Business And Technology Assignment Question

Business And Technology Assignment Question

BUSN 115 Midterm Exam
Introductions to Business and Technology
BUSN 115 Midterm Exam Study Guide:
Define importing and exporting.
Explain free trade.
Explain the difference between absolute advantage and comparative advantage.
Explain business, goods, services, and revenue.
Define and explain entrepreneurship.
Explain economics and resource development.
Summarize Adam Smiths theory.
Define and explain the various forms of business organization to include partnerships, franchising, and corporations.
Define and explain international and global marketing.
Explain the major concepts related to a small business startup to include business plans, venture capitalists, the SBA, the SBIC, and SCORE
Know the elements of a business plan.
Explain acquisition, LBO, and LLP.
Explain corporate policy and corporate responsibility.
Describe corporate social initiatives.
Define ethics.
Define CSR.
Describe insider trading.
Explain various interested stakeholders.
List and explain the steps to be considered when determining the ethics of an action.
Explain the differences between compliance- and integrity-based ethics codes.
Define balance of payments and balance of trade.
Describe common market, countertrading, and devaluation.
Identify and explain WTO, SWFs, NAFTA, and FDI.
Describe an embargo.
Describe and explain trade surplus, deficit, tariffs, a strategic alliance, and a multinational corporation.
Explain the steps to establish a new business.
Describe an intrapreneur.
Explain microloans and the management team.
Describe and explain GDP, communism, depression, recession, and capitalism.
Explain some of the reasons for the success and failure of small businesses.
Describe the forms of business ownership, know how they are used and the advantages and disadvantages of each one.
Describe a franchise, and know its advantages and disadvantages.
Define a business merger.
Describe the purpose of a limited liability company.
Describe what advantages a small business may have when entering a foreign countrys market.
Describe what the difference is between privately and publicly owned businesses.
Describe the reasons why some people become entrepreneurs.
Explain the steps that should be taken in the buying of a franchise.
Describe and explain SCORE.
Describe the aspects of a limited liability company.
BUSN 115 Midterm Exam Week 4 :
Question 1.1. (TCO 1) The amount of money a business takes in during a given time period by selling goods and/or selling services. (Points : 5)

Question 2.2. (TCO 1) That part of economics that studies the operations of a nations economy as a whole. (Points : 5)

Question 3.3. (TCO 1) That part of economics that studies the behavior of people and organizations in particular markets. (Points : 5)

Question 4.4. (TCO 2) An unethical activity in which insiders use private company information to further their own fortunes or those of their family and friends. (Points : 5)

Question 5.5. (TCO 3) A complete ban on the import or export of a certain product, or the stopping of all trade with a country. (Points : 5)

Question 6.6. (TCO 3) An unfavorable balance of trade occurs when the value of a countrys imports exceeds that of its exports. (Points : 5)

Question 7.7. (TCO 4) Investors who provide money to finance new businesses or turnarounds in exchange for a portion of ownership, with the objective of reselling the business at a proft.(Points : 5)

1.(TCO 1) Describe and explain capitalism and how it functions in a free market economy. (Points : 30)

2.(TCO 2) Describe and explain corporate responsibility using an ethical perspective. Your stakeholder group for your answer is parents of high school students. Your company designs, produces, and sells video game apps for the mobile market. A concern has been raised in the community where your company is located about the violence portrayed in your mobile video game apps. What do you say to the parents? Why? (Points : 30)

3.(TCO 3) Describe and explain the fundamentals of the international market. Why do nations trade and how trade measured. (Points : 30)

4.(TCO 4) Outline the three ways an entrepreneur can start the business discussing the advantages and disadvantages of the three. (Points : 25)