Intro to Business Quizlet

taxation and spending

Fiscal policy is concerned with:

a mixed economy

In Canada, the government owns the communications, transportation, and utilities industries, while most other activity is carried on by private enterprise. Canada is an example of:

communist economic system

In a _____, the factors of production are owned collectively rather than individually, and no incentives to work harder or to produce quality products are provided.

a large number of sellers producing nearly identical products

In perfect competition, there is:

capitalism

In terms of economic trends, the complete opposite to communism is:

factors of production

Inputs, such as natural resources, labor, capital, and entrepreneurship, are known as:

all workers in business

Labor, as a factor of production, refers to:

political and legal

Laws passed by the U.S. Congress concerning how U.S. businesses trade with Cuba would be an example of _____ factors that influence the business environment.

the practice of tying philanthropy closely to the corporation's mission or goals

Strategic giving refers to

lower taxes

The Federal Reserve System can do all of the following EXCEPT: A) raise interest rates B) print money C) lower taxes D) sell government securities E) tighten money supply

Standard of living

The _____ of any country is measured by the output of goods and services people can buy with the money they have.

demand-pull and cost-push

The two types of inflation are:

social investing

_____ is the practice of limiting investments to securities in companies that behave in accordance with the investor's beliefs about ethical and social responsibility.

capitalism

An economic system based on complete freedom of trade and little, if any, government control is known as:

economic responsibilities

At the base of the corporate social responsibility pyramid is:

natural resources, labor, capital, entrepreneurship, knowledge

what are the 5 factors of production?