305. Businesses that produce and sell tangible products such as steel and machines are part
of the:
306. The service industry represents ________ of the value of the U.S. economy.
307. Health care, insurance, recreation and other intangible products are provided by the:
308. Since the beginning of the 1900s, the agricultural sector of the United States has:
309. In recent years, almost all new job creation in the U.S. has occurred in the __________
sector.
310. The new era of business is likely to be dominated by the:
311. Appliance repair firms, tax consultants, law firms, and insurance companies are all
business firms that are part of the:
312. In recent years, manufacturing firms in the U.S. have laid off workers. The best
explanation of this trend is that:
313. Which of the following best describes recent job growth in the service sector?
314. Which of the following organizations is an example of the goods-producing sector of the
economy?
315. Certain industries of the U.S. economy such as farming and heavy equipment
manufacturing have experienced a significant decline in employment. Which of the following best
explains this job loss?
316. Jenna Leigh is an information savvy, 20-something person who is trying to select between
two marketing job offers. She can either join a company that makes small hammers and
screwdrivers for the DIY hardware store business, or she can join a company developing the LTE
phone service. She is quite impressed that the hardware business is growing quite nicely in
China, Mexico, and India, where people are starting to expand their living spaces. She is also
aware of:
Mini-Case
Sergio Gonzales is employed by Bigbux National Bank, one of the largest banks in the Midwest.
He is a loan officer, specializing in home equity loans. Tio Raul, Sergio’s favorite (and wealthiest)
uncle, passed away last month and left Sergio a sizable amount of money. Sergio is looking at the
best way to invest his newly acquired wealth. He is considering many options, ranging from
simply putting the money into a savings account to the possibility of starting his own business.
Although his bank job pays well and offers pleasant working conditions, Sergio is frustrated
because he has little freedom or flexibility to deal with customers since every decision he makes
must be approved by his supervisor. Besides, he’s a bit bored and looking for a challenge. He
thinks he might get a lot of satisfaction from owning his own business. Sergio has not made a
definite decision yet, but has talked to a lot of people searching for a good idea for a new
business. If he can come up with an idea he likes, he might just quit his current job and use his
inheritance to go into business for himself!
317. As he explores his options, Sergio notices that some opportunities appear to be riskier
than others. When considering various opportunities, Sergio should keep in mind that:
318. Sergio’s frustration with his lack of freedom and flexibility at work indicates that Bigbux:
319. Two of his friends approached Sergio with a proposal to start a language school. Sergio is
fluent in English and Spanish, and also has an education degree. Sergio is strongly considering
the idea but also wants to know if there is a growing demand for his services. He learns that an
important demographic trend is:
320. As he explores his options for starting a new business, Sergio has looked into the tax
implications and government regulations that he would encounter. He wants to maintain an office
in a different location from his home. He has discovered that some nearby communities offer tax
credits and lower taxes than his town. Sergio‘s decision will be influenced by the:
321. If Sergio starts his own business, his firm’s activities and policies will impact many
different groups and individuals, including employees, customers, creditors, suppliers, and people
living in the community where his business is located. Which of the following statements
represents how Sergio should deal with these various groups? Sergio should:
322. Describe several ways that governments can foster entrepreneurship and encourage the
creation of wealth.
323. Describe how businesses can use technology to be more responsive to customers.
324. Competition among businesses has never been greater. Identify and describe several
ways that businesses can become more competitive.
325. What is demography? Identify several demographic trends in the United States and
discuss how they will impact U.S. businesses.
326. Describe what we mean by greening and thinking green. List several ways that people
and businesses are participating in the green movement. List business opportunities that may
emerge from this movement.
327. Trace the evolution of American business. Identify the key trends, and discuss the
implications these trends have for the future.
