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WorksheetsBusiness management 1 (NEW)
Total questions: 10
Worksheet time: 6mins
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
