Business 9 - 12 Test

Ch. 9

100

E-Commerce is another way of saying this.

What is "online shopping"?

200

The physical location of a business is known as this.

What is a "brick-and-mortar"?

300

True or False: Most jobs do not require employees to use technology.

What is "False"?

400

Some benefits of technology in the work place are:

Quicker communication More efficient work

500

The telephone revolutionized communication and the workplace. What year was the telephone invented?

What is "1876"?

Ch. 10

100

The interconnected economies of nations of the world is known as:

What is "global economy"?

200

Things brought IN to the country are known as:

What are "imports"?

300

How is trade "balanced"?

Value of imports and exports of a nation would be EQUAL.

400

When several countries merge their economies into one huge market, it is known as this. Also give an example.

What is "a trade alliance"? Example: NAFTA (U.S, Canada, Mexico) pros: easier to buy oil from Mexico and sell cars there; cons: workers may be displaced, U.S jobs may be lost

500

Sarah and Phillipe are planning to travel to multiple countries and are trying to budget for their trip. They are planning to spend 4000 euros in Germany, 8000 pounds in England, and 1500 zlotys in Poland.

If 1 Euro = 1.13 USD, 1 Pound = 1.28 USD, and 1 Zloty = 0.26 USD, how many dollars do Sarah and Phillipe have to bring?

4000 * 1.13 = 4,520

8000 * 1.28 = 10,240

1500 * 0.26 = 390 

4,520+10,240+390 = 15,150 USD

Ch. 11

100

Trade within one state is called:

What is "intrastate commerce"?

200

What is the difference between a "monopoly" and an "oligopoly"?

A monopoly is one company controls an industry, an oligopoly is when a few companies band together to control an industry.

300

What is the difference between a "copyright", a "patent", and a "trademark"? What are the similarities between these?

All protect creative rights. Copyright - Creations (ex. songs) Patent - Invention (ex. Swiffer) Trademark - Symbol or Character (ex. Wendy from Wendy's; Ronald McDonald, etc.)

400

Monetary grants given to producers or consumers to encourage certain behaviors are called:

What are "subsidies"?

500

Where does tax money come from? What projects does it go towards?

Tax money comes from paying citizens; it goes towards projects that benefit the public (roads, libraries, etc.)

Ch. 12

100

The three functions of money are:

Medium of exchange Standard of Value Store of Value

200

Any firm that manage money are called this.

What is a "financial institution"?

300

Money must be:

Stable Scarce Accepted Divisible Portable Durable

400

Describe the various jobs of a commercial bank - what does it do, what is it, how is it authorized.

offer checking and svings accounts, loans, financial advice (full- service banks) Serve individuals and businesses Authorized through a charter, or license, granted by federal or state government

500

What are the six functions of the Federal Reserve?

Clearing Checks Acting as the Federal Government’s Fiscal Agent Supervising Member Banks Regulating Money Supply Setting Reserve Requirements Supplying Paper Currency

Movie

100

Where the paper used in U.S currency is made.

Where is Massachusetts?

200

The Federal Reserve where money is made is in this city.

What is New York City?

300

Currency in the United States is no longer backed by gold - True or False

What is "True"?

400

List at least two protective measures on money.

What are "watermarks and a reflective strip"?

500

The Chairman of the Federal Reserve at the time of this movie. 

Who is "Alan Greenspan"?