Your life is similar to a small company in that it requires careful planning, pr
ID: 2465324 • Letter: Y
Question
Your life is similar to a small company in that it requires careful planning, precise record keeping, and ________.
2.
Emma bought an MP3 player and a portable DVD player. These products are called goods because ________.
3.
Which of the following events would MOST likely change the racial demographic of a population?
4.
Barbara owns a bakery in Boston. When her business reached a certain level of profit, she decided to open three more bakeries in the area. Many businesses, like Barbara's, are able to expand as they earn more profits.
5.
Leroy owns a small hardware store that is known for its high level of customer service. A large chain home improvement store has just opened up in his community. Which of the following would BEST help Leroy deal with his new competitor?
6.The private enterprise system assumes that competition benefits consumers.
7.
Patricia owns a small electronics store in a rural area. She carries two different brands of weather radios that are equally priced. One model is selling well, but the other does not seem to be attracting customers. What should Patricia do?
8.
Who is legally responsible for protecting the privacy of consumer information that businesses store online?
9.
An Old Navy store is an example of a ________ business.
10.
Globalization is recognized by all as a force for good in the U.S. economy.
a good memoryExplanation / Answer
Answers are as follows:
1. Openness to change is important in business and in life because both contain unpredictable events.
2. they are physical or tangible products
3. an influx of immigrants :Immigrants to a country tend to be of a different racial or ethnic background than that of a country's majority population. Therefore, an influx of immigrants would be most likely to affect the racial composition of a country's population.
4. True : Profit is the money left over after expenses are paid out of revenues. This money can be reinvested in the business in a variety of ways, including opening new retail locations, upgrading equipment, and hiring additional employees.
5.Advertise aggressively to increase consumer awareness of his reputation for service.
6. True : Private enterprise system is based on the assumption that when businesses are free to compete with one another, consumers will benefit.
7.Reduce the price of the model that is not selling well.
8. BUSINESS OWNERS : IT is the responsibility of businesses who store personal information of consumers to take measures to protect consumers' online privacy.
9.National : Stores like Old Navy are considered national businesses in that they have many locations throughout the United States but do not serve an international market.
10. False
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