Understanding BUS CH.1
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The new era of business is likely to be dominated by the
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Information-based sector
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C. The service sector has generated almost all new jobs in the American economy since the mid 1980s, but the rate of job growth in services has slowed in recent years.
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Which of the following best describes recent job growth in the service sector?
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Company leaders can threaten competitors and minimize competition
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What occurs when corruption is present in the business environment?
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Standard of living
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The amount of goods and services people can buy with the money they have is called their
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Profits of $14 million
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Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this information, Adventure reported
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When businesses sell to other businesses over the Internet, these transactions are known as
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B2B transactions
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Service
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In recent years, almost all new job creation in the United States has occurred in the __________ sector
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The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm's
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Stakeholders
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Discourage entrepreneurship
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High tax rates tend to
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There is less incentive to work hard
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In countries where businesses are government owned
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Measure of the general well-being and satisfaction derived from a variety of factors including political freedom, safety, education, and a clean environment
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Quality of life
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Appliance repair firms, tax consultants, law firms, and insurance companies are all business firms that are part of the
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Service sector
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Minimal government spending because it keeps taxes to a minimum
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Businesses favor
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An activity which seeks to earn a profit by providing a good or service
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Business
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Total amount of money that businesses take in by selling goods and services
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Revenue
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Concern with depletion of natural resources and leaving carbon footprint
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The green movement is
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Entrepreneurship and knowledgeTwo factors of production that seem to contribute the most to a nation's ability to create wealth
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Entrepreneurship and knowledge
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Person who assumes the risk of starting a business
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Entrepreneur
