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BUSINESS EXAM CHAPTER 1

Risk
Starting a business always involves what?
Helps offset the number of jobs being outsourced
Honda and Toyota have used insourcing for years to produce cars in the US. INSOURCING: ________
Their income and the prices of goods & services they buy.
The standard of living for a nation’s people depends mainly on:
declined, but the quality of life has increased
Janes income has remained stable over the past few years while the prices of things she buys have gone up. Jane feels better off because the environment is cleaner and the crime rate has declined, she has more leisure time and the quality of medcal care has improved. if jane’s experience is typical we can conclude that the standard of living has _____
CAPITAL
The trucks, handcarts and forklift purchased for the business are called ________________ investments
Establishing a currency thats tradable in world markets
Contemporary governments promote business development by:
Wealthy nations have knowledge and entrepreneurial opportunities, while poor nations are often lacking in these areas.
When we compare the factors of production in wealthy and poor nations, we find:
fundamentally weakened the entire economic environment
Questionable business practices such as those followed by many mortages lending companies in the past few years:
Producing goods and services using the least amount of resources
Efficiency means:
BAR CODE
The series of lines on a product packaging that the cashier scans when you check out at a store is called a:
Productivity increases
Which of the following is an advantage of utilizing technology?
Information technologies
In recent years, businesses in general have experienced a lasting impact due to the emergence of_______________
Given your personal information you give to a company, that sells it to another company.
When you receive junk mail, catalogs and direct mail advertisements and you do not request them… This is because you have…??
Check your credit report
When you notice charges on your account not made by you or anyone that you know… You may want to cancel your card, and contact your bank.. What else might you do??
Training
Empowerment requires that managers focus more on ________ lower- level employees.
Competitive environment
Companies are required to offer both high-quality products and outstanding service at competitive prices … This is called what??
Empowered with the quthority to respond quickly to the unment needs of customers
Front-line workers must be ____________
Population shifts
Businesses that cater to older consumers will see exceptional growth due to what?
People between ages 65 and 74
Lucrative market (ages that represent this)
Allowing family leave and flextime
A business policy that would most likely help a single-parent family?
Schools, hospitals & other services type industries
The immigrant population (bother legal and illegal) is having a dramatic effect on….. What??
Single-parent families
One group of workers who would probably benefit from flextime is ??
Consumer and economic hardship due to increased military spending
The war on terrorism in many parts of the world should lead to ___________.
The threat of terrorism
What is costly to most firms because it is costly to governments who increase taxes to pay for added protection?
Service Sector
Appliance repair firms, tax consultants, law firms, and insurance companies are all business firms that are part of the _____________ what??

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