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Exam 1: Taking Risks and Making Profits Within the Dynamic Business Environment

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Question 71

Multiple Choice

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Which of the following best describes the main difference between B2B and B2C transactions? B2B transactions:

A) involve transactions where the buyers and sellers are both businesses, while B2C involves transactions between businesses and consumers.
B) focus on financial transactions while B2C e-commerce focuses on the sale of manufactured goods.
C) refer to business between nonprofit organizations while B2C e-commerce is carried out by business firms seeking to earn a profit.
D) involve sales in foreign markets while B2C e-commerce is restricted to domestic markets.

E) A) and B)
F) C) and D)

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Question 72

True/False

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A charitable organization, such as the Red Cross or Salvation Army, is classified as a for-profit organization.

A) True
B) False

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Question 73

Multiple Choice

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Entrepreneurs weigh the differences between the benefits of starting a business and those things that they are likely to forego because they choose to work for themselves. Such things they are likely to pass-up on are:

One of the major advantages to firms involved in e-commerce is that the technology is still so new that the Internet-based firms face very little competition.

Brett runs a lawn care service. Although he and his employees could service eight households in one day, he averages six yards per crewmember, per day. Brett recently restructured his work crew and provided each cutter with an incentive to acquire two new customers each month through customer referrals. As a recent business graduate, you tell him he's probably on the right track.

In countries where businesses are government owned:

The statistical study of the human population to describe its size, age, gender, and income is known as diversity recognition.

Political freedom, quality education, access to health care, and a clean environment are all factors that contribute to an improved quality of life.

Which of the following business policies would most likely help a single-parent family?

The business environment refers to the surrounding factors that either help or hinder the development of businesses.

Businesses are supporting single-parent families with:

Airline companies around the world are experiencing increased costs in part due to .

A business incurs a if its costs and expenses exceed its revenues.

is the amount a business earns after deducting what it spends for salaries and other expenses.

Since all businesses make a profit, starting a business is not risky.

Which of the following is a benefit of owning your own business?

Shelby recently started selling her invention: A bed that looks like it floats in mid- air. The bed is actually suspended by magnetic forces. Shelby is a(n) :

The government of the nation of Bingland is trying to achieve a high quality of life by imposing strict regulations to protect the environment and ensure safe working conditions in factories and mines. The government also has established ambitious programs to help the poor, financing them by setting high tax rates. These efforts by Bingland's government should create an atmosphere that encourages entrepreneurship.

Allowing today's young people to invest part of their Social Security money in personal savings accounts makes sense since in the future less money will be coming into Social Security than will be going out.

With the emergence of the Internet, Jasmine finds it easy to do all her gift buying online. She takes comfort in the fact that new technologies if installed properly are seldom used in unethical ways.