Business 101 Finale

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  1. ______ Study how people use resources to produce and distribute goods and services for consumption among competing groups and individuals.
  2. Brain drain is
  3. The reason why many socialist countries have experience brain drain is
    workers tend to have to work longer hours and recieve fewer benefits under socialism.
  4. This typer of government believes that the government should always stirve to balance its budget, while socialism accepts deficit spending as the price of achieving true equality.
  5. Today, the economic systems of most nations could most accurately be classified as:
    A. Pure socialism
    B. Command economies
    C. Pure capitalism
    D. Mixed econimies
    D. Mixed economies.
    (this multiple choice question has been scrambled)
  6. The position a firm takes on issues that affect the corporation as well as society is known as its:
    A. Target posturing
    B. Structural Positioning
    C. Corporate policy
    D. Political philanthropy
    C. Corporate Policy
    (this multiple choice question has been scrambled)
  7. Corporate___ encompasses various issues such as setting minority hiring practices, manufacturing safe products, and minimizing pollution.
    A. Philanthropy
    B. Responsibility
    C. Structure and strategy
    D. Diverstiy
    B. Responsibility
    (this multiple choice question has been scrambled)
  8. Debts owned by a business:
    A. Revenues
    B. Assets
    C. Liabilities
    D. Equities
    A. Liabilities
    (this multiple choice question has been scrambled)
  9. The three key financial statements of a business are the:
    • A. Balance sheet
    • B. Income statement
    • C. Statement of Cash Flows
  10. A firm's ____ reports the profit/ loss for the firm over a specified time period.
    A. Statement of Cash Flow
    B. Balance Sheet
    C. Bank Statement
    D. Income Statement
    D. Income statement
    (this multiple choice question has been scrambled)
  11. The World Bank provides funding for:
    A. Less developed nations
    B. Firms who want to participate in trade.
    C. Multinational corporations
    D. The developed nations
    A. Less Developed nations
    (this multiple choice question has been scrambled)
  12. The ____ definition of money supply only includes money that is quickly and easily accessed.
    A. M-2
    B. M-1
    C. e-cash
    D. M-3
    B. M-1
    (this multiple choice question has been scrambled)
  13. Which of the following is included in the M-2 definistion of the money supply?
    A. Currency
    B.Traverlers checks
    C. Checking
    D. Savings
    D. Savings
    (this multiple choice question has been scrambled)
  14. Unlimited Liability Means:
    When you own your own business, you are responsible for all the business debts.
  15. A partner who invests money in a business, but does not take an active role in management or assume unlimited liability for the firm's losses is known as a(an):
    A. Corporate partner
    B. Partial Partner
    C. Limited Partner
    D. Implied Partner
    C. Limited Partner
    (this multiple choice question has been scrambled)
  16. Comparted to sole proprietorship, which of the following is considered an advantage of a general partnership?
    A. ability to pool financial resource
    B. Ease and flexibility in transferring shares of ownership to others
    C. Limited liability for all owners
    D. Equal division of profits amonth the owners.
    A. Ability to pool financial resources.
    (this multiple choice question has been scrambled)
Card Set
Business 101 Finale
Business 101 Finale
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