ACP Business chapters 1-10 test
1st of 3 fundamental economic questions - ANS-What goods and offerings, and what kind of of
every will satisfy customers' desires?
Second of three simple financial questions - ANS-How will goods and services be produced,
who will produce them, and with what resources will they be produced?
3rd of three fundamental financial questions - ANS-How are the goods and offerings to be
distributed to consumers?
Absolute benefit - ANS-A monopoly that exists whilst a rustic is the only supply of an object, the
handiest producer of an item, or the maximum green manufacturer of an item
Example: South Africa having manage of diamonds so can keep the expenses excessive for
satisfactory gemstones
Chapter 10 - ANS-Chapter 10
Chapter 2 - ANS-Chapter 2
Chapter three - ANS-Chapter three
Chapter four - ANS-Chapter 4
Chapter 5 - ANS-Chapter 5
Chapter 6 - ANS-Chapter 6
Chapter 7 - ANS-Chapter 7
Chapter 8 - ANS-Chapter 8
Chapter nine - ANS-Chapter 9
Comparative advantage - ANS-The basis of most global exchange, whilst a rustic specializes in
products that it is able to supply extra successfully or at a decrease cost than it can have other
gadgets
Many be in international locations like India and China in cheap labor
,Corporate citizenship - ANS-The quantity to which agencies meet the legal, moral, financial, and
voluntary obligations located on them via their stakeholders
This dedication shows a strategic process to attain this purpose
Define commercial enterprise ethics - ANS-Principles and requirements that determine suitable
behavior in commercial enterprise
Personal Ethics -character's values, concepts, and requirements of behavior
Determined with the aid of employer as well as stake holders (clients, competition, and
authorities guidelines)
Describe the transformation process, from inputs to outputs - ANS-Inputs: the resources- which
includes hard work, money, and material - which might be transformed into outputs
Outputs: the products, offerings, and ideas that result shape the conversion of inputs
dimensions of social duty 1 - ANS-Economic Responsibilities
Being profitable
dimensions of social duty 2 - ANS-Legal Responsibilities
Obeying the law (society's codification of proper and incorrect): gambling by the regulations of
the sport
dimensions of social responsibility 3 - ANS-Ethical Responsibilities
Being ethical: doing what is proper, simply, and fair; heading off damage
dimensions of social responsibility 4 - ANS-Voluntary Responsibilities
Being a "precise company citizen"; contributing to the community and excellent of lifestyles
diversity 1 - ANS-Primary characteristics: paintings heritage, income, marital repute, military,
religion, geographic location, parental status, and schooling
range 2 - ANS-Benefits of Diversity
More effective use of organization's resources
Reduced battle among personnel of different ethnicities, race, faith, and sex as they learn how
to respect each other
, More effective running courting among numerous agencies
Increased commitment to and sharing of dreams
Increased innovation and creativity
Increase ability to serve the need of diverse purchaser base
diversity 3 - ANS-Affirmative Action: legally mandated flora to try to boom process opportunities
for minority groups
END OF DAY 1 - ANS-End of day 1
Examples of moral problems - ANS-Example: Bribes with payments, gifts, or unique favors
Also, may be related to way of life --> in Japan gifts yes in USA gifts no
Misuse of Company Time
Abuse and Intimidating Behavior (some human beings accept yelling others do no longer)
False Advertising
Fairness and Honesty
Follow all laws and guidelines
Do now not harm clients, personnel, customers, or competition
In competition not bullying or bulldozing over different organizations to hold
Conflict of Interest
Most common; character ought to pick whether or not to increase his or her own non-public
pursuits or those of others
Misuse of Company Resources
Excessive quantity of time analyzing personal e-mails, tax evasion and charging the business
for matters
Forms of enterprise possession 1 - ANS-Sole Proprietorships
1st of 3 fundamental economic questions - ANS-What goods and offerings, and what kind of of
every will satisfy customers' desires?
Second of three simple financial questions - ANS-How will goods and services be produced,
who will produce them, and with what resources will they be produced?
3rd of three fundamental financial questions - ANS-How are the goods and offerings to be
distributed to consumers?
Absolute benefit - ANS-A monopoly that exists whilst a rustic is the only supply of an object, the
handiest producer of an item, or the maximum green manufacturer of an item
Example: South Africa having manage of diamonds so can keep the expenses excessive for
satisfactory gemstones
Chapter 10 - ANS-Chapter 10
Chapter 2 - ANS-Chapter 2
Chapter three - ANS-Chapter three
Chapter four - ANS-Chapter 4
Chapter 5 - ANS-Chapter 5
Chapter 6 - ANS-Chapter 6
Chapter 7 - ANS-Chapter 7
Chapter 8 - ANS-Chapter 8
Chapter nine - ANS-Chapter 9
Comparative advantage - ANS-The basis of most global exchange, whilst a rustic specializes in
products that it is able to supply extra successfully or at a decrease cost than it can have other
gadgets
Many be in international locations like India and China in cheap labor
,Corporate citizenship - ANS-The quantity to which agencies meet the legal, moral, financial, and
voluntary obligations located on them via their stakeholders
This dedication shows a strategic process to attain this purpose
Define commercial enterprise ethics - ANS-Principles and requirements that determine suitable
behavior in commercial enterprise
Personal Ethics -character's values, concepts, and requirements of behavior
Determined with the aid of employer as well as stake holders (clients, competition, and
authorities guidelines)
Describe the transformation process, from inputs to outputs - ANS-Inputs: the resources- which
includes hard work, money, and material - which might be transformed into outputs
Outputs: the products, offerings, and ideas that result shape the conversion of inputs
dimensions of social duty 1 - ANS-Economic Responsibilities
Being profitable
dimensions of social duty 2 - ANS-Legal Responsibilities
Obeying the law (society's codification of proper and incorrect): gambling by the regulations of
the sport
dimensions of social responsibility 3 - ANS-Ethical Responsibilities
Being ethical: doing what is proper, simply, and fair; heading off damage
dimensions of social responsibility 4 - ANS-Voluntary Responsibilities
Being a "precise company citizen"; contributing to the community and excellent of lifestyles
diversity 1 - ANS-Primary characteristics: paintings heritage, income, marital repute, military,
religion, geographic location, parental status, and schooling
range 2 - ANS-Benefits of Diversity
More effective use of organization's resources
Reduced battle among personnel of different ethnicities, race, faith, and sex as they learn how
to respect each other
, More effective running courting among numerous agencies
Increased commitment to and sharing of dreams
Increased innovation and creativity
Increase ability to serve the need of diverse purchaser base
diversity 3 - ANS-Affirmative Action: legally mandated flora to try to boom process opportunities
for minority groups
END OF DAY 1 - ANS-End of day 1
Examples of moral problems - ANS-Example: Bribes with payments, gifts, or unique favors
Also, may be related to way of life --> in Japan gifts yes in USA gifts no
Misuse of Company Time
Abuse and Intimidating Behavior (some human beings accept yelling others do no longer)
False Advertising
Fairness and Honesty
Follow all laws and guidelines
Do now not harm clients, personnel, customers, or competition
In competition not bullying or bulldozing over different organizations to hold
Conflict of Interest
Most common; character ought to pick whether or not to increase his or her own non-public
pursuits or those of others
Misuse of Company Resources
Excessive quantity of time analyzing personal e-mails, tax evasion and charging the business
for matters
Forms of enterprise possession 1 - ANS-Sole Proprietorships
