Quiz 1 on Chapter 1

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* Question 1
5 out of 5 points

Entrepreneurs need economic freedom to thrive. Those freedoms include:Answer Selected Answer: freedom of choice, freedom from excess regulation, and freedom from too much taxation. Correct Answer: freedom of choice, freedom from excess regulation, and freedom from too much taxation.

* Question 2
5 out of 5 points

Which of the following is not considered a natural resource_____Answer Selected Answer: soybeans.
Correct Answer: soybeans.

* Question 3
5 out of 5 points

In order to effectively compete many companies have taken proactive steps to hire and nurture people from broad range of backgrounds. This is an example of which business environment?Answer
Selected Answer: social
Correct Answer:social

* Question 4
5 out of 5 points

Nonprofit organizations are commonly known for supporting:Answer Selected Answer: the arts industry.
Correct Answer: the arts industry.

* Question 5
5 out of 5 points

Business transactions that occur online are examples of _____Answe Selected Answer: e-commerce.
Correct Answer:|e-commerce.

* Question 6
5 out of 5 points

Entrepreneurs:Answer
Selected Answer: create benefits for others while seeking profit for themselves. Correct Answer: create benefits for others while seeking profit for themselves.

* Question 7
5 out of 5 points

The core goal of business is to generate long-term _____ by delivering _____ to their customers.Answer Selected Answer: profit, value
Correct Answer:profit, value

* Question 8
5 out of 5 points

A business’s core goal is to generate long term profits while delivering _____to its customers.Answer Selected Answer: value
Correct Answer:value

* Question 9
5 out of 5 points

_____ boomed as mass production took hold during the Industrial Revolution.Answer Selected Answer: Factory...
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