Why would a business choose to buy supplies from another country?

The business found a better price for the supplies.

Due process includes all of the following EXCEPT

requiring parties to have a lawyer in all cases.

Which of the following is an example of a tort?

A person is supposed to provide services but fails to.

Which of the following correctly describes the free-enterprise system in the United States?

Businesses have a lot of control over how they run their business

If a country has a rising middle class, what does this social change mean for business?

There will be more people with discretionary income, creating business.

What is the difference between an emerging market and an established market?

Emerging markets have had little previous access to products.

Which of the following is a sales violation?

Publishing a sale price for an item that is not available

Which of the following is an example of an agency relationship?

Someone who negotiates on another’s behalf

Which of the following is an example of a problem with logistics?

An order arrives at the harbor too late to be loaded on the ship.

Why is it important for businesses to consider currency exchange rates?

They can dramatically impact profits.

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ENT Unit 3 Quiz

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Questions 21

Answers

1
Why would a business choose to buy supplies from another country?
International transactions are less regulated.
The business found a better price for the supplies.
The business only serves local customers.
International transactions are simpler than domestic.
2
Due process includes all of the following EXCEPT
letting the person know of the case against them.
a neutral judge.
using evidence to prove facts.
requiring parties to have a lawyer in all cases.
3
Which of the following is an example of a tort?
A person steals money from their employer.
A business refuses to serve some unruly customers.
A person is supposed to provide services but fails to.
A restaurant violates a city health ordinance.
4
Which of the following might vary in on online purchase depending on where the purchaser lives?
The quality of the object
The sales tax charged
The appearance of the item
The retail price of the item
5
If an employee is fired unfairly, his or her case would fall into which of the following categories of law?
Finance Law
Employment Law
Tax Law
Marketing Law
6
Which of the following correctly describes the free-enterprise system in the United States?
Government controls prices for essential goods but leaves other business
Businesses have a lot of control over how they run their business
Government regulates what businesses produce and how much they charge
The government has no control over the market, giving businesses freedom
7
If a country has a rising middle class, what does this social change mean for business?
A company should be cautious about entering the market.
There will be more people with discretionary income, creating business.
The middle class will not have as much spending power as the rural regions
8
All the following are a potential consequence of not paying debts on time EXCEPT
an increase in credit limits.
All of the above
a fine or fees.
a poor credit score.
9
What makes a contract different from an agreement?
There is no difference between an agreement and a contract.
Only agreements are written down.
A contract is legally binding.
Both parties must agree on a contract.
10
If businesses follow regulations, financial disasters are far less likely.
False
True
11
What is the difference between an emerging market and an established market?
An established market has more room for growth.
Emerging markets are less competitive.
Established markets are found in weak economies.
Emerging markets have had little previous access to products.
12
Which of the following is a sales violation?
Publishing a sale price for an item that is not available
Running a sale for one weekend only
Requiring customers to bring a paper coupon
Advertising only through the Internet
13
Which of the following is an example of an agency relationship?
Partners who start a business together
A friendly competition between rival businesses
A client that ends a transaction with one business to start another
Someone who negotiates on another’s behalf
14
What are the potential consequences if a business does not follow regulations?
The business can be fined.
The business can lose its license.
All of the above
The business can go bankrupt.
15
When a business collapses, only those who work directly for the business are impacted.
True
False
16
Intellectual property law deals with
complex disputes between businesses and suppliers.
concepts with monetary value.
plans for buildings.
use of historic texts.
17
If a business goes bankrupt, it automatically closes.
False
True
18
Which of the following is an example of a problem with logistics?
A product that has been selling out is no longer as in demand.
The customer is dissatisfied with the product delivered and wants a refund.
Two business partners have opposing visions for how a company should grow.
An order arrives at the harbor too late to be loaded on the ship.
19
Why is it important for businesses to consider currency exchange rates?
They can dramatically impact profits.
Neither side can negotiate price if the currencies are different.
Determining costs requires complex formulas and an accountant.
They remain constant, so they need to be considered in the beginning.
20
A person who is entitled to Social Security benefits but was not receiving them would take their case to
It depends on the state.
civil court.
administrative court.
criminal court.
21
Most state, federal, and local regulations apply only to large corporations.
True
False

ENT Unit 3 Quiz Flashcards | StudBud