Business 3

true/false... Bartering is a preferred method of exchange, because you immediately have an item that you want
True False

true/false...the primary way banks generate profits is by repossessing cars and foreclosing on homes
True False

true/false...in a market economy, a country's economic health depends if businesses are doing well
True False

true/false...monopolies limit choice, but oligopolies promote choice
True False

true/false...contracts are only valid when written
True False

true/false... trading goods and services allow countries to meet their individual wants and needs as well as to help their own economy
True False

true/false... since 1970s, world trade has decreased due to nations becoming more self-sufficient
True False

true/false...If a country has a trade deficit with one country, it cannot have a trade surplus with another
True False

true/false... at the heart of most trade disputes is whether there should be limits on trade or whether trade should be unrestricted
True False

a symbol, name, or characteristic that identifies a product is a

A) slogan
B) motto
C) copyright
D) trademark

which of the following is not an example of a comparative advantage

A) Saudi drilling for oil
B) canada growing bananas
C) colombia growing coffee beans
D) us producing automobiles

free trade

A) colombia growing coffee beans
B) opens up new markets in other counrtries
C) us producing automobiles
D) trademark

intrastate commerce is overseen by

A) local governments
B) the fed
C) state governments
D) all of the above

length of copyright term is the life of the author and ____ years

the development of the global economy is often referred to as

A) globalization
B) opens up new markets in other counrtries
C) state governments
D) all of the above

the production, purchase, and sale of goods and services within a country is known as

A) globalization
B) doemestic trade
C) trademark
D) world trade

world trade has increased since the 1970s due to _______.

a finance institution that offers short-term loans to businesses and consumers at higher rates then banks is a _______.

the rate that the bank pays customers for keeping their money is called

the primary way banks generate profit is by ______.

which is an example of privatization

A) slogan
B) a concession stand at a state beach
C) a private high school
D) false

all of the following are transfer payments except

A) income tax refunds
B) unemployment pay
C) social security
D) veterans' benifit

governments allocate resources by

A) giving most of the funding to the military
B) opens up new markets in other counrtries
C) deciding how to spend tax revenues
D) better transportation and telecommunication

goods and services one country buys from another is ______. imports or exports?

the difference in value between a country's imports and exports over a period of time

the practice of the government putting limits on foreign trade to protect businesses at home

the act of a company controlling an industry or being the only one to offer a product or service

the act of a smaller number of companies controlling an industry

a temporary reduction or elimination of a tax that is meant to encourage or discourage an activity

grants given to producers or consumers to lower the cost they face

Financial institutions that offer the entire range of bank services, such as checking and savings accounts, loans, and financial advice

A system that allows money to be transferred from one bank account to another through a network of computers

Property or goods pledged by a borrower to use as security against a loan if it is not repaid