BUS 101 Part 1
Presentation
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Business
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University
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Practice Problem
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Medium
Whitney Marcengill
Used 3+ times
FREE Resource
33 Slides • 21 Questions
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Multiple Choice
Which of the following is NOT typically considered a main participant in a business?
Customers
Suppliers
Entrepreneurs
Meteorologists
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Open Ended
Why is it important to study business in today's world?
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Multiple Choice
Which of the following is the main goal of a business?
To provide only tangible products
To satisfy only the needs of organizations
To earn a profit
To focus only on intangible characteristics
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Multiple Choice
Which of the following economic systems involves individuals owning and operating the majority of businesses?
Communism
Socialism
Capitalism
Mixed Economy
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Fill in the Blanks
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Open Ended
Describe two major changes that occurred during the Industrial Revolution in the American economy.
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Multiple Choice
Which of the following is NOT a benefit of artificial intelligence (AI) in the economy as described in the slide?
It can provide greater productivity and higher quality service.
It can be biased.
It can only create jobs, not disrupt them.
It will both disrupt and create many jobs.
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Open Ended
Explain how the concepts of supply, demand, and equilibrium price interact to determine the price of a product in the market.
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19
Fill in the Blanks
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Open Ended
Discuss the difference between business ethics and social responsibility, and provide an example of each from a real or hypothetical business situation.
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Multiple Choice
Which of the following is considered an ethical issue in business?
Bribes
Innovation
Teamwork
Profit sharing
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Open Ended
Explain how the influence of managers and co-workers can impact ethical behavior in a business setting.
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Multiple Select
Which of the following are types of corporate social responsibility (CSR)?
Environmental
Legal
Philanthropic
Economic
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Open Ended
Summarize two basic strategies used in international business.
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Fill in the Blanks
Type answer...
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Multiple Select
Which of the following are economic barriers to international trade?
Infrastructure
Exchange rate
Cultural differences
Industrialized nations
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Multiple Choice
Which of the following is an example of an ethical, legal, or political barrier to international trade?
Differences in spoken and written language
Laws and regulations that differ by country
Family roles differing in societies
Use of the metric system
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Open Ended
Explain how social and cultural barriers can impact international trade.
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Multiple Select
Which of the following statements about the General Agreement on Tariffs and Trade (GATT) and the World Trade Organization (WTO) are correct?
GATT was signed by 23 nations in 1947.
WTO was created in 1995 by the Uruguay Round.
WTO is based in New York, USA.
GATT provided a forum for tariff negotiations.
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Open Ended
Describe two major changes introduced by the USMCA compared to NAFTA.
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Multiple Choice
Which of the following is NOT a characteristic of the European Union (EU)?
Promotes trade among members
Supports standardization
Based in Asia
Has strict laws concerning antitrust and data privacy
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