Big Ideas in Science

Question 1.1. (TCO 1) Intangible products, such as income tax return preparations, education, and healthcare. (Points : 5)

A.       Business

B.       Goods

C.       Services

D.       Entrepreneur

E.        Revenue

Question 2.2. (TCO 1) That part of economics that studies the operations of a nation’s economy as a whole. (Points : 5)

A.       Economics

B.       Microeconomics

C.       Macroeconomics

D.       Resource development

E.        Invisible Hand

Question 3.3. (TCO 1) Buying products from another country. (Points : 5)

A.       Importing

B.       Exporting

C.       Free Trade

D.       Absolute advantage

E.        Comparative advantage

Question 4.4. (TCO 2) Standards of moral behavior; behavior accepted by society as right versus wrong. (Points : 5)

A.       Corporate policy

B.       Corporate responsibility

C.       Corporate social initiatives

D.       CSR

E.        Ethics

Question 5.5. (TCO 3) The difference between money flowing into a country and money flowing out of a country. (Points : 5)

A.       Balance of payments

B.       Balance of trade

C.       Common Market

D.       Countertrading

E.        Devaluation

Question 6.6. (TCO 3) A tax imposed on imports. (Points : 5)

A.       Trade surplus

B.       Trade deficit

C.       Tariffs

D.       Strategic alliance

E.        Multinational corporation

Question 7.7. (TCO 4) Someone internally, who acts like an entrepreneur. (Points : 5)

A.       Home-based Business

B.       Extrapreneurs

C.       Intrapreneurs

D.       Preneurs

E.        None of the above

Big Ideas in Science

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