Transcript Bluff

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An example of this type of
encouragement of free trade
would be the NAFTA
Free trade agreement
A cosmetic company purchased an
automatic wrapping machine that wraps a
pallet of boxes in 30 seconds. To
complete the same task manually, it
would take an employee almost 3
minutes. This information would be
useful for which measurement of
economic activities?
Labor activities
United States has become globally
known for its production of wheat
more resourcefully. It can produce
the product with less human
resources. This is an example of
what type of ADVANTAGE?
Comparative
A report covering several quarters about
the economy includes that more
companies are experiencing record high
production and adding new employees.
Also, wages and the rate of GDP are
increasing significantly. Which phase of
the business cycle does this report
describe?
Prosperity
Syria is banned from selling
products within other
countries. This is an
example of which
international trade barrier?
Embargos
Companies located in the Research
Triangle Park reported that they
have hired many graduates who
have earned technology degrees
from the local community college.
Which resource will the graduates
provide for the companies?
Human
When is balance of payments
favorable?
When a country recieves more
money than it pays out
Due to decreasing enrollment in a
local school system, fewer
teachers as employees are needed.
As a result, over 100 teachers were
released from their commitments.
This information would be useful
for which measurement of
economic activities?
Labor activities
Mary is proud of saving over
$43,000 in a local bank. She knows
that her saving money at the bank
will provide funds for others to
borrow money. This information
would be useful for which
measurement of economic
activities?
Investment activities
India's terrain allows for its major
production of rice, cotton, and
wheat. Which main factor of the
international business environment
is this information about India
classified?
Geography
Kenya's Prime Minister is
negotiating with other Ministers to
sell products and services
throughout the Eastern region. This
is an example of which
encouragement of international
trade?
Common markets
A convenience store gave the
rights to a company in Mexico to
sell its products and services. This
is an example of which global
marketplace main entry mode?
Franchising
An organization assisted two
countries on settling a trade
disagreement on tariffs. This action
is an example of assistance
provided by which international
trade organization?
WTO
Aruba has become globally known
for its white sandy beaches. It is
relied upon by many travelers from
other countries to enjoy its
beaches for a reasonable cost. This
is an example of what type of
ADVANTAGE?
Absolute
Cuba bans American
products to be sold within
its country. This is an
example of which
international trade barrier?
Embargo
Alaska produces more
salmon by the pound than
any other state that exports
salmon. This is an example
of what type of
ADVANTAGE?
Comparative
Due to the high volume of
travelers visiting the United
Kingdom, the country has
set up duty-free shops in
highly visited areas. This is
an example of which
encouragement of
international trade?
Free trade zones
Eddie decided he would use
real butter for his baked
goods. Which economic
question does this address?
How to produce?
A report covering four quarters
about the economy includes that
more companies are experiencing
less production and reducing the
number of employees. Which phase
of the business cycle does this
report describe?
Recession
If China has rising interest
rates and inflation occurring
across the country, this is
an example of which factor
that influences international
currency exchange?
Economic conditions
Goya Food Company survey
results revealed that their customer
base consists mostly of large
families instead of individuals
living alone. Which economic
question does this address?
For whom to produce?
While conducting business in
Japan, Shari adjusted her giftgiving practices to accommodate
her Japanese business-partners.
Which main factor of the
international business environment
did Shari consider?
Cultural influences
What is the profit formula?
Revenue-expenses
What is scarcity?
Not having enough of a resource
What is unemployment rate?
The number of individuals who are
willing and able to work
The value of the next best
alternative that you did not
choose.
Opportunity cost
In this type of economy, the
government makes all of the
economic decisions
Command
In this type of economy, the
people make the economic
decisions
Market
An example of this economic
system can be found in parts
of Africa; family centered.
Traditional
If a country is in a civil war and its
government changes apruptly,
that is an example of which factor
that influences currency
exchange?
Political stability
Laos has limited infrastructure that will
hinder international business to conduct
transaction in it. This country depends
heavily on the agricultural industry. Which
main factor of the international business
environment is this information about this
country classified?
Economic development
India limits the amount of
imported wheat products to
protect its own industry. This is
an example of which international
trade barrier?
Quotas
ABC Company examined several
options of additional benefits to
offer its employees. The
company has decided to offer
health care insurance. Which
part of the economic decision
making process has it
performed?
Choosing one choice
A local large department store
reports monthly to the state
commerce office its total sales of
goods and services. This
information would be useful for
which measurement of economic
activities?
Consumer spending
In a hypothetical economy, only
40 people were included and 15
pizzas were produced last year at
$17 dollars each. This
information would be useful for
which measurement of economic
activities?
GDP per capita
If an economist researches
annually the total value of homes
built, this information would be
useful for which measurement of
economic activities?
GDP
The government of the US allows
consumers to make decisions
about goods and services
consumed. Which main factor of
the international business
environment is this information
about this country classified?
Political and legal concerns