John, Sarah, and Emma are in a business meeting discussing their company's international expansion. They are debating about the factors that do not influence the value of a country's currency. They are unsure about: 'Which of the following factors does NOT affect currency values?'

Human resources in international companies

John, Sarah, and Mike are executives at a company. They are trying to determine the equilibrium price of their new product in the market. Can you help them out?

The price where Mike believes supply equals demand

The price where John believes supply is greater than demand

The price where Sarah believes demand is greater than supply

Imagine this scenario: John, Sarah, and Emily are at a business meeting. They are looking at a graph displayed on the projector. This graph represents the amount of a certain product that consumers are willing to pay and the company is willing to supply. They start a fun debate. According to this graph, how much are consumers willing to pay per unit of the product and the company is willing to supply to purchase a unit of the product?

25 units of product for a price of $9

This graph does not show the equilibrium price or quantity of the product.

John, Sarah, and Mike are partners in a business. During a meeting, they discussed that their company can implement something called 'trade barriers'. Can you guess what these are in the business context?

Free trade only within its own country

Imagine a scenario where a company named XYZ Corp is discussing their Social Responsibility. According to them, it refers to:

The duty of a business to contribute to the well-being of a community.

Companies doing business as they wish, with little or no consequences.

Governments not having environmental standards in place.

Supporting upper management in a company or corporation.

Sophia, Anika, and Ethan are executives at a multinational corporation. During a board meeting, Sophia brings up the topic of 'Downsizing' and defines it as:

'A planned reduction in the number of employees needed in a company in order to reduce costs and improve efficiency.'

'An automatic reduction in the workforce with the understanding that workers will not really move, just have their pay reduced.'

'Removes work from one company and sends it to another company that can complete it at a lower cost.'

At a business conference, Isla, Harper, and Elijah are having a discussion. They are trying to define what 'corporate culture' is. Can you help them out?

Or is it a set of beliefs, customs, and attitudes of a distinct group of employees?

Is it prejudice and discrimination as a corporate problem?

Could it be creativity and innovation in the business environment?

Imagine the CEO, CFO, and COO of a multinational corporation are discussing business ethics. The CEO says, 'Business ethics is misusing company resources for personal gain.' The CFO says, 'Business ethics is using authority and influence to exploit employees.' The COO says, 'Business ethics is a set of moral principles that guide the way a business behaves.' And a fourth board member says, 'Business ethics are principles that guide communication during business hours.' Who is correct?

COO: A set of moral principles that guide the way a business behaves

CEO: Misusing company resources for personal gain

CFO: Using authority and influence to exploit employees

The fourth board member: Principles that guide communication during business hours

Imagine you are in a business meeting with Grace, Benjamin, and Aria. You are discussing factors that affect the exchange rates in international business. Everyone agrees on three factors: Balance of payments, Economic conditions, and Political stability. However, Benjamin suggests a fourth factor, 'Trade barriers'. Do you think Benjamin is correct?

No, 'Trade barriers' is not a factor

Yes, 'Balance of payments' is not a factor

Yes, 'Economic conditions' is not a factor

Yes, 'Political stability' is not a factor

Business Concepts and Leadership Final Exam

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Business Concepts and Leadership Final Exam

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Suppliers often charge higher prices when demand is low.

Suppliers often charge higher prices when demand is low.

Resources are unlimited

A new iphone is considered a want.

Raw materials supplied by nature are called capital resources.

Timing does not influence supply and demand.

A surplus means you have less of something.

If you traveled to England, the value of the U.S. dollar could be less.

The basic economic problem results from scarcity.

The benefits of socially responsible actions outweigh the costs.

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