Questions Chapter 1

Questions Chapter 1 - Chapter 1 Managing Within The Dynamic...

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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-1 Chapter 1 Managing Within The Dynamic Managing Within The Dynamic Business Environment: Taking Risks Business Environment: Taking Risks and Making Profits and Making Profits CPS questions
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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-2 1. Often in business, the greater the risk, the a. greater the potential reward. b. lower the expected revenues. c. lower the value provided to society. d. greater the number of stakeholders.
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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-3 2. Kayla’s income has remained stable over the past few years while the prices of the goods and services have gone up. Nevertheless, Kayla feels better off because the environment is cleaner, the crime rate has declined, she has more leisure time, and the quality of medical care has improved. If her experience is typical, we can conclude that the standard of living has: a. increased, but the quality of life has decreased. b. increased, and so has the quality of life. c. declined, but the quality of life has increased. d. declined, and so has the quality of life.
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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-4 3. _______ are the resources that contribute to the creation of wealth. a. Production coefficients b. Factors of production c. Production technologies d. Production aggregates
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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-5 4. The most accurate statement about factors of production is: a. the five factors of production are energy, capital, labor, leadership and money. b. wealth creation in poor nations is slowed by chronic shortages of labor. c. each of the factors of production is equally important in creating wealth. d. entrepreneurship and knowledge are the most important in creating wealth.
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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-6 5. What environment of business are taxes and government regulations part of? a. Economic and legal b. Competitive c. Social d. Technological
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Chapter 01: Managing Within The Dynamic Business Environment: Taking Risks and Making Profits 1-7 6. Yashmi is an owner of a small coffee shop in Maryland. In order to open her shop she first had to: a. have many employees willing to work at all times of the day. b. go through a long, bureaucratic process to
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Questions Chapter 1 - Chapter 1 Managing Within The Dynamic...

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