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Unit 1 Section 1
Unit 1 Section 2
Unit 1 Section 2 Continued
Unit 1 Section 3
Unit 1 Section 3 Continued
100
Companies located in the Research Triangle Park reported that they have hired many graduates who have earned technology degrees from the local community college. Which resource will the graduates provide for the companies?
What is Human?
100
If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities?
What is GDP?
100
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?
What is Consumer spending?
100
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?
What is Absolute?
100
If China has rising interest rates and inflation occurring across the country, this is an example of which factor that influences international currency exchange?
What are Economic conditions?
200
Widgets Unlimited Company examined several options of additional benefits to offer its employees. The company has decided to offer health care insurance. Which part of the economic decision-making process has it performed?
What is Choosing one choice?
200
When a government agency reports annually the total amount spent to pay employees, this information is useful for which measurement of economic activities?
What is GDP?
200
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?
What are Investment activities?
200
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?
What is Comparative?
200
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?
What is Geography?
300
Which is an example of a company establishing supply? A. Ann Express Shipping Company trains all new managers at its district offices. B. Pamolive Detergent Company produces fewer products. C. Reebok footwear company trying to lease a warehouse. D. Sears Department Store promotes a family-oriented atomshphere.
What is B. Pamolive Detergent Company produces fewer products.
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?
What is GDP per capita?
300
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?
What is Recession?
300
Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE?
What is Absolute?
300
The government of the United States allows consumers to make decisions about goods and services consumed. Which main factor of the international business environment is this information about this country classified?
What are Political and legal concerns?
400
Goya Food Company survey results revealed that their customer base consists mostly of large families instead of individuals living alone. Which economic question does this address?
What is For whom to produce?
400
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?
What are Labor activities?
400
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?
What is a Prosperity?
400
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 D. Balance of payments is favorable when a country receives more money into it than it pays out.
400
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?
What is Economic development?
500
Eddie decided he would use real butter for his baked goods. Which economic question does this address?
What is How to produce?
500
A cosmetic company purchased an automatic wrapping machine that wraps a pallet of boxes in 30 seconds. To complete the same task manually, it would take an employee almost 3 minutes. This information would be useful for which measurement of economic activities?
What are Labor activities?
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?
What is Political stability?
500
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?
What are Cultural influences?