NAME Rayan AberaLegal EnvironmentPERIOD 4th.Entrepreneurship Test Chapter 8 30 POINTS.Multiple ChoiceIdentify the choice that best completes the statement or answers the question.1. A percentage of the price of an item that goes to a state or local government is aa.discount.c. patent.b. sales tax.d contract.2. Which of the following terms means that you are legally able to enter into a binding agreement?legalityC. agreement6. considerationd. capacity3. A binding legal agreement or promise to do something is a-a.c. contract.law.permit.d. license.4. The federal agency that monitors product safety for items such as cosmetics, food items, and suntan lotions is-thea.Federal Trade Commission.b. Food and Drug Administration.C.American Bar Association.Consumer Product Safety Commission.5. The law that established a minimum wage and maximum working hours is thea. Clayton Act.b. Fair Packaging and Labeling Act.Fair Labor Standards Act.d. Occupational Safety and Health Act.6. A warranty that assures the buyer that the product purchased is of at least average quality and fit for thepurpose for which it was intended is a(n)(a) extended warranty.c. warranty of merchantability.d. buyer's warranty.creditor warranty.-7. The act that says that all employers must pay men and women the same wage for the same work is thea. Robinson-Patman Act.Fair Labor Standards Act.c.b.) Equal Pay Act.d. Consumer Credit Protection Act.8. The act that requires those who give credit to reveal all the terms and conditions of their credit agreements isthea.Consumer Credit Protection Act.Fair Packaging and Labeling Act.d. Clayton Act.b. Robinson-Patman Act.CompletionComplete each statement.Permit9. Before an entrepreneur can open the doors of a business, he or she must get a(n)from the local government.10.was formed to ensure that employees have safe and healthy working conditions.―C

Multiple Choice Identify the choice that best completes the statement or answers the question. 1. A percentage of the price of an item that goes to a state or local government is a a. discount. b. sales tax. c. patent. (d, contract. 2. Which of the following terms means that you are legally able to enter into a binding agreement? b. legality consideration c. agreement d. capacity 3. A binding legal agreement or promise to do something is a a. law, C. contract. permit. d. license.

Multiple Choice Identify the choice that best completes the statement or answers the question. 1. A percentage of the price of an item that goes to a state or local government is a a. discount. b. sales tax. c. patent. (d, contract. 2. Which of the following terms means that you are legally able to enter into a binding agreement? b. legality consideration c. agreement d. capacity 3. A binding legal agreement or promise to do something is a a. law, C. contract. permit. d. license.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter1: Ten Principles Of Economics

Section: Chapter Questions

Problem 4CQQ

See similar textbooks

Similar questions

3. Recycling CanFor the past 10 years, five Colorado cities have held a recycling contest to see which citydoes the best job of recycling plastic, glass, and aluminum. Those participating in thisyear’s contest are Arvada, Centennial, Lakewood, Highlands Ranch, and Parker.To make the contest fair for both large and small cities, the winning city will be the one that recycles the largest number of cans per capita—the number of cans recycled dividedby the number of city residents. 0.02 per can Recycling Can Contest City Population Jan Feb Mar Total Per Capita Arvada 15,855 10,505 24,556 12,567 Centenntial 28,951 24,567 21,777 26,719 Lakewood 142,547 102,376 105,876 121,987 Highlands Ranch 2,801,561 2,714,664 2,503,344 1,999,877 Parker 1,689,908 1,523,665 1,487,660 1,002,545 Total -…
Please see question bellow and 1st answer. Please help with the 2nd part of the question. What kind of incentives would help with the problem? The black rhino is one of the most endangered species on the planet. In southern Africa in 1970 there were 65,000 Black Rhinos. Now there are only 2,500. Basic economics tells us why they are in trouble and what we can try to do about it. Why do people kill the black rhino? Because they can make a lot of money relative to the risk of getting caught - just like drug trafficking and lying on your taxes. In Asian communities the horn is viewed as an aphrodisiac and a powerful pain reliever. In Yemen sabers are made from them. As a result one horn can fetch $30K on the black market. The average yearly income in southern Africa is $1,000 and falling. The black rhino is worth more dead than alive. This is a market that does not correct itself. Another piece of this, that is common to many environmental challenges, is that most black rhinos are…
Question 1 Restricting websites to collect data about children under the age of 13 is covered by what legislation? Question 2 Why do IT organizations outsource work? Question 3 “In Everett Roger’s Technology Adoption User Types, which group of users are the first to adopt new technologies?” Question 4 The simplest way to document a process it to ________ Question 5 What is the critical path in a project plan? Question 6 “When a company “”exports jobs”” overseas, the company is __________________.” Question 7 This implementation methodology is the most risky. Question 8 A series of tasks that are completed in order to accomplish a goal for a business is known as a ______. Question 9 What are the primary business benefits of an ERP system? Question 10 David Andersen created an abstract art painting that he considers his best work. He then sells the painting to Melissa Warren. Melissa decides to make copies of the work and then resell it. What below is true about this?…
1. a. Explain the following in not more than half a page - Opportunity cost. - Production possibility frontier. - scarcity b. Using an appropriate diagram, explain how the production possibility frontier becomes a model of scarcity, choice and opportunity cost. c. Explain the stages of production d. Explain 6 relevance of the stages of production to a business operator.
1.a. i. Using an appropriate diagram, explain how the production possibility frontier becomes a model of scarcity, choice and opportunity cost. ii. Explain the stages of production iii. Explain 10 relevance of the stages of production to a business operator.
1.Define ethical issue? 2.list the categories of unethical business activities as described in the chapter? 3.what is the role of top management in organizational ethics? 4.what is a code of ethics? 5.what are the four components of social responsibility? 6. Give an example of legal but irresponsible behavior. 7. How do business carry out their social responsibilities to consumers? 8.what is corporate philanthropy? 9.Describe strategic giving? 10.what are the 4 important aspects of a social contract between employees and employers?
1. What are the characteristics of a good theory? What makes a theory practical? How can an entrepreneur use the resource-based theory for his or her advantage? 2. Explain the problems we would have if there was a “law of entrepreneurship.” 3. How does each of the four attributes of resources contribute to SCA?
6. Which one of the choices is NOT a characteristic of a capitalist economy? a. Profit motive b. Consumer's freedom c. Private ownership of resources d. State control of the factors of production
match each term with the correct definition ;economics opportunity cost marginal analysis utility a. the next best thing that must be forgone in order to produce one more unit of a given product b. the pleasure happiness or satisfction obtained from consuming a good or service. c the social science concerned with how individuals institutions and society make optimal choices under conditions of scarcity d. making choices based on comparing marginal benefits with marginal cost
MULTIPLE CHOICE. Choose the letter of the best answer. Write the chosen letter on the space provided for 1. The letter M in MOOC stands for? a. Media c. Market b. Massive d. None of the Above 2. A technology that helps instructors evaluate their students' learning. a. Analytics c. Online exams b. Learning trackers d. All of the above 3. This refers to a society's characterized by the shift from letters to e-mails, newspapers to news web pages, books to e-books, and so on. a. Electronic Society c. Paperless Society b. Internet Society d. Digital Society 4. Which of the following is not an example of modern wearable technology? a. Smart Watches c. Smartphones b. Fitness Trackers d. Headsets 5. Refers to a type of learning that happens anytime, anywhere, and with anyone. a. Ubiquitous Learning c. Wide Learning b. Global Leaming d. None of the Above IDENTIFICATION: Identify the term/s being referred to below. Write your answers to the space provided before the number. 1. The…
1.4) An example of innovation rent is: Select one or more: The cost of opening a new factory. The return to an entrepreneur from introducing a new technology. The opportunity cost of production. The cost an entrepreneur must pay to the inventor of a new technology.