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Vocabulary
International Business//Econ
Terms
Business & Economics
FBLA-PBL
100

A form of business organization defined as an association of two or more persons operating as co-owners.

What is partnership?

100
The difference in value between a nation's imports and exports.
What is balance of trade?
100
the state of being responsible for something
What is liability?
100
The primary goal of all businesses
What is to earn profit
100

What does the acronym FBLA-PBL stand for?

What is Future Business Leaders of America- Phi Beta Lambda

200
Two companies combining to form a new company.
What is a merger?
200
A monopoly that exists when a country is the only source of an item.
What is absolute advantage?
200
The process of dealing with or controlling things or people
What is management?
200
A good or service with tangible and intangible characteristics that provides satisfaction and benefits.
What is a product
200

What are the current project lead positions? (All)

What is, Social Affairs, General Meeting, Community Service, and Marketing

300
A person who organizes and manages any enterprise, usually with considerable initiative and risk.
What is a entrepreneur?
300
Tax levied by a nation on goods imported into the country.
What is import tariff?
300
The sale of goods and services to foreign markets
What is exporting?
300
The study of how resources are distributed for the production of goods and services within a social system
What is economics
300

What are the Formalized rules and standards that describe what a FBLA-PBL expects of its officers and members

What is the club Bylaws

400
A written description of a new business venture that describes all aspects of the business.
What is a business plan?
400
the total amount of money being transferred into and out of a business
What is cash flow?
400
Being able to interact in the workplace.
What is communication?
400
The funds used to acquire the natural and human resources needed to provide products.
What is capital
400

Who is the current Vice President of Finance

Who is Aleyka Sunardi

500
Rivalry among businesses.
What is competition?
500
The basis of most international trade, when a country specializes in products that it can supply more efficiently or at a lower cost.
What is comparative advantage?
500
Businesses owned and operated by one individual.
What is sole proprietorship?
500
An economic system in which the government owns and operates basic industries but individuals own most businesses.
What is socialism
500

Who currently serves as your secretary of FBLA-PBL

Who is Kaya Roberts