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100
A monthly index that tracks the prices paid by consumers
What is consumer price index?
100
If the United States exports $100 worth of diamonds to the Kingdom of Mocha and imports $80 worth of bows and arrows, it has a(n)
What is trade surplus?
100
A system where the basic economic questions are determined, at least to some degree, through centralized government planning is referred to as a economy
What is command?
100
The Smithsonian Institution exists to preserve historical and cultural items of value and to share those items with the public; it does not exist to maximize the wealth of any shareholders. This entity is organized as a(n)
What is not-for-profit corporation? 
100
If the Land of Mercury had total exports of $150 billion and total imports of $234 billion, it had a 
What is trade deficit?
200
Examples of command economies include
What is socialism and communism?
200
A partnership formed to operate for a specific time period or to accomplish a specific purpose is known as a 
What is joint venture? 
200
When the United States levies a tax on textiles from India, this tax is a type of
What is tariff?
200
When Microsoft copyrighted its Windows software, it established a(n)
What is legal monopoly?
200
Anyone with the money can purchase shares of Coca-Cola's stock. This makes Coca-Cola a(n)

What is open corporation?

300
When s business has plants located in several foreign countries without ties to any specific nation or region, it is called a(n)
What is multinational enterprise?
300
Diane is passionate about soccer and decides to open her own soccer sporting goods store. She invests her money, time, and effort into making the store a success. Diane can be best described as a(n)
What is an entrepreneur?
300
Foreign licensing is similar to
What is franchising? 
300
Tim Garner owns and operates his own small automobile repair shop. However, the prices he can charge are fixed, and he rents his land and building from the government. Most of his friends work for industries owned by the government. Tim's country is most likely a(n)
What is socialist economy?
300
When Compaq and Hewlett-Packard decided to become one company, this was an example of a(n)
What is horizontal merger?
400
Although it lacks sources of timber and oil, Chablis has a plentiful supply of grapes for its many wineries. What advantage does Chablis have?
What is comparative advantage?
400
Is characterized by many buyers and many sellers
What is perfect competition?
400
Glenn owns and operates a large hardware store in Missouri that employs about fifty people. He delegates some of the decision making to two manager, but he remains the only owner. Glenn's business is organized as a 
What is sole proprietorship? 
400
Because it controls the world's diamond deposits, the DeBeers Consolidated Mines, Ltd., has a(n)
What is absolute advantage?
400
The economic term used to describe the Federal Reserve's actions to determine the size of the supply of money in the nation and the level of interest rates is
What is monetary policy?
500
Unlimited liability is not an advantage of
What is sole proprietorship? 
500
The exportation of large quantities of a product at a price lower than that of the same product in the home market
What is dumping?
500
These resources include the funds needed to pay wages, purchase raw materials, and operate a business
What are financial resources?
500
Walmart is incorporated in Arkansas, the state of its origins and headquarters. Within Arkansas, Walmart is classified as a(n)
What is domestic corporation?
500
The United States wishes to import no more than 100 million tons of sugar from India in any given tear. The type of import restriction it should impose is a(n)
What is import quota?
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