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BBI Business Fun(damentals) 2018 Flashcards | StudBud
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BBI Business Fun(damentals) 2018
BBI Business Fun(damentals) 2018
32 terms
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StudBud Administration
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business
Flashcards
32 cards
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Questions
32
Answers
1
benefits gained from international trade include
cheap labour
access to resources & markets
all are a benefits
increased quality & quantity of goods
2
Businesses that act in the interest of their stakeholder are practicing
long term planning
triple bottom line
corporate social responsibility
common sense
3
a document that explains specifically how employees should respond in certain situations
laws
human rights
morales
code of ethics
4
Coke glossing over the impact it's beverage has on obesity issue
bluewashing
greenwashing
pinkwashing
whitewashing
5
practice of hiring service providers from countries outside country where head office is based
offshore outsourcing
accessing resources
outsourcing
reducing labour costs
6
the 5P of international business indicate the primary reason the US is our #1 trading partner
price
proximity
preference
product
7
Type of economic system that operates based on supply and demand?
mixed economy
market economy
all economies
command economy
8
both a benefit and a criticism of CSR
used as a marketing tool
attract and retain employees
eats up employee time and energy
responsibility should be to shareholders
9
business structure which involves 2 companies working together and sharing equal ownership
cooperative
partnership
franchise
joint venture
10
where supply and demand curves meet is called
equal
equilibrium
price
x marks the spot
11
disadvantage to sole proprietorship
ease of starting business
profits go in own pocket
unlimited liability
make own decision
12
tariffs or custom duties are/do all of the following except
subject to international agreements
tax on certain types of imports
standard that needs to be meet prior to entry into country
give an advantage to domestic businesses
13
an example of an internal stakeholder would be
management
community
suppliers
consumers
14
common ethical dilemmas faced by businesses
cooking the books
downsizing staff
dumping of toxic waste
overstating revenue earned
15
law of supply & demand can be used to answer the following basic economic questions
For whom goods and services should be produced
how goods and services should be produced
who should produce goods and services
What goods and services should be produced
16
type of business that is motivated by providing service not profit
corporation
franchise
co-operative
partnership
17
the value of the goods a country imports exceeds the value of the goods it exports
trade surplus
trade deficit
excise duty
trade balance
18
Friedman's theory about CSR suggests that ...
triple bottom line applies
provides for long term planning
focused on sustainability
businesses are stealing from shareholders
19
when an employee informs officials or the public about an illegal or ethical violation
required by law
public service
whistleblowing
turning on colleagues
20
Another name for a pyramid scheme when committing fraud is
ponzi scheme
profiteer scheme
giving back to shareholders
good business
21
Type of business owned by its workers or members who buy from the business
sole proprietorship
co-operative
corporation
partnership
22
rules that help us tell the difference between right and wrong
morals
ethics
values
laws
23
What affects demand?
change in expectations
all of the above
change in population
change in consumer tastes
24
MNC stands for...
global interdependency
self sufficiency
multi-nation cooperation
multinational corporation
25
all of the following are true about partnerships as a form of ownership except
both limited & unlimited liability could apply
shared responsibility
disagreements with multiple owners
limited to only 2 partners
26
When a company's marketing says that its product is environmentally friendly yet it is harmful.
ethical dilemma
greenwashing
fraud
illegal
27
organization that monitors trade relations amongst countries
wto
eu
nobody
group of 8
28
when two or more nations rely on each other for products or services it is called
sustainability
national degradation
global interdependency
self-sufficiency
29
selling of items produced in the same country
regional
province wide
international
domestic
30
as prices increase suppliers will
increase supply
decrease supply
increase marketing efforts
demand will increase
31
if there is an increase in producers of t-shirts which of the following occurs?
increased supply, increased demand
decreased price, decreased demand
increased supply, decrease in price
increased supply, decreased demand
32
International business has 5P's including when countries specializing in certain types of goods
proximity
promotion
product
preference
