Business Foundations International Edition 3rd Edition by Robert J. Hughes – Test Bank
Chapter 1—An Introduction to Business and Economics
ESSAY
- In your own words, describe what you “bring to the table” as a potential employee of a company that you desire to work for.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
- How can online networking improve your chances of success in the business world?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-1 NAT: AACSB: Communication
TOP: Your Future in the Changing World of Business
- An entrepreneur combines four kinds of resources into a business. What would be the effect on the business if any one were left out?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Communication
TOP: Business: A Definition
- What is profit, and why is it important to a business?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Reflective Thinking
TOP: Business: A Definition
- What three activities must a business perform in order to be successful? Briefly describe each of these and why each is essential to business success.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-2 NAT: AACSB: Analytic
TOP: Business: A Definition
- Explain how the notion of scarcity is related to personal as well as business decision making.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
- Explain how the basic economic questions are answered in capitalistic and command economies.
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
- Why do we say that the U.S. economy is a mixed economy?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
- How does socialism differ from communism?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-3 NAT: AACSB: Reflective Thinking
TOP: Types of Economic Systems
- Why is productivity important? How can a nation’s productivity rate be improved?
ANS:
Answer not provided.
PTS: 1 OBJ: 1-4 NAT: AACSB: Reflective Thinking
TOP: Measuring Economic Performance
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