Term
The Federal Reserve System serves member banks by accepting their deposits, lending individuals money, clearing checks and providing other services.
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Definition
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Term
| All banks belong to the Federal Reserve System. |
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Definition
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Term
| Outstanding checks are those written for over $100. |
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Definition
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Term
The first step in marketing research is to develop
a data collection procedure.
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Definition
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Term
When consumers increase their borrowing, interest rates
tend to decline. |
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Definition
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Term
The NC Ports Authority located
in Wilmington is an example of a
free-trade zone.
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Definition
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Term
| Some goods would cost more and possibly be unavailable is a disadvantage for widely importing goods. |
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Definition
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Term
| The Cuban cigar is an example of a good that is being embargoed. |
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Definition
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Term
Global or multinational companies operate in several countries.
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Definition
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Term
| An advantage of a sole proprietorship is that you have limited capital. |
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Definition
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Term
| A shareholder has one vote per share. |
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Definition
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Term
| An informal trade barrier is created by government actions. |
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Definition
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Term
| Jack is skeptical about allowing other people to keep his money. He will use a local check-cashing outlet to cash his checks and file his income tax. This is an example of which type of financial institution? |
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Definition
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Term
| RBC Centura Bank invests over $1 million dollars for Todd. Which type of services of financial institutions is being provided? |
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Definition
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Term
| Micky’s Appliance Store accepts checks that banks draw on its own funds. This is an example of which type of payment services? |
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Definition
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Term
Tami projected from where funds would come to operate her business until a profit is
made. This is an example of what kind
of financial planning? |
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Definition
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Term
BP Gas Station offers a combo meal for $3.29
at its locations within five miles of fast food restaurants. Which step of the marketing strategy have they performed?
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Definition
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Term
| Linda searched the Internet for reviews on a new cosmetic product. This is an example of which type of consumer information source? |
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Definition
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Term
| Joe wanted specific advice on a new bike, so he visited a local bike shop. This is an example of which type of store? |
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Definition
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Term
| The financial institution most likely to charge the highest rate for a loan would be a: |
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Definition
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Term
If deposit insurance is most important to you when selecting a financial institution, you are most concerned with:
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Definition
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Term
| What type of checking account usually requires the highest balance to be kept on deposit? |
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Definition
| an interest-earning account |
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Term
| The first document that must be completed when opening a checking account is the: |
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Definition
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Term
A personal check with
guaranteed payment is a |
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Definition
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Term
| A fee that a bank charges for handling a checking account is: |
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Definition
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Term
| All of the following are elements of a check EXCEPT: |
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Definition
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Term
| Mary, a marketing research manager, is fortunate to have secured an advertising budget of $30,000. This is an example of which marketing function? |
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Definition
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Term
| Which is an EXAMPLE of personalized promotion? |
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Definition
| Mary test drove several SUV’s at the Infiniti dealership. |
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Term
| The two steps in a marketing strategy are: |
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Definition
| Identifying a target market and developing a marketing mix. |
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Term
| Which of the following is an example of a rational buying motive? |
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Definition
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Term
| When businesses specialize in producing a specific type of product, a channel of distribution will be needed to adjust differences in |
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Definition
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Term
| Depression is BEST defined as: |
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Definition
| A phase in the business cycle that is marked by an extended period of high unemployment, a decline in the sales of goods and services, and business failures. |
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Term
| The business cycle is BEST defined as: |
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Definition
| Movement of an economy from one condition to another. |
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Term
| A phase in the business cycle that is marked by an extended period of high unemployment, a decline in the sales of goods and services, and business failures is called: |
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Definition
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Term
| Businesses that change natural materials [raw goods] into a more finished form for manufacturers to process further are called: |
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Definition
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Term
| Changes in the average prices of goods and services purchased by consumers over a period of time are shown in: |
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Definition
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Term
| Paper mills, oil refineries, steel mills and flour mills are examples of what type of business? |
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Definition
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Term
| A business that sells directly to the consumer is called a: |
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Definition
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Term
| Which is NOT an example of a processor? |
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Definition
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Term
Which is NOT an example of a processor? |
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Definition
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Term
| The initiative to combine natural, human and capital resources to produce goods or services is an example of what kind of resources? |
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Definition
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Term
| A person who purchases and uses goods and services is called a: |
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Definition
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Term
| The greatest proportion of consumer income is spent on: |
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Definition
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Term
| People who contribute physical and mental energy to the production process are called: |
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Definition
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Term
| An economy in which people do things the way they have always been done is called: |
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Definition
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Term
| Susan set a goal to make a 95 on her accounting exam. What kind of goal is this? |
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Definition
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Term
| Desirable beliefs and principles are called: |
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Definition
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Term
| Eddie’s Bakery makes cakes as well as other baked goods. Which economic question does this address? |
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Definition
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Term
| The state department collects monthly reports of total sales from all newspaper companies in North Carolina. This information would be useful for which measurement of economic activities? |
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Definition
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Term
| A report about the economy reveals a decreasing unemployment rate, consumer buying of goods and services is increasing significantly, and the GDP is rising. Which business cycle does this report cover? |
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Definition
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Term
| Which of the following would an economist most likely classify as a need? |
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Definition
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Term
| An example of a natural resource is: |
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Definition
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Term
| John has two hours before having to go to his part-time job. He is deciding between studying for a math exam and taking a nap. If John chooses to take a nap, the opportunity cost of his decision is |
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Definition
| the score he will earn on the math exam |
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Term
| Which of the following addresses the economic question of how to produce? |
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Definition
| requiring individuals to work in a particular career |
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Term
In which of the following economic systems is the government’s role most limited? |
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Definition
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Term
| The primary reason business owners make investments and take risks is to |
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Definition
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Term
| A system in which resources are owned and controlled by the government. |
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Definition
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Term
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Definition
| ownership in a company or other asset |
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Term
| Which of the following would most likely cause a budget surplus for government? |
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Definition
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Term
| Government spends more than it takes in is known as: |
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Definition
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Term
| An example of foreign currency would be: |
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Definition
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Term
| Having 4 major airports is an example of which comparative factor? |
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Definition
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Term
| A diverse and skilled workforce in the areas of financial services, information technology, and education is an example of which factor? |
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Definition
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Term
NC has several sports venues such as football, hockey, basketball and baseball teams, this is an example of which factor? |
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Definition
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Term
Company A produces 8 cars per worker per year.
Which of the companies listed below has an absolute advantage? |
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Definition
| Hyundai produces 15 cars per worker per year. |
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Term
Which country below has a
comparative advantage to Company A who produces 75 units of beef per worker per hour?
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Definition
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Term
All of the following are possible
advantages for importing goods EXCEPT: |
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Definition
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the goods imported from other countries might cost local jobs.
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Term
John who lives in the US traveled to
Russia and spent $2,400.
Barishnakovsky who lives in Russia travels to the US and spends $5,300.
Which is a true statement above the above scenario? |
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Definition
| balance of payment is favorable for the US |
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Term
If France received more money for its goods and
services than it paid out, this is an example of which
f actor that influences international currency exchange? |
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Definition
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Term
Iran raised the prices of imported oil in
order to increase the trade of their own
oil in their nation. This is an example of
which international trade barrier?
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Definition
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Term
An organization provides Thailand funds
to rebuild its transportation network. .
This action is an example of which
international trade organization?
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Definition
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Term
| All of the following are the main international trade organizations EXCEPT: |
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Definition
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Term
All of the following are the main entry
modes for businesses to enter the
global marketplace EXCEPT:
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Definition
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Term
| Joan made sure all employees were careful while they were filling the new display case. This is an example of which function of management? |
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Definition
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Term
| Becky solicited input from Pat, who is one of her employees, about components for a new marketing campaign. This is an example of which style of management? |
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Definition
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Term
George stated precisely the content
required for the upcoming marketing
campaign to his employees.
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Definition
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Term
Donna processes at least 30 applications
a day that are faxed, mailed, or emailed. Which
human resources manager activity does she perform?
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Definition
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Term
The John A. Roebling Sons Co. produced the
cable specifically for the Golden Gate Bridge
located in San Francisco. Which type of
manufacturing procedure was performed?
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Definition
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Term
Which is an EXAMPLE of product development?
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Definition
studying new designs for an
interior of an automobile |
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Term
John purchased twenty new bar stools
for his restaurant. This is an example
of which type of business operation? |
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Definition
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Term
| The manager of Bennie’s Community Store buys products that will be sold to local customers from an online distribution company. This is an example of what type of technology application? |
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Definition
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Term
| Donna processed reports on her computer that will allow her to determine which employees make the top salaries. This is an example of what type of technology application? |
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Definition
| management information system |
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Term
Amy had her computer station adjusted so that
she would be comfortable while completing
challenging tasks for long periods of time. This is an
example of what type of concern for using technology? |
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Definition
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Term
An investment company offers yoga and other
similar activities at its work site during lunch. Which
social responsiblity is this company addressing?
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Definition
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Term
| Which is an example of practicing business ethics? Auto Mart Inc. |
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Definition
| provided a remedy for protected parts |
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Term
| Marie agreed to buy 10 dresses from a local warehouse. The warehouse owner only delivered nine dresses, but insisted that Marie pay for 10. Which protection does Marie need? |
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Definition
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Term
| McCracken Heating Oil Company makes sure that it remains within regulated price range for its product. Which government regulation is being addressed? |
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Definition
| promotion of fair competition |
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Term
The state department collects monthly reports of
total sales from all newspaper companies in
North Carolina. This
information would be useful for which
measurement of economic activities?
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Definition
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Term
Iran raised the prices of imported oil in order to
increase the trade of their own oil in their nation. This is
an example of which international trade barrier?
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Definition
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Term
| Many countries have obtained the rights to sell music and collectibles of entertainers. This is an example of which global marketplace main entry mode? |
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Definition
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Term
| A company sold 500 shares of stock and still relies on a central body of people for financial directions. This is an example of what type of business? |
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Definition
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Term
| Joe invested $500,000 into his sole proprietorship. He lost a $1 million lawsuit and does not have any liability insurance. As a result of the lawsuit, how much will he have to pay? |
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Definition
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Term
| Wendy is free of obligation of a role in her business and is an unknown partner, but she collects some of the profits each month. This is an example of what type of partner? |
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Definition
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Term
Mary works alone in her catering business and
enjoys scheduling her daily routine. She is
experiencing which advantage of a sole
proprietorship over a corporation?
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Definition
| owner control of decisions |
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Term
International Trade Organizations assist multinational
companies with global trading. The areas of
assistance provided are in regulation,
economics, and finance. The main organizations are:
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Definition
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Term
| In the scenario above, the $10,000 from her grandmother is |
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Definition
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Term
| Which of the following would not be included in GDP? |
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Definition
| dinner prepartation for your family |
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Term
| Productivity would likely increase as a result of: |
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Definition
| expanded production technnology |
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Term
| Which of the following would be an example of international business? |
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Definition
| a sales staff in South Carolina representing a foreign producer. |
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Term
When a country’s imports exceed its exports, this is a trade
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Definition
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