PHS BMF Semester Exam Review Question Preview (ID: 34231)
Semester Exam Review.
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Goods and service one country buys from another country
a) Imports
b) Exports
c) Tariff
d) Embargo
Goods and services one country sells to another country
a) Import
b) Export
c) Tariff
d) Embargo
A tax placed on imported products to make them more expensive than domestic products
a) Import
b) Export
c) Tariff
d) Embargo
A ban on the import or export of a product
a) Import
b) Export
c) Tariff
d) Embargo
A contractual agreement to use the name and sell the goods or services of an existing company
a) Partnership
b) Sole Proprietorship
c) Franchise
d)
Franchise
a) Partnership
b) Sole Proprietorship
c) Franchise
d)
a business owned by only one person
a) Partnership
b) Sole Proprietorship
c) Franchise
d)
Guidelines used in making consistent decisions
a) Mission Statement
b) Policies
c) Organizational Chart
d)
A diagram that shows the structure of an organization
a) Mission Statement
b) Policies
c) Organizational Chart
d)
A short, specific written statement of the reason a business exists and what it wants to achieve
a) Mission Statement
b) Policies
c) Organizational Chart
d)
Plans income and expenses from the beginning of a new business or a major business expansion until it becomes profitable
a) Income
b) Expenses
c) Start Up Budget
d)
Costs of operating a business
a) Income
b) Expenses
c) Start Up Budget
d)
Money that an individual or business receives in exchange for providing a good or service
a) Income
b) Expenses
c) Start Up Budget
d)
The rise and fall of economic activity over time
a) Business Cycle
b) Sweatshops
c) Code of Ethics
d)
A strict set of guideline in a profession or company for upholding ethical behavior in the workplace
a) Business Cycle
b) Sweatshop
c) Code of Ethics
d)
Factories that pay poorly, have unsafe working conditions, and treat workers badly
a) Business Cycle
b) Sweatshop
c) Code of Ethics
d)
The obligation to do what is best for the welfare of society
a) Social Responsibility
b) FDA
c) EPA
d)
A federal law that enforces rules to protect the environment and control pollution
a) Social Responsibility
b) FDA
c) EPA
d)
A government agency that protects consumers from dangerous or falsely advertised products
a) Social Responsibility
b) FDA
c) EPA
d)
The accepted behaviors, customs, and values of a society or a system of learned, shared, unifying, and interrelated beliefs, values, and assumptions
a) Culture
b) Domestic Business
c) International Business
d)
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