Vocab Questions
Vocab Questions
Vocab Questions
Vocab Questions
Vocab Questions
100
4. Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using? A. Capital B. Human C. Natural D. Service
What is Natural
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
Tina needs to find employment to earn an income. She applied for positions as a teacher, contractor, and coordinator. Which part of the economic decision-making process has she performed? A. Defining the problem B. Identifying choices C. Evaluating the advantages and disadvantages of each choice D. Choosing one choice
What is Identifying choices
100
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
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
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
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
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
200
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
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.
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
An example of a value for a command economy is: A. a central leadership group expecting all the profit from production. B. a local company choosing to produce 10,000 televisions. C. a local group producing televisions the same way through the years. D. an individual deciding to purchase three new televisions.
What is a central leadership group expecting all the profit from production.
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
Syria is banned from selling products within other countries. This is an example of which international trade barrier? A. Embargoes B. Free-trade zones C. Quotas D. Tariffs
What is Embargoes
400
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
400
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
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’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
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 advantage
What is Comparative
500
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
500
An organization assisted two countries on settling a trade disagreement on tariffs. 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 Organization
500
Which is an example of consumers setting the demand? A. Consumers bought less of the old version of a video game once the new one was released. B. The department store changing its staff. C. The wait for employees returning equipment decreased. D. The footwear company moving in its new building.
What is Consumers bought less of the old version of a video game once the new one was released.
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? A. Balance of payments B. Balance of trade C. Economic conditions D. Political stability
What is Political stability
500
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
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