BUSINESS CHAPTERS 1-4

.________ refers to standards of moral behavior

_____________ refers to a general rise in the price level of goods and services over time.

Which of the following represents the value of one nation's currency relative to the currencies of another country?

The two main types of e-commerce are:

Ethical behavior at work is learned by:

The three countries participating in NAFTA are

In order to create more wealth and provide better services, some nations recognize that:

A(n) _-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers.

. A favorable balance of trade occurs when the value of:

Dumping is selling products in foreign markets at lower prices than domestic firms are charging for the same product

When prices are free to adjust over time, in the long run, the market price of a good tends to:

Which of the following sociocultural forces can have a significant impact on global business operations?

Ethical behavior covers a ________ range of conduct than legal behavior.

One advantage of free trade is:

An entity that seeks to earn a profit by providing a good or service is known as a(n)

Businesses can have a positive impact on both the standard of living and the quality of life within a society.

Businesspeople would make a profit by providing the goods, services, ideas that others in the economy wanted,

___________ studies the operation of a nation's economy as a whole.

The United States imports more products and services than any nation in the world.   

Businesses with a formal code of ethics are less common now than in the past

A_____is when a nation can produce a good or service more effectively or efficiently than it can produce other goods

Purposefully understating your firm's income to avoid paying higher taxes is an example of

Which of the following questions will help individuals and organizations when deciding if their decisions are ethical?

A major premise of a socialist system is:

Businesses provide goods, jobs, and services to others

_____________ is buying products from another country.

.__________ is the amount a business earns after deducting what it spends for salaries and other expenses.

_______describes an attitude held by some American businesspeople that American culture is superior to all others.

Which of the following statements about factors of production is the most accurate?

Three important economic indicators of the United States are the unemployment rate, the price indices, and the:

Business consultant Peter Drucker said that the most important factor of production is knowledge.

High tax rates tend to:

Effective human resource management styles are transferable from one culture to another.

Trade protectionism

An arrangement where someone sells their rights to use the business name and products

Employers provide tools and technology for their employees in order to:

. Laws that protect us from fraud, theft, and violence determine ethical behavior.

Creating competition between employees within the corporation must be ignored when corporate ethics are developed:

Following an ethics-based approach to decision making will normally lead to

____________ looks at the behavior of individual people and organizations in specific markets.

The customers, employees, or has anything to gain or lose by the policies and activities of a business represent what:

One of the major ways the Fed influences economic conditions is through its control of interest rates.

Which of the following terms describes someone who reports illegal or unethical behavior?

policy refers to the efforts of the federal government to keep the economy stable by increasing or decreasing taxes

Outsourcing means selling goods and services to people in other countries.

? is the study of how a society gives its limited resources to produce goods and services to give competitors and others

The World Trade Organization (WTO) was established to mediate trade disputes among nations.

Corporate social responsibility describes the firm's

Communism is an economic/political system where the state makes most all economic decisions & owns most major production

what curve shows relationship between a price of a good and the quantity of that good people are willing and able to buy

A business incurs a ___________ if its costs and expenses exceed its revenues.

Fair disclosure is a rule that states when a publicly traded firm discloses information, it must share it with everyone

Foreign direct investment refers to the buying of goods produced in another country.

An increase in global trade will:

A very critical last step in the process of establishing an ethics code is

. The two basic types of tariffs are:

. __________ exists when the entire supply of a good is controlled by a single seller.

To implement a policy of empowerment, the organization will restructure so that:

As global trends become local and as we see more opportunities to compete in the global market

Both socialism and communism are variations of:

Classified as unemployed, a person must be at least 16 years old and trying to find a job within the past four weeks.

Under capitalism, most of the means of production and distribution are privately owned and operated for profit.

Brain drain has occurred in many socialistic nations because:

Often in business the greater the risk, the __________.

. Making accounting records more transparent may help restore trust in the free-market system and leaders in general.

Insider trading involves