24-25 Business Foundations Midterm

Which of the following eras is known for focusing on customer relationships and brand loyalty?

• Production Era
• Relationship Era
• Marketing Era
• Industrial Revolution

The rise of influential business leaders and monopolies occurred during which era?

• Entrepreneurship Era
• Industrial Revolution
• Marketing Era
• Production Era

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

• Natural Resources
• Capital
• Human Resources
• Entrepreneurship

The competitive environment is best described as:

• The availability of raw materials.
• The market where businesses compete for customer loyalty.
• The technological advances that affect business operations.
• The societal trends that influence business decisions.

Which of the following is NOT considered a factor of production?

• Natural Resources
• Human Resources
• Marketing
• Capital

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

• Production Era
• Marketing Era
• Relationship Era
• Entrepreneurship Era

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

• Social Environment
• Economic Environment
• Competitive Environment
• Technological Environment

Which of the following best describes the role of entrepreneurship in business?

• Innovating and taking risks to start new ventures.
• Providing labor and skills.
• Investing financial resources.
• Supplying raw materials.

Which of the following is an example of monetary policy?

• Increasing income taxes
• Adjusting interest rates
• Lowering tariffs on imports
• Increasing government spending

What is the primary goal of fiscal policy?

• To stabilize the stock market
• To control inflation
• To achieve full employment and control inflation
• To regulate the money supply