BUS 155 Midterm Exam Answers
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Question1: (TCO 1) A(n) _____________ curve shows the relationship between the price of a good and the quantity of that good which people are willing and able to buy in a given time period.
Question2: (TCO 1) As a factor of production, the term capital includes
Question3: (TCO 1) Which of the following is a factor of production?
Question4: (TCO 1) The total value of final goods and services produced within a nation’s borders in a given year is known as that nation’s
Question5: (TCO 4) Which of the following statements about the operation of a corporation is correct?
Question6: (TCO 4) An entrepreneur who wishes to start a business with little delay or hassle, and who wants to be his or her own boss, should organize the business as a:
Question7: (TCO 2) Which of the following would least likely involve ethical concerns?
Question8: (TCO 2) Obeying the law is ________ ethical behavior
Question9: (TCO 4) Which of the following statements about buying a franchise is most accurate?
Question10: (TCO 4) Mara plans to open a shop specializing in foods and cultural items from the Middle East. She wants to be the firm’s only general partner, but she is trying to get several friends to participate as limited partners....