Business Foundations International Edition 2nd Edition by Robert J. Hughes – Test Bank
Chapter 1—Exploring the World of Business and Economics
ESSAY
- In your own words, describe four reasons why someone should study business.
ANS:
Answer not provided.
PTS: 1 DIF: Easy REF: OBJ: 1-1
NAT: AACSB: Reflective Thinking TOP: Your Future in the Changing World of Business
- Explain how you can improve your course grade and become more successful in this course.
ANS:
Answer not provided.
PTS: 1 DIF: Easy REF: OBJ: 1-1
NAT: AACSB: Reflective Thinking TOP: Your Future in the Changing World of Business
- What is profit and why is it important to a business?
ANS:
Answer not provided.
PTS: 1 DIF: Moderate REF: OBJ: 1-2
NAT: AACSB: Reflective Thinking TOP: Business: A Definition
- Explain how an entrepreneur could use the factors of production to start a successful small business.
ANS:
Answer not provided.
PTS: 1 DIF: Moderate REF: OBJ: 1-3
NAT: AACSB: Reflective Thinking TOP: Types of Economic Systems
- Explain how the basic economic questions are answered in the capitalistic and command economies.
ANS:
Answer not provided.
PTS: 1 DIF: Moderate REF: OBJ: 1-3
NAT: AACSB: Analytic TOP: Types of Economic Systems
- Why do we say that the U.S. economy is a mixed economy?
ANS:
Answer not provided.
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