7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
UnderstandinggBusiness,g13eg(Nickels)
Chapterg01g TakinggRisksgandgMakinggProfitsgwithingthegDynamicgBusinessgEnvironment
1) Businessesgprovideggoods,gjobs,gandgservicesgtogothers.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g DefinitiongofgBusiness
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
2) Businessesgseekgtogearngagprofitgbygprovidingggoodsgandgservicesgtogothers.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g DefinitiongofgBusiness
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
3) Revenuegisgthegamountgagbusinessgearnsgabovegandgbeyondgwhatgitgspendsgforgexpen
sesgandg costs.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
1
about:blank 1/122
,7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
4) Profitgisgthegamountgofgmoneygagbusinessgearnsgabovegandgbeyondgwhatgitgspendsgfor
gsalariesg andgothergexpenses.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
5) Sincegallgbusinessesgmakegagprofit,gstartinggagbusinessgisgnotgrisky.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
6) Angentrepreneurgrisksgtimegandgmoneygtogstartgandgmanagegagbusiness.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
7) Ifgagbusiness'sgcostsgandgexpensesgareggreatergthangitsgrevenue,gitgwillgsuffergagloss.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
2
about:blank 2/122
,7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
8) Profitsgofgagbusinessgincludegthegsalariesgpaidgtogitsgemployees.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Remember
AACSB:g ReflectivegThinkingg Ac
cessibility:g KeyboardgNavigation
9) Revenuegisgthegtotalgamountgofgmoneygagbusinessgtakesgingduringgaggivengperiodgb
ygsellingg goodsgandgservices.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
10) Riskgisgthegchancegangentrepreneurgtakesgofglosinggtimegandgmoneygongagbusinessgthat
gmaygnotg provegprofitable.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
11) ThegUnitedgStatesghasgonegofgtheghighestgstandardsgofglivinggingthegworld.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
12) Thegtermg"standardgofgliving"grefersgtogthegamountgofgdebtgpeoplegcangincurgongaggiven
3
about:blank 3/122
, 7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
income.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Remember
AACSB:g ReflectivegThinkingg Ac
cessibility:g KeyboardgNavigation
13) Healthgcaregavailability,gagcleangenvironment,gandggoodgschoolsgallgcontributegtog
aghighg qualitygofglife.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
14) Maintaininggaghighgqualitygofglifegrequiresgthegcombinedgeffortsgofgbusinesses,gno
nprofitg organizations,gandggovernmentgagencies.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
4
about:blank 4/122
M kels
ForgAllgChaptersgà
UnderstandinggBusiness,g13eg(Nickels)
Chapterg01g TakinggRisksgandgMakinggProfitsgwithingthegDynamicgBusinessgEnvironment
1) Businessesgprovideggoods,gjobs,gandgservicesgtogothers.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g DefinitiongofgBusiness
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
2) Businessesgseekgtogearngagprofitgbygprovidingggoodsgandgservicesgtogothers.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g DefinitiongofgBusiness
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
3) Revenuegisgthegamountgagbusinessgearnsgabovegandgbeyondgwhatgitgspendsgforgexpen
sesgandg costs.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
1
about:blank 1/122
,7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
4) Profitgisgthegamountgofgmoneygagbusinessgearnsgabovegandgbeyondgwhatgitgspendsgfor
gsalariesg andgothergexpenses.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
5) Sincegallgbusinessesgmakegagprofit,gstartinggagbusinessgisgnotgrisky.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
6) Angentrepreneurgrisksgtimegandgmoneygtogstartgandgmanagegagbusiness.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
7) Ifgagbusiness'sgcostsgandgexpensesgareggreatergthangitsgrevenue,gitgwillgsuffergagloss.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
2
about:blank 2/122
,7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
8) Profitsgofgagbusinessgincludegthegsalariesgpaidgtogitsgemployees.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Remember
AACSB:g ReflectivegThinkingg Ac
cessibility:g KeyboardgNavigation
9) Revenuegisgthegtotalgamountgofgmoneygagbusinessgtakesgingduringgaggivengperiodgb
ygsellingg goodsgandgservices.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
10) Riskgisgthegchancegangentrepreneurgtakesgofglosinggtimegandgmoneygongagbusinessgthat
gmaygnotg provegprofitable.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegFactorsgthatgAffectgthegSuccessgorgFailuregofgangOrganization
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
11) ThegUnitedgStatesghasgonegofgtheghighestgstandardsgofglivinggingthegworld.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
12) Thegtermg"standardgofgliving"grefersgtogthegamountgofgdebtgpeoplegcangincurgongaggiven
3
about:blank 3/122
, 7/4/23,g10:48gA SolutiongManualgTestgbankgForgUnderstandinggBusinessg13egNic
M kels
ForgAllgChaptersgà
income.
Answer:g FALSEg Diffic
ulty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Remember
AACSB:g ReflectivegThinkingg Ac
cessibility:g KeyboardgNavigation
13) Healthgcaregavailability,gagcleangenvironment,gandggoodgschoolsgallgcontributegtog
aghighg qualitygofglife.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
14) Maintaininggaghighgqualitygofglifegrequiresgthegcombinedgeffortsgofgbusinesses,gno
nprofitg organizations,gandggovernmentgagencies.
Answer:g TRUEg Difficu
lty:g1gEasy
Topic:g ThegPrivategEnterprisegSystem
LearninggObjective:g 01-
01gDescribegthegrelationshipgbetweengprofitgandgrisk,gandgshowghowg businessesgandgnon
profitgorganizationsgcangraisegthegstandardgofglivinggforgall.
Bloom's:g Rememberg AACS
B:g ReflectivegThinking
Accessibility:g KeyboardgNavigation
4
about:blank 4/122
