Busn1101 test 1
, TRUE/FALSE
1. A core goal for successful businesses is to deliver value to customers while generating long-term profits.
T
2. Business will incur a profit when expenses are higher than revenue. F
3. Profit is the money that a business earns in revenue, minus investments, and the cost of salaries.
F
4. The study of economics focuses on how people, businesses, and governments choose to allocate
resources. T
5. Microeconomics is the study of broad, economy-wide issues such as the unemployment rate,
gross domestic product, and inflation. F
6. Global trade provides opportunity for new markets. T
7. The most attractive foreign opportunities for American firms are found in the nations of Europe
and North America. F
8. An ethical beliefs are influenced by his or her social group and culture. T
9. An ethical lapse involves clear misconduct. F
, TRUE/FALSE
1. A core goal for successful businesses is to deliver value to customers while generating long-term profits.
T
2. Business will incur a profit when expenses are higher than revenue. F
3. Profit is the money that a business earns in revenue, minus investments, and the cost of salaries.
F
4. The study of economics focuses on how people, businesses, and governments choose to allocate
resources. T
5. Microeconomics is the study of broad, economy-wide issues such as the unemployment rate,
gross domestic product, and inflation. F
6. Global trade provides opportunity for new markets. T
7. The most attractive foreign opportunities for American firms are found in the nations of Europe
and North America. F
8. An ethical beliefs are influenced by his or her social group and culture. T
9. An ethical lapse involves clear misconduct. F
