Information-based sector |
The new era of business is likely to be dominated by the |
Which of the following best describes recent job growth in the service sector? |
C. The service sector has generated almost all new jobs in the American economy since the mid 1980s, but the rate of job growth in services has slowed in recent years. |
What occurs when corruption is present in the business environment? |
Company leaders can threaten competitors and minimize competition |
The amount of goods and services people can buy with the money they have is called their |
Standard of living |
Last year, Adventure Enterprises reported revenues of $24 million while its total expenses were $10 million. Based on this information, Adventure reported |
Profits of $14 million |
B2B transactions |
When businesses sell to other businesses over the Internet, these transactions are known as |
In recent years, almost all new job creation in the United States has occurred in the __________ sector |
Service |
Stakeholders |
The customers, employees, stockholders, suppliers, creditors, and others who stand to gain or lose by the policies and activities of a business represent the firm’s |
High tax rates tend to |
Discourage entrepreneurship |
In countries where businesses are government owned |
There is less incentive to work hard |
Quality of life |
Measure of the general well-being and satisfaction derived from a variety of factors including political freedom, safety, education, and a clean environment |
Service sector |
Appliance repair firms, tax consultants, law firms, and insurance companies are all business firms that are part of the |
Businesses favor |
Minimal government spending because it keeps taxes to a minimum |
Business |
An activity which seeks to earn a profit by providing a good or service |
Revenue |
Total amount of money that businesses take in by selling goods and services |
The green movement is |
Concern with depletion of natural resources and leaving carbon footprint |
Entrepreneurship and knowledge |
Entrepreneurship and knowledgeTwo factors of production that seem to contribute the most to a nation’s ability to create wealth |
Entrepreneur |
Person who assumes the risk of starting a business |
Understanding BUS CH.1
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