BUSN 115 WEEK 4 MIDTERM EXAM

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BUSN 115 WEEK 4 MIDTERM EXAM

BUSN 115 Week 4 Midterm Exam

BUSN 115 Midterm Exam

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.

Question 2.2. (TCO 1) That part of economics that studies the operations of a nation’s economy as a

whole.

Question 3.3. (TCO 1) That part of economics that studies the behavior of people and organizations in

particular markets.

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.

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.

Question 6.6. (TCO 3) An unfavorable balance of trade occurs when the value of a country’s imports

exceeds that of its exports

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 profit

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

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?