sd sd
A) manager
B) entrepreneur
C) employee
D) stakeholder
13) Starting a business always involves
sd sd sd sd
A) profit.
B) loss.
C) revenue.
D) risk
14) Often in business the greater the risk, the
sd sd sd sd sd sd sd
A) greater the potential reward. sd sd sd
B) lower the expected revenues.
sd sd sd
C) lower the value provided to society.
sd sd sd sd sd
D) greater the number of stakeholders. sd sd sd sd
15) is a measure of the general well- sd sd sd sd sd sd
being and satisfaction derived from a variety of factors including political freedom, safety,
sd sd sd sd sd sd sd sd sd sd sd sd sd
education, and a clean environment.
sd sd sd sd
A) Standard of living sd sd
B) Quality of life sd sd
C) Gross national income sd sd
D) Social satisfaction sd
