BUS 100 QUIZ 1 (3)

BUS 100 QUIZ 1 (3)

Author: Christine Farr


As competition has become truly global, free trade has resulted in ____ prices and ____ quality across virtually every product category.

Human resources include the

Entrepreneurs need economic freedom to thrive. Those freedoms include

____ refers to differences in gender, age, religion, and nationality that affect the workforce.

Successful firms of today would

To be successful, entrepreneurs must be comfortable risking their money and _____ to start and manage a business.

The relationship era introduced the idea

The S&P 500 attributes an increase in the annual rate of return for firms in 2009 to

_____ refers to the quality and quantity of products and goods available to a population at a given time.

Nonprofit organizations are not in the business of

A corporation must register as a _____ in every state in which it operates other than its state of incorporation.

A _____ is a voluntary agreement between two or more people to jointly own a business.

A(n) _____ occurs when two companies agree to combine operations to form a new company.

The majority of businesses today are formed as

A key advantage of a corporation is that

From the standpoint of an owner, a major advantage of the sole proprietorship is the:

Not all corporations are large.  In recent years, about 24 percent of corporations have reported less than _____ in total sales revenue.

In the United States, _____ are the dominant form of business ownership in terms of net income.

A(n) _____ merger is the combination of two or more firms at different stages of production of a given product or service, so the firms have a buyer-seller relationship.

A _____ maintains limited liability but offers more flexibility in terms of tax treatment than other forms of business ownership.

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