BUS 100 Final exam || with 100% Error-free Solutions.
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Soft drinks and gasoline are products where are only a few sellers and it is market is hard to break into because of high start-up cost. What type of competition are these types of companies involved in? correct answers Oligopoly
If the FED (Federal Reserve) decides to lower the discount rate, w...
BUS 100 Final exam || with 100% Error-free Solutions.
Soft drinks and gasoline are products where are only a few sellers and it is market is hard to break into because of high start-up cost. What type of competition are these types of companies involved in? correct answers Oligopoly
If the FED (Federal Reserve) decides to lower the discount rate, what happens to the money flow
in the US? correct answers More money flows into the economy
China can produce more clothing than any other nation using the same amount of resources so they are said to have what? correct answers Absolute advantage
In Canada, the economic system is one in which the government owns and operates key enterprises that directly affect public welfare such as utilities & healthcare. What type of economic system is this? correct answers Socialism
The quality & quantity of goods & services available to a population. correct answers Standard of living
The quantity of products that consumers are willing to buy at different prices. Consumers will usually buy more if price drops. correct answers Demand
The government uses a "Market basket" of items like housing, transportation, etc. as a measure of inflation that evaluates weighted-average price of goods/services that the average consumer buys each month. What is the statistic called? correct answers CPI (Consumer Price Index)
If you want to know how much the US economy with available resources (relationship of inputs to outputs), what number would you look for? correct answers Productivity
The value of the products that the United States imports is more than the value of the products that are exported. What is this difference called? correct answers Balance of trade
You were told that you either have to terminate one employee or cut all employees' work hours back to 35 hours per week. Neither alternative is a good one. What type of situation is this? correct answers Ethical dilemma
What does the Sarbanes-Oxley act do? correct answers Requires strict reporting requirements in terms of accounting & reporting
Funtime Toys deliberately designed their toy trucks to break quickly in order to shorten the time between consumer repurchases. What is this known as? correct answers Planned obsolescence
NAFTA (North American Free Trade Agreement) is a trading bloc between which countries designed to eliminate trade barriers? correct answers Canada, United States & Mexico The US has implemented a total ban on trade with Cuba. What is this action called? correct answers Embargos
We know the population of the US includes a workforce that is older, and that there are equal number of women and men working. These measureable characteristics are known as what? correct answers Demographics
In this era in the history of business, businesses refined the production process. Jobs became specialized and consumers bought everything that was available. correct answers Production Era
This is measured as a decrease in the Gross Domestic Product (GDP) for 2 consecutive quarters. correct answers Recession
The US government puts a limit on the amount of milk, brooms and tuna that can be imported. What is this called? correct answers Quota
What is a stakeholder? correct answers Anyone affected by the company's actions, products or decisions
Dawn dish soap donates $1 to save wildlife for every bottle of Dawn purchased. What type of marketing is this? correct answers Cause-related marketing
If Sprint Cell phone services were to purchase their competitor, T-Mobile cell phone services, what type of merger would this be? correct answers Horizontal merger
This is a hybrid company with characteristics of both a corporation and partnership that allows taxation as a partnership while offering limited liability for all owners. correct answers Limited Liability Company (LLC)
Which of the following type of business structure has limited liability for all its owners? correct answers Corporation
You decide to open a new convenience store and you need some extra cash but you really want to make all the decision yourself. You reach an agreement with your neighbor who invests $10,000 in exchange for 5% of the profits and no participation in the management of the store. What type of ownership agreement is this? correct answers Limited Partnership
What is the main disadvantage of a sole proprietorship? correct answers Unlimited liability
The students are sleepy during an afternoon class causing interference between teacher's message
and the students understanding of it. This interference is what? correct answers Noise
the manager needs to inform 50 people in the department that the staff meeting has changed from
Monday at 8am to Tuesday at noon. What is the best channel of communication for that? correct answers Email
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