BUSN 201 MIDTERM Exam Questions With Revised Answers
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Course
BUSN 201
Institution
BUSN 201
BUSN 201 MIDTERM Exam Questions With
Revised Answers
Define internal risk. Provide an example. - answerFailure of the business. Ex: Bankruptcy
Define external risk. Provide an example. - answerThe negative externalities when a business
fails. Ex: employees or lenders not being paid, possibility...
BUSN 201 MIDTERM Exam Questions With
Revised Answers
Define internal risk. Provide an example. - answer✔✔Failure of the business. Ex: Bankruptcy
Define external risk. Provide an example. - answer✔✔The negative externalities when a business
fails. Ex: employees or lenders not being paid, possibility of being sued.
The four factors of production are: - answer✔✔Natural rescources, labor, capital, and
entrepreneurial ability.
Define productivity - answer✔✔the quantity of goods and services produced from each unit of
labor input. Often classified in (G/S) produced/ hour
Define deflation - answer✔✔Persistent fall in the average level of prices in the economy,
increased currencyy value, and a fall in net exports.
Define stagflation - answer✔✔persistent high inflation combined with high unemployment and
stagnant demand in a country's economy.
Define recession. - answer✔✔2 to 3 months decline in GDP, high unemployment, and lowered
buying power.
PPI - answer✔✔Producer price index, measures prices at wholesale level.
Define the TBL - answer✔✔Triple Bottom Line: Captures the essence of sustainability by
measuring the impact of an organizations activities, including profitability, social/human capital,
and environmental capital.
Define economic sustainability. - answer✔✔The idea that communities across the globe should
have access to the financial resources they need.
Define social sustainability. List 2 aspects. - answer✔✔The idea that all communities should
have universal human rights, basic necessities, to assure they are healthy, safe, and secure.
(aspects: personal rights, labour rights, cultural rights)
What are the measures of social sustainability? - answer✔✔Unemployment rate, female labour
force participation rate, relative poverty.
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