24-25 Business Foundations Midterm

Front

Which of the following eras is known for focusing on customer relationships and brand loyalty? Options: Production Era, Relationship Era, Marketing Era, Industrial Revolution

Back

Relationship Era

Front

The rise of influential business leaders and monopolies occurred during which era? Options: Entrepreneurship Era, Industrial Revolution, Marketing Era, Production Era

Back

Entrepreneurship Era

Front

Which factor of production refers to the financial resources used to start and run a business?

Back

Capital

Front

The competitive environment is best described as:

Back

The market where businesses compete for customer loyalty.

Front

Which of the following is NOT considered a factor of production? Natural Resources, Human Resources, Marketing, Capital

Back

Marketing

Front

The shift from a focus on production efficiency to customer orientation occurred during the:

Back

Marketing Era

Front

The environment that includes population trends and changing cultural norms is known as the:

Back

Social Environment

Front

Which of the following best describes the role of entrepreneurship in business? Options: Innovating and taking risks to start new ventures., Providing labor and skills., Investing financial resources., Supplying raw materials.

Back

Innovating and taking risks to start new ventures.

Front

Which of the following is an example of monetary policy? Increasing income taxes, Adjusting interest rates, Lowering tariffs on imports, Increasing government spending

Back

Adjusting interest rates

Front

What is the primary goal of fiscal policy?

Back

To achieve full employment and control inflation