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FBLA Introduction to Business Test 2
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FBLA Introduction to Business Test 2
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25 Questions

1. A written statement of principles that guides the organizations decisions is a code of __________.
2. Society's way of producing, distributing, and marketing the goods and services desired by its population is called __________.
3. Usually, the top position in a corporation is the _____________.
4. The total value of all goods and services that a nation produces for both domestic and foreign markets is __________.
5. A total ban on trade with a particular nation is called __________.
6. The process of recording, classifying, and summarizing the financial activities of an organization is called __________.
7. Which government agency is responsible for seeing that employers do not discriminate against members of minority groups?
8. A loan granted on the basis of the borrower's credit rather than on the basis of collateral is called a(n) ______loan.
9. ______is the study of how society chooses to use their resources to produce and distribute goods and services for use among various competing groups and individuals.
10. The user of a product is called the __________.
11. A form of fraud in which money received from later investors is used to pay off the early investors is a __________.
12. Current assets minus current liabilities equals __________.
13. When two firms form one company it is called a __________.
14. A ______partnership is owned by people who are equally liable for the business debts.
15. Market in which there are no direct competitors, so that one company controls the industry or market is called a(n) __________.
16. ______are all the people who stand to gain or lose by the policies and activities of an organization.
17. The one word that summarizes a business's social responsibility, moral principles or values and the standards of conduct is ______________.
18. A business arrangement whereby an individual obtains rights from a larger company to sell a well-known product or service is a __________.
19. An agreement that forces workers to promise, as a condition of employment, not to join or remain in a union is called a(n) ______contract.
20. The communication process has five steps, which one of the following is NOT part of the communication process?
21. A diagram that shows how work is divided and where authority lies in a company is a __________.
22. Which of the following are considered a service?
23. Which of the following is NOT considered a trademark?
24. Which of the following is NOT considered one of the four factors of production?
25. The most important function of the Federal Reserve System is to __________.

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