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review for midterm

review for midterm - Which of the following are organized...

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Which of the following are organized for profits and provide goods and services? 2) Capitalism is founded on____ 3) Outsourcing____ 4) Vision? 5) Social Responsibility 6) In the private enterprise system? 7) Sarbanes-Oxley Act of 2002, 8) If the number of buyers increases, the demand curve will shift to the___ and the price will___ 9) A supply curve is an____ 10) Monopolistic competition 11) A pure monopoly 12) Socialism 13) Mixed economy 14) The 4 types of unemployment are: 15) Cyclically 16) Frictionally 17) The part of the federal government responsible for monetary policy is_______ 18) Fiscal Policy_____ 19) Which of the following are considered to be trade restrictions? 20) World Bank 21) United Nations 22) World Trade Organizations 23) When the Small Business Association assist a small business in applying for a major loan, its acts as the lender’s 24) The franchisor 25) Vertical mergers 26) Joint venture 27) Top Management
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28) Supervisory 29) Marcus is responsible for guiding and motivation 10 other employees to accomplish various organization objectives, Marcus handles the managerial function 30) Strategic planning 31) The organizing function 32) ___is the act of directing or inspiring other to perform activities designed to achieve or ganixatoin(?)objectives - Normative statement: what ought to be/ what should be - Positive statement: what is - Factors of production: labor, capital, land - Economics = scarcity - PPF goes out: increase in capital, labor, production - Fundamental questions that must be answered in microeconomics: what, how who - Capital: inventories, buildings, machines - Economic theories and models: simplify, but incorporate the key elements of the real world, and thus allow one to work with them to make more predictions - Law of suppluy: P and Q have positive correlation - Communism: economic well being actions of government central planners - Law of Demand says: price and quantity demanded are negatively related -
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