This document contains multiple choice questions about business concepts. It addresses topics like the goals of business, defining entrepreneurship, factors that affect new business growth for aging populations, and socially responsible behavior by consumers and workers. It also mentions concepts like free trade, risk taking, competitive advantages, demographic factors in marketing, and economic impacts of alternative energy sources.

1. Buy here:
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The core goal of business is to generate long-term __________by delivering
___________ to their customers.
A __________ is any activity that provides goods and services in an effort to earn a
profit.
As aging baby boomers retire, companies will:
As competition has become truly global, free trade has resulted in __________ prices
and __________ quality across virtually every product category.
Business transactions that occur online are examples of:
To be successful, entrepreneurs must be comfortable risking their money and
__________ to start and manage a business.
During the relationship era, businesses concentrated on:
As life spans increase and birthrates decrease, the working population will decrease
while the number of retirees will increase. One example of new business growth
reflecting this market might be a(n):

2. Which of the following statements represents how consumers and workers react to
socially responsible behavior by business?
Business will incur a __________ when expenses are higher than revenue.
All of the following are basic freedoms encouraging entrepreneurship EXCEPT:
John Blue has started his own Internet business, Blueways.com, offering online
ordering of refurbished computer parts. His business has experienced a slower than
usual start due to higher than expected costs for capital resources. Those expenses
include:
Lisa is a marketing consultant who is trying to help a regional company design an
advertising campaign that will appeal to the local population. Her report should take
into account __________ factors such as the age, income, and ethnic composition of
the area's population.
Entrepreneurs participate in __________ business environments.
Leading edge businesses maintain a competitive advantage by introducing products:
Michael has inherited $500,000 from the sale of a family business. His banker is
advising him to find multiple banks to deposit his money. Why?
Competition among businesses:
A market structure with pure competition has all of the following characteristics
EXCEPT:
If low-cost solar power were to become a viable energy source in households across
the U.S., what would be the economic impact on energy prices?

3. Economics is divided into two core areas of study known as:
The debt ceiling is:
Why is a low level of inflation desirable in an economy, and why is deflation not
desirable?
The economy, as a system, represents the:
__________ refers to government efforts to influence the economy through taxation
and spending decisions designed to encourage growth, boost employment, and curb
inflation.
The main economic goal of the government in a socialist economy is to: