Devry Busn 115 Final Exam - Latest Essay examples

2012 Words Dec 2nd, 2015 9 Pages
DeVry BUSN 115 Final Exam - Latest
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DeVry BUSN 115 Final Exam - Latest

1. (TCO 1) _____ refer to a resource or capability a company must have before it can start competing in a given market. (Points : 5) Assets Economies of scale Barriers to entry Technological requirements Fixed costs

Question 2. 2. (TCO 1) Free-market capitalism is characterized by _____. (Points : 5) the right of few sellers dominating the market the right to bear and keep arms
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6. (TCO 2) It is always best to put a contract in writing, even though oral contracts can be enforceable under contract law. A contract should _____. (Points : 5) Specify the extent of profits expected by the original party Be recorded at the secretary of state’s office Contain a clear offer and agreement Have only one party to the contract sign and date it
Question 7. 7. (TCO 3) One disadvantage of free trade is _____. (Points : 5) domestic companies can lose their comparative advantage uninterrupted flow of capital provides for lower interest rates workers will be given across-the-board pay increases a company’s productivity grows when it has an absolute advantage domestic workers can be trained for additional jobs
Question 8. 8. (TCO 3) What are the advantages of corporations? (Points : 5) has the power to own property and conduct business It is owned by shareholders It has stock which can be public or private All statements are true
Question 9. 9. (TCO 2) Which category of business law originates from legislative action? (Points : 5) Administrative Law Common Law Statutory Law Civil Law
Question 10. 10. (TCO 3) Nations and companies trade internationally for any of the following reasons: (Points : 5) Expanding into new markets to

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