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Exam 1: Business Now: Change Is the Only Constant

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Question 81

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During the Industrial Revolution, Henry Ford introduced the assembly line, which quickly became standard across major manufacturing industries.

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Question 82

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In which of the following ways does the growth in ethnic populations impact businesses?

A) They reduce the performance of the business as a whole due to incompetence.
B) They offer a robust profit potential for firms that pursue them.
C) They cause an increase in business expenditures for training.
D) The business improves as ethnic population is known to be more competent.

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Question 83

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Excellent products and superb top management play no role in employee satisfaction.

Megan's parents want her to become an accountant after she graduates from college. However, Megan wants to start her own cupcake store. To boost her chance of personal success, experts are most likely to advise Megan to:

Cosmetico Inc. is launching a line of low­priced, single­use packs of lotion, shampoo, and toothpaste targeted at consumers in poor countries who do not have access to these products. Cosmetico's products directly increase the _____ of these customers.

Fred operates two wellness spas in the Miami area. The company employees work hard to develop long­term relationships by calling customers to make sure that they are satisfied with their recent visits to the spas and offer to host free wellness evaluations. Fred is using concepts that were popularized during the:

John Blue has started his own Internet business, Blueways.com, an e­store that sells refurbished computer parts. His business has experienced a slower than usual start due to higher than expected costs for capital resources. Those expenses include:

As aging baby boomers retire, companies will:

When providing products and services, the primary goal of nonprofit organizations is to ensure community interests are addressed.

People can create natural resources by growing and harvesting agricultural products.

Businesses and nonprofit organizations rely on factors of production to achieve their objectives.

During the marketing era consumers found:

During which era did businesses begin to dominate their markets, forcing out competitors, manipulating prices, and exploiting workers, which lead the government to pass laws regulating business?

_____ is an entrepreneurial "must."

During the Industrial Revolution, the production process shifted from skilled artisans working in small workshops to semiskilled workers employed in huge factories.

Although Russia is rich in human resources and natural resources, the country ranks relatively low in terms of gross national income per person. The missing ingredient seems to be lack of entrepreneurship due to:

Samuel lives in a community where many residents are retirees. He wants to open an exercise facility specifically for citizens who are 65 or older. Samuel knows that starting a new business will require a large amount of work and entails risk, but given the large number of senior citizens in the area, he believes he should be able to sell enough memberships to make a profit. Samuel is a(n) _____.

As life spans increase and birthrates decrease, the working population will decrease while the number of retirees will increase. One example of new business growth reflecting this market is a(n) :

Nonprofit organizations contribute to their region's economic stability and growth.

Explain how e­commerce has allowed businesses to tap into the worldwide community of potential customers.