Chapter 1
Fischer’s Appliances is the only business that sells appliances in the household and commercial appliances markets in the country in which it operates. When there is only one business providing a product in a given market, there exists ......
Answer Choices:
A = an oligopoly.
B = monopolistic competition.
C = a monopoly.
A Monopoly.
Securities fraud was classified as a criminal offense because of the ___________.
Answer Choices:
Federal Trade Commission Act.
Sarbanes-Oxley Act.
Sherman Antitrust Act.
Sarbanes-Oxley Act.
The Organization of Petroleum Exporting Countries (OPEC) is an example of a(n)_____________.
Answer Choices:
franchise.
cartel
cartel
Which of the following is the international organization based in Geneva, Switzerland, that was created in 1995 by the Uruguay Round?
Answer Choices:
the World Trade Organization
the Association of Southeast Asian Nations
the World Bank
the World Trade Organization
Chapter 3
_______________ is a specific amount of money levied on each unit of a product brought into a country.
fixed tariff
Chapter 3
________ measures changes in the prices of goods and services purchased for consumption by typical urban households.
Answer Choices:
Consumer price index
Per capita income
GDP
Consumer price index
Ethical decisions in an organization are influenced by individual moral standards, the influence of managers and coworkers, and _____________.
Answer Choices:
the opportunity to engage in misconduct.
individual religious values.
informal ethical policies or rules.
the opportunity to engage in misconduct.
Which of the following was established by the industrialized nations in 1946 to loan money to underdeveloped and developing countries?
Answer Choices:
the Foreign Credit Insurance Association
the World Bank
the International Monetary Fund (IMF)
the World Bank
The United States sells wine to China. From the perspective of the United States, this is called __________.
exporting.
Chapter 3
A(n) ________ tariff is based on the value of an item.
ad valorem
Chapter 3
_________ is an example of a product of monopolistic competition.
Answer Choices:
An airline fare
Electricity
Aspirin
Aspirin
Businesses, like all organizations, have a(n) ________ to obey the law.
Answer Choices:
economic responsibility
legal responsibility
ethical responsibility
legal responsibility
Which of the following were merged into one market by the North American Free Trade Agreement (NAFTA)?
Answer Choices:
Canada, Mexico, and the United States
Brazil, Mexico, and the United States
Canada, Mexico, and the United States
A nation’s ________ can be best defined as the difference in value between its exports and imports.
Answer Choices:
balance of trade
balance of export
balance of import
balance of trade
________ is defined as the activities that individuals, groups, and organizations undertake to protect their rights as customers.
Chapter 2
Consumerism
The four P’s of marketing are ........
product, purchasing, price, and promotion.
An employee copies reports or takes the work or ideas of others and presents it as his or her own without mentioning the source.
plagiarism
Many countries do not allow children to be used in advertising. This is an example of ________ barrier.
a cultural
What is an example of a natural resource?
Land, forests, minerals, water, and other things that are not made by people are natural resources.
Chapter 1
When are the Chapters 1, 2, and 3 Smartbook Questions Due?
Sept. 5, 2024 @ 11:59PM
________ is the primary goal of business.
Profit
Theft of office supplies relates to ____________.
fairness and honesty.
The ________ is the closest thing the world has to an international central bank.
International Monetary Fund (IMF)
A firm’s ________ resources are also known as labor.
Human
Chapter 1
A(n) ________ describes how a particular society distributes its resources to produce goods and services.
Hint: Chapter 1
An economic system describes how a particular society distributes its resources to produce goods and services.
Chapter 1