Quiz Chapter 1

In the context of the technological environment of business, which of the following statements is true of online technology?

Alternative selling strategies give rise to a more individualized buying experience.

In the context of the technological environment of business, which of the following statements is true of e-commerce?

Business-to-business selling comprises the vast majority of total e-commerce sales

In the context of ethics and social responsibility, which of the following has become a core issue in the marketplace?

Doing business today without harming the ability of future generations to meet their needs

Lewis Gretsz, the owner of a small railroad company in the 1860s, started gaining more influence and money as his business started to flourish to a point where he began controlling the entire northern half of railroad services. He followed a ruthless and cunning business strategy that involved exploiting workers and decimating the environment. In the context of the history of American business, Lewis Gretsz most likely belonged to the _____.

Entrepreneurship Era

In the context of the social environment of business, which of the following statements is true of workers?

Firms encourages great level of mutual respect between employees and employers through open communication.

Which of the following is an example of a nonprofit organization?

Hollorg, a community museum that is funded by a trust and is free for public use

Children's Campground is a summer program for school children. It advertises that there is one counselor for every four children and that several other highly-trained professionals are part of its staff. Children's Campground advertisements indicate that the program relies heavily on its _____ factor to provide its services.

Human Resources

In the context of the history of American business, which of the following statements is true of the industrial revolution?

There was a loss of individual ownership in the production process.

Which of the following is a difference between the millennial generation and Generation Z?

Unlike the millennial generation, Generation Z approaches adulthood planning to work for success.

In the context of the dimensions of the business environment, which of the following is true of the competitive environment?

Vocal promoters of a firm's products can get the firm new customers effectively.