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Duplicate of POB Unit 1 Flashcards | StudBud
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Duplicate of POB Unit 1
Duplicate of POB Unit 1
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Questions
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Answers
1
A government agency reports the told amount spent to pay employees monthly. This measures___.
GDP
Investment activities
Consumer spending
Labor activities
2
Prime Ministers of East African countries are negotiating trade in their region. This is a ___.
Free-trade zone
Tariff
Embargo
Common market
3
A steakhouse offers dishes with whole wheat, corn or beef. What type of resources are they?
Natural
Capital
Human
Service
4
Which is an example of consumers setting the demand?
The footwear company moving in its new building
Consumers do not buy older games when a new once comes out
the wait for employees returning equipment decreased
The department store changing its staff
5
Tony organized the cars he will sell at his dealership. Which step is this?
Defining the problem
Acting on a choice
Evaluating the advantages and disadvantages of each choice
Choosing one choice
6
A report shows a company has increasing production and GDP. Which phase of the business cycle?
Recession
Depression
Prosperity
Recovery
7
The US government lets consumers make decision about their purchases. What main factor is this?
Cultural influences
Economic development
Political and legal concerns
Geography
8
Which is an example of consumers establishing demand?
The footwear company moving in its new building
The purchase of iPhone applications increasing daily
The department store changing its staff
The wait to return recalled equipment decreasing daily
9
Over 100 teachers lost their jobs. What measurement of economic activities is this?
GDP per capita
GDP
Consumer spending
Labor activities
10
A report about an economy shows less production and reduced employees. Which phase is this?
Recession
Recovery
Depression
Prosperity
11
A manufacturing company has less workers to decrease the production time. This is asking____?
What to produce?
How to produce?
For whom to produce?
When to produce?
12
India limits the import of wheat in its country. What international trade barrier is this?
Tariffs
Free-trade zones
Embargoes
Quotas
13
A company has a machine that wraps in 30 sec. That would take an employee 3min. This shows:
GDP per capita
GDP
Consumer spending
Labor activities
14
Duke Energy uses water to power the area. Which resource is Duke Energy Power using?
Human
Capital
Natural
Service
15
Tony owns a dealership. He made a spreadsheet to compare options. What step is he on?
Evaluating the advantages of disadvantages of each choice
Defining the problem
Acting on a choice
Choosing one choice
16
In the UK, the country set up duty-free shops in highly visited areas. This area is a ____.
Free-trade zone
Tariff
Embargo
Free-trade agreement
17
US is known for making wheat with less human resources. What advantage is this?
Comparative
Competitive
Dual advantage
Absolute
18
Laos's business has limited room to conduct transactions & depends on agriculture. This shows:
Geography
Political and legal concerns
Cultural influences
Economic development
19
An ice cream shop wants to increase sales per quarter. What self-regulating principle is this?
Demand and supply factors influence market prices
Consumers set demand
Supply and demand generated competition
Producers establish supply
20
An example of a value for a command economy is:
a local company choosing to produce 10,000 televisions
a group of leaders expecting all profit from production
an individual deciding to purchase three new televisions
a local group producing tv's the same way through the years
21
Alaska produces more salmon by the pound that an other exporter. This is what advantage?
Absolute
Dual
Comparative
Competitive
22
Tina applied for a 3 different jobs, teacher, contractor and coordinator. What step is she on?
Evaluating advantages and disadvantages of each choice
Identifying choices
Choosing one choice
Defining the problem
23
Jo has $43,000 in a bank. Saving money will provide funds borrow money. This is an example of?
Consumer spending
Labor activities
Investment activities
Borrowing
24
Department store send monthly reports of their total sales. Which economic activity is this?
Consumer spending
Investment activities
Borrowing
Labor activities
25
A convenience store gave rights to a store in Mexico to sell its products. This is known as:
Licensing
Joint venture
Franchising
Chain
26
Brandon's Towing company added flat tire replacement service. This answers____?
What to produce?
When to produce?
For whom to purchase?
How to produce?
27
An economist researches the total value of homes built. What economic activity is this used for
Investment activities
Labor activities
Consumer spending
GDP
28
Cuba bans US products to be sold in its country. What international trade barrier is this?
Quotas
Tariffs
Free-trade zones
Embargoes
29
An organization assisted 2 countries on settling a trade agreement. What organization is this?
International money fund
Joint venture
World Trade Organization
World Bank
30
In an economy there are 40 people and 15 pizzas were produced at $7 each last year. This shows:
Consumer spending
GDP
GDP per capita
Labor activities
31
India's terrain allows rice, cotton, and wheat. What information is India classifying?
Geography
Cultural influences
Economic development
Political and legal concerns
32
An example of a value for a market economy is a:
a local tv company makes tv's the same way for many years
local group believing in following traditions at work
a leadership group expecting all the profit from production
local company choosing to produce gaming software
33
Jo altered his gift giving practices while in Japan.What international business factor is this?
Cultural influences
Geography
Economic development
Political and legal concerns
34
Aruba is globally known for its white, sandy beaches. What type of advantage is this?
Absolute
Dual
Competitive
Comparative
35
Which is an example of a company establishing supply?
Reebok shoe company tries to attact middle age customers
Sears Department Store displays fewer lawn mowers
Ann Jones Clothing Store upgrades its equipment regularly
Walmart sends only 5 touch screen computers to each store
36
Which statement is true: Balance of payments is favorable when_____.
A company pays more money out if it than it receives in it
A company receives more money into it than it pays out
A country receives more money into it than it pays out
A country pays more money out of it than it receives in it
37
Syria is banned from selling products in other countries. What is this an example of?
Quotas
Embargoes
Free-trade zone
Tariffs
38
An organization assisted 2 countries on a trade disagreement on tariffs. This organization is:
The World Trade Organization
A Joint Venture
An International Monetary Fund
The World Bank
39
China has rising interest rates and inflation. This is what example of currency exchange?
Economic conditions
Political stability
Balance of payments
Balance of trade
40
Before going to a meeting, Kate learns business behaviors for foreign countries. This is___.
Geography
Cultural influences
Economic development
Political and legal concerns