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BML Final Set 2
Test Description: Final Exam set 2
Instructions: Answer all questions to get your test result.
1) Which of these is not one of the three main types of economies?
A
agricultural
B
command
C
capitalistic
D
traditional
2) Which of these offers citizens the most individual freedom?
A
capitalistic economic system
B
command economic system
C
mixed economic system
D
traditional economic system
3) Which of these offers citizens the least economic freedom?
A
mixed economic system
B
command economic system
C
capitalistic economic system
D
traditional economic system
4) Which of these provides the least amount/ lowest quality of goods and services to its citizens?
A
traditional economic system
B
mixed economic system
C
command economic system
D
capitalistic economic system
5) Which of these is generally focused on agriculture and other survival industries?
A
capitalistic economic system
B
traditional economic system
C
command economic system
D
mixed economic system
6) Selling the right to use some intangible property for a fee or royalty is called
A
franchising
B
licensing
C
joint venture
D
free-trade agreement
7) Two or more businesses joining together for a special project or purpose is called
A
free-trade agreement
B
licensing
C
franchising
D
joint venture
8) Selling knowledge about effective processes and access to national or international advertising in exchange for a percentage of profits is called
A
licensing
B
franchising
C
joint venture
D
free-trade agreement
9) Which of these is NOT a question to ask when considering the ethics of a business decision?
A
Can I get away with this action?
B
Is the action legal?
C
Does the action violate professional standards?
D
Who is affected by the action?
10) The difference between the value of a country's total exports and total imports is called its
A
balance of payments.
B
trade surplus.
C
balance of trade.
D
trade deficit.
*select an answer for all questions
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