Factors of Production and Correct Answer

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  • Topic: Factors of production, Profit, Capital
  • Pages : 2 (337 words )
  • Download(s) : 139
  • Published : May 12, 2013
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Question 1 .5 out of 5 points

Correct 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 2 .5 out of 5 points

Correct 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 3 .5 out of 5 points

Correct During the marketing era consumers found:
Answer
Selected Answer: more choices for goods and services.
Correct Answer: more choices for goods and services.

. Question 4 .5 out of 5 points

Correct As competition has become truly global, free trade has resulted in _____ prices and _____ quality across virtually every product category. Answer
Selected Answer: lower, higher
Correct Answer: lower, higher

. Question 5 .5 out of 5 points

Correct All of the following are basic freedoms encouraging entrepreneurship EXCEPT_____ Answer
Selected Answer: freedom of guaranteed profits
Correct Answer: freedom of guaranteed profits

. Question 6 .5 out of 5 points

Correct The marketing era introduced _____
Answer
Selected Answer: the marketing concept.
Correct Answer: the marketing concept.

. Question 7 .5 out of 5 points

Correct 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 8 .5 out of 5 points

Correct The relationship era introduced the idea:
Answer
Selected Answer: that cultivating current customers is more profitable than constantly seeking new ones. Correct Answer: that cultivating current customers is more profitable than constantly seeking new ones.

. Question 9 .5 out of 5 points...
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