question What is the primary focus of microeconomics in commerce

Commerce

What is the primary focus of microeconomics in commerce?

A. Aggregate economic indicators
B. Individual economic entities and their decision-making
C. International trade
D. Government fiscal policy

Microeconomics focuses on individual economic entities, such as households and firms, and their decision-making processes.

What is the primary purpose of the Federal Reserve System (the Fed) in the United States?

A. Regulating international trade
B. Managing fiscal policy
C. Controlling inflation
D. Conducting monetary policy and ensuring financial stability

In commerce, what does the term "outsourcing" refer to?

A. International trade agreements
B. Contracting out business processes to external providers
C. Government subsidies
D. Consumer protection laws

What is the primary goal of the Central Economic Planning Authority in a command economy?

A. Encouraging competition
B. Maximizing profits for businesses
C. Planning and controlling economic activities
D. Promoting consumer rights

What is the purpose of the Better Business Bureau (BBB) in commerce?

A. Regulating international trade
B. Promoting ethical business practices and consumer trust
C. Managing fiscal policy
D. Controlling inflation

What is the purpose of the Securities and Exchange Commission (SEC) in commerce?

A. Regulating international trade
B. Enforcing securities laws and protecting investors
C. Managing fiscal policy
D. Controlling inflation

In commerce, what does the term "capital budgeting" refer to?

A. Managing government expenditure
B. Evaluating and selecting long-term investment projects
C. Market analysis
D. Consumer behavior

In commerce, what is the significance of a patent?

A. Protecting the environment
B. Providing legal protection for inventions
C. Controlling inflation
D. Facilitating international trade