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Duplicate of PBF Standard 1 Flashcards | StudBud
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Duplicate of PBF Standard 1
Duplicate of PBF Standard 1
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NC Standard 1 for Principles of Business and Finance - Economic Systems
Flashcards
43 cards
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Questions
43
Answers
1
When a gov't. agency reports salaries paid, which measurement of economic activity?
Investment activities
Labor activities
Consumer spending
GDP
2
India's terrain allows for production of cotton, rice, wheat; which int'l business factor?
Political/legal concerns
Cultural influences
Geography
Economic development
3
Which is an example of consumers setting demand?
Consumer bought less of the old version of a video game
Wait for employees returning equipment decreased
Footwear company moves into a new building
Department store changes its staff
4
Department stores report monthly sales; which measurement of economic activity?
Borrowing
Investment activities
Consumer spending
Labor activities
5
Cuba bans American products w/in its country; which international trade barrier?
Tariffs
Quotas
Embargoes
Free-trade zones
6
Brandon's Towing added flat tire replacement; which economic question does this address?
When to produce
How to produce
What to produce
For whom to produce
7
Duty-free shops are set up in UK's highly visited areas; which encouragement of int'l trade?
Free-trade agreement
Embargo
Tariff
Free-trade zone
8
China's interest rates and inflation are rising; which factor of global business environment?
Economic conditions
Political stability
Balance of payments
Balance of trade
9
Companies are experiencing less production and reducing employees; which business phase?
Recovery
Recession
Prosperity
Depression
10
U.S. allows consumer to make decisions; which main factor of int'l business environment?
Political/legal concerns
Economic development
Geography
Cultural influences
11
Laos has limited infrastructure; which factor of int'l business environment does this affect?
Political/legal concerns
Economic development
Cultural influences
Geography
12
Tony organized all the automobiles that he has decided to sell; which part of decision-making?
Choosing one choice
Acting on a choice
Defining the problem
Evaluating the adv/disadv of each choice
13
Tina applied for several different positions. What part of decision-making process is she in?
Choosing one choice
Defining the problem
Evaluating the adv/disadv of each choice
Identifying the choices
14
East African countries negotiate trade in the region; which encouragement of global trade?
Embargo
Tariff
Free-trade zone
Common markets
15
If a country's gov't changes bc of war, which factor of international business environment?
Economic conditions
Political stability
Balance of payments
Balance of trade
16
A convenience store gave rights to use its name; which global marketplace entry mode?
Joint venture
Franchising
Chain
Licensing
17
Knowing the total value of homes built helps with which economic measurement?
GDP
Labor activities
Consumer spending
Investment activities
18
Companies are experiencing record high production and adding employees; which business phase?
Prosperity
Recovery
Depression
Recession
19
Mary saved $43,000 in a bank where others can borrow; which economic measurement?
Consumer spending
Investment activities
Borrowing
Labor activities
20
John specializes in leasing commercial buildings; which type of resource are the buildings?
Human
Capital
Service
Natural
21
An organization settled a trade dispute between two countries; which organization?
World Bank
International Monetary Fund
Joint venture
World Trade Organization
22
An automatic wrapping machine does the work of 3 employees; which measurement of econ activity?
Consumer spending
GDP per capita
Labor activities
GDP
23
Duke Energy Power Co. uses water to power the area. Which resource is Duke using?
Human
Capital
Natural
Service
24
Which is an example of a company establishing supply?
Clothing store upgrades equipment
Footwear company tries to attract middle-aged customers
Walmart sends only 5 HD TVs to each store.
Sears displays fewer lawn mowers
25
Syria is banned from selling products in other countries; which trade barrier?
Free-trade zones
Tariffs
Embargoes
Quotas
26
Stacey researches proper behavior before visiting another country; which factor of int'l bus?
Political/legal concerns
Geography
Economic development
Cultural influences
27
NAFTA eliminates tariffs and embargoes; which encouragement of int'l trade?
Free-trade agreement
Embargo
Tariff
Free-trade zone
28
Breyers plans to increase quantity of ice cream sold; which self-regulating principle?
Consumers set demand
Producers establish supply
Supply and demand generate competition
Demand and supply influence market prices
29
U.S. is known for efficient wheat production; what type of advantage?
Dual
Competitive
Comparative
Absolute
30
India limits imported wheat products to protect its industry; which trade barrier?
Tariffs
Free-trade zones
Embargoes
Quotas
31
40 people in an economy produced 15 pizzas at $7 each; which measurement of economic activity?
GDP per capita
GDP
Labor activities
Consumer spending
32
Jane's Steakhouse makes meals containing wheat, corn, or beef. Which type of resource?
Capital
Service
Human
Natural
33
Alaska produces more salmon than other states; what type of advantage?
Competitive
Dual
Absolute
Comparative
34
Which is an example of consumers establishing demand?
Footwear company moves into new building
Wait to return recalled equipment decreases daily
Department store changes its staff
Purchase of iPhones increases daily
35
Jewel Mfg. Co. changed its production line to include more workers; which economic question?
For whom to produce
When to produce
How to produce
What to produce
36
Shari adjusted gift-giving practices with Japanese clients; which factor of int'l business?
Political/legal concerns
Cultural influences
Economic development
Geography
37
An organization settled a dispute about trading bananas; which organization?
World Bank
Joint venture
International Monetary Fund
World Trade Organization
38
Tony compared cars to sell at his dealership; which part of decision-making has he performed?
Defining the problem
Evaluating the advantages and disadvantages of each choice
Choosing one choice
Acting on a choice
39
An example for a value for a command economy is:
Local group produces TVs the same way over the years
Individual deciding to purchase three TVs
Local company produces 10,000 TVs
Central leadership expecting all profits
40
Which statement is true about balance of payment?
Faborable when company receives more than it pays
Favorable when country receives more than it pays
Favorable when country pays more than it receives
Favorable when company pays more than it receives
41
100 teachers were laid off bc of decreasing enrollment; which measurement of economic activity?
Labor activities
Consumer spending
GDP per capita
GDP
42
An example of a value for a market economy is
Local company choosing to produce gaming software
Local group produces TVs the same through the years
Local group believes in following traditions at work
Central leadership expecting all profits from production
43
Aruba is known for its white sand beaches; what type of advantage?
Dual
Comparative
Competitive
Absolute
