Business Essentials, 14e, Global Edition (Ebert) Chapter 1 The Global Business Environment 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 Question Category: Application of knowledge 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 describes where a firm conducts its operations and derives its revenues? 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 Question 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) At a general level factors such as international trade agreements, economic conditions, and political unrest will have the greatest impact in 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 Question 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.
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