Chapter 1
Chapter 2
Chapter 3
Chapter 4
Bonus
100
The chance an entrepreneur takes of losing time and money on a business that may not be profitable.
What is Risk?
100
The business topic should you think of every time you hear the phrase "Big Mac".
What is Macroeconomics?
100
Selling products to another country.
What is Exporting?
100
An insider who reports illegal or unethical behavior.
What is a Whistleblower?
100
The total value of a nation’s exports compared to its imports measured over a particular period of time.
What is Balance of Trade?
200
The total amount of money a business takes in during a given time period by selling goods and services.
What is Revenue?
200
Name the Four Degrees of Competition.
What is Perfect Competition, Monopolistic Competition, Oligopoly, and Monopoly?
200
A country should sell the products it produces most efficiently and buy from other countries the products it cannot produce as effectively.
What is Comparative Advantage?
200
A business's concern for the welfare of society.
What is Corporate Social Responsibility?
200
He believed that if the economy was in a recession, the government should increase spending and cut taxes to stimulate the economy for a short term.
Who is John Maynard Keynes?
300
The amount of goods and services people can buy with the money they have.
What is Standard of Living?
300
An economic system based on the premise that some basic businesses, like utilities, should be owned by the government in order to more evenly distribute profits among the people.
What is Socialism?
300
The movement of goods and services among nations without political or economic barriers.
What is Free Trade?
300
Ethical standards that define the organization's guiding values, create an environment that supports ethically sound behavior, and stress a shared accountability among employees.
What is Integrity-Based Ethics Codes?
300
Selling products in a foreign country at lower prices than those charged in the producing company.
What is Dumping?
400
Of the Five Factors of Production, which is the most important?
What is Knowledge?
400
The process that occurs when self-directed gain leads to social and economic benefits for all.
What is The Invisible Hand?
400
An attitude that your own culture is superior to others.
What is Ethnocentricity?
400
If you're faced with an ethical dilemma, what 3 questions should you ask yourself?
What are is my proposed action legal? Is it balanced? and How will it make me feel about myself?
400
Name the 5 Interdependent Business Processes, according to your instructor.
Value Creation, Marketing, Sales, Value Delivery, Finance.
500
These make up about 70% of the U.S. economy.
What are Services?
500
Capitalism's Four Basic Rights.
What is The right to own private property, the right to own a business and keep all that business's profits, the right to freedom of competition, and the right to freedom of choice?
500
The use of government regulations to limit the import of goods and services.
What is Trade Protectionism?
500
Standards of moral behavior accepted by society as either right or wrong.
What is Ethics?
500
Define business, according to your instructor.
What is Business is a repeatable process that creates something of value, that other people want or need, at a price they're willing to pay, in a way that satisfies the customer's needs and expectations, so that the business makes enough profit to be worthwhile for the owners to keep operating.
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