BUS 110 Midterm Review –
Vocabulary Questions with
Accurate Answers
absolute advantage correct answer 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
acquisition correct answer the purchase of one company by another, usually by
buying its stock
administrative managers correct answer those who manage an entire business or
a major segment of a business; they are not specialists but coordinate the
activities of specialized managers
affirmative action programs correct answer legally mandated plans that try to
increase job opportunities for minority groups by analyzing the current pool of
workers, identifying areas where women and minorities are underrepresented,
and establishing specific hiring and promotion goals, with target dates, for
addressing the discrepancy
agenda correct answer a calendar, containing both specific and vague items, that
covers short-term goals and long-term objectives
analytical skill correct answer the ability to identify a concept or problem, to
isolate its component parts, to organize information for decision making, to
establish criteria for evaluation, and to draw appropriate conclusions
,arbitration correct answer settling a dispute by agreeing to accept the decision of
an impartial outsider
articles of partnership correct answer legal documents that set forth the basic
agreement between partners
artificial intelligence (AI) correct answer relates to machine learning that is able to
perform certain activities and tasks that usually require human intelligence
Asia-Pacific Economic Cooperation (APEC) correct answer an international trade
alliance that promotes open trade and economic and technical cooperation
among member nations
Association of Southeast Asian Nations (ASEAN) correct answer a trade alliance
that promotes trade and economic integration among member nations in
Southeast Asia
balance of payments correct answer the difference between the flow of money
into and out of a country
balance of trade correct answer the difference between a country's total exports
and total imports
benefits correct answer nonfinancial forms of compensation provided to
employees, such as pension plans, health insurance, paid vacation and holidays,
and the like
, Big Data correct answer refers to large volumes of structured and unstructured
data that are transmitted at very fast speeds
blockchain correct answer A decentralized, distributed and public digital ledger
that is used to record transactions across many computers so that the record
cannot be altered without agreement of all network participants. Useful to
provide system visibility and to prevent distortion of data.
board of directors correct answer A group of people elected by the stockholders
of a corporation to set the policies and long-range objectives for the corporation.
Bonuses correct answer monetary rewards offered by companies for exceptional
performance as incentives to further increase productivity
boycott correct answer an attempt to keep people from purchasing the products
of a company
Brainstorming correct answer technique used to help groups generate multiple
ideas and alternatives for solving problems
bribes correct answer payments, gifts, or special favors intended to influence the
outcome of a decision
budget deficit correct answer the condition in which a nation spends more than it
takes from taxes
business correct answer individuals or organizations who try to earn a profit by
providing products that satisfy people's needs
Vocabulary Questions with
Accurate Answers
absolute advantage correct answer 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
acquisition correct answer the purchase of one company by another, usually by
buying its stock
administrative managers correct answer those who manage an entire business or
a major segment of a business; they are not specialists but coordinate the
activities of specialized managers
affirmative action programs correct answer legally mandated plans that try to
increase job opportunities for minority groups by analyzing the current pool of
workers, identifying areas where women and minorities are underrepresented,
and establishing specific hiring and promotion goals, with target dates, for
addressing the discrepancy
agenda correct answer a calendar, containing both specific and vague items, that
covers short-term goals and long-term objectives
analytical skill correct answer the ability to identify a concept or problem, to
isolate its component parts, to organize information for decision making, to
establish criteria for evaluation, and to draw appropriate conclusions
,arbitration correct answer settling a dispute by agreeing to accept the decision of
an impartial outsider
articles of partnership correct answer legal documents that set forth the basic
agreement between partners
artificial intelligence (AI) correct answer relates to machine learning that is able to
perform certain activities and tasks that usually require human intelligence
Asia-Pacific Economic Cooperation (APEC) correct answer an international trade
alliance that promotes open trade and economic and technical cooperation
among member nations
Association of Southeast Asian Nations (ASEAN) correct answer a trade alliance
that promotes trade and economic integration among member nations in
Southeast Asia
balance of payments correct answer the difference between the flow of money
into and out of a country
balance of trade correct answer the difference between a country's total exports
and total imports
benefits correct answer nonfinancial forms of compensation provided to
employees, such as pension plans, health insurance, paid vacation and holidays,
and the like
, Big Data correct answer refers to large volumes of structured and unstructured
data that are transmitted at very fast speeds
blockchain correct answer A decentralized, distributed and public digital ledger
that is used to record transactions across many computers so that the record
cannot be altered without agreement of all network participants. Useful to
provide system visibility and to prevent distortion of data.
board of directors correct answer A group of people elected by the stockholders
of a corporation to set the policies and long-range objectives for the corporation.
Bonuses correct answer monetary rewards offered by companies for exceptional
performance as incentives to further increase productivity
boycott correct answer an attempt to keep people from purchasing the products
of a company
Brainstorming correct answer technique used to help groups generate multiple
ideas and alternatives for solving problems
bribes correct answer payments, gifts, or special favors intended to influence the
outcome of a decision
budget deficit correct answer the condition in which a nation spends more than it
takes from taxes
business correct answer individuals or organizations who try to earn a profit by
providing products that satisfy people's needs
