Economics and Global Business
The selling and shipping of raw materials or products to other nations is called Importing OR Exporting?
Importing
TRUE or FALSE
Directing is the combined processes of leading and motivating.
True
Who are the two front runners for the 2020 Democratic Presidential Nomination?
This guide provides information to employees about acceptable and ethical behavior as defined by the organization.
Code of ethics
True or False.
Sole Proprietorships and Partnerships are difficult to start up.
False. Ease of start-up is an advantage of both SP's and Partnerships.
A general rise in the level of prices is called what?
Inflation
The Management Process has 4 components. Name two of these four components.
Planning, Organizing, Leading/Motivating, and Controlling
Which HBCU did Professor Wood attend?
NC A&T State University
True or False.
Ethics is the study of profit and loss and the decisions people make.
False
Name an example or a Horizontal Merger?
Horizontal Mergers occur between two companies that are in the same kinds of business.
This is a type of trade restriction that acts like a TAX on a particular foreign product entering a country is called
A Tariff
We discussed three styles of leadership styles. Name one of the three.
Autocratic, Participative, and Entrepreneurial
What time does class begin on Tuesdays and Thursday?
9:30am. I look forward to seeing you in class on time on these days.
As a consumer, you have certain rights. One, for example is the right to safety. Name another right consumers have.
The right to be informed
The right to choose
The right to be heard
The right to service
The right to consumer information
Name two advantages a Corporation type of business ownership.
Ease of raising capital, ease of ownership transfer, limited liability, perpetual life, specialized management
What are the stages of the Business Cycle?
Peak, Recession, Trough, and Recovery (or Expansion)
Steve Jobs was known for seeing the “big picture.” He understood how products could meet consumer needs before they did. These types of skills are known as _______________ skills.
Conceptual
Land, Labor, Capital, and Entrepreneurship
What is the name of the government regulation created to encourage transparency in financial reporting and corporate governance in public companies.
Sarbanes-Oxley (SOX) Act of 2002
What is the name of the legal concept that holds a business owner personally responsibility for all the debts of the business?
Unlimited liability
Which of the following is not one of the four main resources used by business today?
Material, Informational, Governmental, Financial or Human?
Governmental
A SWOT analysis is used in the planning phase to evaluate certain aspects of an organization. What does SWOT stand for?
Strengths, Weakness, Opportunities, and Threats
Who won the 2020 Superbowl
The Kansas City Chiefs
An issue related to fairness and honesty that involves knowingly taking the words, ideas, or original material of others without acknowledging the sources is known as ______.
Plagiarism
This type of corporation is organized to provide a social, educational, religious, or other service other than to earn a profit. What is it this type of business ownership called?
Not-for-profit organization