BUSN 115 Week 4 Midterm Exam

BUSN 115 Week 4Midterm Exam

Question 1.1. (TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services. (Points : 5)

        Business

        Goods

        Services

        Entrepreneur

        Revenue

Question 2.2. (TCO 1) That part of economics that studies the operations of a nation’s economy as a whole. (Points : 5)

        Economics

        Microeconomics

        Macroeconomics

        Resource development

        Invisible Hand

Question 3.3. (TCO 1) That part of economics that studies the behavior of people and organizations in particular markets. (Points : 5)

        Economics

        Microeconomics

        Macroeconomics

        Resource development

        Invisible Hand

Question 4.4. (TCO 2) An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends. (Points : 5)

        Insider trading

        Social audit

        Socially conscious investors

        Environmentalists

        Union officials

Question 5.5. (TCO 3) A complete ban on the import or export of a certain product; or the stopping of all trade with a country. (Points : 5)

        Tarriff

        Import/Exporting Ban

        Censoring

        Embargo

        None of the above

Question 6.6. (TCO 3) An unfavorable balance of trade occurs when the value of a country’s imports exceeds that of its exports. (Points : 5)

        Trade surplus

        Trade deficit

        Tariffs

        Strategic alliance

        Multinational corporation

Question 7.7. (TCO 4) Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership, with the objective of reselling the business at a proft.(Points : 5)

        Venture Capitalists

        Extrapreneurs

        Intrapreneurs

        Angel Investorts

        None of the above

1.         (TCO 1) Describe and explain capitalism and how it functions in a free market economy. (Points : 30)

2.         (TCO 2) Describe and explain corporate responsibility using an ethical perspective. Your stakeholder group for your answer is parents of high school students. Your company designs, produces, and sells video game apps for the mobile market. A concern has been raised in the community where your company is located about the violence portrayed in your mobile video game apps. What do you say to the parents? Why? (Points : 30)

3.         (TCO 3) Describe and explain the fundamentals of the international market. Why do nations trade and how trade measured. (Points : 30)

4.         (TCO 4) Outline the three ways an entrepreneur can start the business discussing the advantages and disadvantages of the three. (Points : 25)