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MGMT 120 - Exam 1 Review - Macroeconomics Microeconomics...

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Exam 1 Study Sheet: Chapters 1, 2, 3, 4 and Appendix A Mgmt 120 / Spring 2006 / Lynn To do well on the exam, you’ll have to know the book and lecture material. Slides from class are on Blackboard. Bring a scantron for the multiple-choice; I will provide paper for the short-answer and essay. The test is roughly divided as: 80% is multiple-choice from the textbook and lecture 20% is short-answer from lecture Multiple-Choice – I may have overlooked some, but there will be questions on these terms Capital Factors of production Entrepreneurship Invisible hand of competition Capitalism Productivity Creativity Outsourcing Gross domestic product (GDP) Stages of moral and ethical development Ethical dilemmas Different types of leave (i.e., maternity leave, sick leave, etc.) Equal Employment Opportunity Commission Securities and Exchange Commission
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Unformatted text preview: Macroeconomics Microeconomics Supply and demand (and their curves) Equilibrium price 3 economic systems Monetary and Fiscal policy Business law concepts and terms Short-Answer PowerPoint items are marked with a “PP;” text items are marked with a “T”: • List and briefly describe the five principles (FIGIT) on which capitalism rests (PP) • Interpret a supply and demand diagram (T and PP) One of these questions will be verbatim on the exam (worth 10 points): • After reaching great heights in the late nineteenth century, why was globalization all but dead in Western Europe by 1914? • Briefly describe American business during the Jacksonian period. • List and briefly describe the causes of economic growth in the United States during 1860-1920....
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