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MIE 201 EXAM 1 QUESTIONS WITH CORRECT ANSWERS

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MIE 201 EXAM 1 QUESTIONS WITH CORRECT ANSWERS

Institution
MIE 201
Course
MIE 201

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The difference between a country's exports and its imports


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Trade Balance




A(n) ________________ tariff is a tax levied by a nation on goods imported into the country


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import




What are land, forests, minerals, water, and other things that are not made by people

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Natural Resources




A partnership in which two or more companies join to undertake a major project


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Joint Ventures




The extent to which businesses meet the four dimensions of social responsibility
placed on them by stakeholders is referred to as ________________ citizenship


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Corporate




Administers trade agreements and presents a forum for trade negotiations, monitors
national trade policies, and provides training for developing countries


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World Trade Organization




Starbucks offers investors a healthy return on investment, including paying dividends.
This is an example of:

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Financial Viability




Ratification of which agreement created a free trade area among the United States,
Mexico, and Canada?


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NAFTA




A description of how a particular society distributes its resources to produce goods
and services is the definition of________________.
A. the factors of production
B. financial resources
C. the free market
D. an economic system


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D




Which of the following business resources are referred to as factors of productions?
Select all that apply:
A. land
B. good reputation
C. capital
D. labor

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Institution
MIE 201
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MIE 201

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