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Who Wants to Be a

Millionaire?

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CH 5 & 6Review

____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

Click the appropriate dollar amount at right to proceed to the question

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Phone A Friend

“OK Contestant…Please select a friend to help you with this one. You have thirty seconds to discuss your options…”

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Ask the Audience

“Audience, we need your help on this one…in a moment, we’ll ask you to indicate, by show of hands, your choice for the correct answer…”

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Fifty - Fifty

You’ve asked that two of the wrong answers be eliminated, leaving you with one wrong answer plus the correct one.

50/50

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Correct

Correct!

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Incorrect

Sorry, That’s Incorrect

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RECALL

If a company’s product is found to be impure or unsafe, the company is ethically obligated to ___ the product from sale.

DESTROY TRADE

SELL

50/50

A

C D

B

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tariff

When the U.S. government limits the number of cars that can be imported, the government is placing a trade barrier known as a ___ on the foreign-made cars.

barrier quota

taxA

C D

B

50/50

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multinationals

Although businesses actually trade with one another, it is the countries’ ___ that negotiate trade agreements.

governments consumers

managementA

C D

B

50/50

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quotas

restrictions on imports and exports among countries

tariffs supply

demandsA

C D

B

50/50

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retailers

What is the term for distributors who obtain goods from manufacturers and sell the goods to other industrial users?

mafia governments

wholesalersA

C D

B

50/50

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absolute

The ability of U.S. firms to produce high-tech goods efficiently gives the U.S. a ___ advantage in the global marketplace.

grandiose comparative

slightA

C D

B

50/50

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contracts

What do U.S. fast food companies enter into in order to open franchises in foreign countries?

Joint ventures Import agreements

Export agreementsA

C D

B

50/50

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Custom police

specialists in the U.S. trade laws, procedures, and tariffs

Foreign nationals CIA agents

Custom brokersA

C D

B

50/50

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OSHA

Which government agency limited the use of chlorine as a pesticide to trained professionals?

FTC EPA

EEOCA

C D

B

50/50

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Interdependence

Each of the world’s nations must obtain some goods and services from other nations. This mutual need to share resources is called economic ___

resourcefulness sanctions

IndependenceA

C D

B

50/50

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Accounting

___ is the business activity that organizes and controls a company’s resources, labor, and capital.

Retailing Marketing

ManagementA

C D

B

50/50

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Equilibrium

the monetary difference between a country’s imports and exports

Expense Balance of trade

Fair market valueA

C D

B

50/50

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Socially responsible

How would you describe a company that voluntarily commits some of its income to helping the community?

Non-profit Professional

crazyA

C D

B

50/50

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Surplus

A nation that imports more that it exports has a trade ___

Barrier Allowance

Deficit A

C D

B

50/50

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NAFTA

The main benefit of ___ was increased trade between the U.S. and Mexico.

EU EPA

WTOA

C D

B

50/50