Chapter 01 Taking Risks and Making Profits within the
1. Businesses provide goods, jobs, and services to others.
2. Businesses seek to earn a profit by providing goods and services to others.
3. Revenue is the amount
Chapter 02 Understanding How Economics Affects Business
1. America's business success is largely due to an economic and social climate that allows businesses to operate
2. Global economics and politics have no significant influence on b
Chapter Bonus C Managing Risk
1. The management of risk is a small part of global business.
2. An enterprise risk management (ERM) program has a goal of defining which risks the program will manage.
3. Managing risk includes things s
Chapter 03 Doing Business in Global Markets
1. Today, over 90% of the companies doing business globally believe it is important for their employees to have
experience working in other countries.
2. Importing is the selling of products to anothe
Chapter 10 Motivating Employees
1. The sense of satisfaction you get when you achieve an important goal is an intrinsic reward.
2. Extrinsic rewards are those that are given to a person by someone else.
3. Motivation is the drive to
Chapter 17 Understanding Accounting and Financial
1. Accounting is an easy subject for people to understand because almost everyone is exposed to basic
accounting concepts in their everyday life.
2. Although managers who work for la
Chapter Bonus B Using Technology to Manage Information
1. Though the types of technology used by businesses have changed over the last several decades, the role of
business technology has remained remarkably constant.
2. In the 1970s business t
Chapter 04 Demanding Ethical and Socially Responsible
1. The Enron scandal illustrates the difference between unethical behavior and illegal behavior.
2. Ethical behavior requires more than following the law.
3. Legal behavi
Chapter 20 Money, Financial Institutions, and the Federal
1. Economic growth and the creation of jobs depend on the availability of money.
2. Most countries restrict the flow of money in and out of their borders.
Chapter 11 Human Resource Management: Finding and
Keeping the Best Employees
1. Human Resources Management is the process of deciding the number and types of people your business
needs, and then, recruiting, selecting, developing, motivating, evaluating,
Chapter 18 Financial Management
1. Finance is the function in a business that acquires funds for the firm and manages those funds within the
2. Managing a firm's resources so that it can meet its goals and objectives is the goal of financ
Chapter 15 Distributing Products
1. Organizations that assist in moving goods and services from producers to business and consumer users are
called supply-side transition specialists.
2. Agents and brokers and wholesalers are types of marketing
Chapter 12 Dealing with Employee-Management Issues and
1. Throughout most of American history, the relationship between managers and employees has been fairly
2. Historically, managers were less concerned about productivit
Chapter 09 Production and Operations Management of Goods
1. Currently, manufacturing accounts for only around 70% of U.S. GDP.
2. The 2008 recession greatly affected the state of manufacturing in the U.S., resulting in a slow down
Chapter 05 How to Form a Business
1. The corporation is the most common form of business ownership.
2. The three major forms of business ownership in the U.S. are sole proprietorships, partnerships, and
3. Few people to
Chapter 19 Using Securities Markets for Financing and
1. Securities markets represent the financial marketplaces for stocks and bonds.
2. Securities markets provide private investors a place to buy and sell stocks, bonds
Chapter 14 Developing and Pricing Goods and Services
1. When consumers calculate the value of a product, they look at the benefits and then subtract the cost.
2. Successful businesses constantly monitor consumer wants and needs.
Chapter 07 Management and Leadership
1. Managers utilize organizational resources such as employees, information, and equipment to accomplish
2. The main job of managers today is to watch over people to be sure they do what the manager a
Chapter 16 Using Effective Promotions
1. As a component of the promotion mix, advertising includes each of the activities marketers use to inform
people about products and persuade them to participate in an exchange.
2. A firm's promotion mix r
Chapter 08 Adapting Organizations to Today's Markets
1. Organizing the structure of the company means deciding how many jobs need to be done and who is
responsible for doing them.
2. One reason to reorganize is to become more competitive.
Chapter 06 Entrepreneurship and Starting a Small Business
1. Entrepreneurship involves accepting the risk of starting and running a business.
2. Entrepreneurship is another name for management.
3. Entrepreneurs are less important now
Chapter Bonus D Managing Personal Finances
1. The value of education is often exaggerated when searching for a good job.
2. The average lifetime income of someone with an undergraduate degree is about $1.6 million higher than for
someone with o
Chapter Bonus A Working Within The Legal Environment
1. The executive branch of the government is responsible for overseeing the legal system.
2. The U.S. court system is organized solely at the federal and state levels.
3. Trial cou