Exam 1 Review

Exam 1 Review - Exam 1 Review 1 After considering the...

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Unformatted text preview: Exam 1 Review 1. After considering the textbooks definition of business, how are universities and hospitals different from the organizations described? A) typically not profit seeking 2. Which of the following is an important element of an organization? D) All of the above 3. The term __ refers to the total quantity and quality of good and service that people? C) Standard of Living 4. The __ refers to the total value of all goods and services produced within a given period by a national economy? C) GDP 5. A __ is prolonged recession A) Depression 6. Taken together fiscal polity and monetary policy make up __ policy? C) Stabilization 7. Which of the following is identified as a communist nation? A) Vietnam 8. __ refers to ethical or unethical behaviors by employees in the context of their jobs? B) Business Ethics 9. Ethical and unethical behaviors are determined by what? C) both individual and culture 10. an __ stance to social responsibility involves doing as little as possible and may involve 10....
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