Vocats

same

100

An example of a value for a command economy is?

a central leadership group expecting all the profit from production?

200

Brandon’s Towing Company added flat tire replacement services. Which economic question does this address?

What to produce

300

Cuba bans American products to be sold within its country. This is an example of which international trade barrier?

Embargoes

400

Syria is banned from selling products within other countries. This is an example of which international trade barrier?

Embargoes

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?

Free-trade zone

same

100

An organization assisted two countries on settling a trade disagreement on the amount of bananas to be traded. This action is an assistance provided by which international trade organization?

World Trade Organization

200

The North American Free Trade Association (NAFTA) eliminates tariffs and embargoes among its members while trading goods and services. This is an example of which encouragement of international trade?

Free-trade agreement

300

India limits the amount of imported wheat products to protect its own industry. This is an example of which international trade barrier?

Quotas

400

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?

Cultural influences

500

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?

Political and legal concerns

same

100

Jane’s Steakhouse offers several dishes that may include whole wheat, corn, or beef. Which type of resource is included in the dishes?

Natural

200

Duke Energy Power Company uses water to power the area. Which resource is Duke Energy Power using?

Natural

300

Tony is trying to decide on which cars to sell at his dealership. He completed a spreadsheet to compare the options of cars. Which part of economic decision-making process has he performed?

Evaluating the advantages and disadvantages of each choice

400

An example of a value for a command economy is:

a central leadership group expecting all the profit from production.

500

Which is an example of consumers establishing demand?

the purchase of iPhone applications increasing daily

same

100

Jewel Manufacturing Company changed its production line to include more workers and decrease production time. Which economic question does this address?

how to produce

200

If an economist researches annually the total value of homes built, this information would be useful for which measurement of economic activities?

GDP

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?

GDP per capital

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?

Consumer spending

500

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?

Recession

same

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?

Absolute

200

Alaska produces more salmon by the pound than any other state that exports salmon. This is an example of what type of ADVANTAGE?

Absolute

300

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?

Political stability

400

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?

Geography

500

If China has rising interest rates and inflation occurring across the country, this is an example of which factor that influences international currency exchange?

Economic conditions