Introduction to Business

All written contracts are legal

A(n) business statement is a short; specific written statement of the reason a business exists

A nation's transportation; communication; and utility system is referred to as its _______.

Antitrust laws protect consumers from all of the following EXCEPT

A tax that a government places on certain imported products

If a company has a code of ethics

Which of the following is a way the U.S. gets involved in business activities

In a valid contract there must be consideration; what is consideration

A country can have an absolute advantage in only one area

Top management has little impact on the ethical conduct of a business

If you write an original song it can be protect with a copywrite

Government plays a role in all economic systems

Without foreign trade, all items we buy would cost less, since they wouldn't need to be shipped

The Age Discrimination in Employment Act protects all persons aged ____ and older

Major challenge in businesses today involves learning how to manage a diverse workforce

People born between 1946 and 1964 are generally referred to as

The _______ rate is the value of a currency in one country compared with the value in another

Which of the following countries has an absolute advantage in coffee production

An international trade organization created in 1944 to provide loans for rebuilding after WW2

Suppose one company owned all the gas stations in your state

The differnce between a country's total exports and total imports

All of the following are non-renewable resources EXCEPT

Countries who devote most of their economies to agriculture provide better good and services

Joint venture is between two or more countries to remove duties and trade barriers

The key factors that affect a country's level of economic development

Goods and services sold to other countries

All businesses make products

_______ are principles of morality of rules of conduct

In the United States; police and fire protection is usually provided by

A free-trade zone is a selected area where products are

Government is the single largest employer in the U.S. economy

A country in which a multinational company conducts business activities

It is possible for the U.S. to have a trade surplus in one country and deficit in another

Which of the following scenarios is likely to cause the value of a country's currency to rise

The making; buying; and selling of goods and services within a country

Business ____________ are rules about how businesses and their employees ought to behave

Licensing

A word; letter; or symbol linked with a specific company or product is a ________

The difference between the amount of money that comes into a country and amount that goes out

A gas station; telephone company; electric company; and water works are all untility companies

Selling the right to use some intangible property for a fee or royalty

A word; letter; or symbol linked to a specific company is called trademark

Which of the following is NOT a cultural/social factor

a patent gives an inventor of a new product the sole right to make; use; or sell the item for

Written contract granting permission to opeate a business to seel products and services