Question 1. Question
: (TCO 1) The amount of money a
business takes in during a given time period by selling goods and/or selling
services.
Business
Goods
Services
Entrepreneur
Revenue
Question 2. Question
: (TCO 1) A behavioral science
that studies how society chooses to employ resources to produce goods and
services and distribute them.
Economics
Microeconomics
Macroeconomics
Resource development
Invisible Hand
Question 3. Question
: (TCO 1) That part of economics
that studies the behavior of people and organizations in particular markets.
Economics
Microeconomics
Macroeconomics
Resource development
Invisible Hand
Question 4. Question
: (TCO 2) An unethical activity
in which insiders use private company information to further their own fortunes
or those of their family and friends.
Insider trading
Social audit
Socially conscious investors
Environmentalists
Union officials
Question 5. Question
: (TCO 3) The difference between
money flowing into a country and money flowing out of a country.
Balance of payments
Balance of trade
Common Market
Countertrading
Devaluation
Question 6. Question
: (TCO 3) An unfavorable balance
of trade occurs when the value of a countryΓ’ΒΒs imports exceeds that of its
exports.
Trade surplus
Trade deficit
Tariffs
Strategic alliance
Multinational corporation
Question 7. Question
: (TCO 4) Investors who provide
money to finance new businesses or turnarounds in exchange for a portion of
ownership, with the objective of reselling the business at a proft.
Venture Capitalists
Extrapreneurs
Intrapreneurs
Angel Investors
None of the above
. Question
: (TCO 1) Describe and explain
capitalism and how it functions in a free market economy.
Question 2. Question
: (TCO 2) Describe and explain
corporate responsibility using an ethical perspective. Your stakeholder group
for your answer is parents of high school students. Your company designs,
produces, and sells video game apps for the mobile market. A concern has been
raised in the community where your company is located about the violence
portrayed in your mobile video game apps. What do you say to the parents? Why?
Question 3. Question
: (TCO 3) Describe the
importance of understanding cultural and legal differences in the global
business environment.
Question 4. Question
: (TCO 4) Describe the
importance of small business and entrepreneurship in the U.S. Economy.
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