Virtual Business Semester I Review

Front

When considered low, the economy shows a rising currency value. Which term describes this occurrence? (Interest rate, Inflation, Public debt, Deficit)

Back

Inflation

Front

Which agreement focuses on tariffs related to agriculture, textiles and automobiles?

Back

North American Free Trade Agreement

Front

What is it called when a business creates the efficient production of a specific product or service?

Back

Specialization

Front

When a company sells goods and services at a lower price than its competitors and still gains larger profits, what is this called? Options: Comparative Advantage, Specialization, Global Business, Bilingualism

Back

Comparative Advantage

Front

amount charged by a lender to a borrower for the use of their money

Back

Interest Rate

Front

debt owed by a government

Back

Public Debt

Front

investors look to support stable countries with strong economic performance

Back

Political Stability

Front

What is the definition of a fixed cost?

Back

A constant cost to a business

Front

Risk is

Back

an indicator of a threat, the possibility of loss, damage, or any undesirable event, not the same as uncertainty.

Front

Type of risk caused by changes in business conditions

Back

Economic