BUSINESS CHAPTERS 1-4

The two main types of e-commerce are:

The three countries participating in NAFTA are

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

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

A major premise of a socialist system is:

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

One advantage of free trade is:

Trade protectionism

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

. The two basic types of tariffs are:

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

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

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

Insider trading involves

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

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

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

Businesses provide goods, jobs, and services to others

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

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

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

High tax rates tend to:

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

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

_____________ is buying products from another country.

An increase in global trade will:

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

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

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

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

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

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

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

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

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

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

Often in business the greater the risk, the __________.

.________ refers to standards of moral behavior

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

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

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

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

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

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

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

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

Both socialism and communism are variations of:

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

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

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.

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

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

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

Ethical behavior at work is learned by:

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

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

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

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

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

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

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

Brain drain has occurred in many socialistic nations because:

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

Corporate social responsibility describes the firm's

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