19 Questions
Which of the following is NOT a key purpose of the Sarbanes-Oxley Act?
To promote sustainable business practices
Which of the following best describes 'sexism' as defined in the text?
Discrimination against members of either sex, but usually against women
What is the primary purpose of the World Bank according to the text?
To lend money to less-developed countries
Which of the following best describes 'social audits' as defined in the text?
Formal procedures that identify and evaluate all company activities related to social issues
What is the key purpose of the World Trade Organization (WTO) according to the text?
To monitor GATT agreements and mediate international trade disputes
Which of the following best describes 'structural unemployment' as defined in the text?
People who remain unemployed for long periods of time, often with little hope of finding new jobs like their old ones
Which of the following best describes 'supply' as defined in the text?
The willingness and ability of sellers to provide goods and services at different prices
What is the primary purpose of 'whistle-blowing' according to the text?
Disclosure to company officials, government authorities, or the media of illegal, immoral, or unethical practices committed by an organization
What is the primary purpose of 'social responsibility' as defined in the text?
A business's consideration of society's well-being and consumer satisfaction in addition to profits
Which of the following best describes 'supply curve' as defined in the text?
A graph that shows the relationship between different prices and the amount of goods that sellers will offer for sale regardless of demand
Which term refers to the process of dividing work activities into units within an organization?
Departmentalization
What does devaluation refer to?
Reducing a currency's value in terms of other currencies or a fixed standard
What does balance of trade represent?
Difference between exports and imports
What is the main focus of economics as a social science?
Analyzing choices in resource allocation
What is the primary aim of the Canada–United States–Mexico Agreement (CUSMA)?
Reducing tariffs and trade restrictions
What is dumping in the context of international trade?
Selling products below production costs to gain market share from domestic competitors
What does directing involve in an organizational context?
Guiding and motivating employees to achieve organizational goals
Business ethics mainly focus on:
Standards of conduct and moral values in the business environment
Balance of payments is concerned with:
Overall money flows in and out of a country
Test your knowledge on key economic concepts such as balance of payments, demand, balance of trade, and demand curve. Learn about the overall money flows in and out of a country and the willingness of buyers to purchase goods and services at different prices.
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