MIE 201 Exam 1 Questions With Solutions 100% Solved
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Course
MIE 201
Institution
MIE 201
MIE 201 Exam 1 Questions With Solutions
100% Solved
Karen was happy to be buying a beach house. She hired an attorney to help her draft a purchase
agreement for her new beach house. Karen's beach house is an example of a product that is a
idea
service
tangible item
intangible item
free se...
MIE 201 Exam 1 Questions With Solutions
100% Solved
Karen was happy to be buying a beach house. She hired an attorney to help her draft a purchase
agreement for her new beach house. Karen's beach house is an example of a product that is a
idea
service
tangible item
intangible item
free service Tangible item
Argentina is a large producer of corn, as such, the market for corn in Argentina has a large
number of buyers and sellers. There is no difference in the products sold but each seller. As a
result, prices are determined by the
businesses that sell the corn
consumers that buy the corn
forces of supply and demand
government
, MIE 201 Exam 1 Questions With Solutions
100% Solved
agricultural industry Forces of supply and demand
bc no one business sells enough agricultural commodities to influence the price and there are no
differences among the commodities, prices are determined solely by forces of supply and
demand
When considering businesses and profits, which of the following is true?
profit making is a business activity that seldom requires risk taking
businesses do not have the right to use their profits the way they choose
profit-making businesses often weaken the economy of a country
earning profits contributes to society by creating resources that support social institutions and
gov
ignoring the interests of stakeholders is the best way for a business to be profitable
Earning profits contributes to society by creating resources that support social institutions
and gov
Businesses that create profits, pay taxes, and create jobs are the foundation of our economy
, MIE 201 Exam 1 Questions With Solutions
100% Solved
In the fictional country of Palacia, income and social services are distributed equally among its
citizens. However, they much pay high taxes, and they experience high levels of unemployment.
Palacia is an example of a ______ nation
communist
socialist
capitalist
supply and demand
entrepreneurial Socialist
socialist economies profess egalitarianism, or equal distribution of income and social services,
claiming this creates a more stable economy. However, taxes and unemployment are generally
higher in socialist countries
Marc and Anthony have been vying to take the top position on the sales team for years. Now,
they are both competing for a promotion and Susan, their manager, must decide who to promote.
Hoping to sway Susan to promote him over Anthony, Marc has given Susan a $200 gift card to
an expensive restaurant. This is an ex of
, MIE 201 Exam 1 Questions With Solutions
100% Solved
misuse of company resources
bribery
dishonesty
conflict of interest
an acceptable gift Bribery
bribes are payments, gifts, or special favors intended to influence the outcome of a decision
Jim's boss, Oscar, often goes on Facebook at work. As a result, the rest of Oscar's team spends
time on Facebook during working hours, as well. Which of the items below does this ex best
describe?
individual moral standards
opportunity for misconduct
the influence of co-workers
the influence of managers
personal ethics The influence of managers
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