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Test Bank for Business Essentials, 13th Edition

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1Business Essentials, 13e(Ebert/Griffin)Chapter 1The U.S. Business Environment1) Which of the following best describes profit?A) Total money taken in by a corporationB) Increases in income from year to yearC) Increases in acorporation's stock priceD) Revenue generated by goods and servicesE) Difference between revenues and expensesAnswer:EDifficulty:ModerateAACSB:Application of knowledgeQuestion Category:ApplicationLO: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 andderives its revenues knownas?A) Global business environmentB) Economic environmentC) Domestic business environmentD) Technological environmentE) Political-legal environmentAnswer:CDifficulty:ModerateAACSB:Application of knowledgeQuestion Category:ConceptLO: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 willhave the greatest impact on which type of business environment?A) Global business environmentB) Economic environmentC) Domestic businessenvironmentD) Technological environmentE) Political-legal environmentAnswer:ADifficulty:ModerateAACSB:Application of knowledgeQuestion Category:ConceptLO: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.

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Document Details

Subject
Business Management
Textbook
Business Essentials by Ronald J. Eb...

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