BÀI TẬP

INTRODUCTION TO BUSINESS
[ GIỚI THIỆU NGÀNH QTKD]

LEARNING THE LANGUAGE (2.0 marks)

Please fill in the blank with the approriative vocabulary (by number only)

1. Communism 11. Franchisor

2. Invisible hand 12. Services.
3. Capitalism 13. Conventional corporation
4. Limited liability 14. Command economies
5. A non-profit organization 15. Factors of production.
6. Monopoly 16. Stakeholders
7. Technology 17. Free market economies
8. Greening 18. Market price
9. Resource development 19. Limited partnership
10. Franchise agreement 20. Inflation

1. Technology_____ is consider to be everything that make business processes more

effective, efficient and productive, such as phones, copiers, computer, medical imaging
devices, personal digital assistants and various software programs.
2. A state-chartered legal entity with authority to act and have liability separate from its
owners is a ___Conventional corporation_____
3. The economic system known as ____capitalism____ is one in which all or most of the
factor of production and distribution are privately owned and operated for profit.
4. The trend known as____greening____ refers to the trend of saving energy and
producing products that cause less harm to the environment.
5. In economic systems considered ____free market economics____ the market largely
determines what goods and services get produced, who gets them, and how the economy
grows.
6. Adam Smith coined the term ____invisible hand____ to describe the process that turns
self-directed gain into social and economic benefits for all.
7. Some countries operate under ____command economies____ economies, economic
system in which the government largely decides what goods and service will be
produced, who will get them, and how the economy will grow.
8. A ____franchise agreement____is an arrangement whereby someone with a good idea
for a business sells the rights to use the business name and to sell a product or service to
others in a given
9. Limited partners and shareholders have ___limited liability_____ because they are only
responsible for the losses of a business up to the amount the invest.
10. An agreement such as a ____limited partnership____ is a partnership with one or more
general partners and one or more limited partners.
11. A ____monopoly____ is a market in which only one seller controls the total supply of a
product or service and sets the price.
12. The study of ____resource development____ focuses on how to increase resources and
to create the conditions that will make better use of those resources.
13. The economic and political system called ____communism____ is one in which the
state (the government) makes all economic decisions and owns almost all the major
factors of production.
14. Land, labor, capital, entrepreneurship and knowledge are known as ____factors of
production____
Mid-term Test – Ì2B– Lect. Ngô Bình / FIBA - HUFLIT
15. Government economists keep a close watch on ___inflation_____, which is the general
rise in the price level of goods and services over time.
16. Products that are intangible, such as education, heath care, insurance, recreation and
travel and tourism are known as. _____services___
17. ____A non-profit organization____ is an organization whose goals do not include
making a personal profit for its owners or organizer.
18. A business’s ____stakeholders____ are all the people who stand to gain or lose by its
policies and activies and whose concerns the business needs to address.
19. The ____market price____ is the price determined by supply and demand.
20. A ____franchisor____ is a company that develops a product concept and sells others the
rights to make and sell the products.

Mid-term Test – Ì2B– Lect. Ngô Bình / FIBA - HUFLIT