BUS 101 CENGAGE FINAL EXAM NEWEST
QUESTIONS WITH COMPLETE UPGRADED
ANSWERS.100%VERIFIED
- answer ✔✔-Risk V Return
an economy in which production, investment, prices, and incomes are determined centrally by a
government. - answer ✔✔-command economy
an economy that allocates resources through the decentralized decisions of many firms and households
as they interact in markets for goods and services - answer ✔✔-market economy
A measurement of the total goods and services produced within a country. - answer ✔✔-Gross
Domestic Product (GDP)
a period of temporary economic decline during which trade and industrial activity are reduced, generally
identified by a fall in GDP in two successive quarters. - answer ✔✔-Recession
an economic concept that states that the price of a good rises and falls depending on how many people
want it (demand) and depending on how much of the good is available (supply) - answer ✔✔-supply and
demand
- answer ✔✔-Consumer Price Index (CPI)
Land, labor, and capital; the three groups of resources that are used to make all goods and services -
answer ✔✔-factors of production
pure competition, monopolistic competition, oligopoly, monopoly - answer ✔✔-Types of Competition
, A market structure characterized by an extremely large number of sellers, none strong enough to
significantly influence price or supply - answer ✔✔-pure competition
A market structure in which barriers to entry are low and many firms compete by selling similar, but not
identical, products. - answer ✔✔-monopolistic competition
a state of limited competition, in which a market is shared by a small number of producers or sellers. -
answer ✔✔-Oligopoly
A market in which there are many buyers but only one seller. - answer ✔✔-Monopoly
All the people who stand to gain or lose by the policies and activities of a business and whose concerns
the business needs to address. - answer ✔✔-Stakeholders
A group of people that make up a corporation by sharing ownership in a certain company - answer ✔✔-
Stockholders
the principles of right and wrong that guide an individual in making decisions - answer ✔✔-Ethics
An organization's obligation to maximize its positive impact and minimize its negative impact on society
- answer ✔✔-Social Responsibility
An act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to
make senior managers more accountable and to improve and maintain investor confidence. - answer
✔✔-Sarbanes-Oxley Act
buying products from another country - answer ✔✔-Importing
selling products to another country - answer ✔✔-Exporting
A tax on imported goods - answer ✔✔-Tariff
QUESTIONS WITH COMPLETE UPGRADED
ANSWERS.100%VERIFIED
- answer ✔✔-Risk V Return
an economy in which production, investment, prices, and incomes are determined centrally by a
government. - answer ✔✔-command economy
an economy that allocates resources through the decentralized decisions of many firms and households
as they interact in markets for goods and services - answer ✔✔-market economy
A measurement of the total goods and services produced within a country. - answer ✔✔-Gross
Domestic Product (GDP)
a period of temporary economic decline during which trade and industrial activity are reduced, generally
identified by a fall in GDP in two successive quarters. - answer ✔✔-Recession
an economic concept that states that the price of a good rises and falls depending on how many people
want it (demand) and depending on how much of the good is available (supply) - answer ✔✔-supply and
demand
- answer ✔✔-Consumer Price Index (CPI)
Land, labor, and capital; the three groups of resources that are used to make all goods and services -
answer ✔✔-factors of production
pure competition, monopolistic competition, oligopoly, monopoly - answer ✔✔-Types of Competition
, A market structure characterized by an extremely large number of sellers, none strong enough to
significantly influence price or supply - answer ✔✔-pure competition
A market structure in which barriers to entry are low and many firms compete by selling similar, but not
identical, products. - answer ✔✔-monopolistic competition
a state of limited competition, in which a market is shared by a small number of producers or sellers. -
answer ✔✔-Oligopoly
A market in which there are many buyers but only one seller. - answer ✔✔-Monopoly
All the people who stand to gain or lose by the policies and activities of a business and whose concerns
the business needs to address. - answer ✔✔-Stakeholders
A group of people that make up a corporation by sharing ownership in a certain company - answer ✔✔-
Stockholders
the principles of right and wrong that guide an individual in making decisions - answer ✔✔-Ethics
An organization's obligation to maximize its positive impact and minimize its negative impact on society
- answer ✔✔-Social Responsibility
An act passed into law by Congress in 2002 to establish strict accounting and reporting rules in order to
make senior managers more accountable and to improve and maintain investor confidence. - answer
✔✔-Sarbanes-Oxley Act
buying products from another country - answer ✔✔-Importing
selling products to another country - answer ✔✔-Exporting
A tax on imported goods - answer ✔✔-Tariff
