1.1 Understand economic systems
1.2 Understand economic activities and conditions
1.3 Understand business in the global marketplace
1.3 Understand business in the global marketplace 2
Unit 1 Pot Luck
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?
What is Human
100
If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities?
What is GDP
100
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?
What is Absolute
100
If China has rising interest rates and inflation occurring across the country, this is an example of which factor that influences international currency exchange?
What is Economic conditions
100
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?
What is Cultural influences
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?
What is choosing one choice
200
When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities?
What is GDP
200
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?
What is Comparative
200
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?
What is Geography
200
Department stores report monthly to the state commerce office its total sales of goods and services. This information would be useful for which measurement of economic activities?
What is Consumer spending
300
Pamolive Detergent Company produces fewer products.
What is a company establishing supply
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?
What is GDP per capita
300
Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE?
What is Absolute
300
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?
What is Political and legal concerns
300
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?
What is Investment activities
400
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?
What is For whom to produce?
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?
What is Labor activities
400
Balance of payments is unfavorable when a country receives more money into it than it pays out. True of False
What is False
400
DAILY DOUBLE: 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?
What is Economic development
400
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?
What is Recession
500
Eddie decided he would use real butter for his baked goods. Which economic question does this address?
What is How to produce?
500
A cosmetic company purchased an automatic wrapping machine that wraps a pallet of boxes in 30 seconds. To complete the same task manually, it would take an employee almost 3 minutes. This information would be useful for which measurement of economic activities?
What is Labor activities
500
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?
What is Political stability
500
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?
What is Cultural influences
500
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?
What is Prosperity
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