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BUSINESS 115 Midterm-multiple choice & essay questions All Answers Correct.
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Page 1

 

1.         Question :       

(TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services.

 

                                     Business

                                     Goods

                                     Services

                                     Entrepreneur

                                     Revenue    

 

 

Question 2.      Question :       

(TCO 1) A behavioral science that studies how society chooses to employ resources to produce goods and services and distribute them.

 

                                     Economics

                                     Microeconomics

                                     Macroeconomics

                                     Resource development

                                     Invisible Hand 

 

 

Question 3.      Question :       

(TCO 1) Selling products to another country.

 

                                     Importing

                                     Exporting

                                     Free Trade

                                     Absolute advantage

                                     Comparative advantage

 

 

Question 4.      Question :       

(TCO 2) A business’s concern for the welfare of society.

 

                                     Corporate policy

                                     Corporate responsibility

                                     Corporate social initiatives

                                     CSR

                                     Ethics

            

Question 5.      Question :       

(TCO 3) The difference between money flowing into a country and money flowing out of a country.

 

                                     Balance of payments

                                     Balance of trade

                                     Common Market

                                     Countertrading

                                     Devaluation  

 

 

Question 6.      Question :       

(TCO 3) An unfavorable balance of trade occurs when the value of a country’s imports exceeds that of its exports.

 

                                     Trade surplus

                                     Trade deficit

                                     Tariffs

                                     Strategic alliance

                                     Multinational corporation

 

 

Question 7.      Question :       

(TCO 4) Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership, with the objective of reselling the business at a proft.

 

                                     Venture Capitalists

                                     Extrapreneurs

                                     Intrapreneurs

                                     Angel Investors

                                     None of the above

 

Page 2

 

Question 1.         Question :       

 

(TCO 1) Describe and explain capitalism and how it functions in a free market economy.

 

 

Question 2.      Question :       

 

(TCO 2) Your boss has asked you to assist him after normal work hours with shredding some documents. The division vice president announced a federal level investigation in last week’s “All-call; All-attend” staff meeting. You need your job and you want to help your boss. But you’re just not sure in this particular situation. What is the ethical problem in this situation? What steps should you take? When should you take them? Who should you talk to about this? Why?

 

 

Question 3.      Question :       

 

(TCO 3) Describe and explain the fundamentals of the international market. Why do nations trade and how trade measured.

 

 

Question 4.      Question :       

 

(TCO 4) Describe and explain the qualities of successful entrepreneurs.

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BUSINESS 115 Midterm-multiple choice & essay questions All Answers Correct.
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