BML Final Set 2 Question Preview (ID: 9448)


Final Exam Set 2. TEACHERS: click here for quick copy question ID numbers.

Which of these is not one of the three main types of economies?
a) command
b) capitalistic
c) traditional
d) agricultural

Which of these offers citizens the most individual freedom?
a) command economic system
b) capitalistic economic system
c) traditional economic system
d) mixed economic system

Which of these offers citizens the least economic freedom?
a) command economic system
b) capitalistic economic system
c) traditional economic system
d) mixed economic system

Which of these provides the least amount/ lowest quality of goods and services to its citizens?
a) command economic system
b) capitalistic economic system
c) traditional economic system
d) mixed economic system

Which of these is generally focused on agriculture and other survival industries?
a) command economic system
b) capitalistic economic system
c) traditional economic system
d) mixed economic system

Selling the right to use some intangible property for a fee or royalty is called
a) licensing
b) joint venture
c) free-trade agreement
d) franchising

Two or more businesses joining together for a special project or purpose is called
a) licensing
b) joint venture
c) free-trade agreement
d) franchising

Selling knowledge about effective processes and access to national or international advertising in exchange for a percentage of profits is called
a) licensing
b) joint venture
c) free-trade agreement
d) franchising

Which of these is NOT a question to ask when considering the ethics of a business decision?
a) Is the action legal?
b) Does the action violate professional standards?
c) Who is affected by the action?
d) Can I get away with this action?

The difference between the value of a country's total exports and total imports is called its
a) balance of payments.
b) balance of trade.
c) trade surplus.
d) trade deficit.

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