Business Quiz

What is the definition of Free trade

• Business like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

• An international economic and political movement designed to help goods and services flow more freely across international boundaries.

• Any tools-- especially computers, telecommunications, and other digital products-- that businesses can use to be more efficient and effective.

• The measurable characteristics of a population. Demographic factors include population size and density, as well as specific traits such as age, gender, and race.

What is the definition of General Agreement on Tariffs and Trade (GATT)

• Business transactions conducted online, typically via the internet.

• The rate at which a new product moves from conception to commercialization.

• An international economic and political movement designed to help goods and services flow more freely across international boundaries.

• An international trade agreement that has taken bold steps to lower tariffs and promote free trade world wide.

What is the definition of Factors of Production

• Four fundamental elements-- natural resources, capital, human resources, and entrepreneurship-- that businesses need to achieve their objectives.

• The periodic contraction and expansion that occur over time in virtually every economy.

• The service that allows computer users to easily access and share information on the internet on the internet in the form of text, graphics, video, apps, and animation

• Business like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

What is the definition of E-Commerce

• Any tools-- especially computers, telecommunications, and other digital products-- that businesses can use to be more efficient and effective.

• The setting in which business operates. The five key components are economic environment, competitive environment, technological environment, social environment, and global environment.

• Business transactions conducted online, typically via the internet.

• Business like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

What is the definition of Demographics

• The measurable characteristics of a population. Factors include population size and density, as well as specific traits such as age, gender, and race.

• Business like establishments that employ people and produce goods and services with the fundamental goal of contributing to the community rather than generating financial gain.

• The rate at which a new product moves from conception to commercialization.

• The service that allows computer users to easily access and share information on the internet on the internet in the form of text, graphics, video, apps, and animation

What is the definition of demand

• The quantity of products that consumers are willing to buy at different market prices

• The graphed relationship between price and quantity from a supplier standpoint

• The periodic contraction and expansion that occur over time in virtually every economy.

• A measure of inflation that evaluates the change over time in the weighted-average wholesale prices.

What is the definition of monetary policy

• The sum of all the money that the government has borrowed over the years and not yet repaid

• Federal Reserve decisions that shape the economy by influencing interest rates and the supply of money

• They study of a country's overall economic dynamics, such as the employment rate, the gross domestic product, and taxation policies

• The graphed relationship between price and quantity from a supplier standpoint

what is the definition of fiscal policy

• Government efforts to influence the economy through taxation and spending

• The sum of all the money that the government has borrowed over the years and not yet repaid

• The total value of all final goods and services produced within a nation's physical boundaries over a given period of time.

• A market structure with many competitors selling differentiated products. Barriers to entry are low.

What is the definition of Gross Domestic Product (GDP)

• The total value of all final goods and services produced within a nation's physical boundaries over a given period of time.

• A measure of inflation that evaluates the change over time in the weighted-average wholesale prices.

• The price associated with the point at which the quantity demanded of a product equals the quantity supplied

• The quantity of products that consumers are willing to buy at different market prices

What is the definition of Consumer Price Index (CPI)

• The graphed relationship between price and quantity from a supplier standpoint

• The periodic contraction and expansion that occur over time in virtually every economy.

• A measure of inflation that evaluates the change in the weighted-average price of goods and services that the average consumer buys each month.

• A measure of inflation that evaluates the change over time in the weighted-average wholesale prices.