Business 3

Card Set Information

Author:
Olivia.Woodruff
ID:
310881
Filename:
Business 3
Updated:
2015-11-03 22:54:03
Tags:
Business
Folders:
Intro to Business
Description:
test3
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  1. true/false... Bartering is a preferred method of exchange, because you immediately have an item that you want
    false
  2. true/false...the primary way banks generate profits is by repossessing cars and foreclosing on homes
    false
  3. true/false...in a market economy, a country's economic health depends if businesses are doing well
    true
  4. true/false...monopolies limit choice, but oligopolies promote choice
    false
  5. true/false...contracts are only valid when written
    false
  6. true/false... trading goods and services allow countries to meet their individual wants and needs as well as to help their own economy
    true
  7. true/false... since 1970s, world trade has decreased due to nations becoming more self-sufficient
    false
  8. true/false...If a country has a trade deficit with one country, it cannot have a trade surplus with another
    false
  9. true/false... at the heart of most trade disputes is whether there should be limits on trade or whether trade should be unrestricted
    true
  10. a symbol, name, or characteristic that identifies a product is a

    A) slogan
    B) motto
    C) trademark
    D) copyright
    C) trademark
    (this multiple choice question has been scrambled)
  11. which of the following is not an example of a comparative advantage

    A) us producing automobiles
    B) canada growing bananas
    C) colombia growing coffee beans
    D) Saudi drilling for oil
    B) canada growing bananas
    (this multiple choice question has been scrambled)
  12. free trade

    A) opens up new markets in other counrtries
    B) us producing automobiles
    C) trademark
    D) colombia growing coffee beans
    A) opens up new markets in other counrtries
    (this multiple choice question has been scrambled)
  13. intrastate commerce is overseen by

    A) local governments
    B) the fed
    C) state governments
    D) all of the above
    C) state governments
    (this multiple choice question has been scrambled)
  14. length of copyright term is the life of the author and ____ years
    70
  15. 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
    A) globalization
    (this multiple choice question has been scrambled)
  16. the production, purchase, and sale of goods and services within a country is known as

    A) globalization
    B) world trade
    C) trademark
    D) doemestic trade
    D) doemestic trade
    (this multiple choice question has been scrambled)
  17. world trade has increased since the 1970s due to _______.
    better transportation and telecommunication
  18. a finance institution that offers short-term loans to businesses and consumers at higher rates then banks is a _______.
    finance company
  19. the rate that the bank pays customers for keeping their money is called
    intrest
  20. the primary way banks generate profit is by ______.
    lending money
  21. which is an example of privatization

    A) slogan
    B) a concession stand at a state beach
    C) false
    D) a private high school
    B) a concession stand at a state beach
    (this multiple choice question has been scrambled)
  22. all of the following are transfer payments except

    A) veterans' benifit
    B) social security
    C) unemployment pay
    D) income tax refunds
    D) income tax refunds
    (this multiple choice question has been scrambled)
  23. governments allocate resources by

    A) giving most of the funding to the military
    B) better transportation and telecommunication
    C) deciding how to spend tax revenues
    D) opens up new markets in other counrtries
    C) deciding how to spend tax revenues
    (this multiple choice question has been scrambled)
  24. goods and services one country buys from another is ______. imports or exports?
    imports
  25. the difference in value between a country's imports and exports over a period of time
    balance of trade
  26. the practice of the government putting limits on foreign trade to protect businesses at home
    protectionism
  27. the act of a company controlling an industry or being the only one to offer a product or service
    monopoly
  28. the act of a smaller number of companies controlling an industry
    oligopoly
  29. a temporary reduction or elimination of a tax that is meant to encourage or discourage an activity
    tax incentive
  30. grants given to producers or consumers to lower the cost they face
    subsidies
  31. Financial institutions that offer the entire range of bank services, such as checking and savings accounts, loans, and financial advice
    commercial banks
  32. A system that allows money to be transferred from one bank account to another through a network of computers
    electronic funds transfer
  33. Property or goods pledged by a borrower to use as security against a loan if it is not repaid
    collateral

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