Test Bank For Business Essentials, 13th edition Ronald J. Ebert, Ricky W. Griffin Chapter 1-17
Chapter 1 The U.S. Business Environment AACSB: Application of knowledge 1) Which of the following best describes profit? A) Total money taken in by a corporation B) Increases in income from year to year C) Increases in a corporation's stock price D) Revenue generated by goods and services E) Difference between revenues and expenses Answer: E Difficulty: Moderate AACSB: Application of knowledge Quest. Category: Application LO: 1.1: Define the nature of U.S. business, describe the external environments of business, and discuss how these environments affect the success or failure of organizations. 2) Which of the following is defined as the environment where a firm conducts its operations and derives its revenues known as? A) Global business environment B) Economic environment C) Domestic business environment D) Technological environment E) Political-legal environment Answer: C Difficulty: Moderate AACSB: Application of knowledge Quest. Category: Concept LO: 1.1: Define the nature of U.S. business, describe the external environments of business, and discuss how these environments affect the success or failure of organizations. 3) Factors such as international trade agreements, economic conditions, and political unrest will have the greatest impact on which type of business environment? A) Global business environment B) Economic environment C) Domestic business environment D) Technological environment E) Political-legal environment Answer: A Difficulty: Moderate AACSB: Application of knowledge Quest. Category: Concept LO: 1.1: Define the nature of U.S. business, describe the external environments of business, and 1 Copyright © 2022 Pearson Education, Inc.