Quiz 1

Topics: General Agreement on Tariffs and Trade, Economics, Factors of production Pages: 3 (343 words) Published: November 4, 2012
* Question 1
5 out of 5 points
| |
| Entrepreneurs are commonly characterized as:Answer | | | | | Selected Answer:|    risk takers and decision makers.| Correct Answer:|    risk takers and decision makers.|
| | | |
* Question 2
5 out of 5 points
| |
| The hard sell or aggressive persuasion designed to separate consumers from their cash emerged during the _____Answer | | | | | Selected Answer:|    production era|
Correct Answer:|    production era|
| | | |
* Question 3
5 out of 5 points
| |
| To be successful entrepreneurs must be comfortable risking their money and _____ to start and manage a business.Answer | | | | | Selected Answer:|    time|
Correct Answer:|    time|
| | | |
* Question 4
5 out of 5 points
| |
| In 1995, a renegotiation of the General Agreement on Tariffs and Trade (GATT) took bold steps to lower tariffs and to reduce trade restrictions. A tariff is a:Answer | | | | | Selected Answer:|    tax on imports.|

Correct Answer:|    tax on imports.|
| | | |
* Question 5
5 out of 5 points
| |
| The four major categories of factors of production are:Answer | | | | | Selected Answer:|    natural resources, capital, human resources, and entrepreneurship.| Correct Answer:|    natural resources, capital, human resources, and entrepreneurship.|

| | | |
* Question 6
5 out of 5 points
| |
| In the relationship era, firms began to recognize that cultivating current customers is more profitable than constantly _____Answer | | | | | Selected Answer:|    seeking new customers.|

Correct Answer:|    seeking new customers.|
| | | |
* Question 7
5 out of 5 points
| |
| During the marketing era consumers found:Answer | | | | | Selected Answer:|    more choices for goods and services.| Correct Answer:|    more choices for goods and services.|
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* Question...
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