Business Final Exam Review Dale Fodness Questions & Answers
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Course
Business
Institution
Business
Demography is the study of : - ANSWERpeople's vital statistics
Which of the following businesses provides its customers with a good ? - ANSWERbicycle manufacturer
_____ combine the inputs in the production of goods and services for what are intended to be profitable ventures - ANSWEREntrepren...
Business Final Exam Review Dale
Fodness Questions & Answers
Demography is the study of : - ANSWERpeople's vital statistics
Which of the following businesses provides its customers with a good ? -
ANSWERbicycle manufacturer
_____ combine the inputs in the production of goods and services for what are intended
to be profitable ventures - ANSWEREntrepreneurs
Inputs , such as natural resources , labor , capital , and entrepreneurship , are known as
: - ANSWERfactors of production
As one of the factors of production , capital includes all of the following EXCEPT : -
ANSWERMoney
____ is a philosophy that focuses on the consequences of an action to determine
whether it is right or wrong.
This philosophy holds that an action that affects the majority adversely is morally wrong
- ANSWERUtilitarianism
is the practice of charitable giving by corporations ; includes contributing cash , donating
equipment and products , and supporting the volunteers ' efforts of company employees
. - ANSWERCorporate philanthropy
Social responsibility should extend beyond the shareholders to include : -
ANSWERemployees, suppliers, consumers , and community
_____ is the concern of businesses for the welfare of society as a whole . -
ANSWERSocial responsibility
Utilitarianism : - ANSWERis difficult to implement because it is hard to tell how one
decision will impact a large number of people.
.... refers to sending work functions to another country resulting in domestic workers
losing their jobs . - ANSWEROutsourcing
An enterprise in which two or more firms or investors ( including governments ) share
ownership of a business and its property rights is called a ( n ) : - ANSWERjoint venture
, If a country specializes in goods that it can produce most readily and cheaply and
trades those goods for the goods that another country can produce most readily and
cheaply , then both countries are exercising the principle of : - ANSWERcomparative
advantage
_____ move resources , goods , services , and skills across national boundaries without
regard to the country in which they are headquartered . - ANSWERMultinational
corporations
A country that exports more goods than it imports is said to have a ( n ) : -
ANSWERfavorable balance of trade
are government regulations that give special priority and privileges to domestic
manufacturers . - ANSWERBuy - national regulations
The ____ is an international bank that normally provides short - term loans to countries
that are unable to meet their budgetary expenses . - ANSWERInternational Monetary
Fund .
What are the benefits associated with free trade and globalization ? - ANSWERAn open
economy that spurs innovation
____ is the reduction of a currency's value relative to another currency . -
ANSWERDevaluation
The ____ is defined as the difference in value of a country's exports and imports over a
period of time . - ANSWERbalance of trade
In a ____ the factors of production are owned collectively rather than individually , and
no incentives to work harder or to produce quality products are provided . -
ANSWERcommunist economic system
When the government raises taxes on consumers and businesses , it is dealing with
____ policy . - ANSWERfiscal
The ____ represents the prices of a market basket of goods and services as measured
monthly by the Department of Labor . - ANSWERconsumer price index ( CPI )
A decline in real GDP that lasts for two consecutive quarters is called a ( n ) : -
ANSWERrecession
The most basic measure of economic growth is the : - ANSWERgross domestic product
A market in which there are a large number of firms that differentiate their products is
called: - ANSWERmonopolistic competition
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