principles of business

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Jeremiah purchases sterling silver necklaces and bracelets form Native American artisans and sells the items to jewelry stores and gift shops. what kind of buyer is Jeremiah (OP:015)

Wholesale

One way in which many businesses demonstrate their social responsibility toward employees is by providing them with

a safe working environment.

In economics, the term capital goods includes (EC:001)

buildings and equipment

Levels of inflation and unemployment are factors that affect __________ in the world market. (EC:016)

competition

A country with a weak currency value tends to (EC:016)

decrease its imports and increase its exports.

One way that technological innovation has changed business is by decreasing the use of (NF:003

paper forms

Alex owns a guitar, several books, a car, and a telescope. Alex's possessions are examples of (EC:009)

private property

Which of the following is a marketing activity: (MK:001)

promoting

According to the marketing concept, which option demonstrates customer orientation? (MK:001)

researching a firm's competitor's

Each purchase strengthens the economy by encouraging (EC:010)

trade

Lack of economic growth is a major problem for __________ economic systems. (EC:007)

traditional

Contractual agreements such as guarantees, surety bonds, and leases are examples of handling business risks through (EC:011)

transfer

What management function is being described in the following situation: David Thomas, a top-level manager, identifies jobs to be performed, assigns responsibility for them, establishes departments to handle the jobs, and determines how many and which employees mid-level managers will supervise. (SM:001)

Organizing

Which of the following is a reason that the role of human-resources management is changing: (HR:410)

There is greater diversity in the workforce

A clothing manufacturer checks one pair of pants out of every shipment to ensure the quality of its product. This process is known as quality on (OP:189)

inspection

Which of the following is a public good that is provided by the government: (EC:008)

interstate highways

One reason that some U.S. businesses have moved some of their operations to foreign countries is to (EC:104)

lower their labor costs.

Which of the following government actions is most likely to stimulate the economy: (EC:008)

lowering tax rates

One internal factor that affects the business environment is (EC:105)

management style


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