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14 terms·StudBud Administration·516 plays

a business quiz on chapters 1 2 and 3

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Questions 14

Answers

1
What is the definition of Tariff
A tax placed on exports
A tax imposed on imports
A ban on specific exports
2
A general rise in the prices of goods and services over time
Stagflation
Recession
Inflation
Core inflation
3
The loss of the best and brightest people to other countries
Mixed economies
Brian Drain
Communism
Lack of Ideas
4
The sum of government deficits over time
National Debt
Mixed economies
Monetary policy
Recession
5
What are the three largest exporting nations?
Russia, Brazil, Canada
Canada, United States, China
United States, Russia, Italy
China, Russia, United States
6
What is not apart of a free market?
Right to own business and keep profits
Freedom of choice
Right to own property
Right to have slaves
7
Which is not a benefit of socialism?
more hours
free healthcare
benefits through college
free child care
8
What country is ranked number one on the most corrupt countries list?
Afghanistan
Sudan
North Korea
Somalia
9
What are the five factors of production?
Profit, entrepreneurship, knowledge, labor, media
Land, labor, technology, capital, profit
Land, Labor, Capital, Entrepreneurship, Knowledge
Capital, labor, knowledge, risk, business environment
10
Which is not a type of competition?
Monopoly
Inflation
Ologopy
Perfect Competition
11
A degree of competition in which just a few sellers dominate the market
Socialism
Brain drain
Oligopoly
Monopoly
12
Contracting with other companies to do some of the functions of a firm, like its production
Stakeholders
Risk
Services
Outsourcing
13
A combination of freer markets and some government control
State capitalism
Oligopoly
Monopoly
Capitalism
14
The periodic rises and falls that occur in economies over time
Fiscal policy
Core inflation
Business Cycle
Monetary policy