Satellite Communications Jonathan Worked for Satellite Communications for Twenty Years. in the in the Time

question 205

Multiple Choice

Satellite Communications
Jonathan worked for Satellite Communications for twenty years. In the time that he worked there, he learned a lot about the company and how it operated. The company met its sales and revenue goals every year. However, most of the employees had similar educational and cultural backgrounds. He believed that the company could do much better if it cultivated an environment that promoted many different ideas. Additionally, Satellite Communications was mostly focused on how much revenue it earned in a given year. Jonathan felt that the most important goal should be to satisfy customers. He believed financial success would result from focusing on customers.
After a lot of consideration, Jonathan decided to open his own business called Universal Communications and hire employees that reflected a more diverse customer base. He was happy to have this opportunity because it was a dream that he had always had. He had always wanted to make his own decisions about what his company would produce and how. The only aspect of the business he was unsure of was pricing, yet he knew this would be important for his ultimate success.
-Refer to Satellite Communications. Now that Jonathan plans to open his own business, he needs to look at the factors of production. Which of the following is not a factor of production?

• A) Labor
• B) Capital
• C) Land
• D) Demand
• E) Entrepreneurship

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Definitions:

Vibrate Mode

A setting on mobile phones and other devices that makes the device shake to notify the user of an incoming call or message, without emitting sound.

Primacy Effect

A psychological principle that items or information presented first are remembered better than those appearing later.

Career Apparel

Clothing specifically designed and worn for work, often reflecting the professional image or standards of a particular occupation.

Primacy Effect

The tendency to remember information from the beginning of a list or sequence better than information that comes later.