Bus100 Midterm Exam Solution

BUS100 Midterm Exam Solution

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• Question 1
4 out of 4 points
The _____ is the business entity in a franchise relationship that allows others to operate a business using resources it supplies in exchange for money and other considerations
• Question 2
4 out of 4 points
_____ is the contractual relationship in which an established firm supplies another business with unique resources in exchange for payment and other considerations.
• Question 3
4 out of 4 points
The party in a franchise relationship that pays for the right to use resources supplied by another business entity is known as the
• Question 4
4 out of 4 points
A nonprofit corporation enjoys the benefit of
r
• Question 5
4 out of 4 points
From the standpoint of an owner, a major advantage of the sole proprietorship is the:
• Question 6
4 out of 4 points
A company must register as a foreign corporation if they
• Question 7
4 out of 4 points
Not all corporations are large. In recent years, about 24 percent of corporations have reported less than _____ in total sales revenue.
• Question 8
4 out of 4 points
The federal government runs a budget deficit when its
• Question 9
4 out of 4 points
Changes in the PPI can predict changes in the Consumer Price Index (CPI) because
• Question 10
4 out of 4 points
An economic system is a structure for
• Question 11
4 out of 4 points
In _____, many firms compete by selling differentiated products.
• Question 12
4 out of 4 points
In the broadest sense, economics studies the choices that
• Question 13
4 out of 4 points
The amount of goods and services produced by an economy divided by the amount of resources used to make those goods and services, measures economic
• Question 14
4 out of 4 points
_____ are people willing to take the risk of starting, owning, and operating a business.
• Question 15
4 out of 4 points
The majority of new small business...