Quiz #3 Bus 100
cartel
The Oil Producing and Exporting Countries (OPEC) is an example of a ________.
limited liability
The best advantage of a corporation over a general partnership is:
balance of trade
The total economic value of all products that a nation imports minus the total economic value of all products that it exports is called a country's ________.
franchisee
Under a franchise arrangement, the buyer is called the ________.
general partnership
A ________ is a business with two or more owners who share in the operation of the firm and are financially responsible for its debts
financial plan
A(n) ________ generally includes a cash budget, an income statement, a balance sheet, and a breakeven chart
business plan
In a(n) ________, an entrepreneur summarizes business strategy for a new venture and shows how it will be implemented
local content laws
Many countries have ________ that require that products sold in a particular country be partly made there.
a government payment to help a domestic business compete with international firms
Which of the following best defines the term subsidy?
tariff
Which of the following is a tax on imported goods or products?