Exam 1: Business in the United States

Grace loves working with children and plans to start a school for children with disabilities. She would like to invest at least some of the money she makes after expenses back into the school. What kinds of organization structures should she consider? How would you recommend that Grace structure her school for legal purposes?

Robert wants to upgrade his real estate company's computer systems. Which of the following factors of production would Robert find LEAST useful for his project?

Articles of organization are required only for ________.

Assume that you are a business owner who has concerns about the impact of globalization. What is the most practical attitude for you to adopt regarding the trend toward increasing globalization?

Barbara owns a bakery in Boston. When her business reached a certain level of profit, she decided to open three more bakeries in the area. Many businesses, like Barbara's, are able to expand as they earn more profits.

Not all businesses provide a product.

Emma bought an MP3 player and a portable DVD player. These products are called goods because ________.

Labor is a factor of production that refers to any physical or ________ work people contribute to a business's production.

Sandy is a nurse who wants to start a home health care business. She is concerned about the possibility that she could be sued by one of her patients. Which type of business ownership should she avoid?

A ________ seeks primarily to service its community through social, educational, or political means.

Your life is similar to a small company in that it requires careful planning, precise record keeping, and ________.

Which of the following problems is potentially posed by an aging population?

National businesses often serve international markets.

Which of the following refers to an interconnected system of different demographic factors?

Addison wants her new t-shirt store to be environmentally friendly. With the concept of the green economy in mind, which of the following business initiatives would BEST make her business greener?

Which of the following is NOT a stakeholder of a large athletic equipment manufacturer?

What are some of the advantages and disadvantages of globalization for the U.S. economy?

Which of the following factors do multinational companies MOST often look for in a country when they are considering a location for offshore manufacturing?

Baby boomers are an unprofitable demographic target for businesses.

In what way does marriage work like a general business partnership?