Podcast Beta
Questions and Answers
What type of transaction involves the selling of items produced in the same country?
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Why are workers in developing countries willing to work at lower wages?
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What is a benefit of international trade related to increased quantity?
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What is a potential drawback of international trade related to human rights and labor issues?
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Access to resources from other countries is a benefit of international trade. Which is the correct example below?
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What is a key advantage of sole proprietorships?
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In a general partnership, what type of liability do partners have?
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What is a key disadvantage of sole proprietorships?
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Which form of business ownership is operated by two or more partners?
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What concept refers to our dependence on other businesses and economies for survival?
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What is the income left after all costs and expenses are paid called?
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Which of the following is a type of economic resource that comes from the earth, water, and air?
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What is the difference between a need and a want?
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What term describes resources that last for a long time and are created by people?
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Which term refers to new and improved ways of doing things resulting from competition?
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What is the purpose of imposing tariff barriers in international trade?
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What happens when a country has a trade deficit?
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Which of the following is an example of a non-tariff barrier to international trade?
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How do tariff barriers affect the price of imported goods?
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What is the purpose of a balance of trade in international economics?
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Members of an economic system must answer three questions. What goods and services should be ______ within the system?
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Forms of Business Ownership: Sole Proprietorship, Partnership, Co-operatives, ______, Franchises
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Sole proprietorships are businesses that are owned by just one ______
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The key disadvantage of sole proprietorships is unlimited ______
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A partnership is a business that is operated by two or more ______
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Explain the term tariff barrier (related to international trade).
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What is meant by the term "non-tariff barriers in international trade"?
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Explain the term : balance of trade. Describe whether Hong Kong has a surplus or deficit of trade.
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What is a code of ethics in the context of business?
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Define embezzlement and how it relates to accounting fraud.
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Explain the term insider trading?
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Explain the concept of the glass ceiling in the workplace.
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Explain the growing issue of E-waste and what is the responsibility of electronics companies?
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