Can You Answer These Business 101 Questions?

7 Questions | By Golddude1000 | Updated: Mar 19, 2022 | Attempts: 112

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Introduction To Business Quizzes & Trivia

Chapter 5 Multiple Choice Questions

Questions and Answers

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.

What is an import?
- 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.

What are the forms of Competitive Advantages?
- 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.