Exam 1: Business in the United States

In a business environment, the term "minority" applies to more than just people of different ethnicities. Minority groups represent all of the following EXCEPT ________.

The economy of the United States is ________.

Tom is a college senior who would like to get a green collar job when he graduates. Which of the following positions is he LEAST likely to apply for?

The physical products that a business offers are called ________.

Patricia owns a small electronics store in a rural area. She carries two different brands of weather radios that are equally priced. One model is selling well, but the other does not seem to be attracting customers. What should Patricia do?

Chris orders a salad at a restaurant. What is the BEST definition of what he is buying?

As more profit is generated, a company is able to increase its productivity.

Identify and discuss challenges faced by local, regional, and national businesses.

Which of the following poses the MOST COMMON financial threat to local and regional businesses?

Competition affects companies in all of the following ways EXCEPT ________.

Which of the following would MOST likely be part of a company's diversity initiative?

Which of the following is NOT an advantage of technology?

Juan was just laid off from his job as a maintenance supervisor at a manufacturing plant. His severance package was not very generous, and he realizes that his large family cannot live on his unemployment compensation. Juan needs to make more money right away, so he is planning to start his own commercial cleaning service while he searches for a corporate job. What business structure would you recommend to Juan?

Car insurance is an example of a good.

Which of these characteristics is NOT applicable to a multinational company?

Competition arises when two or more businesses contend with one another to attract customers and gain an advantage.

Humberto is a supply chain manager for a multinational company. Which of the following challenges should he be LEAST concerned about?

Real capital refers to the money used to facilitate a business enterprise.

Who is legally responsible for protecting the privacy of consumer information that businesses store online?

John just quit his job and plans to open a carpet sales and installation business that will probably involve hiring workers to help him. What are the options John should consider in structuring his business? What business structure would you recommend to John?