Business 1110-Chapter 5
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Chapter 5 Multiple Choice Questions
- 1.Per Capita Income is .......
- A.
The average income income per person-as a measure to divide countries into one of six groups.
- B.
The average income per person-as a measure to divide countries into one of two groups.
- C.
The average income per person-as a measure to divide countries into one of five groups.
- D.
The average income per person-as a measure to divide countries into one of four groups.
- E.
The average income per person-as a measure to divide countries into one of three groups.
- 2.
- A.
Products made and driven and sold on the spot.
- B.
Products made or produced domestically and for sale abroad.
- C.
Products made or grown abroad but sold in Canada.
- D.
Products made or drawn abroad but sold in Canada.
- E.
Products made or grown domestically and for sale abroad.
- 3.
- A.
Non-Absolute, Comparable, Major Competitive, and Global Competitive.
- B.
Absolute, Comparative, National Competitive, and International Competitive.
- C.
Absolute, Capable, National Competitive, and International Competitive.
- D.
Non Competitive, Local Competitive, World-Wide Competitive, Store Competitive.
- 4.What is the name for the rate at which the currency of one nation can be exchanged for that of another?
- 5.What are two types of firms?
- 6.What is a subsidy?
- A.
Is a government payment due to a domestic business to help it compete with foreign firms.
- B.
Is a tax charged on imported products.
- C.
Is imposed stictly to raise money for the government.
- D.
Is an association of producers whose purpose is to control the price of a commodity.
- 7.What is dumping?
- A.
Throwing garbage onto the ground or into the water.
- B.
Selling a product abroad for less than the comparable price charged at home.
- C.
Food being wasted an thrown in the garbage.
- D.
Is the pollution that come from toxic or natural waste.
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