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MIE 201 Test 1 Makanui (Questions & Answers) Solved Correctly!!
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MIE 201 Test 1 Makanui (Questions & Answers) Solved Correctly!!
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Name: Score:208 Multiple choice questions
Term 1 of 208
what are assets?
- can be defined as anything owned by the company that can be of meaningful value (from
patents and brand names to real estate and company stock).
- taxes levied on consumer purchases of goods and services at the time of purchase
- sales taxes are collected by retail businesses at the time of the sale and then forwarded to
state governments
- a form of financial assistance in which producers receive enough money from the
government to allow them to lower their prices in order to compete more effectively in the
global market
- fluctuations in the rate of growth that an economy experiences over a period of several
years
- up and down swings during a period of recovery
Definition 2 of 208
- the principles and standards governing the conduct of a person or group that are accepted by
society as right v. wrong
- in business this means competing fairly and honestly, communicating truthfully, being
transparent, and not causing harm to others
Human Resources (HR)
ethics
opportunity cost
profit
,Definition 3 of 208
- limits placed on the quantity of imports a nation will allow for a specific product during a given
year
import quotas
tariffs
dumping
sustainable development
Term 4 of 208
supply curve
- a specific quantity of a product that the seller is able and willing to provide at various
prices
- the quantities of a good or service that producers will provide on a particular date at a
particular price
- behavior of the sellers
- assigning a wide range of generalized attributes, which are often superficial or even false,
to an individual based on his or her membership to a particular culture or social group
- a graph of the quantities of a product that sellers will offer for sale regardless of demand
at various prices
- shows the relationship between prices and quantities that sellers will offer for sale despite
demand
- a view of business that considers the myriad decisions that must be made and the many
problems that must be overcome before companies can deliver the products that satisfy
customer needs
,Definition 5 of 208
- developed to encourage organizations to recruit and promote members of groups whose past
economic progress has been hindered through legal barriers or establishes practices
employment quotas
protected classes
affirmative action programs
corporate social responsibility
Definition 6 of 208
- Interstate Commerce Commission
- regulates and oversees carriers engaged in transportation between states: railroads, bus lines,
trucking companies, oil pipelines, and waterways
FCC
FAA
identity theft
ICC
Term 7 of 208
deal with the individual
- free market
- planned
- don't stereotype the other person or react with pre-conceived ideas
- regard the person as an individual first, not as a representative of another culture
- gives the EPA authority to control hazardous waste
- licensing intellectual property such as a design patent to a company in another country,
which then produces the product and sells it locally
, Definition 8 of 208
- a monthly statistic that measures changes in the prices of a representative collection of
consumer goods and services
- government uses it to adjust Social Security payments / businesses use it to calculate cost-of-
living increases for employees / population uses it as a gauge of how well the government is
keeping inflation under control
consumer price index (CPI)
disruptive technologies
world trade organization (WTO)
economic environment
Term 9 of 208
comprehensive environmental response, compensation, and liability act (1980)
- an area where the company makes whatever it makes (for goods-producing businesses) or
does whatever it does (for service businesses)
- responsible for purchasing, logistics, facilities management
- establishes the "Superfund" program to oversee the identification and cleanup of
uncontrolled or abandoned hazardous waste sites
- systems that promote communication and information usage through the company or that
allow companies to offer new services to their customers
- association of southeast asian nations (ASEAN)
- union of South American nations (USAN)
- greater arab free trade area (GAFTA)
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