Chapter 2 Assessment Questions

lesson 2-1

100

b. Purchases of computers by government

Which of the following would not be included in GDP? a. Exports to other countries b. Purchases of computers by government c. Automobiles purchased d. Dinner preparation for your family

200

c. Decreased training programs

Productivity would likely increase as a result of a. Higher taxes b. Expanded production technology c. Decreased training programs d. Lower government spending

300

d. School supplies bought by students

Retail sales include a. Taxes collected b. Companies buying new equipment c. Borrowing by business d. School supplies bought by students

400

b. Franchise

Since Janes corporation has become so popular, she has decided to allow other businesses to sell her products. This is an example of what type of business? a. Corporation b. Franchise c. Partnership d. sole proprietorship

500

c. Partnership

carlos ignores minor decsions in his businesseven though his name is one sigh as one of the owners. this is an example of what type of business ownership? a. Corporation b. Franchise c. Partnership d. Sole propriertorship

Lesson 2-2

100

1. False

1. True or False. Deflation results in lower buying power of money.

200

1. True

True or false. When consumers increase their borrowing, interest rates tend to decline.

300

C. Prosperity

The phase of the business cycle in which unemployment is highest is a. Recession b. Recovery c. Prosperity d. Depression

400

b. keeping detail records of banking transactions

which is an example of product development? a. Installing a plastic mold. b. keeping detail records of banking transactions c. Processing purchase orders d. studing new functions for a detergent

500

b. 8%

Sent $8,000 of its $97,000 workplace wellness budget on pedometers. what percent of its budget was used? a. 4% b. 8% c. 12% d. 16%

Lesson 2-3

100

B. Ownership in a company or other asset

Equity refers to a. Reduced spending by government b. Ownership in a company or other asset c. Borrowing to finance a capital project d. Increased government taxes

200

C. Higher borrowing

Which of the following would most likely cause a budget surplus for government? a. Higher spending b. Lower spending c. Higher borrowing d. Lower taxes

300

c. 150

Chun purchased 150 shares of stock in the Panasonic Company. How many votes will she have at the next stockholders meeting. a. 3 b. 30 c. 150 d. 300

400

d. Political and legal concerns

the government of the united states allows consumers to make decisions about goods and services consumed. Which main factor of the international business environment is this information about this country classified? a. Cultural influences b. Economic development c. Geography d. Political and legal concerns

500

a. Cultural influences

Before arriving at meetings in other countries to negotiate contracts for a company located in the United states, Stacy learns about appropriate business behavior of the other countries. Which main factor of the international business environment is this information she learns classified? a. Cultural influences b. Economic Development c. Geography d. Political and legal concerns

mitirela questions

100

a. Embargoes

Syria is banned from selling products within other countries. This is example of which international trade barrier. a. Embargoes b. Free-trade zones c. Quotas d. Tariffs

200

a. For whom to produce?

Goya Food Company survey results revealed that their customer base consists mostly of large families instead of individuals living alone. Which economic question does this address? a. For whom to produce? b. How to produce? c. What to produce? d. When to produce?

300

c. Geography

Indias terrain allow for its major production of rice,cotton, wheat. Which main factor of the international business environment is this information about India. a. Cultural influences b. Economic development c. Geography d. Political and legal concerns

400

b. Franchising

A convenience store gave the rights to a company in mexico to sell its products and services. This is an example of which global marketplace main entry mode? a. Chain b. Franchising c. Joint venture d. licensing

500

a. Cooperative

Several small businesses that sell organic foods have joined together to increase their chances to pay lower prices for inventory. This is an example of what type of business? a. Cooperative b. Corporation c. Franchise d. Sole proprietorship

mitirela questions

100

b. How to produce?

Eddie decided he would use real butter for his baked goods. Which economic question does this address? a. For whom to produce? b. How to produce? c. What to produce? d. When to produce?

200

b. Pamolive Detergent Company produces fewer products.

Which is an example of a company establishing supply? a. Ana Express Shipping Company trains all new managers at its district offices. b. Pamolive Detergent Company produces fewer products. c. Reebok footwear company trying to lease a warehouse. d. Sears Department Store promotes a family-oriented atomshphere.

300

c. Quotas

India limits the amount of imported wheat products to protect its own industry. This is an example of which international trade barrier? a. Embargoes b. Free-trade zones c. Quotas b. Tariffs

400

b. Corporation

Even though a company may sell shares of shock, it relies on a central body of people for financial directions. This is an example of what type of business? a. Cooperative b. Corporation c. Partnership d. Sole proprietorship

500

d.Political stability

If a country is in a civil war and its government changes abruptly, this is an example of which factor that influences international currency exchange? a. Balance of payments b. Balance of trade c. Economic conditions d.Political stability