Business Foundations Midterm

Click the types of partnerships

Economy is the study of how resources are distributed for the production of goods

Ad Valorem tariff is based on the value of an item

What are examples of time theft

These groups have a stake in the success and outcomes of a business

Which stock has first claim to profits

Financial resources is also called

Positive association with environmental issues

Joint ventures are

Click examples of shareholders

Economic contraction occurs when spending

Free enterprise provides an opportunity for a business to succeed or fail in market demand

Competition fosters efficiency and low prices

Sole proprietorships employ around 50 people

An agreement by which financial institution promises to lend business a sum

Businesses have to be socially responsible

Click the three issues all economic systems face

Devaluation and revaluation are examples of exchange rates

Foreign corporations conduct business outside the state in which its charter

Individuals own and operates businesses in the capitalism model

What are the two forms of capitalism

A budget deficit is where a nation spends less than it takes from taxes

Stocks may be bought, sold, gifted, or inherited

Social responsibility equals ethics

Transferring of manufacturing while seeking lower cost production

Refers to the physical and mental abilities that people use to produce goods and services

A negative balance of trade

Marketing Includes all the activities designed to provide goods that satisfy consumers

An acquired company becoming a subsidiary is an acquisition

Personal property as a collateral is mortgage

Define economic expansion

How much stock does a private corporation sell

Choose all techniques of a hostile takeover

The action of employees exposing employers’s wrongdoing to stakeholders

Click all communism is known to have

Micro entrepreneurs have five or fewer employees

What is the primary goal of all business

Corporate and shareholders are taxed in corporations

Communism and socialism are what kind of economy

The government isn’t in control of the economy in communism

Reducing management layers, corporate staff, and work tasks

What kind of business has no fundamental purpose of earning a profit

Oligopoly competition exists when there are very few businesses selling a product

A gig economy is when independent contractors earn an income going job to job

Conducts business in state which it is chartered

Alien corporation is the same as foreign corporation

Inside directors are employees of the company

Involved developing plans, coordinating employees, and organization

What does free enterprise depend on

Outside directors are people affiliated with a company

Traits of an absolute advantage

Embargo has nothing to do with politics, health, or religion

A B corporation is a certificate that signals confirmation to social standards

The sum of all goods and services in a country

___ competition exists when there are many small businesses selling one product

Products have both tangible and intangible characteristics

Profits distributed to stockholders

Three factors of business ethics

Business tries

Common stock have voting rights can vote by proxy

Economic systems describes how a particular society distributed its resources to produce goods

Choose the types of public corporations

JFK’s consumer bill of rights covered the rights of

Financial interest in property or fixtures of business

Sustainability doesn’t involve assessment of business sectors and work practices

Finance primary responsibility of the owners to provide financial resources for the operation of business

Business ethics determines…

Most basic ethical concerns are codified by laws

Central government determines what goods people need in communism

A specific amount of money levied on each unit

A good reputation is an example of intangible resources

Socialist believe their system permits lower standards of living

____competition Exists when there are fewer businesses than pure competition and the difference in product is small

Balance of trade is the difference between exports and imports

Firms that make and sell similar products to same customers

What are the three main economies

Private corporations wants to raise capital

Businesses that create profits, pay taxes, and create jobs are the foundation of what

Rapid expansions can result in inflation

Sole proprietorship has two owners

Physical facilities that support economic activities is infrastructure

Socialism is a system in which the government owns some but the people own the rest

S Corporations are taxed as a partnership

Private corporations don’t have to disclose earnings

Comparative advantage is the basis of most international trade

What is the other term for capitalism

Established voluntarily or by government

Partnerships liability is

What is the number 1 form of misconduct

Businesses don’t have the right to keep and use their profits how they choose

What percentage do minorities make in small business

Amount of shareholders in a LLC

Examples of consumerism

Click all industries that attract small business

Examples of cultural barriers