1. Survey

2. Question

3. Read

4. Recite

5. Review

The general well being of a society in terms of:

1. political freedom

2.natural environment

3.education

4.health care

5. safety

6. amount of leisure

7.and rewards that add to the satisfaction and joy that other goods and services provide

1. Political freedom

2. Natural Environment

3. Education

4. Health Care

5. Safety

6. Amount of rewards that add to the satisfaction and joy that other goods and services provide

Which is the most accurate statement about the impact of business on society?

A. When businesses earn a profit for their owners, it usually is at the expense of the rest of society

B. Businesses may improve quality of life but do little to improve standard of living within a society

C. Businesses often improve quality of life, but do little to improve quality of life of most people due to inflation.

D.Businesses can have a positive impact on both the standard of living and the quality of life within a society.

Which of the following most describes a belief expressed by Adam Smith?

A. Incentives to seek personal gain would create wealth

B. The government must then step in to make sure that

    this wealth is equitably distributed

C. Government should limit the property rights of the

    individual

D. Revenue and costs should be equal

When spending a vacation in Europe, Jim found that his U.S. dollar did not last as long as he had been told--each time he exchanged his U.S. Dollars for Euros, he had to give up more U.S. Dollars for  Euros. The most likely explination is that:

When a company shifts focus from original business design of emphasizing employee training and customer oriented service to new products and emphases on coupons that is an example of a company:

A. abandoning its traditional and foundational values

B. Increasing Profit

C. Lowering Costs

One reason that the Consumer Price Index (CPI) is monitored very closely by government, businesses, and workers is that:

In order to experiment in new markets without incurring large start up costs involved with building production facilities where labor is cheap and production sites are owned by other companies, the sensible strategy to take is to use:

the practice of lowering the value of a nation's currency relative to other currencies is called:

Which is true about a Limited Liability Partnership (LLP):

A. It protects the partners from any suit by the client

B. It guarantees that none of the partners will lose more than the amount they invested into the company

C. It guarantees that only those partners who were directly involved in the actual work or service are the ones facing unlimited liability for claims against the firm

D. It will enable the firm to quickly reorganize with only minor financial losses.

Special problems for U.S. firms attempting to enter global markets, such as insufficient electrical power and transportation systems, are

Creating competition without ground rules between employees within a corporation:

a. Can encourage employees to deceive other emplyees and customers

b. Should focus on improving corporate profit

c. must be ignored when corporate eithics are developed

d. can bring out the best in employees

Which are the true risks of a General Partnership?

A. The Partners can lose their personal assets

B. The partners can lose only the funds they originally invested into the company

C. The partners can lose only the total value of the assets actually used to operate the business

D. The Partners legally avoid any liability for the company's debts since it is considered a business entity that is separate and distinct from the partners that own it.

The __________ act, also known as the whistle-blower act, protects persons from retaliation who report an employer's illegal or unethical behavior to the proper government official.

The Capitalist system relies heavily on these fundamental traits in government, business owners, and customers. When these are not present, it weakens the entire system:

Honesty, integrity, and high ethical standards

Freedom

Responsibility

Authority

Training

Equipment

(or F.R.A.T.E.)

Followers of this economist subscribe to the belief that there are too many people in the world and that the solution to poverty is radical birth control, including forced abortions and sterilization

An economic system in which all or most of the factors of production and distribution are privately owned and operated for profit

1. Right to own private property

2. The right to own a business and keep all that business' profits

3. The right to freedom of competition

4. The right to freedom of choice.

an economic system based on the premise that some or most basic businesses should be owned by the government so that the profits can be more evenly distributed among the people

an economic and political system in which the government makes almost all economic decisions and own all the major factors of production is

economic boom

recession

depression

recovery

A theory that states that a country should sell to other countries those products that it produces most effectively and efficiently and buy from other countries those products that it cannot produce as effectively or efficiently

The international organization that replaced the General Agreement on Tariffs and Trade and was assigned the duty to mediate trade disputes among nations

safety

being informed

choice

being heard