Business 1110-Chapter 5

7 Questions | Total Attempts: 41

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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. 
    • 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.