NKU BUS 101 Hardik Patel questions with
verified answers
A product can be... Ans✓✓✓tangible, intangible (services) and ideas
Absolute Advantage Ans✓✓✓A monopoly that exists when a country
is the only source of an item, the only producer of an item, or the most
efficient producer of an item
Balance of trade Ans✓✓✓the difference in value between what a nation
exports and its imports
bribery Ans✓✓✓payments, gifts or special favors intended to influence
the outcome of a decision
bullying Ans✓✓✓abuse and intimidating behavior
business ethics Ans✓✓✓principles and standards that determine
acceptable conduct in business
business responsibility to their communities Ans✓✓✓donations
Capitalism Ans✓✓✓individuals own and operate all businesses
, code of ethics Ans✓✓✓formalized rules and standards that describe
what a company expects of its employess
Competition Ans✓✓✓the rivalry among businesses for consumers
dollars (pure, monopolistics, oligopoly and monoploy
Comunism Ans✓✓✓government owns and operates everything
conflict of interest Ans✓✓✓when a person must choose whether to
advance his own personal interests or those around others
consumer bill of rights Ans✓✓✓the right to saftey, to be informed, to
choose and to be heard
Deflation Ans✓✓✓rising unemployment stifles demand, forces prices
down
Demand Ans✓✓✓the number of products consumers are willing to buy
at different prices at a specific time
Dumping Ans✓✓✓the act of a country or business selling products at
less than what it costs to produce them
Economic Contraction Ans✓✓✓is a slow down of the economy
characterized by a decline in spending (recession)
verified answers
A product can be... Ans✓✓✓tangible, intangible (services) and ideas
Absolute Advantage Ans✓✓✓A monopoly that exists when a country
is the only source of an item, the only producer of an item, or the most
efficient producer of an item
Balance of trade Ans✓✓✓the difference in value between what a nation
exports and its imports
bribery Ans✓✓✓payments, gifts or special favors intended to influence
the outcome of a decision
bullying Ans✓✓✓abuse and intimidating behavior
business ethics Ans✓✓✓principles and standards that determine
acceptable conduct in business
business responsibility to their communities Ans✓✓✓donations
Capitalism Ans✓✓✓individuals own and operate all businesses
, code of ethics Ans✓✓✓formalized rules and standards that describe
what a company expects of its employess
Competition Ans✓✓✓the rivalry among businesses for consumers
dollars (pure, monopolistics, oligopoly and monoploy
Comunism Ans✓✓✓government owns and operates everything
conflict of interest Ans✓✓✓when a person must choose whether to
advance his own personal interests or those around others
consumer bill of rights Ans✓✓✓the right to saftey, to be informed, to
choose and to be heard
Deflation Ans✓✓✓rising unemployment stifles demand, forces prices
down
Demand Ans✓✓✓the number of products consumers are willing to buy
at different prices at a specific time
Dumping Ans✓✓✓the act of a country or business selling products at
less than what it costs to produce them
Economic Contraction Ans✓✓✓is a slow down of the economy
characterized by a decline in spending (recession)
