Goods & Services Finance Exam Review

What are capital Goods ?

• • any form of human effort exerted in production. Also called human resources.

• •  productive resources that are provided by nature - such as land, air, water, forests, coal, iron ore, oil, and minerals.

• • the individual responsible for combining and organizing natural resources, capital goods, and labor to produce a good or service.

• •  a man-made factor of production used by labor in making other products. Includes tools, factories, machines, etc. 

Define a global business

• • A company that operates facilities (such as factories and distribution centers) in many countries around the world.

• A company that operates in a specific area of a country, rather than the entire country

• • A company that operates within the borders of a particular country.

• Any company that provides goods or services to a local population

What is Consumerism

• • Consumer spending, and individual spending is the driving force of the economy. 

  
  

• The more people buy items the faster stores will produce them

• Good and services is the main reason for inflation

Select all of the things advertisements do you catch the attention of the audience

• Use catchy music

• Use Humor

• Use Statistical data

• Use customer service reviews

• Celebrity Appearance

• The right to know important product information is the right to

• Safety

• To be informed

• To redress

• To be heard

• To competition

What is Labor in terms of the properties of production ?

• •  a man-made factor of production used by labor in making other products. Includes tools, factories, machines, etc. 

• •  any form of human effort exerted in production. Also called human resources.

  
  

• • productive resources that are provided by nature - such as land, air, water, forests, coal, iron ore, oil, and minerals.

  
  

• •  the individual responsible for combining and organizing natural resources, capital goods, and labor to produce a good or service.

  
  

What is entrepreneurship in terms of the properties of production?

• •  the individual responsible for combining and organizing natural resources, capital goods, and labor to produce a good or service.

  
  

• •  productive resources that are provided by nature - such as land, air, water, forests, coal, iron ore, oil, and minerals.

• • any form of human effort exerted in production. Also called human resources.

  
  

• •  a man-made factor of production used by labor in making other products. Includes tools, factories, machines, etc. 

• The right to voice their complaints to the seller and to the courts is the right to

• Be heard

• To Redress

• To safety

• To be informed

• To competition

What is Globalization ?

• • When a company moves part of their business operations to another country

• • The process by which businesses or other organizations develop international influence or start operating on an international scale.

• •  Is when a company hires another company to do a job or provide a service. 

• • Fees places on imports or exports from a country

  
  

The right to be compensated for a loss id the right to

• Safety

• Competition

• Redress

• Be informed

• Be heard