Duplicate of PBF Standard 1

Question 1

Jane's Steakhouse makes meals containing wheat, corn, or beef. Which type of resource?

Accepted Answer

Natural

Question 2

Companies are experiencing less production and reducing employees; which business phase?

Accepted Answer

Recession

Question 3

Which is an example of a company establishing supply?

Accepted Answer

Walmart sends only 5 HD TVs to each store.

Question 4

Department stores report monthly sales; which measurement of economic activity?

Accepted Answer

Consumer spending

Question 5

Companies are experiencing record high production and adding employees; which business phase?

Accepted Answer

Prosperity

Question 6

40 people in an economy produced 15 pizzas at $7 each; which measurement of economic activity?

Accepted Answer

GDP per capita

Question 7

East African countries negotiate trade in the region; which encouragement of global trade?

Accepted Answer

Common markets

Question 8

NAFTA eliminates tariffs and embargoes; which encouragement of int'l trade?

Accepted Answer

Free-trade agreement

Question 9

U.S. allows consumer to make decisions; which main factor of int'l business environment?

Accepted Answer

Political/legal concerns

Question 10

An organization settled a dispute about trading bananas; which organization?

Accepted Answer

World Trade Organization

Question 11

Tony organized all the automobiles that he has decided to sell; which part of decision-making?

Accepted Answer

Acting on a choice

Question 12

India limits imported wheat products to protect its industry; which trade barrier?

Accepted Answer

Quotas

Question 13

Tina applied for several different positions. What part of decision-making process is she in?

Accepted Answer

Identifying the choices

Question 14

Duke Energy Power Co. uses water to power the area. Which resource is Duke using?

Accepted Answer

Natural

Question 15

Brandon's Towing added flat tire replacement; which economic question does this address?

Accepted Answer

What to produce

Question 16

An automatic wrapping machine does the work of 3 employees; which measurement of econ activity?

Accepted Answer

Labor activities

Question 17

When a gov't. agency reports salaries paid, which measurement of economic activity?

Accepted Answer

GDP

Question 18

An example of a value for a market economy is

Accepted Answer

Local company choosing to produce gaming software

Question 19

John specializes in leasing commercial buildings; which type of resource are the buildings?

Accepted Answer

Capital

Question 20

Tony compared cars to sell at his dealership; which part of decision-making has he performed?

Accepted Answer

Evaluating the advantages and disadvantages of each choice

Question 21

China's interest rates and inflation are rising; which factor of global business environment?

Accepted Answer

Economic conditions

Question 22

Stacey researches proper behavior before visiting another country; which factor of int'l bus?

Accepted Answer

Cultural influences

Question 23

An organization settled a trade dispute between two countries; which organization?

Accepted Answer

World Trade Organization

Question 24

Syria is banned from selling products in other countries; which trade barrier?

Accepted Answer

Embargoes

Question 25

Aruba is known for its white sand beaches; what type of advantage?

Accepted Answer

Absolute

Question 26

Knowing the total value of homes built helps with which economic measurement?

Accepted Answer

GDP

Question 27

Laos has limited infrastructure; which factor of int'l business environment does this affect?

Accepted Answer

Economic development

Question 28

Cuba bans American products w/in its country; which international trade barrier?

Accepted Answer

Embargoes

Question 29

Which is an example of consumers establishing demand?

Accepted Answer

Purchase of iPhones increases daily

Question 30

Alaska produces more salmon than other states; what type of advantage?

Accepted Answer

Absolute

Question 31

Shari adjusted gift-giving practices with Japanese clients; which factor of int'l business?

Accepted Answer

Cultural influences

Question 32

India's terrain allows for production of cotton, rice, wheat; which int'l business factor?

Accepted Answer

Geography

Question 33

Which is an example of consumers setting demand?

Accepted Answer

Consumer bought less of the old version of a video game

Question 34

Breyers plans to increase quantity of ice cream sold; which self-regulating principle?

Accepted Answer

Producers establish supply

Question 35

Mary saved $43,000 in a bank where others can borrow; which economic measurement?

Accepted Answer

Investment activities

Question 36

Which statement is true about balance of payment?

Accepted Answer

Favorable when country receives more than it pays

Question 37

A convenience store gave rights to use its name; which global marketplace entry mode?

Accepted Answer

Franchising

Question 38

If a country's gov't changes bc of war, which factor of international business environment?

Accepted Answer

Political stability

Question 39

An example for a value for a command economy is:

Accepted Answer

Central leadership expecting all profits

Question 40

100 teachers were laid off bc of decreasing enrollment; which measurement of economic activity?

Accepted Answer

Labor activities

Question 41

Jewel Mfg. Co. changed its production line to include more workers; which economic question?

Accepted Answer

How to produce

Question 42

Duty-free shops are set up in UK's highly visited areas; which encouragement of int'l trade?

Accepted Answer

Free-trade zone

Question 43

U.S. is known for efficient wheat production; what type of advantage?

Accepted Answer

Comparative

Duplicate of PBF Standard 1

Questions 43

Duplicate of PBF Standard 1

Questions 43