Business > EXAM > Business Managment Quiz 1with the correct answers,Graded A. (All)

Business Managment Quiz 1with the correct answers,Graded A.

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Business Managment Quiz 1 This is just a small part of the quiz preview 1. How do businesses support governments? Business taxes support government. 2. A healthy business climate contributes... to the ________ of people in a society. standard of living 3. The term global business environment refers to ________. the international forces that affect business 4. Business is different from a government agency because ________. businesses seek to make profits, but government agencies generally do not 5. The ________ refers to the international forces that affect a business. global business environment 6. The environment in which a firm conducts its operations and derives its revenues is the ________. domestic business environment 1. Which of the following contributed to the increase in prices for homes before the burst of the housing bubble? Banks and mortgage companies made it easier for people to buy homes, increasing demand. 2. In the early stages of the housing bubble, when demand for housing increased and demand exceeded supply, what happened to the equilibrium price for houses? The Equilibrium price for the house increased. 3. How did new banking regulations and tightened credit standards affect the supply and demand curves for houses? The demand for houses decreased, creating a surplus. 4. When the U.S. government mounted a bailout in an effort to avoid a depression, which economic tool was it using? Increased spending 5. When the housing bubble burst, homebuilders lost their jobs and millions of people stopped buying discretionary goods and even basic necessities. This resulted in layoffs because businesses experienced less demand. Higher unemployment resulted in even less spending and more layoffs. This situation is known as ________. cyclical unemployment 6. Labor includes the physical and intellectual contributions people make while engaged in ________. economic production 7. ________ includes the physical and intellectual contributions people make while engaged in economic production. Labor 8. An economic system is a nation's system for ________. allocating its resources among its citizens 9. The results of a customer satisfaction survey are examples of ________. information resources 10. A(n) ________ is a nation's system for allocating its resources among its citizens, both individuals and organizations. economic system [Show More]

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