AFM 131 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
What is EQ?
Emotional Quotient, measures emotional intelligence.
What is intrapreneurship?
Entrepreneurial activity within a corporate setting.
What is sustainability?
Business practices that leave a positive impact on the environment.
What is balance of trade?
The relationship between importing and exporting.
What is a favourable balance of trade?
When exports are greater than imports.
What is an unfavourable balance of trade?
When imports are greater than exports.
What is business?
An activity that you intend to carry on for profit.
What is comparative advantage?
Countries should sell what they can produce most efficiently.
What is contract manufacturing?
Finding a foreign manufacturer to make your product.
What is a corporation?
,An incorporated business that's considered a separate legal entity.
What is a crown corporation?
A company owned by the federal or provincial government.
What is an embargo?
A ban on the import or export of specific products.
What is exporting?
The sale of goods and services to another country.
What is foreign direct investment (FDI)?
Buying permanent property or a business in a foreign country.
What is a foreign subsidiary?
A company that is owned by a parent company located in another country.
What is self-awareness?
Understanding one's own emotions and how they affect others.
What is self-control?
The ability to regulate one's own emotions and impulses.
What is empathy?
The ability to understand and share the feelings of others.
What is franchising?
Selling rights to use business name
What is a free market economy?
Market determines goods and services
What is free trade?
Trading without political/economic obstruction
, What is importing?
Purchasing goods/services from another country
What is an import quota?
Limit on quantity of products imported
What is a joint venture?
Partnership for a major project
What is licensing?
Domestic company allows foreign company to make product for a fee
What are multinational corporations?
Manufacture and market products in many countries
What is a mixed economy?
Market and government allocate resources
What are non-tariff barriers?
Regulations hindering trade
What is a partnership?
Business created with two or more people
What is privatization?
Sale of publicly-owned corporation
What is a small business?
Independently owned and operated, not dominant, meets size standards
What is a sole proprietorship?
Business owned and operated by one person
What is a strategic alliance?
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
What is EQ?
Emotional Quotient, measures emotional intelligence.
What is intrapreneurship?
Entrepreneurial activity within a corporate setting.
What is sustainability?
Business practices that leave a positive impact on the environment.
What is balance of trade?
The relationship between importing and exporting.
What is a favourable balance of trade?
When exports are greater than imports.
What is an unfavourable balance of trade?
When imports are greater than exports.
What is business?
An activity that you intend to carry on for profit.
What is comparative advantage?
Countries should sell what they can produce most efficiently.
What is contract manufacturing?
Finding a foreign manufacturer to make your product.
What is a corporation?
,An incorporated business that's considered a separate legal entity.
What is a crown corporation?
A company owned by the federal or provincial government.
What is an embargo?
A ban on the import or export of specific products.
What is exporting?
The sale of goods and services to another country.
What is foreign direct investment (FDI)?
Buying permanent property or a business in a foreign country.
What is a foreign subsidiary?
A company that is owned by a parent company located in another country.
What is self-awareness?
Understanding one's own emotions and how they affect others.
What is self-control?
The ability to regulate one's own emotions and impulses.
What is empathy?
The ability to understand and share the feelings of others.
What is franchising?
Selling rights to use business name
What is a free market economy?
Market determines goods and services
What is free trade?
Trading without political/economic obstruction
, What is importing?
Purchasing goods/services from another country
What is an import quota?
Limit on quantity of products imported
What is a joint venture?
Partnership for a major project
What is licensing?
Domestic company allows foreign company to make product for a fee
What are multinational corporations?
Manufacture and market products in many countries
What is a mixed economy?
Market and government allocate resources
What are non-tariff barriers?
Regulations hindering trade
What is a partnership?
Business created with two or more people
What is privatization?
Sale of publicly-owned corporation
What is a small business?
Independently owned and operated, not dominant, meets size standards
What is a sole proprietorship?
Business owned and operated by one person
What is a strategic alliance?
