BUS 508 FINAL EXAM 2
BUS 508 Final Exam 2
1.
During the past
decade, which of the following countries has experienced the greatest annual
rate of GDP growth?
2.
When firms
develop products and marketing strategies that appeal to the customer tastes
and buying habits of particular national markets, they are using a ________.
3.
The Foreign
Corrupt Practices Act:
4.
A trade deficit
occurs when ________.
5. The European Union
(EU) ________.
6.
Computers that
are manufactured in the United States and sold in Norway are categorized as
U.S. ________.
7.
A balance of
payments deficit occurs when ________.
8.
An absolute
advantage occurs when a country can maintain ________.
9.
Which of the
following is the first step in the decision for a business to expand globally?
10.
Although the
average farm size has increased in recent years the majority of farmers operate
as ________ businesses.
11.
Of the following
industries, which is most likely to be owned by a small business owner?
12.
A restaurant
franchisee purchases which of the following from the franchisor?
13.
When a
government unit owns and operates an organization, the arrangement is known as
________.
14.
Owners of small
businesses can increase their chances of success if they:
15.
In exchange for
an ownership share, Benita's small business receives financing from a group of
individuals known as _____________,
16.
________
newly-launched businesses fail within two years after commencing operations.
17. Martha is the owner of a very small technology start-up. She shares
clerical staff, computers, and other business services with other small
business owners. Martha is part of a(n):
18.
________ are
business organizations or groups of private individuals who invest in new or
growing firms.
19.
_____ are
specific geographic areas designated for economic revitalization.
20.
Which of the
following is a major consideration in selecting a business idea?
21.
The primary
reasons people become entrepreneurs include all of the following reasons
EXCEPT:
22.
Louis works as
an artist for a major textile company and created an innovation for producing
designs. The company will implement Louis’s idea as part of its ________
strategy.
23. An entrepreneur:
24.
Collin works for
a large bank that recently merged with another financial institution. Word of
layoffs has been discussed. Collin is most likely to become an entrepreneur in
order to ________.
25. Financial success
________.
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