TEST BANK__Business 12th Edition by William Pride |Chapters 1-20| All Chapters Verified, Guide A+

TEST BANK
Business

William M. Pride, Robert J. Hughes
12th Edition
PR
O
FD
O
C

,Table of Contents
Part I: The Environment of Business
1. Exploring the World of Business and Economics
2. Being Ethical and Socially Responsible
3. Exploring Global Business
Part II: Business Ownership and Entrepreneurship
4. Choosing a Form of Business Ownership
5. Small Business, Entrepreneurship, and Franchises
Part III: Management and Organization
6. Understanding the Management Process
7. Creating a Flexible Organization
8. Producing Quality Goods and Services
Part IV: Human Resources
9. Attracting and Retaining the Best Employees
PR
10. Motivating and Satisfying Employees and Teams
11. Enhancing Union–Management Relations
Part V: Marketing
12. Building Customer Relationships Through Effective Marketing
O
13. Creating and Pricing Products That Satisfy Customers
14. Wholesaling, Retailing, and Physical Distribution
15. Developing Integrated Marketing Communications
FD
Part VI: Information for Business Strategy and Decision Making
16. Exploring Social Media and e-Business
17. Using Management Information Systems and Accounting Information
Part VII: Finance and Investment
O
18. Understanding Money, Banking, and Credit
19. Mastering Financial Management
C
20. Understanding Personal Finances and Investments

,Chapter 1—Exploring the World of Business and Economics


ESSAY

1. In your own words, describe what you “bring to the table” as a potential employee of a company that
you desire to work for.

ANS:
Answer not provided.

PTS: 1 DIF: Difficulty: Easy REF: pp. 4-8
OBJ: LO: 1-1 NAT: BUSPROG: Communication
TOP: Your Future in the Changing World of Business KEY: Bloom's: Application

2. How can online networking improve your chances of success in the business world?

ANS:
Answer not provided.
PR
PTS: 1 DIF: Difficulty: Moderate REF: p. 6
OBJ: LO: 1-1 NAT: BUSPROG: Communication
TOP: Your Future in the Changing World of Business KEY: Bloom's: Application

3. An entrepreneur combines four kinds of resources into a business. What would be the effect on the
O
business if any one were left out?

ANS:
Answer not provided.
FD
PTS: 1 DIF: Difficulty: Challenging REF: p. 10
OBJ: LO: 1-2 NAT: BUSPROG: Communication TOP: Business: A Definition
KEY: Bloom's: Application

4. What is profit, and why is it important to a business?
O

ANS:
Answer not provided.
C
PTS: 1 DIF: Difficulty: Moderate REF: p. 11
OBJ: LO: 1-2 NAT: BUSPROG: Communication TOP: Business: A Definition
KEY: Bloom's: Application

5. What three activities must a business perform in order to be successful? Briefly describe each of these
and why each is essential to business success.

ANS:
Answer not provided.

, PTS: 1 DIF: Difficulty: Moderate REF: p. 9
OBJ: LO: 1-2 NAT: BUSPROG: Communication TOP: Business: A Definition
KEY: Bloom's: Synthesis

6. Explain how the notion of scarcity is related to personal as well as business decision making.

ANS:
Answer not provided.

PTS: 1 DIF: Difficulty: Moderate REF: p. 13
OBJ: LO: 1-3 NAT: BUSPROG: Communication TOP: Types of Economic Systems
KEY: Bloom's: Application

7. Explain how the basic economic questions are answered in capitalistic and command economies.

ANS:
Answer not provided.

PTS: 1 DIF: Difficulty: Moderate REF: pp. 13-17
PR
OBJ: LO: 1-3 NAT: BUSPROG: Communication TOP: Types of Economic Systems
KEY: Bloom's: Evaluation

8. Why do we say that the U.S. economy is a mixed economy?

ANS:
Answer not provided.
O

PTS: 1 DIF: Difficulty: Moderate REF: p. 15
OBJ: LO: 1-3 NAT: BUSPROG: Communication TOP: Types of Economic Systems
FD
KEY: Bloom's: Analysis

9. How does socialism differ from communism?

ANS:
Answer not provided.
O
PTS: 1 DIF: Difficulty: Moderate REF: pp. 16-17
OBJ: LO: 1-3 NAT: BUSPROG: Communication TOP: Types of Economic Systems
C
KEY: Bloom's: Analysis

10. Why is productivity important? How can a nation’s productivity rate be improved?

ANS:
Answer not provided.

PTS: 1 DIF: Difficulty: Challenging REF: p. 17
OBJ: LO: 1-4 NAT: BUSPROG: Communication
TOP: Measuring Economic Performance KEY: Bloom's: Synthesis