Chapter One
Business Now: Change Is the Only Constant

Review Questions

1. What factors contribute to the rapid pace of change in business? Is the pace likely to accelerate or decrease over the next decade? Why?

2. What role does entrepreneurship play in the economy? Who stands to gain from the success of individual entrepreneurs? How do other parties benefit?

3. When did American business begin to concentrate on customer needs? Why?

4. How do nonprofit organizations compare to businesses? What role do nonprofits play in the economy? How do they interact with businesses?

5. What are the factors of production? How can economies grow when one or more of the factors is weak?

6. What are the 5 dimensions of the business environment? Discuss the key elements in each area as they relate to U.S.-based businesses.

|Dimension of Business Environment |Key Elements |
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