Business management 1 (NEW)

The resources that contribute to the creation of wealth are known as ________. 

• production coefficients

• factors of production

• production technologies

• production aggregates

The _____________ is the total value of a nation's exports compared to its imports measured over a specific period of time. 

• balance of payments

• balance of trade surplus

• balance of trade deficit

• balance of trade

A(n) ________-based ethics code emphasizes the prevention of unlawful behavior by increasing control and penalizing wrongdoers. 

• legal

• corporate responsibility

• compliance

• integrity

Which of the following is a basic right under capitalism? 

• Freedom of collusion.

• Freedom from taxation.

• The right to vote.

• The right to compete.

We describe charitable donations by corporations to nonprofit organizations as __________. 

• corporate philanthropy

• corporate responsibility

• corporate strategy

• structural commitment

A nation has a ___________ in the production of a good or service if it can produce that good or service more effectively or efficiently than it can produce other goods. 

• supreme advantage

• primary efficiency

• qualified advantage

• comparative advantage

A business incurs a ___________ if its costs and expenses exceed its revenues. 

• loss

• liability

• debit

• dividend

Both socialism and communism are variations of: 

• command economies

• competitive economies

• free-market economies

• plutocratic systems

________ refers to standards of moral behavior

• Legality

• Responsibility

• Integrity

• Ethics

A(n) ____________ is a person who assumes the risk of starting a business

• manager

• entrepreneur

• private investor

• stakeholder