(TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services.;Student Answer: Business;Goods;Services;Entrepreneur;Revenue;Question 2. Question: (TCO 1) A behavioral science that studies how society chooses to employ resources to produce goods and services and distribute them.;Student Answer: Economics;Microeconomics;Macroeconomics;Resource development;Invisible Hand;Question 3. Question: (TCO 1) That part of economics that studies the behavior of people and organizations in particular markets.;Student Answer: Economics;Microeconomics;Macroeconomics;Resource development;Invisible Hand;Question 4. Question: (TCO 2) An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends.;Student Answer: Insider trading;Social audit;Socially conscious investors;Environmentalists;Union officials;Question 5. Question: (TCO 3) The difference between money flowing into a country and money flowing out of a country.;Student Answer: Balance of payments;Balance of trade;Common Market;Countertrading;Devaluation;Question 6. Question: (TCO 3) An unfavorable balance of trade occurs when the value of a country?s imports exceeds that of its exports.;Student Answer: Trade surplus;Trade deficit;Tariffs;Strategic alliance;Multinational corporation;Question 7. Question: (TCO 4) Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership, with the objective of reselling the business at a proft.;Student Answer: Venture Capitalists;Extrapreneurs;Intrapreneurs;Angel Investors;None of the above;(TCO 1) Describe and explain capitalism and how it functions in a free market economy.;Question 2. Question: (TCO 2) Describe and explain corporate responsibility using an ethical perspective. Your stakeholder group for your answer is parents of high school students. Your company designs, produces, and sells video game apps for the mobile market. A concern has been raised in the community where your company is located about the violence portrayed in your mobile video game apps. What do you say to the parents? Why?;Question 3. Question: (TCO 3) Describe the importance of understanding cultural and legal differences in the global business environment.;Question 4. Question: (TCO 4) Describe the importance of small business and entrepreneurship in the U.S. Economy.
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