IV English - Business Cycle, International trade, CSR

Question 1

The business cycle is also called

Answer 1

trade cycle

Question 2

The business cycle can be defined as a permanent feature of market economies where

Answer 2

economic activities grow and contract

Question 3

The four phases of the cycle are called

Answer 3

upturn, peak, downturn, depression

Question 4

A prolonging recession is called

Answer 4

depression

Question 5

The lowest point on the business cycle is called

Answer 5

trough

Question 6

Investment is linked to ______________ and only takes place when demand is growing.

Answer 6

consumption

Question 7

Imports and exports of goods and services without any government restrictions

Answer 7

Free trade

Question 8

restricting imports by way of trade barriers such as tariffs and quotas

Answer 8

Protectionism

Question 12

Government policies or regulations that restrict international trade

Answer 12

trade barriers

Question 12

A maximum quantity of goods of a specific kind that can be imported into a country

Answer 12

quota

Question 12

A tax charged on imports

Answer 12

tariff

Question 13

country’s ability to produce particular goods more efficiently than some other countries

Answer 13

comparative advantage

Question 13

a country’s ability to produce goods at a lower cost than any other country

Answer 13

absolute advantage

Question 14

the industry in an early stage of development and which cannot survive competition from foreign companies

Answer 14

an infant industry

Question 15

the industry that is particularly important to a country’s economy

Answer 15

a strategic industry

Question 16

selling unwanted goods very cheaply, usually in other countries

Answer 16

dumping

Question 17

The role of business is to generate profits for owners – shareholders conforming to the law, local customs and ethics.

Answer 17

SHAREHOLDER/STOCKHOLDER MODEL

Question 18

The role of business is to generate profits for owners – shareholders conforming to the law, local customs and ethics. A business is to generate profits but also to satisfy a company’s all stakeholders:
* those who have a stake in a company – shareholders
* those who have an interest in a company – customers & local communities
* those who have a claim on a company – employees & suppliers

Answer 18

STAKEHOLDER MODEL

Question 19

good impressions about a company in one area create positives opinions about this company in other areas

Answer 19

the halo effect

Question 20

be involved in good practices; czynić dobro

Answer 20

to do gooding

Question 21

to make profits

Answer 21

to create monetary value for companies

Question 22

an assumption; przesłanka

Answer 22

a premise

Question 23

CSR attitude, a company’s CSR stance – stosunek firmy do odpowiedzialnego biznesu

Answer 23

CSR stance

Question 24

Trade in commodities is called

Answer 24

visible trade

Question 25

Services, such as banking, insurance, tourism and technical expertise

Answer 25

invisible imports and exports

Question 26

difference between total earnings from all exports and total expenditure on all imports

Answer 26

balance of payment

Question 27

The imaginary situation in which a country is completely self- sufficient and has no foreign trade is called

Answer 27

autarky