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Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

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Question 111

True/False

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The goal of empowerment in the workplace is to prevent mistakes. Therefore, giving management more control over the actions of lower-level workers will prevent mistakes.

A) True
B) False

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Question 112

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One reason given for the decline in the number of U.S. workers employed in manufacturing is that manufacturing firms in the U.S. have become more efficient.

A) True
B) False

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Question 113

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Airline companies around the world are experiencing increased costs in part due to

An effort to please one group of stakeholders eventually pleases all stakeholders.

Pete is a recent finance graduate who has two passions: music and finance. Upon graduation, he was offered an opportunity to join a struggling rock band with a lot of potential, or a job at a large well-established financial services company. By joining the band, he will forego which of the following?

An increase in productivity indicates that more can be produced in a given time period with the same amount of resources.

Buddy and Pablo are worthy competitors in the bakery business in Baltimore. Buddy recently negotiated a contract with a supplier for really cheap chocolate. He knows that bakery customers want cheap products. In this competitive environment, keeping the price down is all that matters.

Businesses that produce and sell tangible products such as steel and machines are part of the

Businesses collect ________ information on where people live, what they buy, and how they spend their time.

Insourcing creates new jobs, and helps offset the number of jobs being outsourced.

Workers in the island nation of Rainland have enjoyed an increase in the number of holidays and a reduction in the average length of the workday. This has reduced the total number of hours they work each year. However, the output per worker is higher now than it was before the reduction in hours. These facts imply that productivity on the island has increased.

Health care, insurance, recreation, and other intangible products are provided by the

Bart Broekelman recently returned from Afghanistan where he was a member of the highly skilled special operations forces. He is now back home in the United States where he uses the G.I. Bill in order to go to school. This is one example of 

Contemporary governments promote business development by

Nonprofit organizations are similar to for-profit businesses in that they often provide goods and services that satisfy the needs of society.

Globalization has greatly increased living standards around the world.

Which of the following business policies would most likely help a single-parent family?

Effectiveness means producing the desired result.

Tyler Brown recently noticed that he was seeing more Facebook advertisements than he had in the past even though he had not requested any of them. Which of the following best explains why this is happening? 

The continuing increase in the number of U.S. workers in the service sector means that more and more workers are employed in low-wage positions.