TEST 2026 FULL QUESTIONS AND
ANSWERS HIGH SCORE SET
◉ Corporation. Answer: a form of business ownership that is owned
by stockholders who
have purchased units or shares of the company
◉ Elastic Demand. Answer: demand that changes according to
changes in price
◉ Inelastic Demand. Answer: demand that is not affected by changes
in price.
◉ Unitary Demand. Answer: when sales remain the
same because changes in supply and demand are equal
◉ Tort. Answer: a private wrongdoing that potentially harms
another person or entity
,◉ Doctrine of Sovereign Immunity. Answer: the universally accepted
principle that each nation has the right to manage its own
government and develop
its own laws.
◉ Job Enlargement. Answer: combining different tasks into one
position
◉ Job Rotation. Answer: moving from one job to another job within
an organization
◉ Specialization by Trade. Answer: the type of work that a person
performs in order to earn a living, such as engineering, public-
relations, or accounting.
◉ Frictional Unemployment. Answer: occurs because there are
always workers who are in transition
◉ Structural Unemployment. Answer: when the demand for certain
types of workers declines and is often due to technology
advancements and the need for new skills
◉ Cyclical Employment. Answer: result of changes in the economic
and business cycles
, ◉ Wage Garnishments. Answer: court-ordered initiatives that
involve taking income taken from an employee's salary and
submitting it to another person or organization
◉ Embezzlement. Answer: theft of valuables that have been
entrusted to another's care
◉ Securities Fraud. Answer: the use of misleading sales tactics to
persuade investors to purchase securities
◉ Espionage. Answer: revealing confidential information without
the source or owner's permission and is often associated with
spying
◉ Variety-seeking Buying Behavior. Answer: involves the purchase
of routine items
◉ Brand-insistence Buying Behavior. Answer: buyer will not buy
anything other than a specific
brand or product
◉ Automation. Answer: involves the use of machines to carry out
production tasks