Unit 1 Section 1
Unit 1 Section 1
Unit 1 Section 2
Unit 1 Section 2
Unit 1 Section 3
100
Companies located in the Research Triangle Park reported that they have hired many graduates who have earned technology degrees from the local community college. Which resource will the graduates provide for the companies? a. Capital b. Human c. Natural d. Service
What is Human?
100
Eddie decided he would use real butter for his baked goods. Which economic question does this address? u. For whom to produce? v. How to produce? w. What to produce? x. When to produce
What is v. How to produce?
100
If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities? a. Consumer Spending b. GDP c. Investment Activities d. Labor activities
What is GDP?
100
Mary is proud of saving over $43,000 in a bank. She knows that her saving money at the bank will provide funds for others to borrow money. This information would be useful for which measurement of economic activities? a. Borrowing b. Consumer Spending c. Investment Activities d. Labor activities
What is Investment Activities?
100
1. Aruba has become globally known for its white sandy beaches. It is relied upon by many travelers from other countries to enjoy its beaches at a reasonable cost. This is an example of what type of ADVANTAGE? a. Absolute b. Comparative c. Competitive d. Dual
What is Absolute?
200
Widgets Unlimited Company examined several options of additional benefits to offer its employees. The company has decided to offer health care insurance. Which part of the economic decision-making process has it performed? e. Defining the Problem f. Evaluating the advantages and disadvantages of each choice g. Choosing one choice h. Acting on a choice
What is Choosing one choice?
200
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
What is Political and Legal Concerns?
200
2. When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities? a. Consumer Spending b. GDP c. Investment Activities d. Labor activities
What is GDP?
200
8. A report covering four quarters about the economy includes that more companies are experiencing less production and reducing the number of employees. Which phase of the business cycle does this report describe? a. Depression b. Prosperity c. Recession d. Recovery
What is Recession?
200
2. United States has become globally known for its production of wheat more resourcefully. It can produce the product with less human resources. This is an example of what type of ADVANTAGE? a. Absolute b. Comparative c. Competitive d. Dual Advantage
What is Comparative?
300
Which is an example of a company establishing supply? i. Ann Express Shipping Company trains all new managers at its districts offices j. Pamolive Detergent Company produces fewer products. k. Reebok Footwear Company trying to lease a warehouse. l. Sears Department Store promotes a family-orientated atmosphere.
What is Pamolive Detergent Company produces fewer products?
300
Laos has limited infrastructure that will hinder international businesses to conduct transactions in it. This country depends heavily on the agricultural industry. 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
What is Economic development?
300
In a hypothetical economy, only 40 people were included and 15 pizzas were produced last year at $7 dollars each. This information would be useful for which measurement of economic activities? a. Consumer Spending b. GDP c. GDP per Capita d. Labor activities
What is GDP per Capita?
300
A report covering several quarters about the economy includes that more companies are experiencing record high production and adding new employees. Also, wages and the rate of GDP are increasing significantly. Which phase of the business cycle does this report describe? a. Depression b. Prosperity c. Recession d. Recovery
What is Prosperity?
300
3. Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE? a. Absolute b. Comparative c. Competitive d. Dual
What is a. Absolute?
400
10. What is the market price for a bottle of perfume using the following figures? m. $36 n. $38 o. $40 p. $42
What is $38?
400
10. 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
What is Cultural Influences?
400
Due to decreasing enrollment in a local school system, fewer teachers as employees are needed. As a result, over 100 teachers were released from their commitments. This information would be useful for which measurement of economic activities? a. Consumer Spending b. GDP c. GDP per Capita d. Labor activities
What is Labor activities?
400
Which statement is true about balance of payment? a. Balance of payments is favorable when a company pays more money out of it than it receives in it. b. Balance of payments is favorable when a company receives more money into it than it pays out. c. Balance of payments is favorable when a country pays more money out of it than it receives in it. d. Balance of payments is favorable when a country receives more money into it than it pays out.
What is Balance of payments is favorable when a country receives more money into it than it pays out?
400
5. 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
What is d. Political Stability?
500
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? q. For whom to produce? r. How to Produce? s. What to produce? t. When to produce?
What is For whom to produce?
500
11. While conducting business in Japan, Shari adjusted her gift-giving practices to accommodate her Japanese business-partners. Which main factor of the international business environment did Shari consider? a. Cultural development b. Economic development c. Geography d. Political and Legal Concerns
What is Cultural development?
500
India’s terrain allows for its major production of rice, cotton, and wheat. Which main factor of the international business environment is this information about India classified? a. Cultural Influences b. Economic development c. Geography d. Political and Legal Concerns
What is c. Geography?
500
6. If China has rising interest rates and inflation occurring across the country, 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
What is c. Economic Conditions?
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