Which of the following fields is concerned with understanding the choices people make in using scarce resources?
The willingness and ability of sellers to provide goods and services for sale in a market is referred to as
Which of the following is considered to be the BEST example of pure competition in today's business environment?
A particular industry has many competitors, each of whom has little control over price. In addition, it is fairly easy to enter the industry. This industry is an example of ________.
The four different types of market structure in a private enterprise system are ________.
pure competition, monopolistic competition, oligopoly, and monopoly
Unless it is regulated or only temporary, the market situation called ________ is prohibited in the U.S. through antitrust legislation.
Many developing countries have had __________ rates of GDP growth compared with the United States and other developed countries
Over the past decade, which of the following countries had the highest annual rate of GDP growth?
An absolute advantage occurs when a country can maintain
a monopoly by being the lowest-cost producer
A comparative advantage in a good or service means that __________.
compared to another good or service, a nation will produce the one that it produces most efficiently
A country's exchange rate is based on __________.
the rate at which its currency can be exchanged for other currencies
A country has a good chance of selling more of its goods abroad if it __________.
devalues its currency
Management styles and ways of managing workers may need to be modified in other parts of the world in order to overcome __________ barriers.
A country raises the tariff on imported cheese in order to increase its price above the price of domestically produced cheese. This is an example of __________.
a protective tariff
The North American Free Trade Agreement (NAFTA) can be expected to __________.
vastly increase trade among the member nations
Hannah is a television executive whose team conducted demographic research for new programs. Hannah will be expected to write a detailed ________ report about the impact of this study and the effect of the network's marketing strategy.
The person who directs a firm's management information systems and related computer operations is often called the ________.
chief information officer
A database can best be described as ________.
a centralized integrated collection of the organization's data resources
An information system that provides relevant data to help businesspeople choose the appropriate course of action is called a(n) ________.
decision support system
Diego purchased a company and discovered that his employees were using different operating systems. Instead of spending considerable time and expense getting everyone on the same system, Diego established a(n) ________ to create company bulletin boards, manage documents, and conduct online conferencing.
Software that encodes data, making it difficult for unauthorized users to view, is called ________.
Jennifer belongs to several online card clubs. When she downloaded a recommended bridge game, she unknowingly received a ________, which ultimately damaged the hard drive on her computer.