Module 1

It is the financial reward that comes from starting and running a business.

.Which of the following statements is true of profit in a business?

technological environment

In the context of a business environment, computers, telecommunications, and other digital tools are considered to be part of the _____.

Land

In the context of factors of production, which of the following is a natural resource?

The balance of power shifted away from producers and toward consumers

In the context of the history of American business, which of the following statements is true of the marketing era?

The assembly line became standard across major manufacturing industries

In the context of the history of American business, which of the following statements is true of the production era?

loss

When a business brings in less money than it needs to cover expenses, it incurs a__________.

The social environment

Which of the following dimensions of a business environment embodies the values, attitudes, customs, and beliefs shared by groups of people?

Population size

Which of the following factors is most likely to be covered by the social environment dimension of a business?

They risk their time, money, and other resources to start and manage their business.

Which of the following is a characteristic of entrepreneurs?