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POBF Mid-Term Review
Principles of Business & Finance
| Question | Answer |
|---|---|
| what are 3 basic economic questions | how its produced, what to produce, for whom to produce |
| resources | natural,capital, human |
| gross domestic product | GDP, GDP per Capita |
| phrases of the business cycle | prosperity, recession, depression, recovery |
| measurment of economic activieties | inflation, interest rates |
| trading amoung nations | Absolute vs. Comparative Advantage Imports vs. Exports |
| measuring trade relations | Balance of Trade vs. Balance of Payment (Un/Favorable) |
| 4 Elements of International Business Environment | Geography, Economics, Culture, Political/Legal |
| International Trade Barriers | International Trade Barriers |
| Encouraging Trade | Free Trade Zone, NAFTA |
| International Trade Organizations | world bank, world trade organization |
| Business Ownership | Sole Proprietorship, Partnership, Corporation, Cooperatives, Franchises, Joint-Venture |
| Leadership Styles | Democratic, Autocratic, Laizze-Faire, Mixed, Strategic & Tactical |
| levels of managment | top, mid managment, supervisor, management by others |
| functions of managment | planning, organizing, staffing, implemeting, controlling |
| human resources activities | planning and staffing, performance managment, compensation and benefits, employee relations |
| business operations | facilities mamagment, logistics, scheduling, safety and security |
| Production & Manufacturing: | Product Development, Mass Production, Customization, Materials Processing, Extraction & Cultivation |
| technology concerns | health, emplyee, and privacy concerns, computetr crime |