What are the stages of the business cycle?

a

b

c

d

Peak

Recovery

Recession

Trough

Reorder the following

• Equity

• Current Liabilities

• Fixed Assets

• Current Assets

• Long term liabilities

A company has a gross profit of $3 million, sales of $5 million, and expenses of $1 million. What is the net profit?

Mathematical Equivalence

ON

Which of the following is not a source of secondary research?

• Government publications

• Observations

• Reference books

• Newspaper articles

One reason why a person starts a business is due to the flexibility and independence, this is also known as:

• Anonymous

• Absolute

• Autonomy

• Anarchy

What term means that if a business fails, the owner is responsible for paying back all debt, even if that means paying with their personal funds/assets?

• Limited Liability

• Unlimited Liability

• Incorporation

• Lack of continuity

What advantages do members of a Cooperative receive?

• Cooperatives do not have members

• Members receive no advantages

• Members typically receive discounts if they take on part responsibility

• Members receive shares of stock of the Cooperative at a lower price than the public

What is purpose of micro-financiers?

• To make a profit

• To help CEOs expand their corporation

• To help those who would not otherwise obtain financing, receiving funding through small loans

• None of the above

The following are all likely to improve productivity except which one?

• Increased automation
• Increased training
• Improved staff motivation
• Increased staff meetings

Which of these is a common measure of labour productivity?

• Output scrap rate
• Profit margin
• Quality assurance level
• Output per worker per day