Business final exams

What can happen in a market to change the price of a good?

Sets up the way the work will be done.

they allow partners to have limited liability as well as limited input with management decisions.

Which of the two main ways is more effective in speeding up or slowing down the economy?

Opportunity costs for building aircraft carriers are all of the following except...

Promotion is a type of advertising.

Keeps the company on track and makes sure all goals are met.

A partnership must file an to report the income deductions, gains and losses from the business’s operations but not pay

When you borrow money from a bank, you are essentially borrowing money from your neighbor.

The study of economics is about

A rise in prices is effectively the same as a cut in wages.

Act as general partnership, but for only a limited period of time or for a single project.

Economics policy makers have 3 goals. They include all of the following EXCEPT:

Anyone who starts or buys a business is always faced with the question of how to organize the business.

Personal Selling includes all of the following EXCEPT

Unemployment includes:

Which of the four components of the GDP does the United States count on the most?

Concerned with single economic factors and the effects of individual decisions

Social responsibility issues include environmental protection, workplace diversity, job safety, and employee wellness.

Factors of production including minerals and natural resources

Components of the Promotional Mix include:

Capital raised by a business or corporation through the issuance of shares

Advertising includes all of the following EXCEPT

If the economy is going too fast or too slow, the government can try to fix it by adjusting government spending or taxes

Influencing people's behavior through motivation, communication, group dynamics, leadership, and discipline

An increase in money supply, which leads to more borrowing and spending

Because you and your business are one and the same, the sole proprietorship income is your income.

Because corporations can sell shares of stocks, it is easier to generate capital.

A hybrid form of business ownership that provides limited liability and tax advantages.

The portion of deposits a bank must keep

The most common measure of inflation is

A contractual agreement to use the name and sell the products or service of a company in a designated geographic area.

In comparing GDP to HDI, we find that GDP is not a strong indicator of HDI.

Which of the following is NOT a lower-level management position?

Business owners often form corporations to protect the owners from personal liability.

Which of the following is NOT a top-level management position?

Which of the following is NOT a middle management position?

Because partnerships are jointly owned, each partner must share the successes of their business with the other partners.

The 4 P's of Marketing are

Demand outweighs supply.

The rate the Fed charges banks when they lend them money

Unlike sole proprietors and partnerships, corporations pay income tax on their profits.

The price at which the quantity buyers want is exactly equal to the quantity sellers want to sell is called...

The law of demand states...

Entrepreneurs face all of the following challenges EXCEPT:

What you give up to get or do something else.

Communication and selling to customers.

All states do not tax S corps equally.

The main ways loans take place include all of the following except:

Making your product less, similar to, or more expensive than your competition based on your product's image.

The portion of deposits a bank must keep is called the...

To form a partnership, you must register your business with your state

Increased standard of living is due to increased productivity.

When comparing sales of products over time, we should account for...

A business that is chartered, or registered, by a state and operates apart from its owners

Focuses on division, coordination, and control of tasks and the flow of information within the organization.

Money, buildings, and equipment

All of the following except ____________ are used in the HDI in determining the wealth of a country.

Productivity is based on output per worker per hour.

Key factors in starting your own business are:

Publicity is the management of communication of the product or brand with the general public.

With the ripple effect, an increase of government spending of $100 could turn out to be more in the economy

A decrease in money supply, which leads to less borrowing and spending

Money that is borrowed and expected to be paid back with interest

GDP includes which one of the following?

Most economies are...

Output per worker per hour

Double taxation is a disadvantage of a corporation.

Quantity desired

Provides guidance to workers and work projects.

Corporations are the most common business structure of large companies.