| Chapter 1: Exploring Economics | Chapter 1: How the economy works. | Measuring Economic Performance | Ethics in the workplace | International Trade |
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| Final Question | ||||
A company has the right to market and aquire other firms freely operates in an
A company has the right to market and aquire other firms freely operates in an
What is Free Enterprise or Free Market?
The 700 billion dollar bailout plan created to stablize the nations economy is
The 700 billion dollar bailout plan created to stablize the nations economy is
What is the Economic Stabilization Act?
The organized effort of individuals to produce and sell for a profit the goods that satisfy a societies need
The organized effort of individuals to produce and sell for a profit the goods that satisfy a societies need
What is Business?
For a Business to be organized it must have 4 kinds of resources name them.
For a Business to be organized it must have 4 kinds of resources name them.
What is material, human, financial, and informational
What remains after all business expenses have been deducted from sales.
What remains after all business expenses have been deducted from sales.
What is Profit?
The study of how wealth is created and distributed
The study of how wealth is created and distributed
What is Economics?
The study of an individuals economic decisions is an example of
The study of an individuals economic decisions is an example of
What is Microeconomics?
Factors of Production are the resources used to produce goods and services name them
Factors of Production are the resources used to produce goods and services name them
Land, Labor, Capital, Entrepreneurship
The man known as the father of capitalism and his rival enemy the father of Communism
The man known as the father of capitalism and his rival enemy the father of Communism
1st, Who is Adam Smith; Who is Karl Marx?
What portion of our nation's total production is made up of consumer goods?
What portion of our nation's total production is made up of consumer goods?
What is 70%
fluctuations in a nation's economy is know to be
fluctuations in a nation's economy is know to be
What is the business cycle?
What are the four phases of a typical business cycle
What are the four phases of a typical business cycle
What are prospertiy, recessions, trough and recover?
The federal reserve uses ______________ when it lowers the interest rates on loans
The federal reserve uses ______________ when it lowers the interest rates on loans
What is monetary policy?
What is the national debt listed to be in the book from 2002-2007?
What is the national debt listed to be in the book from 2002-2007?
What is 9.6 Trillion?
One of Samuel Slater's contribution to the development of business
One of Samuel Slater's contribution to the development of business
What is the factory system?
The ______ factor affecting ethical behavior includes on's moral values and central attitudes
The ______ factor affecting ethical behavior includes on's moral values and central attitudes
What are individual factors?
The study of the morality of choices made by people
The study of the morality of choices made by people
What is Ethics?
Some Enron executives were aware of the financial problems and didn't do anything. What is this called?
Some Enron executives were aware of the financial problems and didn't do anything. What is this called?
What is Unethical?
What are the three set of factors that influence the standards of behavior in an organization
What are the three set of factors that influence the standards of behavior in an organization
Opportunity, individual factors, social factors
When faced with an ethical conflict, a manager should always
When faced with an ethical conflict, a manager should always
think about his or her own ethics; the company’s ethics; and the interest of stakeholders
A complete halt to trading with a particular nation or in a particular product is
A complete halt to trading with a particular nation or in a particular product is
What is Embargo?
__________ is the ability to produce a specific product more efficiently than others
__________ is the ability to produce a specific product more efficiently than others
What is comparative advantage?
By definition, every country has a(n) __________ advantage in some product.
By definition, every country has a(n) __________ advantage in some product.
What is Comparative advantage?
Selling and shipping raw materials or products to other nations is called
Selling and shipping raw materials or products to other nations is called
What is exporting?
When a country imports more than it exports, it has a(n)
When a country imports more than it exports, it has a(n)
What is favorable balance of trade?
The US does not sell fighter jets to Libya. The restiction is most likely due to
The US does not sell fighter jets to Libya. The restiction is most likely due to
What is protect national security
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