TEST
PLANNING TABLE FOR CHAPTER 1
Learning Goal | LL:1 Knows | LL:2 Understands | LL:3 Applies |
1. | 1,2,3,4,5,6,7,8,9,10, 11,12,13,14,15,16,17 18,19,20,21,22,23,24, 176,177,178,179,180,181,182,183,184,185,186,187 | 25,26,27,28,29,30,31, 32,33, 188,189,190,191,192,193,194,195,196,197 | 34,35,36,37,38,39, 40,41,42,43, 198,199,200,201, 202,203,204, 221, 326, 330 |
2. | 44,45,46,47,48,49,50,51,52,53,54,55, 205,206,207,208, 209,210,211,212 | 57,58,59, 213,214,215,216,217, 218 | 60,61,62, 219,220,222, 223,224~, |
3. | 56,63,64,65,66,67,68,69,70,71,72, 225,226,227,228,229,230 | 73,74, 231,232,233,234 | 75,76, 235,236,237,238~, 320, 329* |
4. | 77,78,79,80,81,82,83,84,85,86,87,88,89,90, 91,92,93,94, 239,240,241,242,243,244,245,246,247,248,249,250,251,252 | 95,96,97,98, 253,254,255 | 99,100,101,102,103,104, 256,257,258,259, 260,261,262,263, 321 |
5. | 105,106,107,108,109,110,111,112,113, 264,265,266,267 | 114,115,116, 268,269,270 | 117,118, 271,272,273,274, 322, 327* |
6. | 119,120,121,122,123,124,125,126,127,128,129,130, 275,276,277,278,279,280,281,282,283 | 131,132,133,134,135,137 284,285,286,287 | 136,138, 288,289,290, 323, 328* |
7. | 139,140,141,142,143,144,145,146,147,148,149,150, | 151,152,153,154, 297,298,299,300, | 155,156,157,158, 301,302,303,304,305,324, |
8. | 159,160,161,162,163,164,165,166,167,168,169,170, 306,307,308,309,310,311,312 | 171,172,173, 313,314,315 | 174,175, 316,317,318,319, 325 |
Total number of
test items: 330
True/false questions
are in plain text.
Multiple choicequestions are in bold
text.
Questions on boxed material
are in bold text with a tilde~.
Essayquestions are in bold
underlined text.
Minicase questions
are in bold with an asterisk*.
True / False Questions
1. Businesses provide goods, jobs, and services to
others.
True False
2. Businesses seek to earn a profit by providing goods
and services to others.
True False
3. Revenue is the amount a business earns above and
beyond what it spends for expenses and costs.
True False
4. Profit is the amount of money a business earns
above and beyond what it spends for salaries and other expenses.
True False
5. Since all businesses make a profit, starting a
business is not risky.
True False
6. An entrepreneur risks time and money to start and
manage a business.
True False
7. If a business’s costs and expenses are greater than
its revenue, it will suffer a loss.
True False
8. Profits of a business include the salaries paid to
its employees.
True False
9. Revenue is the total amount of money a business
takes in during a given period by selling goods and services.
True False
10. Risk is the chance an entrepreneur takes of losing
time and money on a business that may not prove profitable.
True False
11. The United States has one of the highest standards
of living in the world.
True False
12. The term “standard of living” refers to
the amount of debt people can incur on a given income.
True False
13. Health care availability, a clean environment, and
good schools all contribute to a high quality of life.
True False
14. Maintaining a high quality of life requires the
combined efforts of businesses, nonprofit organizations, and government
agencies.
True False
15. Stakeholders are all the people who stand to gain
or lose by the policies and activities of a business.
True False
16. Stakeholders include customers, employees,
stockholders, suppliers, dealers, bankers, government officials and
environmentalists.
True False
17. Often the needs of a firm’s various stakeholders
will conflict.
True False
18. Outsourcing means selling goods and services to
people in other countries.
True False
19. Outsourcing has caused many complications in many
states where jobs have been lost to overseas companies.
True False
20. “Insourcing” refers to the practice of
global companies setting up design and production facilities in the United
States.
True False
