Jackson Davis

Introduction to Business
Chapter 6 – Characteristics of Business
Once you have viewed the powerpoint in Canvas, complete the following questions.
Review Business Management Terms – Answers pg 160
1. M
2. I
3. C
4. L
5. Q
6. O
7. H
8. G
9. N
10. K
11. J
12. A
13. D
14. B

Review Business Management Concepts – Answers pg 161

1. C
2. D
3. B
4. D
5. B
6. C

Apply What You Know – Answers pg 161 (Type Questions before the Answers …)
1. Why is the supply and demand of products important to both businesses and consumers?
It’s important because the consumers need the products that the businesses are selling, and the
businesses need to consumers to buy their products to stay in business.
 2. Why do you believe some innovations are successful whereas others are not?
I believe some innovations may be more successful than others based on the planning behind it
and the timing of the innovation.

3. Do you believe that U.S. businesses are getting better at meeting the challenges of global
competition? Why or why not?
I do believe that U.S. businesses are getting are getting better at the challenges of global
competition because they’re reliving that there are alternatives to manufacturing their products in
other countries.

4. Do you believe it is more important for a business to be more effective, be more efficient, or try to
balance both?
I believe it’s important for business to try to find a balance between the two. A good business can
be one of them but a great business can do both.

5. Why do you believe employees would want to work in a business that believes in empowerment
even when it often means more work and responsibility?
I believe employees would want to work for a company the believes in empowerment because
everybody wants to have a say, nobody likes to be told what to do without having any say in it.

Industries Number of business

Trusts & Estates 3,129,465
Hair & Nail Salons 1,205,799
Taxi & Limousine services 1,151,259
Janitorial Services 1,023,877
Hair Salons 959,332
Real Estate Sales & Brokerage 941,877
Performers & Creative Artists 919,609
Credit Counselors, Surveyors & Appraisers 875,348
Direct Selling Companies 860,079
Management Consulting 818,173

Making Academic Connections pg 162 – Question #26

Complete this question using Excel and upload a separate file
OR
Embed your data to this student answer sheet.