QUESTION What is the term that describes an organization that adopts practices for the use of renewable resources and works to solve environmental and social problems? A) green business B) a stakeholder group C) e-business D) social enterprise E) global ANSWER Answer: A Explanation: A) Green businesses emphasize renewable resources and strive to solve […]
QUESTION Which force is most likely to limit the ability of a business to generate wealth? A) competitive B) technological C) global D) economic E) social ANSWER Answer: D Explanation: D) While all forces within the business arena can impact wealth generation, economic forces such as government regulation can most directly limit this capacity.
QUESTION What are people who can claim an organization as their legal property called? A) managers B) owners C) stakeholders D) executors E) directors ANSWER Answer: B Explanation: B) Owners of a business have legal property rights to it. One class of owners is shareholders.
QUESTION What is the term for the relationship between business input and output? A) allocation B) capacity C) yield D) productivity E) profit ANSWER Answer: D Explanation: D) Productivity is defined as the amount of output given the amount of input.
QUESTION Parties whose interests are influenced by the activities of an organization are known most fundamentally as what? A) interest groups B) markets C) stakeholders D) suppliers E) consumers ANSWER Answer: C Explanation: C) Stakeholder groups, including shareholders, management, and employees, are impacted by a particular organization’s activities.
QUESTION Cities and states constantly offer tax incentives to entice businesses to relocate or build facilities in their region. What forces are working here to influence the business environment? A) economic B) technological C) competitive D) global E) social ANSWER Answer: A Explanation: A) Business tax rates are economic forces because they impact potential […]
QUESTION Which of the following is both a factor of production and a stakeholder? A) capital B) human resources C) customers D) owners E) natural resources ANSWER Answer: B Explanation: B) Employees are both a factor of production and a stakeholder group.
QUESTION Deploying technology usually has the most direct impact on what business factor? A) knowledge B) productivity C) costs D) competition E) customers ANSWER Answer: B Explanation: B) The purpose of installing a technology is typically to improve a company’s productivity.
QUESTION Chet runs a woodworking company in a small Midwest town. Many of the original residents’ children move away for college, while the low cost of living attracts many Hispanic families. Which factor of production will likely change in response to the social forces affecting Chet’s business? A) natural resources B) capital C) human resources […]
QUESTION Which of the following likely had the LEAST role in the recent growth of U.S. businesses outsourcing work to other countries? A) state and federal business regulations B) expansion of computer technology C) pursuit of competitive advantage D) foreign country policies on wages E) increased literacy rates in foreign countries ANSWER Answer: A […]
