Vocab Questions
Vocab Questions
Vocab Questions
Vocab Questions
Vocab Questions
100
Janes's steakhouse offers several dishes that may include whole wheat,corn or beef.Which type of resource is included in the dishes? A. Capital B. Human C. Natural D. Service
What is Natural
100
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 Absolute
100
Due to the high volume of travelers visiting the United Kingdom, the country has set up duty-free shops in highly visited areas. This is an example of which encouragement of international trade? A. Embargo B. Free-trade agreement C. Free-trade zone D. Tariff
What is Free Trade Zone
100
Cuba bans American products to be sold within its country. This is an example of which international trade barrier? A. Embargoes B. Free-trade zones C. Quotas D. Tariffs
What is Embargos
100
Several Prime Ministers of East African countries are negotiating the trade of products and services throughout the Eastern region. This is an example of which encouragement of international trade? A. Common markets B. Embargo C. Free-trade zone D. Tariff
What is Common Markets
200
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 Political stability
200
An example of a value for a market economy is a: A. central leadership group expecting all the profit from production. B. local company choosing to produce gaming software. C. local group believing in following traditions at work. D. local group producing televisions the same way through the years.
What is local company choosing to produce gaming software
200
Which is an example of consumers establishing demand? A. The department store changing its staff B. The footwear company moving in its new building C. The purchase of iPhone applications increasing daily D. The wait to return recalled equipment decreasing daily
What is The purchase of iPhone applications increasing daily
200
Bryers Ice Cream Company plans to increase the quantity of ice cream sold per quarter. This is an example of which self-regulating principle of a market economy? A. Consumers set demand B. Producers establish supply C. Supply and demand generated competition D. Demand and supply factors influence market prices
What is Producers establish supply
200
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
300
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 influences B. Economic development C. Geography D. Political and legal concerns
What is Cultural Influences
300
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 Geography
300
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
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? A. Borrowing B. Consumer spending C. Investment activities D. Labor activities
What is Investment activities
300
Which is an example of a company establishing supply? A. Ann Jones Clothing Store upgrades its equipment regularly. B. Reebok footwear company is trying to attract more middle-aged customers. C. Sears Department Store displays fewer lawn mowers. D. Walmart sends only five touch screen computers to each store
What is Walmart sends only five touch screen computers to each store
400
Duke energy company uses water to power the area.Which resource is duke energy using? A. Capital B. Human C. Natural D. Service
What is Natural
400
Tony organized all the automobiles that he has decided to sell at his dealership. Which part of economic decisionmaking process has he performed? A. Defining the problem B. Evaluating the advantages and disadvantages of each choice C. Choosing one choice D. Acting on a choice
What is Acting on Choice
400
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 advantag
What is Comparative
400
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? A. Borrowing B. Consumer spending C. Investment activities D. Labor activities
What is Consumer spending
400
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 D. Tariffs
What is Quotas
500
An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an example of assistance provided by which international trade organization? A. International Monetary Fund B. Joint Venture C. World Bank D. World Trade Organization
What is World Trade Organizations
500
Jewel Manufacturing Company changed its production line to include more workers and decrease production time. Which economic question does this address? A. For whom to produce? B. How to produce? C. What to produce? D. When to produce
What is How to produce
500
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
500
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
500
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
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