Which is not among the

changes occurring in the world

economy of the 1980s and
1990s?
Technological changes

Thousands of jobs being created in large corporations

Increasing worldwide competition

All of the above

One of the transformations of business in the new world order is

steady growth in:
agriculture.

the federal government.

large corporations.

none of the above.

The wave of deregulation of the late 1970s changed all of the following
industries except:
trucking.

airlines.

communication.

retail clothing.

The Grameen Bank:

has helped thousands of poor men go into business.

has a poor repayment record.

is based on the idea that capital does not need to be the handmaiden of the rich.

all of the above.

Which of the following is not a reason given for downsizing?

Any company with more employees than necessary has costs that make it
impossible to survive
The need to keep sales at the highest possible level

Opening up our economy to international competition has brought pressure from

low-cost third-world producers
All of the above

The post-industrial society is a country where:

"hippie hardware stores" can be found on every corner.

competition from foreign companies does not exist.

large-scale businesses are no longer as important as they were after the

Industrial Revolution.
all of the above.

Which of the following is the career solution for many underemployed

managers?
Fortune 500 companies

Entrepreneurship

Downsizing

Bangladesh

The practice of using outside firms to perform tasks that could be

performed internally is called:
flexibility.

fragmentation.

"greening."
 outsourcing.

A business that operates as though it has all the customary parts of an

ongoing business, when in fact it may consist of only the entrepreneur
and a file of contacts is called a:
new market.

Fortune 500 company.

virtual organization.

micro-enterprise.

The transformation from "market place" to "market space" is being

caused by the:
development of the World Wide Web.

"green" market opportunities.

downsizing in large organizations.

industrial revolution.

Chapter 1

Which is not among the changes occurring in the world economy of the
1980s and 1990s?
Technological changes

Thousands of jobs being created in large corporations

Increasing worldwide competition

All of the above

One of the transformations of business in the new world order is

steady growth in:
 agriculture.

the federal government.

large corporations.

none of the above.

The wave of deregulation of the late 1970s changed all of the following
industries except:
trucking.

airlines.

communication.

retail clothing.

The Grameen Bank:

has helped thousands of poor men go into business.

has a poor repayment record.

is based on the idea that capital does not need to be the handmaiden of the rich.

all of the above.

Which of the following is not a reason given for downsizing?

Any company with more employees than necessary has costs that make it
impossible to survive
The need to keep sales at the highest possible level

Opening up our economy to international competition has brought pressure from

low-cost third-world producers
All of the above

The post-industrial society is a country where:

 "hippie hardware stores" can be found on every corner.

competition from foreign companies does not exist.

large-scale businesses are no longer as important as they were after the

Industrial Revolution.
all of the above.

Which of the following is the career solution for many underemployed

managers?
Fortune 500 companies

Entrepreneurship

Downsizing

Bangladesh

The practice of using outside firms to perform tasks that could be

performed internally is called:
flexibility.

fragmentation.

"greening."

outsourcing.

A business that operates as though it has all the customary parts of an

ongoing business, when in fact it may consist of only the entrepreneur
and a file of contacts is called a:
new market.

Fortune 500 company.

virtual organization.

micro-enterprise.
 The transformation from "market place" to "market space" is being
caused by the:
development of the World Wide Web.

"green" market opportunities.

downsizing in large organizations.

industrial revolution.

Newspapers, business
periodicals, trade
journals, and
government
publications are:
Sources of information on economic opportunities.

sources of news but not economic data.

poor sources for research because the information is too brief.

all of the above.

Which of the following is NOT an example of serendipity?

Finding a $20 bill on the sidewalk

Barely making it to the airport gate on time and being greeted with the news
that your seat has been upgraded to first class
Starting a business after completing industry research

Taking over a business rather unexpectedly

The relationship between firms and new markets is:

new firms must establish new markets.

new firms usually establish new markets.

new firms seldom establish new markets.

 new firms never establish new markets.

Which of the following is NOT a method of market segmentation?

Benefit

Geographic

Market devolution

All of the above.

Among the barriers to entering an industry are:

trademarks.

switching costs.

status symbols.

all of the above.

The success of Federal Express can be traced to the company's:

innovative hub-and-spoke system of package delivery.

creative contracts with foreign corporations.

long-term government grants for package delivery to the Armed Forces.

lucrative land developments.

When an entrepreneur explores his/her skills, abilities, and interests

as a means of identifying the kind of business to enter, that process is
known as the:
serendipity approach.

"inside-out" approach.
 rational approach.

all of the above.

The "outside-in" approach to starting a business is also called:

low-cost strategy.

new-product option.

switching costs.

opportunity recognition.

Product quality is only one of the possible bases upon which to build a
business using what strategy?
Focus

Differentiation

Low-cost

All of the above

Many entrepreneurs choose to start businesses by themselves

because:
they want uncontested control.

coordination is less complicated.

profits will go to only the founder.

all of the above