Principles of Business and Finance 1.01 Review

Question 1

Jay leases buildings to manufacturing companies. In which type of resource does he specialize?

Accepted Answer

Capital

Question 2

An example of a value for a command economy is:

Accepted Answer

Central leadership group gets all profits from production.

Question 3

A report details 3 qtrs of production and job losses. What phase of the business cycle is this?

Accepted Answer

Recession

Question 4

Nike increased headcount to reduce production time. Which economic question does this address?

Accepted Answer

How to produce?

Question 5

BIC plans to increase amt. of pens sold per Q. An example of which MktEcon self-reg principle?

Accepted Answer

Producers establish supply.

Question 6

Macy's reports monthly sales to NCDOR. This info'd be useful to measure which economic activity

Accepted Answer

Consumer Spending

Question 7

Tony organized all the cars at his dealership.Which part of the decision-making process is this

Accepted Answer

Acting on a choice.

Question 8

Duke Energy uses hydroelectric sources to power the area. Which resource is Duke using?

Accepted Answer

Natural

Question 9

An example of a value for a market economy is a:

Accepted Answer

local company choosing to produce gaming software.

Question 10

Gangsta Towing added a flat tire service. Which economic question does this address

Accepted Answer

What to produce

Question 11

Which is an example of consumers establishing demand?

Accepted Answer

The purchase of iPhone applications increasing daily.

Question 12

Which int'l organization solves disputes over tarriffs and access to each other's markets?

Accepted Answer

WTO

Question 13

An economist researches the total value of homes built, this information would be useful for:

Accepted Answer

GDP

Question 14

Mary saved 43K. The bank makes loans w/it. This represents which measurement of econ activity?

Accepted Answer

Investment activities

Question 15

J MFG bought a machine that reduces the time to wrap a package. This measures what economically

Accepted Answer

Labor activities

Question 16

T needs a job. She applies as a baker, maid, & nanny Which econ decision process has she made?

Accepted Answer

Identifying choices

Question 17

Pampers gave the rights to a Mexican company to produce diapers. What Entry model is this?

Accepted Answer

Licensing

Question 18

J's Steakhouse offers meals including wheat, corn, or beef. What type of resource is included?

Accepted Answer

Natural

Question 19

Which is an example of a company establishing supply?

Accepted Answer

Walmart sends only 5 touch screen computers to each store.

Question 20

A report details 3 qtrs of production and job growth. What phase of the business cycle is this?

Accepted Answer

Prosperity

Questions 20