Question: i am having trouble with solving this multiple choice questions...
I am having trouble with solving this multiple choice questions with my Intro to Business class. I need the solutions to them:
. Not-for-profit organizations do not face any of the challenges that profit-seeking businesses do.
2. What is business?
a. Business consists of all profit-seeking activities that provide goods and services necessary to an economic system.
b. Business consists of marketing products that people want.
c. The term business only describes companies that are profitable and excludes government or private organizations.
d. Business is defined as activities that produce the most good for society.
3. How are not-for-profit organizations different from profit-seeking businesses?
a. Not-for-profit organizations operate only in the public sector.
b. Not-for-profit organizations focus on goals other than generating profits.
c. Not-for-profit organizations always have a deficit of funds.
d. Not-for-profit organizations hardly focus on social or ethical responsibilities.
4. Capital includes:
a. money that a firm raises for expansion.
b. employees, both current and future.
c. land, building sites, and mineral deposits.
d. technology, tools, information, and physical facilities.
5. Which of the following inputs would NOT be considered a factor of production?
a. Natural resources
c. Human resources
6. The right to _____ is the most basic freedom under the private enterprise system.
b. private property
d. freedom of choice
7. In which of the following ways does the private enterprise system permit fair competition?
a. By encouraging employees to join labor unions
b. By guaranteeing business owners the right to all profits
c. By designing aggressive practices to eliminate competition
d. By allowing the public to set rules for competitive activity
8. For capitalism to operate effectively, the citizens of a private enterprise economy must have certain rights. Which of the following would NOT be considered part of the private enterprise system?
a. Private property
9. In addition to creating jobs and selling products, entrepreneurship also is a great source of _____ in the economy.
10. Identify the business era during which managers began to pay more attention to what consumers wanted and needed rather than simply to what a firm could produce.
a. The marketing era
b. The production era
c. The relationship era
d. The era of industrial revolution
11. A _____ is a partnership formed to create competitive advantage for the businesses involved.
a. joint venture
b. limited partnership
c. strategic alliance
d. transaction relationship
12. A partnership formed to create a competitive advantage for a business involved is an example of:
c. a shakeout.
d. a strategic alliance.