Chapter 1
Business
With enough people to provide labor necessary and purchase goods and services produced you can do what?
Increase a country's GDP
Difference between earned income and costs
Business activities that occur between 2 or more countries
International Business
Who do we play tonight?
Independence
Industrial and Commercial
The percentage of the adult population in the labor force is known as the
Labor Participation Rate
Body of knowledge that relates to producing and using human goods and services that satisfy human wants is known as
Economics
Import
Who sang the original I Will Always Love You?
Dolly Parton
How is efficiency measured
by output and productivity
Is cost of childcare preventing some people from being able to enter the labor force
Yes
Four types of utility
form, time, place, possession
Taxes on foreign goods to protect domestic industries and to earn revenue
Tariffs
This layered pasta dish is usually baked and loved by a certain orange feline
Lasagna
Who are business owners obligated to?
Competitors, investors, public
Most generations these days are changing jobs more than previous generations due to societal factors (T or F)
True
The economic political system that allows private citizens to go into business, produce and distribute what they choose
Capitalism
2 theories of international trade
comparative advantage and product life cycle theories
What musical references the time in a year being 525,600 minutes
Rent
A good made in the US is known as a ?
Domestic Good
How have employers responded to societal factors (3 answers)
redesigning jobs, improving health and safety, and offering telecommunicating/hyprid options
price where both supply and demand meet an equilibrium
Market Price
When 2 or more firms share the costs and profits of doing business
Joint venture
Only 7 players have scored 3 touchdowns in their first games with a new team. One team has had 2 players do it. Who are the 2 players
Saquon Barkley and Terrell Owens