BUS EXAM 1

a complete ban on the import or export of a certain product is called

When a soft drink company buys water from mineral water they are forming vertical merger

Which one is the part of economics study that looks at the behavior of people and organization in particular markets

Which one is not the possitive impact of being an entrepreneur

unemployment that happens due to recession is known as

there are four types of merger

The two major economic systems are free-market and command economies

Apple selling macbook to people is an example of B2B

a tax imposed on import is tariff

Adam Smith created a term "invisible hand" that describes the process that turn self-directed gain into social benetifs

Trade protectionism is the use of governement regulations to limit the import of goods and services

Giving frontline workers the resposibility, authority, freedom, training, and equipment they need for a fast respoond is

sociocultural, economic&financial, legal&regulatory, physical&environment are the obstacles in trading in global market

Loss happens when a business's expenses are more than its revenue

a contractual agreement between someone with a good idea of business who sells other the rights to use the name ...

Sole proprietorship is the most flexible form of business owner where you can easily start and end the business

Balance of trade is the total value of nation's exports compared to its imports over particular period

Common Market is also known as Trading Bloc

Any activity that seeks to provide goods and services to other while operating at a profit is called?

The North American Free Trade Agreement (NAFTA) is made up of these countries, EXCEPT

the difference between money coming into a country and money leaving the country plus money flows from other factors is

The movement of goods and services among nations without political and economic barriers is known as

The result of two firms forming a company is known as acquisition

Which one is the most important factor of production

All the poeple who stand to gain and lose by the policies and activities of a business

a partnership in which two or more companies (usually from different countries) join to undertake a major project

a situation when the economy is slowing but prices are going up anyhow is known as stagflation

Decisions about what and how much to produce are made by the market is known as

Opening offices and factories in other country but still their company and their name is known as "outsourcing"

Unlimited liability is one of the advantages of sole proprietorship where the owner has to do all resposibilities alone

not all global businesses are multinational

Capitalism is where the economy and most of the businesses, production, and distibution are run by the government

Adam Smith belived that if the rich had most of the wealth and the poor had the most population, resources will run out

the value of one nation's currency relative to the currencies of other countries in known as

Buying products from another country is known as exporting

There are two types of partnership

in limited liability the resposibility of the owners to the losses only up to what they invest

which one is not a business environmen

a situation in which price increases are slowing of the inflation rate is declining is known as

These are the four basic rights of capitalism, EXCEPT

Demand curve goes from left below to right top

Where the government make the most decision about the economy that is a communist country

obtaining individual's personal information such as social security and credit card numbers is know as "identity theft"

There are two types of tariffs which are protective and revenue tariffs

Demography is the statistical study of the human population with regard to its size, density, and other characteristics

Trade deficit is the favorable trade

The total amount of money a business takes in during a given period by selling goods and servcies is..

What is quality of life

Services are tangible products

General Agreement on Tariffs and Trade (GATT) was made on

a person who risks time and money to start and manage a business is called?